| 
           
          
            |  9:00 a.m.  | 
             Continental breakfast  | 
           
          
             | 
           
          
            |  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 
              | 
           
          
             | 
           
          
            |  10:40 a.m.  | 
            
                Coffee break   | 
           
          
             | 
           
          
            |  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 
              | 
           
          
             | 
           
          
            |  12:10 p.m.  | 
            
                Lunch   | 
           
          
             | 
           
          
            |  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 
              | 
           
          
             | 
           
          
            |  2:30 p.m.  | 
            
                Coffee break  
              | 
           
          
             | 
             | 
           
          
            |  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  | 
           
          
             | 
             | 
           
          
            | 4:00 p.m. | 
            Coffee break  | 
           
          
             | 
             | 
           
          
            | 4:20 p.m.  | 
            
               Regime Switches, Agents' Beliefs, and Post-World War   
                 Francesco Bianchi, Princeton University 
                Discussant:  TBA  | 
           
          
             | 
             | 
           
          
            |  5:30 p.m.  | 
            
               Adjourn   | 
           
          
             | 
             | 
           
          |