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Seminar Series

The Research Division of the Federal Reserve Bank of St. Louis is sponsoring a Seminar Series on a wide variety of economic topics. Economists from across the country and around the world are invited to participate.

Unless otherwise noted, seminars will be held in the "Ted Balbach Conference Room" (formerly Research Conference Room), Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, at the corner of Broadway and Locust Street, St. Louis, MO. Seminars held at the Federal Reserve Bank of St. Louis are open to the public. If you wish to attend, you must contact us via email at at least 24 hours in advance. All attendees are required to go though a security screening and will be asked to show a valid photo ID.

Questions or suggestions should be directed to

2019 Seminar Series

Wed, Feb 20 12:00pm
Speaker: Violeta Gutkowski, Brown University
Host: Miguel Faria-e-Castro
"Sovereign Debt Restructuring and Recovery"

Thu, Feb 21 12:00pm
Speaker: Cristina Arellano, Federal Reserve Bank of Minneapolis
Host: Faria-e-Castro
"Sovereign Default Risk and Firm Heterogeneity"

Fri, Feb 22 2:00pm *
Speaker: David Rivers, Western University
Host: Sungki Hong
"The ABCs of Firm Heterogeneity: The Effects of Demand and Cost Differences on Exporting"

Tue, Feb 26 12:00pm
Speaker: Fabio Braggion, Tilburg University
Host: Riccardo DiCecio
"Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China"

Wed, Feb 27 12:00pm
Speaker: Axelle Ferriere, Paris School of Economics
Host: Miguel Faria-e-Castro
"Escaping the Losses from Trade: The Impact of Heterogeneity on Skill Acquisition"

Thu, Feb 28 12:00pm
Speaker: Loukas Karabarbounis, University of Minnesota
Host: Miguel Faria-e-Castro
"Inferring Inequality with Home Production"

Wed, Mar 06 12:00pm
Speaker: Rohan Kekre, The University of Chicago Booth
Host: Miguel Faria-e-Castro
"The Macroeconomics of the Greek Depression"

Wed, Mar 13 12:00pm
Speaker: Abdoulaye Ndiaye, Federal Reserve Bank of Chicago
Host: Miguel Faria-e-Castro
"Flexible Retirement and Optimal Taxation"

Mon, Mar 18 12:00pm
Speaker: Sungki Hong, Federal Reserve Bank of St. Louis
"Size-Based Tax Policies and Investment Dynamics"

Thu, Mar 21 12:00pm
Speaker: Karen Lewis, University of Pennsylvania-The Wharton School
Host: Miguel Faria-e-Castro
"The U.S. Equity Listing Decline and the Aggregate Economy"

Mon, Mar 25 12:00pm
Speaker: Yi Wen, Federal Reserve Bank of St. Louis
"Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi‐Linear Preferences"

Tue, Mar 26 12:00pm
Speaker: Neil Mehrotra, Brown University
Host: Maximiliano Dvorkin
"Debt Sustainability in a Low Interest Rate World"

Wed, Mar 27 12:00pm
Speaker: Guillermo Ordonez, University of Pennsylvania
Host: Miguel Faria-e-Castro
"Retirement in the Shadow (Banking)"

Fri, Mar 29 12:00pm
Speaker: Oksana Leukhina, Federal Reserve Bank of St. Louis
"Imperfect Information Transmission from Banks to Investors: Macroeconomic Implications"

Tue, Apr 02 12:00pm
Speaker: Matteo Benetton, University of California at Berkeley
Host: Miguel Faria-e-Castro
"Leverage Regulation and Market Structure: A Structural Model of the UK Mortgage Market"

Wed, Apr 03 12:00pm
Speaker: David Wiczer, Stony Brook University
Host: Fernando Martin
"Earnings Growth, Job Flows and Churn"

Thu, Apr 04 12:00pm
Speaker: Franҫois Gourio, Federal Reserve Bank of Chicago
Host: Miguel Faria-e-Castro
"Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia"

Wed, Apr 10 12:00pm
Speaker: Andrea Lanteri, Duke University
Host: Miguel Faria-e-Castro
"Credit Shocks and Equilibrium Dynamics in Consumer Durable Goods Markets"

Fri, Apr 12 12:00pm
Speaker: Edouard Schaal, CREI/Universitat Pompeu Fabra
Host: Miguel Faria-e-Castro
"Herding Cycles"

