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| 9:00 a.m. |
Continental breakfast |
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| 9:30 a.m. |
Liquidity, Business Cycles and Monetary Policy 
Nobuhiro Kiyotaki, Princeton University John Moore, Edinburgh University and London School of Economics
Discussant: Gauti Eggertsson, Federal Reserve Bank of New York
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| 10:40 a.m. |
Coffee break |
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| 11:00 a.m. |
Credit Frictions and Optimal Monetary Policy 
Vasco Curdia, Federal Reserve Bank of New York Michael Woodford, Columbia University
Discussant: Marvin Goodfriend, Carnegie-Mellon University
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| 12:10 p.m. |
Lunch |
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| 1:20 p.m. |
Crises and Recoveries in an Empirical Model of Consumption Disasters
Robert J.Barro, Harvard University Emi Nakamura, Columbia University Jon Steinsson, Columbia University Jose F. Ursua, Harvard University
Discussant: Frank Schorfheide, University of Pennsylvania
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| 2:30 p.m. |
Coffee break
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| 2:50 p.m. |
Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation 
Vasiliki Skreta, New York University Laura Veldkamp, New York University, Stern School
Discussant: Adam Ashcraft, Federal Reserve Bank of New York |
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| 4:00 p.m. |
Coffee break |
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| 4:20 p.m. |
Regime Switches, Agents' Beliefs, and Post-World War 
Francesco Bianchi, Princeton University
Discussant: TBA |
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| 5:30 p.m. |
Adjourn |
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