Tsinghua Workshop in Macroeconomics 2017
June 16 - 18, 2017, Tsinghua University, Beijing, China
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Tsinghua Workshop in Macroeconomics 2017

June 16 - 18, 2017
Tsinghua University, Beijing

Keynote Speakers: Simon Gilchrist



Friday, June 16   

8:20-8:40           Registration
8:40-8:45           Opening Remarks


Morning session:

Chair: Yi Wen (Tsinghua University and St. Louis Fed.)

8:45-9:30       Lei Fang (Federal Reserve Bank of Atlanta), Rachel Ngai (London School of Economics),

                        Robert Duval Hernandez (University of Cyprus):

                           "Taxes and Market Hours -- the Role of Gender and Skill"

9:30-9:40 Discussion: Hao Jin (Xiamen University, Wang Yanan Institute)


9:45-10:30    Jose-Victor Rios-Rull (University of Pennsylvania), Satoshi Tanaka (University of Queensland):

                           "Sex Ratios and Long-Term Marriage Trends"

10:30-10:40 Discussion: Chao He (Shanghai University of Finance and Economics)


10:45-11:00      Coffee Break


11:00-12:00     Keynote Speech by Simon Gilchrist (Boston University and NBER):

                           “Inflation Dynamics and Financial Frictions”


12:00-1:30    Lunch    


Afternoon session:

Chair: Jinhui Bai (Tsinghua University and Washington State University)

1:30-2:15       Kartik Athreya (Federal Reserve Bank of Richmond), Felicia Ionescu (Federal Reserve Board),

                        Urvi Neelakantan (Federal Reserve Bank of Richmond), Ivan Vidangos (Federal Reserve Board):

                          "Investment Opportunities and the Sources of Lifetime Inequality"

2:15-2:25 Discussion: Dun Jia (Renmin University, Hanqing Institute)


2:30-3:15        Fatih Karahan (Federal Reserve Bank of New York), Serdar Ozkan (University of Toronto),

                        Jae Song (Social Security Administration):

                           "Sources of Inequality in Earnings Growth Over the Life Cycle"

3:15-3:25 Discussion: Rui Zhang (Capital University of Economics and Business, ISEM)


3:30-3:45      Coffee Break


3:45-4:30        Daniel Barczyk (McGill University), Sean Fahle (SUNY Buffalo),

                        Matthias Kredler (Universidad Carlos III Madrid):

                           "Why do People Leave Bequests? A Quantitative Exploration"

4:30-4:40 Discussion: Fudong Zhang (Tsinghua University, PBC School of Finance)


6:00-8:00        Conference Dinner


Saturday, June 17   

Morning session:

Chair: Qing Liu (Tsinghua University)

8:45-9:30      Guillaume Rocheteau (University of California, Irvine), Randall Wright (University of Wisconsin),

                        Sylvia Xiao (University of Wisconsin-Madison):

                           "Open Market Operations"

9:30-9:40 Discussion: Ping He (Tsinghua University, SEM)


9:45-10:30    Gauti B. Eggertsson (Brown University),Neil R. Mehrotra (Federal Reserve Bank of Minneapolis),

                        Jacob Robbins (Brown University):

                           "A Model of Secular Stagnation: Theory and Quantitative Evaluation"

10:30-10:45 Discussion: Feng Dong (Shanghai Jiao Tong University, An Tai College)


10:45-11:00     Coffee Break


11:00-11:45    Yang Jiao (Columbia University):

                           "When it rains, it pours: capital flows with twin external crises"

11:45-11:55 Discussion: Zhen Zhou (Tsinghua University, PBC School of Finance)


12:00-1:30    Lunch    


Afternoon session:

Chair: Min Ouyang (Tsinghua University)

1:30-2:15       Feng Dong (Shanghai Jiao Tong University), Yi Wen (Federal Reserve Bank of St. Louis):

                          "Liquidity Shortage and Financial Crisis: A Differential Approach"

2:15-2:25 Discussion: Zongye Huang (Capital University of Economics and Business, ISEM)


2:30-3:15      Bong Geun Choi (University of Chicago), Hyun Lee  (University of Connecticut):

                          "Does Financial Innovation Increase Inequality?:A Competitive Search Approach"

3:15-3:25 Discussion: Tianxiao Zheng (Shanghai Jiao Tong University, SAIF)


3:30-3:45      Coffee Break


3:45-4:30     Xiaodan Gao (National University of Singapore), Jake Zhao (Peking University HSBC Business School):

                           "R&D Dynamics and Corporate Cash"

4:30-4:40 Discussion: Jingyi Zhang (Shanghai Jiao Tong University, SAIF)


Sunday, June 18   

Morning session:

Chair: Wenlan Luo (Tsinghua University)

8:45-9:30       George Alessandria (University of Rochester and NBER), Horag Choi (Monash University),

                        Dan Lu (University of Rochester):

                           "Trade Integration and the Trade Balance in China"

9:30-9:40 Discussion: Yang Jiao (Columbia University)


9:45-10:30    Jie Cai (Shanghai University of Finance and Economics), Nan Li (International Monetary Fund),

                        Ana Maria Santacreu (Federal Reserve Bank of Saint Louis):

                           "Knowledge Diffusion and Trade Across Countries and Sectors"

10:30-10:40 Discussion: Meixin Guo (Tsinghua University, SEM)


10:45-11:00     Concluding Remarks and Discussions


12:00-1:30    Lunch