Mon, Apr 15 12:00pm
Speaker: Juan Pablo Nicolini, Federal Reserve Bank of Minneapolis
Host: Paulina Restrepo-Echavarria
"International Evidence on Long Run Money Demand"

Thu, Apr 18 12:00pm
Speaker: Felipe Saffie, University of Maryland
Host: Maximiliano Dvorkin
"Income and Substitution Effects of Capital Inflows: A Firm-Level Analysis"

Mon, Apr 22 12:00pm
Speaker: Diego Daruich, Federal Reserve Bank of St. Louis
"Universal Basic Income: A Good Idea? A Dynamic Assessment"

Wed, Apr 24 12:00pm
Speaker: Pierre-Olivier Weill, University of California-Los Angeles
Host: Paulina Restrepo-Echavarria
"A Theory of Participation in OTC and Centralized Markets"

Tue, Apr 30 12:00pm
Speaker: Julian Kozlowski, Federal Reserve Bank of St. Louis
"Uniform Pricing Within and Across Regions: New Evidence from Argentina"

Wed, May 01 12:00pm
Speaker: Ludwig Straub, Harvard University
Host: Miguel Faria-e-Castro
"Micro Jumps, Macro Humps: Monetary Policy and Business Cycles in an Estimated HANK Model"

Wed, May 08 12:00pm
Speaker: Maurizio Mazzocco, University of California-Los Angeles
Host: Miguel Faria-e-Castro
"Taxation and Household Decisions: an Intertemporal Analysis"

Thu, May 09 12:00pm **
Speaker: James Bullard and Guillaume Vandenbroucke, Federal Reserve Bank of St. Louis (Open to FRB employees only.)
"Demography as a Leading Factor in the Rise of Inequality"

Mon, May 13 12:00pm
Speaker: Guillaume Vandenbroucke, Federal Reserve Bank of St. Louis
"Comparative Advantage and Moonlighting"

Wed, May 15 12:00pm
Speaker: Pierre Yared, Columbia University
Host: Miguel Faria-e-Castro
"Fiscal Rules and Discretion under Limited Enforcement"

Fri, May 17 2:00pm *
Speaker: Jeffrey Smith, University of Wisconsin-Madison
Host: Oksana Leukhina
"Does Federally-Funded Job Training Work? Non-experimental Estimates of WIA Training Impacts Using Longitudinal Data on Workers and Firms"

Wed, May 22 12:00pm
Speaker: Adrien Auclert, Stanford University
Host: Miguel Faria-e-Castro
"Consumer Bankruptcy as Aggregate Demand Management"

Wed, May 29 12:00pm
Speaker: Nicola Limodio, Bocconi University
Host: Julian Kozlowski
"Liquidity Risk and Long-Term Finance: Evidence from a Natural Experiment"

Thu, Jun 06 12:00pm
Speaker: Ricardo Lagos, New York University
Host: Miguel Faria-e-Castro
"On Money as a Medium of Exchange in Near-Cashless Credit Economies"

Wed, Jun 12 12:00pm
Speaker: Miguel Faria-e-Castro, Federal Reserve Bank of St. Louis
"A Quantitative Analysis of Countercyclical Capital Buffers"

Thu, Jun 20 12:00pm
Speaker: Fernando Leibovici, Federal Reserve Bank of St. Louis
"Firm-Level Credit Ratings and Default in the Great Recession: Theory and Evidence"

Fri, Jun 21 12:00pm
Speaker: Alexander Monge-Naranjo, Federal Reserve Bank of St. Louis
"Global Imbalances and Industrial Revolutions"

Mon, Jun 24 12:00pm
Speaker: William Dupor, Federal Reserve Bank of St. Louis
"The Technology Multiplier for Employment"

Mon, Jul 01 12:00pm
Speaker: Marek Kapička, CERGE-EI
Host: Carlos Garriga
"Organization of Knowledge and Taxation"

Tue, Jul 02 12:00pm
Speaker: Wei Cui, University College London
Host: Yi Wen
"A Ramsey Theory of Low Interest Rates"

Wed, Jul 10 12:00pm
Speaker: Maximiliano Dvorkin, Federal Reserve Bank of St. Louis
"Occupational Choice and the Dynamics of Human Capital, Inequality and Growth"

Tue, Jul 16 12:00pm
Speaker: Don Schlagenhauf, Federal Reserve Bank of St. Louis
"The Conquest of the Homeownership Dream: 1940-1960"

Mon, Jul 22 12:00pm
Speaker: Chen Lian, Massachusetts Institute of Technology
Host: Julian Kozlowski
"Consumption with Imperfect Perception of Wealth"

Tue, Jul 23 12:00pm
Speaker: Francisco Buera, Washington University in St. Louis
Host: Miguel Faria-e-Castro
"Economics of Liquidity Traps: Paradoxical?"

