Salento Macro Meetings 2019
Collegio Santa Chiara, Galatina (Lecce)
Thursday August 29th
Thursday August 29th
9:45-10:00 Welcome address
9:45-10:00 Welcome address
10:00-10:50 Accounting for macro finance trends and optimal government investment
10:00-10:50 Accounting for macro finance trends and optimal government investment
Francois Gourio (FRB of Chicago)*
Francois Gourio (FRB of Chicago)*
Discussant: Christoph Boehm (University of Texas at Austin)
Discussant: Christoph Boehm (University of Texas at Austin)
10:50-11:40 Reserve Accumulation, Macroeconomic Stabilization and Sovereign Risk
10:50-11:40 Reserve Accumulation, Macroeconomic Stabilization and Sovereign Risk
Javier Bianchi (FRB of Minneapolis) and Cesar Sosa-Padilla (University of Notre Dame)*
Javier Bianchi (FRB of Minneapolis) and Cesar Sosa-Padilla (University of Notre Dame)*
Discussant: Francesco Pappadà (Banque de France)
Discussant: Francesco Pappadà (Banque de France)
11:40-12:00 Coffee break
11:40-12:00 Coffee break
12:00-12:50 Real Exchange Rates and Primary Commodity Prices
12:00-12:50 Real Exchange Rates and Primary Commodity Prices
Joao Ayres (Inter-American Development Bank), Constantino Hevia (Universidad Torcuato Di Tella) and Juan Pablo Nicolini (FRB of Minneapolis)*
Joao Ayres (Inter-American Development Bank), Constantino Hevia (Universidad Torcuato Di Tella) and Juan Pablo Nicolini (FRB of Minneapolis)*
Discussant: Carlo Galli (University College London)
Discussant: Carlo Galli (University College London)
12:50-14:00 Lunch
12:50-14:00 Lunch
14:00-14:50 On the Distributional Effects of International Tariffs
14:00-14:50 On the Distributional Effects of International Tariffs
Daniel Carroll (FRB of Cleveland) and Sewon Hur (FRB of Cleveland)*
Daniel Carroll (FRB of Cleveland) and Sewon Hur (FRB of Cleveland)*
Discussant: Axelle Ferriere (Paris School of Economics)
Discussant: Axelle Ferriere (Paris School of Economics)
14:50-15:40 A Model of Intermediation, Money, Interest, and Prices
14:50-15:40 A Model of Intermediation, Money, Interest, and Prices
Saki Bigio (UCLA)* and Yuliy Sannikov (Stanford)
Saki Bigio (UCLA)* and Yuliy Sannikov (Stanford)
Discussant: Dmitry Sergeyev (Bocconi University)
Discussant: Dmitry Sergeyev (Bocconi University)
15:40-16:00 Coffee break
15:40-16:00 Coffee break
16:00-16:50 Collateral Booms and Information Depletion
16:00-16:50 Collateral Booms and Information Depletion
Vladimir Asriyan (CREI)*, Luc Laeven (ECB) and Alberto Martin (ECB)
Vladimir Asriyan (CREI)*, Luc Laeven (ECB) and Alberto Martin (ECB)
Discussant: Edouard Challe (Ecole Polytechnique)
Discussant: Edouard Challe (Ecole Polytechnique)
19:00-20:30 Guided tour of Lecce
19:00-20:30 Guided tour of Lecce
20:30 Dinner in Lecce
20:30 Dinner in Lecce
Friday August 30th
Friday August 30th
09:00-09:50 A General Equilibrium Theory of Capital Structure
09:00-09:50 A General Equilibrium Theory of Capital Structure
Douglas Gale (New York University) and Piero Gottardi (University of Essex)*
Douglas Gale (New York University) and Piero Gottardi (University of Essex)*
Discussant: Michael Kumhof (Bank of England)
Discussant: Michael Kumhof (Bank of England)
09:50-10:40 Self-fulfilling debt crises with long stagnations
09:50-10:40 Self-fulfilling debt crises with long stagnations
Joao Ayres (Inter-American Development Bank), Gaston Navarro (FRB Board), Juan Pablo Nicolini (FRB of Minneapolis) and Pedro Teles (Banco de Portugal, Catolica Lisbon SBE)*
