The 6th annual Dynare Conference will be held in Helsinki on June 3-4, 2010. The conference is organised by the Bank of Finland together with DSGE-net and the Dynare project at the CEPREMAP.
Organizers: Michel Juillard (Bank of France and CEPREMAP), Juha Kilponen (ECB and Bank of Finland), Antti Ripatti (Bank of Finland) and Jouko Vilmunen (Bank of Finland).
Wednesday 2 June
| 18.00 | Get together and buffet dinner |
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18.00–19.00
Presentation
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Houtan Bastani, Michel Juillard and Sébastien Villemot:
Dynare Questions and Answers
Sébastien Villemot:
Recent Dynare developments
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Thursday 3 June
| 8.45 | Opening |
| 9.00–11.00 | Parallel sessions A |
| Session A1 | Fiscal policy |
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(1)
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*Cristina Badarau & Grégory Levieuge:
Macroeconomic policies to mitigate the financial heterogeneity in the euro area
Discussant: Martin Kliem
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(2)
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Martin Kliem:
Implementable fiscal policy rules
Discussant: Paul McNelis
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(3)
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*Massimiliano Pisani & Lorenzo Forni:
Fiscal policy in open economies: estimates for the euro area
Discussant: Cristina Badarau
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| Session A2 | Housing and collateral constraints |
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(1)
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Ivan Jaccard:
Asset pricing and housing supply in a production economy
Discussant: Tomi Kortela
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(2)
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Tomi Kortela:
Do credit shocks matter for aggregate consumption?
Discussant: Galo Nuño
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| Session A3 | Identification |
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(1)
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*Marco Ratto & Nikolai Iskrev:
Computational advances in analyzing identification of DSGE models
Discussant: František Brázdik
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(2)
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Michal Andrle:
Note on identification patterns in DSGE models
Discussant: Marco Ratto
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(3)
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Efrem Castelnuovo:
Monetary policy shocks, Cholesky identification and DNK models; an empirical investigation for the U.S.
Discussant: Michal Andrle
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| 11.00–11.30 | Coffee break |
| 11.30–12.30 | Plenary session |
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|
Fabio Canova:
Measurement with some theory: A new approach to evaluate business cycle models
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| 13.00–14.00 | Lunch |
| 14.00–16.00 | Parallel sessions B |
| Session B1 | Risk premia |
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(1)
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*Stephan Fahr & Mirko Abbritti:
Macroeconomic implications of downward wage rigidities
Discussant: Scott Davis
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(2)
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Scott Davis:
The adverse feedback loop and the real effects of financial sector uncertainty
Discussant: Stephan Fahr
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| Session B2 | Oil |
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(1)
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*Galo Nuño & Anton Nakov:
Oilgopoly: A general equilibrium model of the oil-macroeconomy nexus
Discussant: Michel Juillard
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(2)
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*Arnoud Stevens & Gert Peersman:
Oil demand and supply shocks: An analysis in an estimated DSGE model
Discussant: Massimiliano Pisani
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| Session B3 | Inflation |
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(1)
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*Magali Marx & Jean Barthélemy:
A discrete monetary policy framework: An application to the Japanese case
Discussant: Pablo Burriel
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(2)
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*Pablo Burriel & Luis J. Álvarez:
Micro-based estimates of heterogeneous pricing rules: The United States vs euro area
Discussant: Efrem Castelnuovo
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(3)
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*Antti Ripatti & Martin Ellison & Pentti Saikkonen & Markku Lanne:
Non-causal inflation
Discussant: Christian Matthes
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| 16.00–16.30 | Coffee break |
| 16.30–18.30 | Parallel sessions C |
| Session C1 | Banks and the macroeconomy |
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(1)
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*Pawel Zabczyk & Martin Andreasen & Marcelo Ferman:
The business cycle implications of bank's maturity transformation
Discussant: Hongru Zhang
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(2)
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*Olivier Pierrard & Gregory de Walque:
Banking shock and monetary reactions in a New-Keynesian model
Discussant: Marcel Ferman
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(3)
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Hongru Zhang:
On the role of financial sector shocks to aggregate fluctuations
Discussant: Olivier Pierrard
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| Session C2 | Monetary policy and beliefs |
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(1)
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Gabriela Best:
Policy preferences and policymakers' beliefs: The causes of the Great Inflation in the U.S.