Tue, Jul 30 12:00pm
Speaker: Tiago Tavares, ITAM
Host: Miguel Faria-e-Castro
"Investment Slumps during Financial Crises: The Role of Credit Constraints"

Thu, Aug 01 12:00pm
Speaker: Eunhee Lee, University of Maryland
Host: Maximiliano Dvorkin
"Trade, Jobs, and Worker Welfare"

Mon, Aug 05 12:00pm
Speaker: Michael Owyang, Federal Reserve Bank of St. Louis
"Contagious Switching"

Wed, Aug 07 12:00pm
Speaker: Scott Baker, Kellogg School of Management-Northwestern University
Host: Julian Kozlowski
"The Riskiness of Owning vs. Renting Housing"

Mon, Aug 19 12:00pm
Speaker: Erin Wolcott, Middlebury College
Host: William Dupor
"Employment Inequality: Why Do the Low-Skilled Work Less Now?"

Thu, Aug 22 12:00pm
Speaker: Nelson Lind, Emory University
Host: Ana Maria Santacreu
"Global Innovation and Knowledge Diffusion"

Mon, Aug 26 12:00pm
Speaker: Deniz Aydin, Washington University
Host: Miguel Faria-e-Castro
"Decomposing Present Value Effects: Evidence from a Large-Scale Restructuring"

Tue, Aug 27 12:00pm
Speaker: Fatih Guvenen, University of Minnesota
Host: Paulina Restrepo-Echavarria
"Use it or Lose it: Efficiency Gains from Wealth Taxation"

Thu, Aug 29 12:00pm
Speaker: YiLi Chien, Federal Reserve Bank of St. Louis
"The Determination of Optimal Public Debt under Both Aggregate and Idiosyncratic Uncertainty"

Fri, Sep 13 2:00pm *
Speaker: Jeremy Lise, University of Minnesota
Host: Oksana Leukhina
"Production and Learning in Teams"

Tue, Sep 17 12:00pm
Speaker: Dmitry Mukhin, Yale University
Host: Fernando Leibovici
"Mussa Puzzle Redux"

Thu, Sep 19 12:00pm
Speaker: Romina Ruprecht, University of Basel
"On the Negatives of Negative Interest Rates and the Positives of Exemption Thresholds"

Fri, Sep 20 12:00pm
Speaker: Subhayu Bandyopadhyay, Federal Reserve Bank of St. Louis
"Truncated Productivity Distributions and Trade Margins"

Tue, Sep 24 12:00pm
Speaker: Ana Maria Santacreu, Federal Reserve Bank of St. Louis
"What Drives International Technology Transfers? A Gravity Approach"

Thu, Sep 26 12:00pm
Speaker: Alessandra Fogli, Federal Reserve Bank of Minneapolis
Host: Miguel Faria-e-Castro
"The End of the American Dream? Inequality and Segregation in US Cities"

Fri, Sep 27 2:00pm *
Speaker: Jorge Balat, University of Texas at Austin
Host: Maximiliano Dvorkin
"Heterogeneous Firms: Skilled-Labor Productivity and the Destination of Exports"

Mon, Sep 30 12:00pm
Speaker: Guido Menzio, New York University
Host: Paulina Restrepo-Echavarria
"Declining Search Frictions, Unemployment and Growth"

Wed, Oct 02 2:00pm
Speaker: Narayana Kocherlakota, University of Rochester
Host: Carlos Garriga
"21st Century Macro"

Thu, Oct 03 12:00pm
Speaker: Nicolas Caramp, University of California-Davis
Host: Carlos Garriga
"Wealth Effects and the Transmission Mechanism of Monetary Policy"

Fri, Oct 04 12:00pm
Speaker: Fernando Martin, Federal Reserve Bank of St. Louis
"Treasury vs Fed"

Mon, Oct 07 12:00pm
Speaker: Stephanie Schmitt-Grohé, Columbia University
Host: Miguel Faria-e-Castro
"Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks"

Tue, Oct 15 12:00pm
Speaker: Matias Cortes, York University
Host: Alexander Monge-Naranjo
"Rising Concentration and Wage Inequality"

