Search frictions and aggregate dynamics

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Bank of Finland, CEPR and Philadelphia Fed jointly organize a two-day conference on
Search Frictions and Aggregate Dynamics
18–19 October 2012 in Helsinki
 ​​ ​
 

 Programme

 
TAB WEBPART
 

 Thursday 18 October 2012

 
8.30–9.00​ Registration, coffee
9.00–9.15 Welcome by the Bank of Finland
Jouko Vilmunen, Head of Research​
9.15–11.15 Session I​ Aspects of labour market dynamics
Chair​ Jouko Vilmunen, Bank of Finland​
Paper
Presentation​
Labour market participation, unemployment and monetary policy
Author(s) Alessia Campolmi, Central European University & Magyar Nemzeti Bank
Stefano Gnocchi, Universitat Autònoma de Barcelona)
Discussant​ Christian Haefke, Institute for Advanced Studies, Vienna
Paper
Presentation​
Threatening to offshore in a search model of the labour market​ 
Author(s)​ David Arseneau, Federal Reserve Board
Sylvain Leduc, Federal Reserve Bank of San Francisco)
Discussant​ Juuso Vanhala, Bank of Finland​
11.15–11.30 Coffee break
11.30–12.30​ Paper
Presentation​
Unemployment and market size ​
Author(s)​ Martin Ellison, University of Oxford
Godfrey Keller, University of Oxford
Kevin Roberts, University of Oxford
Margaret Stevens, University of Oxford​
Discussant​ Marcel Jansen, Universidad Autónoma de Madrid​
12.30–14.00​ Lunch at the Bank of Finland Personnel Club
14.00–15.00 Session II Re-allocation and aggregate dynamics
Chair​ Martin Ellison, University of Oxford​
Paper
Presentation​
Mismatch shocks and unemployment during the Great Recession
 
Author(s) Francesco Furlanetto, Norges Bank
Nicolas Groshenny, Reserve Bank of New Zealand
Discussant​ Shigeru Fujita, Federal Reserve Bank of Philadelphia​
15.00–15.30 Coffee break
15.30–17.30  Paper
Presentation​
Equilibrium intermediation and resource allocation with a frictional credit market
Author(s)​ José V. Rodriguez Mora, University of Edinburgh & CEPR
Christian Bauer, LMU Munich
Discussant​ James Costain, Bank of Spain​
Paper
Presentation​
News and financial intermediation in aggregate and sectoral fluctuations 
Author(s)​ Christoph Görtz, University of Birmingham
John Tsoukalas, University of Glasgow
Discussant​ Kai Christoffel, European Central Bank​
19.00–22.00  Dinner at the Bank of Finland's Banqueting Hall
Seppo Honkapohja, Member of the Board, Bank of Finland​
 

 Friday 19 October 2012

 
9.00–11.00 Session III Search frictions in financial markets
Chair​ Esa Jokivuolle, Bank of Finland​
Paper
Presentation​
The value of control and the costs of illiquidity​
Author(s) Rui Albuquerque, Boston University School of Management & Católica-Lisbon School of Business and Economics & ECGI & CEPR
Enrique Schroth, Finance Group, University of Amsterdam
Discussant​ Giovanni Calice, University of Southampton​
Paper
Presentation​
Trade dynamics in the market for Federal Funds
Author(s)​ Gara Afonso, Federal Reserve Bank of New York
Ricardo Lagos, New York University​
Discussant​ Jonathan Chiu, Bank of Canada​
11.00–11.15 Coffee break
11.15–13.15 Session IV Interaction between credit markets and labour market frictions
Chair​ Juha Kilponen, Bank of Finland​
Paper
Presentation
Macroeconomic dynamics in a model of goods, labour and credit market frictions
Author(s)
Nicolas Petrosky-Nadeau, Tepper School of Business, Carnegie Mellon University
Etienne Wasmer, Sciences Po Paris & CEPR & IZA
Discussant​ Francesco Furlanetto, Norges Bank
Paper
Presentation​
Aggregate implications of financial and labour market frictions
Author(s)​ Andrea Caggese, Universitat Pompeu Fabra & Barcelona GSE
Ander Perez, Universitat Pompeu Fabra & Barcelona GSE
Discussant​ Andreas Westermark, Sveriges Riksbank​
13.15–14.45 Closing words followed by lunch
 

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