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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC

 

Conference on Research in Income and Wealth

 

Wealth, Financial Intermediation and the Real Economy

Charles Hulten, Michael Palumbo, and Marshall Reinsdorf, Organizers

 

November 12-13, 2010

 

Federal Reserve Board

Martin Building

20th and C Streets, NW

Washington, DC

 

PROGRAM

 

Friday, November 12:

 

 

8:15 am

Continental Breakfast

 

 

8:45 am

Welcome and Brief Opening Remarks by Organizers

 

 

9:00 am

Chair: J. Steven Landefeld, Bureau of Economic Analysis

 

 

 

Matthew Eichner, Donald Kohn, and Michael Palumbo, Federal Reserve Board

 

Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Should They Change?

 

 

 

Stephen Cecchetti, Bank for International Settlements and NBER

 

Ingo Fender and Patrick McGuire, Bank for International Settlements

 

Toward a Global Risk Map

 

 

 

Barry Bosworth, Brookings Institution

 

Integrating the Economic Accounts

 

 

10:30 am

Break

 

 

11:00 am

Leonard Nakamura, Federal Reserve Bank of Philadelphia

 

Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions

 

 

 

Discussant: Joshua Gallin, Federal Reserve Board

 

 

11:45 am

CRIW Membership Meeting

 

 

12:15 pm

Lunch

 

 

1:30 pm

Chair: William Wascher, Federal Reserve Board

 

 

 

Dominique Durant, Banque de France

 

David Lenze and Marshall Reinsdorf, Bureau of Economic Analysis

 

Adding Actuarial Information on Defined Benefit Pension Plans and Social Security to the National Accounts

 

 

 

Discussant: Kent Smetters, University of Pennsylvania and NBER

 

 

2:15 pm

Break

 

 

2:30 pm

Rajashri Chakrabarti, Donghoon Lee, Wilbert van der Klaauw, and Basit Zafar, Federal Reserve Bank of New York

 

Household Debt and Saving During the 2007 Recession

 

 

 

Jesse Bricker, Brian Bucks, Arthur Kennickell, Traci Mach, and Kevin Moore, Federal Reserve Board

 

Drowning or Weathering the Storm? Changes in Family Finances from 2007 to 2009   not to be posted

 

 

 

Discussant/Presenter: Edward Wolff, New York University and NBER

 

 

4:15 pm

Break

 

 

4:30 pm

Roundtable Discussion:

 

Chair: James Poterba, MIT and NBER

 

 

 

Richard Berner, Morgan Stanley

 

Markus Brunnermeier, Princeton University and NBER

 

Robert Hall, Stanford University and NBER

 

 

5:45 pm

Reception

 

 

6:30 pm

Dinner

 

 

Saturday, November 13:

 

 

8:15 am

Continental Breakfast

 

 

8:45 am

Chair: Martin Baily, Brookings Institution

 

 

 

Emine Boz, International Monetary Fund

 

Enrique Mendoza, University of Maryland and NBER

 

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis

 

 

 

Viral Acharya, New York University and NBER

 

Heitor Almeida and Murillo Campello, University of Illinois and NBER

 

Aggregate Risk and the Choice between Cash and Lines of Credit

 

 

 

Discussants: Matteo Iacoviello, Federal Reserve Board

 

Atif Mian, UC, Berkeley and NBER

 

 

10:15 am

Break

 

 

10:45 am

Charles Steindel, New Jersey Department of the Treasury

 

The Financial Crisis and the Measurement of Financial Sector Activity

 

 

 

Carol Corrado, The Conference Board

 

Charles Hulten, University of Maryland and NBER

 

Connecting the Supply and Demand Sides of the Economy: Productivity, Asset Valuation, and Tobin′s ″q″

 

 

 

Discussants: Susanto Basu, Boston College and NBER

 

Daniel Sichel, Federal Reserve Board

 

 

12:15 pm

Lunch

 

Speaker: Carmen Reinhart, University of Maryland and NBER

 

 

1:15 pm

Chair: J. Steven Landefeld, Bureau of Economic Analysis

 

 

 

Hui Tong, International Monetary Fund

 

Shang-Jin Wei, Columbia University and NBER

 

The Misfortune of Non-Financial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks

 

 

 

Discussant: Deborah Lucas, Congressional Budget Office and NBER

 

 

2:15 pm

Break

 

 

2:30 pm

Stephanie Curcuru and Charles Thomas, Federal Reserve Board

 

The U.S. Net Income Puzzle

 

 

 

Christopher Gohrband and Kristy Howell, Bureau of Economic Analysis

 

U.S. International Financial Flows and the U.S. Net Investment Position: New Perspectives Arising from New International Standards

 

 

 

Discussant: Ralph Kozlow, International Monetary Fund

 

 

3:30 pm

Adjourn