Thu, Oct 17 12:00pm
Speaker: Greg Howard, University of Illinois at Urbana-Champaign
Host: Don Schlagenhauf
"Regional Divergence and House Prices"

Fri, Oct 18 2:00pm *
Speaker: Jing Li, MIT Sloan
Host: Sungki Hong
"Compatibility and Investment in the U.S. Electric Vehicle Market"

Mon, Oct 21 12:00pm
Speaker: Alberto Cavallo, Harvard Business School
Host: Julian Kozlowski
"Tariff Passthrough at the Border and at the Store: Evidence from U.S. Trade Policy"

Wed, Oct 23 12:00pm
Speaker: Walker Ray, Federal Reserve Bank of San Francisco
Host: Miguel Faria-e-Castro
"Monetary Policy and the Limits to Arbitrage: Insights from a New Keynesian Preferred Habitat Model"

Fri, Oct 25 2:00pm *
Speaker: Pascual Restrepo, Boston University
Host: Maximiliano Dvorkin
"Uneven Growth: Automation's Impact on Income and Wealth Inequality"

Mon, Oct 28 12:00pm
Speaker: Oleksiy Kryvtsov, Bank of Canada
Host: William Dupor
"Multi-Product Pricing: Theory and Evidence From Large Retailers in Israel"

Thu, Oct 31 12:00pm
Speaker: Sanjay R. Singh, University of California, Davis
Host: Miguel Faria-e-Castro
"The Long-Run Effects of Monetary Policy"

Mon, Nov 04 12:00pm
Speaker: Gaston Navarro, Board of Governors of the Federal Reserve System
Host: Miguel Faria-e-Castro
"Monetary Operating Procedures in the Fed Funds Market: Theory, Evidence, and Policy Analysis"

Wed, Nov 06 12:00pm
Speaker: Andrew Abel, The Wharton School of the University of Pennsylvania
Host: Miguel Faria-e-Castro
"The Impact of Financial Constraints on Investment, Dividends, and q"

Thu, Nov 07 12:00pm
Speaker: Carlos Garriga, Federal Reserve Bank of St. Louis
"A Dynamic Choice Model of College Enrollment, Academic Progression, and Completion with Endogenous Risk"

Fri, Nov 08 12:00pm
Speaker: Eugenio Miravete, University of Texas at Austin
Host: Carlos Garriga
"Welfare Consequences of Nominal Excise Taxation"

Tue, Nov 12 12:00pm
Speaker: Michael McCracken, Federal Reserve Bank of St. Louis
"Tests of Conditional Predictive Ability: Some Simulation Evidence"

Thu, Nov 14 12:00pm
Speaker: Thomas Herndon, Loyola Marymount University
Host: William Dupor
"Misrepresentation in Securitized Auto Loans"

Fri, Nov 15 2:00pm *
Speaker: Paul Scott, New York University Stern School of Business
Host: Sungki Hong
"Competition and Investment in Mobile Telecommunication"

Mon, Nov 18 12:00pm
Speaker: Paulina Restrepo-Echavarria, Federal Reserve Bank of St. Louis
"Optimal Wage Setting Under Targeted Search"

Tue, Nov 19 12:00pm
Speaker: Christopher Neely, Federal Reserve Bank of St. Louis
"Unconventional Monetary Policy and the Behavior of Shorts"

Fri, Nov 22 12:00pm
Speaker: Angela Vossmeyer, Claremont McKenna College
Host: David Wheelock
"Systemic Risk and the Great Depression"

Wed, Dec 11 12:00pm
Speaker: Manuel Amador, Federal Reserve Bank of Minneapolis
Host: Miguel Faria-e-Castro
"Foreign Reserve Management at Zero Interest Rates"

Mon, Dec 16 12:00pm
Speaker: Juan Sanchez, Federal Reserve Bank of St. Louis
"Consumption in the Great Recession: The Financial Distress Channel"

Tue, Dec 17 12:00pm
Speaker: David Wheelock, Federal Reserve Bank of St. Louis
"Interbank Connections, Contagion and Bank Distress in the Great Depression"

Thu, Dec 19 12:00pm
Speaker: B. Ravikumar, Federal Reserve Bank of St. Louis

*Labor Workshop Seminar, joint with the Department of Economics, Washington University in St. Louis. These seminars will take place at the Federal Reserve Bank of St. Louis.

**Open to FRB employees only

Past Seminars