Joao Ayres (Inter-American Development Bank), Gaston Navarro (FRB Board), Juan Pablo Nicolini (FRB of Minneapolis) and Pedro Teles (Banco de Portugal, Catolica Lisbon SBE)*
Discussant: Chryssi Giannitsarou (University of Cambridge)
Discussant: Chryssi Giannitsarou (University of Cambridge)
10:40-11:00 Coffee break
10:40-11:00 Coffee break
11:00-11:50 Frictional intermediation in over-the-counter markets
11:00-11:50 Frictional intermediation in over-the-counter markets
Julien Hugonnier (EPFL), Benjamin Lester (FRB of Philadelphia) and Pierre-Olivier Weill (UCLA)*
Julien Hugonnier (EPFL), Benjamin Lester (FRB of Philadelphia) and Pierre-Olivier Weill (UCLA)*
Discussant: Liyan Shi (EIEF)
Discussant: Liyan Shi (EIEF)
11:50-13:00 Lunch
11:50-13:00 Lunch
13:00-13:50 Financial Frictions and the Wealth Distribution
13:00-13:50 Financial Frictions and the Wealth Distribution
Jesus Fernandez-Villaverde (University of Pennsylvania), Samuel Hurtado (Banco de Espana) and Nuno Galo (Banco de Espana)*
Jesus Fernandez-Villaverde (University of Pennsylvania), Samuel Hurtado (Banco de Espana) and Nuno Galo (Banco de Espana)*
Discussant: Davide Melcangi (FRB of New York)
Discussant: Davide Melcangi (FRB of New York)
13:50-14:40 Mismatch cycles
13:50-14:40 Mismatch cycles
Isaac Baley (Universitat Pompeu Fabra), Ana Figuereido Gomes (Erasmus University Rotterdam)* and Robert Ulbricht (Toulouse School of Economics)
Isaac Baley (Universitat Pompeu Fabra), Ana Figuereido Gomes (Erasmus University Rotterdam)* and Robert Ulbricht (Toulouse School of Economics)
Discussant: Regis Barnichon (FRB of San Francisco)
Discussant: Regis Barnichon (FRB of San Francisco)
14:40-15:00 Coffee break
14:40-15:00 Coffee break
15:00-15:50 Signalling Power and Equilibrium Markups
15:00-15:50 Signalling Power and Equilibrium Markups
Gaetano Gaballo (Banque de France, PSE)* and Luigi Paciello (EIEF) // ERC project //
Gaetano Gaballo (Banque de France, PSE)* and Luigi Paciello (EIEF) // ERC project //
Discussant: Isaac Baley (Universitat Pompeu Fabra)
Discussant: Isaac Baley (Universitat Pompeu Fabra)
16:00 Beach session at Lido Mar y sol, Rivabella (Ionian Sea)
16:00 Beach session at Lido Mar y sol, Rivabella (Ionian Sea)
Organizers:
Organizers:
Axelle Ferriere (Paris School of Economics and CNRS)
Axelle Ferriere (Paris School of Economics and CNRS)
Gaetano Gaballo (Banque de France, Paris School of Economics and CEPR)
Gaetano Gaballo (Banque de France, Paris School of Economics and CEPR)
Luigi Paciello (Einaudi Institute for Economics and Finance)
Luigi Paciello (Einaudi Institute for Economics and Finance)
Francesco Pappadà (Banque de France)
Francesco Pappadà (Banque de France)
Location
Location
Galatina is located at the heart of Salento, the peninsula at the southern end of the administrative region of Puglia, Italy. The region is well known for its natural landscapes, like the beaches on the Adriatic and Ionian Sea as well as for the rich Baroque architectural monuments. The closest airport is Brindisi, which is about 70km north of Galatina.
Galatina is located at the heart of Salento, the peninsula at the southern end of the administrative region of Puglia, Italy. The region is well known for its natural landscapes, like the beaches on the Adriatic and Ionian Sea as well as for the rich Baroque architectural monuments. The closest airport is Brindisi, which is about 70km north of Galatina.