Tsinghua Workshop in Macroeconomics 2012

June 17-19, 2012
SEM, Tsinghua University

Venue: Room 401, Shunde Building

Keynote Speakers: Chad Jones and Robert Shimer

Sunday, June 17      
8:30-8:50           Registration
8:50-9:00           Welcoming remark

Morning session chair: Min Ouyang (Tsinghua University)

9:00-10:00       Mark Huggett (Georgetown University), Greg Kaplan (University of Pennsylvania):

                           "Money Value of a Man"

10:00-11:00     Hyeok Jeong (KDI School of Public Policy), Yong Kim (Yonsei University),                                                                Iourii Manovskii (University of Pennsylvania):

                           "Price of Experience"

11:00-11:15     Coffee Break

11:15-12:15     Keynote Speech by Chad Jones (Stanford GSB):

                           "Beyond GDP, Welfare across Countries and Time"

12:15-1:45    Lunch    

Afternoon session chair: Qing Liu (Tsinghua University)

1:45-2:45       Chris Edmond (University of Mekbourne), Virgiliu Midriganz (Federal Reserve Bank of                                         Minneapolis), Daniel Yi Xu (Duke University):

                          "Competition, Markups and the Gains from International Trade"

2:45-3:45       Yang Jiao (Tsinghua University) and Yi Wen (Federal Reserve Bank of St. Louis and Tsinghua                       University):

                          “Capital, Finance and Trade Collapse”

3:45-4:00      Coffee Break

4:00-5:00        Yili Chien (Federal Reserve Bank of St. Louis):

                           "The Risk Premium and Long-Run Global Imbalances"

6:00              Conference Dinner

Monday, June 18

Morning session chair: Xue Qiao (Tsinghua University)

9:00-10:00       Loukas Karabarbounis and Brent Neiman (University of Chicago):

                          “Declining Labor Shares and Global Rise of Corporate Savings”

10:00-11:00      Robert McCann, Xianwen Shi, Aloysius Siow and Ronald Wolthoff (University of Toronto):

                          "Becker Meets Ricardo: Multisector Matching with Social and Cognitive Skills"

11:00-11:15     Coffee Break

11:15-12:15     Keynote Speech by Robert Shimer (University of Chicago):

                           "Markets with Multidimensional Private Information"

12:15-1:45    Lunch    

Afternoon session chair: Bing Li (Tsinghua University)

1:45-2:45       Chun Chang (Shanghai Advanced Institute of Finance), Zheng Liu and Mark Spiegel (Federal                       Reserve Bank of San Francisco):

                           "Optimal Chinese Monetary Policy under Low Global Interest Rates"

2:45-3:45       Saroj Bhattarai (Pennsylvania State University)，Jae Won Lee (Rutgers University) and Woong                       Yong Park (University of Hong Kong):

                           "Policy Regimes, Policy Shifts, and U.S. Business Cycles"

3:45-4:00      Coffee Break

4:00-5:00       Min Ouyang (Tsinghua University):

                          “Pro-cyclical Aggregate R&D: Timing or Propagation?”

Tuesday, June 19

Morning session chair: Yuan Xu (Tsinghua University)

9:00-10:00     Chadwick C. Curtis, Steven Lugauer and Nelson C. Mark (University of Notre Dame):

                           "Demographic Patterns and Household Saving in China"

10:00-11:00    Pengfei Wang (Hong Kong University of Science and Technology), Yi Wen (Federal Reserve Bank                        of St. Louis and Tsinghua University) and Zhiwei Xu (HK University of Science and Technology):

                           "Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach"

11:00-11:15     Coffee Break

11:15-12:15     Christophe Chamley (Boston University):

                           "Demand Creates Its Own Supply"

12:15-2:00    Lunch    

2:00-6:00      Tour