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37th Annual Federal Reserve Bank of St. Louis Fall Conference

October 11-12, 2012

All conference events will take place at the Federal Reserve Bank of St. Louis Gateway Conference Center, Sixth Floor

Thursday, October 11, 2012

12:00-12:30 P.M. Light lunch
12:30-12:45 P.M. Introductory remarks by Christopher Waller
Session I
12:45-2:45 P.M. "Some Unpleasant Properties of Log-Linearized Solutions when the Nominal Interest Rate is Zero"
Presenter:  Tony Braun, FRB Atlanta
Coauthors:  Yuichiro Waki, University of Queensland and Lena Koerber, London School of Economics
  "The Trend is the Cycle: Job Polarization and Jobless Recoveries"
Presenter:  Nir Jaimovich, Duke University
Coauthor:  Henry Siu, University of British Columbia
2:45-3:00 P.M Coffee Break
Session II
3:00-5:00 P.M. "Liquidity, Assets and Business Cycles"
Presenter:  Shouyong Shi, University of Toronto
  "Spatial Equilibrium with Unemployment and Wage Bargaining: Theory and Evidence"
Presenter:  Paul Beaudry, University of British Columbia
Coauthors:  David Green, University of British Columbia and Benjamin Sand, York University
5:00-5:15 P.M. Coffee Break
Session III
5:15-6:15 P.M. "On the Social Usefulness of Fractional Reserve Banking"
Presenter:  Chris Phelan, University of Minnesota and FRB Minneapolis
Coauthor:  V.V. Chari, University of Minnesota and FRB Minneapolis
6:15-7:00 P.M. Reception
7:00 P.M. Dinner with speech by James Bullard

Friday, October 12, 2012

8:30-9:00 A.M. Continental Breakfast
Session I
9:00-11:00 A.M "Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises"
Presenter:  Mark Aguiar Princeton University
Coauthors: Manuel Amador, Stanford, Gita Gopinath, Harvard, and Emmanuel Farhi, Harvard
  "The Market for OTC Credit Derivative"
Presenter:  Pierre-Olivier Weill, UCLA
Coauthors:  Andy Atkeson, UCLA and Andrea Eisfeldt, UCLA
11:00-11:15 A.M Coffee Break
Session II
11:15-12:15 P.M. "Overborrowing, Financial Crises and 'Macro-prudential' Policy"
Presenter:  Enrique Mendoza, University of Maryland
Coauthor:  Javier Bianchi, University of Wisconsin
12:15-1:30 P.M. Lunch
Session III
1:30-2:30 P.M. "Qualitative Easing: How it Works and Why it Matters"
Presenter:  Roger Farmer, UCLA
2:30-2:45 P.M. Coffee Break
Session IV
2:45-3:45 P.M. "Costly Labor Adjustment: Effects of China's Employment Regulations"
Presenter:  Russ Cooper, European University Institute
Coauthors:  Guan Gong, Shanghai University and Ping Yan, Peking University
3:45 P.M. Adjourn