The 6th annual Dynare Conference will be held in Helsinki on June 3-4, 2010. The conference is organised by the Bank of Finland together with DSGE-net and the Dynare project at the CEPREMAP.
Organizers: Michel Juillard (Bank of France and CEPREMAP), Juha Kilponen (ECB and Bank of Finland), Antti Ripatti (Bank of Finland) and Jouko Vilmunen (Bank of Finland).
Wednesday 2 June
18.00 | Get together and buffet dinner |
18.00–19.00
Presentation
|
Houtan Bastani, Michel Juillard and Sébastien Villemot:
Dynare Questions and Answers
Sébastien Villemot:
Recent Dynare developments
|
Thursday 3 June
8.45 | Opening |
9.00–11.00 | Parallel sessions A |
Session A1 | Fiscal policy |
(1)
|
*Cristina Badarau & Grégory Levieuge:
Macroeconomic policies to mitigate the financial heterogeneity in the euro area
Discussant: Martin Kliem
|
(2)
|
Martin Kliem:
Implementable fiscal policy rules
Discussant: Paul McNelis
|
(3)
|
*Massimiliano Pisani & Lorenzo Forni:
Fiscal policy in open economies: estimates for the euro area
Discussant: Cristina Badarau
|
Session A2 | Housing and collateral constraints |
(1)
|
Ivan Jaccard:
Asset pricing and housing supply in a production economy
Discussant: Tomi Kortela
|
(2)
|
Tomi Kortela:
Do credit shocks matter for aggregate consumption?
Discussant: Galo Nuño
|
Session A3 | Identification |
(1)
|
*Marco Ratto & Nikolai Iskrev:
Computational advances in analyzing identification of DSGE models
Discussant: František Brázdik
|
(2)
|
Michal Andrle:
Note on identification patterns in DSGE models
Discussant: Marco Ratto
|
(3)
|
Efrem Castelnuovo:
Monetary policy shocks, Cholesky identification and DNK models; an empirical investigation for the U.S.
Discussant: Michal Andrle
|
11.00–11.30 | Coffee break |
11.30–12.30 | Plenary session |
|
Fabio Canova:
Measurement with some theory: A new approach to evaluate business cycle models
|
13.00–14.00 | Lunch |
14.00–16.00 | Parallel sessions B |
Session B1 | Risk premia |
(1)
|
*Stephan Fahr & Mirko Abbritti:
Macroeconomic implications of downward wage rigidities
Discussant: Scott Davis
|
(2)
|
Scott Davis:
The adverse feedback loop and the real effects of financial sector uncertainty
Discussant: Stephan Fahr
|
Session B2 | Oil |
(1)
|
*Galo Nuño & Anton Nakov:
Oilgopoly: A general equilibrium model of the oil-macroeconomy nexus
Discussant: Michel Juillard
|
(2)
|
*Arnoud Stevens & Gert Peersman:
Oil demand and supply shocks: An analysis in an estimated DSGE model
Discussant: Massimiliano Pisani
|
Session B3 | Inflation |
(1)
|
*Magali Marx & Jean Barthélemy:
A discrete monetary policy framework: An application to the Japanese case
Discussant: Pablo Burriel
|
(2)
|
*Pablo Burriel & Luis J. Álvarez:
Micro-based estimates of heterogeneous pricing rules: The United States vs euro area
Discussant: Efrem Castelnuovo
|
(3)
|
*Antti Ripatti & Martin Ellison & Pentti Saikkonen & Markku Lanne:
Non-causal inflation
Discussant: Christian Matthes
|
16.00–16.30 | Coffee break |
16.30–18.30 | Parallel sessions C |
Session C1 | Banks and the macroeconomy |
(1)
|
*Pawel Zabczyk & Martin Andreasen & Marcelo Ferman:
The business cycle implications of bank's maturity transformation
Discussant: Hongru Zhang
|
(2)
|
*Olivier Pierrard & Gregory de Walque:
Banking shock and monetary reactions in a New-Keynesian model
Discussant: Marcel Ferman
|
(3)
|
Hongru Zhang:
On the role of financial sector shocks to aggregate fluctuations
Discussant: Olivier Pierrard
|
Session C2 | Monetary policy and beliefs |
(1)
|
Gabriela Best:
Policy preferences and policymakers' beliefs: The causes of the Great Inflation in the U.S.
