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Groupe d'Étude Canadien en Macroéconomie (GECM)

CONFÉRENCE ANNUELLE
Market Imperfections and Macroeconomic Reality

Les 5 et 6 novembre 2004

Auberge des Gouverneurs
1415 rue St-Hubert
Montréal, Québec, Canada

PROGRAMME


Les présentateurs auront 25 minutes et les commentateurs 10 minutes, ce qui laissera 10 minutes aux présentateurs
pour répondre et pour les questions du public.

Vendredi 5 novembre 2004

9h00-10h30
Session 1:
Business Cycles
Présidence: Steven Ambler (UQAM)

David ANDOLFATTO (Simon Fraser University), Glen MACDONALD (Washington University)
"Jobless Recoveries"
Commentateur: Jonas FISHER (Federal Reserve Bank of Chicago)

Paul BEAUDRY
(U. of British Columbia), Franck PORTIER (U. de Toulouse)
"Stock Prices, News, and Economic Fluctuations"
Commentateur: Huw LLOYD-ELLIS (Queen's University)

Pause café (10h30-10h45)

10h45-12h15
Session 2:
Monetary Theory
Présidence: André Kurmann (UQAM)

Stephen WILLIAMSON (University of Iowa)
"Search, Limited Participation, and Monetary Policy"
Commentateur: Ricardo LAGOS (New York University)

Miguel MOLICO
(U. of Western Ontario), Yahong ZHANG (U. of Western Ontario)
"Monetary Policy and the Distribution of Money and Capital"
Commentateur: Miguel FAIG (University of Toronto)

Lunch (12h15-14h00)

14h00-15h30
Session 3: Monetary Policy
(commanditée par le Département de Recherche de la Banque du Canada)

Présidence: Pierre Duguay (Banque du Canada)

Randall WRIGHT(University of Pennsylvania), Guillaume ROCHETEAU (Fed. Reserve Bank of Cleveland)
"Inflation and Welfare in Models with Trading Frictions"
Commentateur: Peter IRELAND (Boston College)

Henry SIU
(U. of British Columbia)
"Time Consistent Monetary Policy with Endogenous Price Rigidity"
Commentateur: Nooman REBEI (Bank of Canada)

Pause café (15h30-15h45)

15h45-17h15
Session 4: Shocks and Transmission Mechanisms
Présidence: Louis Phaneuf (UQAM)

Patrick J. KEHOE (University of Minnesota), V. V. CHARI (University of Minnesota), and Ellen R. MCGRATTAN (Federal Reserve Bank of Minneapolis)
"Are Structural VARs Useful Guides for Developing Business Cycle Theories?"
Discussant: Christian ZIMMERMANN (University of Connecticut)

Philippe MARTIN (Université de Paris 1), Giancarlo CORSETTI (European University Institute), Paolo PESENTI (Fed. Reserve Bank of New York)
"Productivity, spillovers, real exchange rates: and the «home market effect» elements for a general equilibrium analysis"
Commentateur: Hafedh BOUAKEZ (HEC Montréal)



Samedi 6 novembre 2004

9h00-10h30
Session 5: Labor 1
Présidence: Stéphane Pallage (UQAM)

Russell Cooper (University of Texas at Austin), John HALTIWANGER (University of Maryland), Jonathan WILLIS (Federal Reserve Bank of Kansas City)
"Dynamics of Labor Demand: Evidence from Plant-Level Observations and Aggregate Implications"
Commentateur: Paul STORER (Western Washington U.)

Rui CASTRO
(Université de Montréal), Daniele COEN-PIRANI (Carnegie-Mellon University)
"Why Have Aggregate Skilled Hours Become so Cyclical Since the Late 1980s?"
Commentateur: Scott SCHUH (Federal Reserve Bank of Boston)


Pause café (10h30-10h45)

10h45-11h30
Session 6: Labor 2

Présidence: Étienne Wasmer (UQAM)

Martin GERVAIS (U. of Western Ontario), Igor LIVSHITS (U. of Western Ontario), Césaire MEH (Bank of Canada)
"Uncertainty and the Specificity of Human Capital"
Commentateur: Ed NOSAL (Federal Reserve Bank of Cleveland)


11h40-13h15
Lunch et présentation spéciale
(commanditée par Analysis Group)

Présidence: Étienne WASMER (UQAM)

Christopher PISSARIDES (London School of Economics and Political Science), L Rachel Ngai (London School of Economics and Political Science)
"Structural Change in a Multi-Sector Model of Growth"


13h15-14h45
Session 7: Topics in Market Imperfections

Présidence: Samuel Danthine (UQAM)

Mark WRIGHT (Stanford University), Esteban ROSSI-HANSBERT (Stanford University)
"Firm Size Dynamics in the Aggregate Economy"
Commentateur: Antonio FALATO (HEC Montréal)

Pierre CAHUC
(Université de Paris 1), Yann ALGAN (U.de Paris 1)
"Job Protection: the Macho Hypothesis"
Commentateur: Jose-Victor RIOS-RULL (University of Pennsylvania)


Pause café (14h45-15h00)

15h00-16h30
Session 8: Informational Frictions and Expectations
Présidence: Pierre Cahuc (Université de Paris-I))

James BULLARD (Federal Reserve Bank of St. Louis), George EVANS (University of Oregon), Seppo HONKAPOHJA (University of Helsinki)
"Near-Rational Exuberance"
Commentateur: Francisco RUGE-MURCIA (Université de Montréal)


Oleksiy KRYVTSOV
(University of Minnesota and Bank of Canada)
"Information Flows and Aggregate Persistence"
Commentateur: Hashmat KHAN (Bank of England)