Discussant: Juha Kilponen
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(2)
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*Paolo Gelain & Arnab Bhattacharjee:
Forecast performance of the FOMC: A Bayesian analysis
Discussant: Martin Ellison
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(3)
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Christian Matthes:
Figuring out the Fed – beliefs about policymakers and gains from transparency
Discussant: Gabriela Best
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| Session C3 | Regime switch models |
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(1)
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František Brázdik:
Announced regime switch: Optimal policy for transition period
Discussant: Martina Cecioni
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(2)
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*Paul McNelis & K. Chow:
Need Singapore fear floating: A DSGE-VAR approach
Discussant: Markus Haavio
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| 19.00–22.00 | Conference Dinner at Villa Kokkonen |
Friday 4 June
| 9.00–11.00 | Parallel sessions D |
| Session D1 | Non-linear methods |
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(1)
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Martin Andreasen:
Non-linear DSGE models and the optimized particle filter
Discussant: Ingvar Strid
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| (2) |
*Ingvar Strid & Paolo Giordani & Robert Kohn:
Adaptive hybrid MCMC for DSGE models
Discussant: Martin Andreasen
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(3)
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*Pawel Zabczyk & Martin Andreasen:
An efficient method of computing higher order bond price perturbation approximations
Discussant: Tarik Ocaktan
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| Session D2 | Investments and business cycle fluctutations |
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(1)
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*Martin Seneca & Francesco Furlanetto:
New perspectives on depreciation shocks as a source of business cycle fluctuations
Discussant: Antti Ripatti
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(2)
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*Takushi Kurozumi & Yasuo Hirose:
Do investment-specific technological changes matter for business fluctuations: Evidence from Japan
Discussant: Kai Christoffel
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(3)
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Hanna Freystätter:
Financial frictions and disturbances in Finland
Discussant: Takushi Kurozumi
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| Session D3 | Labour markets |
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(1)
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*Juuso Vanhala & Stephan Fahr:
Offshoring and domestic labour markets: A matching model of outsourcing
Discussant: Francesco Furlanetto
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(2)
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*Renato Faccini & Stephen Millard & Francesco Zanetti:
Wage rigidities in an estimated DSGE model of the UK labour market
Discussant: Arnoud Stevens
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| 11.00–11.30 | Coffee break |
| 11.30–12.30 | Plenary session |
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Thomas J. Sargent:
Career length: Effects of curvature of earnings profiles, earnings shocks, and social security
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| 13.00–14.00 | Lunch |
| 14.00–16.00 | Parallel sessions E |
| Session E1 | Monetary transmission and business cycles in the euro area |
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(1)
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*Martina Cecioni & Stefano Neri:
The monetary transmission mechanism in the euro area: Has it changed and why?
Discussant: Ivan Jaccard
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(2)
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*Kai Christoffel & Günter Coenen & Anders Warne:
Forecasting with DSGE Models
Discussant: Paolo Gelain
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(3)
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*Francesco Furlanetto & Martin Seneca:
Investment-specific shock and consumption
Discussant: Hanna Freystätter
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| Session E2 | Zero lower bound |
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(1)
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Ragna Alstadheim:
The zero lower bound and neo-classical Phillips curve
Discussant: Pascal Jacquinot
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(2)
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Rossana Merola:
Financial accelerator and the zero lower bound on interest rates
Discussant: Ragna Alstadheim
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(3)
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*Pascal Jacquinot & Sandra Gomes & Ricardo Mestre & Joao Sousa:
Global policy and the zero lower bound in a large-scale DSGE model
Discussant: Rossana Merola
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| Session E3 | New directions for research |
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(1)
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Galo Nuño:
Optimal research and development expenditure: a general equilibrium approach
Discussant: Tanja Tanayama
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(3)
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Tarik Ocaktan:
Can lower order perturbation methods accurately describe wealth dynamics
Discussant: Pawel Zabczyk
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| 16.00 | End of the conference |