Discussant: Juha Kilponen
|
(2)
|
*Paolo Gelain & Arnab Bhattacharjee:
Forecast performance of the FOMC: A Bayesian analysis
Discussant: Martin Ellison
|
(3)
|
Christian Matthes:
Figuring out the Fed – beliefs about policymakers and gains from transparency
Discussant: Gabriela Best
|
Session C3 | Regime switch models |
(1)
|
František Brázdik:
Announced regime switch: Optimal policy for transition period
Discussant: Martina Cecioni
|
(2)
|
*Paul McNelis & K. Chow:
Need Singapore fear floating: A DSGE-VAR approach
Discussant: Markus Haavio
|
19.00–22.00 | Conference Dinner at Villa Kokkonen |
Friday 4 June
9.00–11.00 | Parallel sessions D |
Session D1 | Non-linear methods |
(1)
|
Martin Andreasen:
Non-linear DSGE models and the optimized particle filter
Discussant: Ingvar Strid
|
(2) |
*Ingvar Strid & Paolo Giordani & Robert Kohn:
Adaptive hybrid MCMC for DSGE models
Discussant: Martin Andreasen
|
(3)
|
*Pawel Zabczyk & Martin Andreasen:
An efficient method of computing higher order bond price perturbation approximations
Discussant: Tarik Ocaktan
|
Session D2 | Investments and business cycle fluctutations |
(1)
|
*Martin Seneca & Francesco Furlanetto:
New perspectives on depreciation shocks as a source of business cycle fluctuations
Discussant: Antti Ripatti
|
(2)
|
*Takushi Kurozumi & Yasuo Hirose:
Do investment-specific technological changes matter for business fluctuations: Evidence from Japan
Discussant: Kai Christoffel
|
(3)
|
Hanna Freystätter:
Financial frictions and disturbances in Finland
Discussant: Takushi Kurozumi
|
Session D3 | Labour markets |
(1)
|
*Juuso Vanhala & Stephan Fahr:
Offshoring and domestic labour markets: A matching model of outsourcing
Discussant: Francesco Furlanetto
|
(2)
|
*Renato Faccini & Stephen Millard & Francesco Zanetti:
Wage rigidities in an estimated DSGE model of the UK labour market
Discussant: Arnoud Stevens
|
11.00–11.30 | Coffee break |
11.30–12.30 | Plenary session |
|
Thomas J. Sargent:
Career length: Effects of curvature of earnings profiles, earnings shocks, and social security
|
13.00–14.00 | Lunch |
14.00–16.00 | Parallel sessions E |
Session E1 | Monetary transmission and business cycles in the euro area |
(1)
|
*Martina Cecioni & Stefano Neri:
The monetary transmission mechanism in the euro area: Has it changed and why?
Discussant: Ivan Jaccard
|
(2)
|
*Kai Christoffel & Günter Coenen & Anders Warne:
Forecasting with DSGE Models
Discussant: Paolo Gelain
|
(3)
|
*Francesco Furlanetto & Martin Seneca:
Investment-specific shock and consumption
Discussant: Hanna Freystätter
|
Session E2 | Zero lower bound |
(1)
|
Ragna Alstadheim:
The zero lower bound and neo-classical Phillips curve
Discussant: Pascal Jacquinot
|
(2)
|
Rossana Merola:
Financial accelerator and the zero lower bound on interest rates
Discussant: Ragna Alstadheim
|
(3)
|
*Pascal Jacquinot & Sandra Gomes & Ricardo Mestre & Joao Sousa:
Global policy and the zero lower bound in a large-scale DSGE model
Discussant: Rossana Merola
|
Session E3 | New directions for research |
(1)
|
Galo Nuño:
Optimal research and development expenditure: a general equilibrium approach
Discussant: Tanja Tanayama
|
(3)
|
Tarik Ocaktan:
Can lower order perturbation methods accurately describe wealth dynamics
Discussant: Pawel Zabczyk
|
16.00 | End of the conference |