Tsinghua Workshop in Macroeconomics 2011

August 15-17, 2011

Program （Conference Venue: Weilun 501, SEM）

Business Cycles

8:15-9:15 Vivian Yue (New York University)

Export Dynamics and Business Cycles in Emerging Economies

9:15-10:15 Wen Yi (St.Louis Fed and Tsinghua University)

Financial Development and Diverging Trends in Economic Volatility: A Unified Explanation

10:15-10:30 Coffee Break

Investment and Asset Prices:

10:30-11:30 Dan Cao (Georgetown University)

Collateral Shortages, Asset Price and Investment Volatility with Heterogeneous Beliefs

11:30-12:30 Keynote Speech: Martin Eichenbaum (Northwestern University)

Understanding Booms and Busts in Housing Prices

12:30-2:00 Lunch

Financial Market Frictions:

2:00-3:00 Yan Bai (Arizona State University)

Financial Markets and Fluctuations in Uncertainty

3:00-4:00 Keyu Jin (London School of Economics)

Credit Constraints and Growth in a Global Economy

4:00-4:15 Coffee Break

4:15-5:15 Joseph Kaboski (University of Notre Dame)

Macroeconomics of Microfinance

Tuesday, August 16

Human Capital Investment and Risk Sharing:

8:45-9:45 Yongseok Shin (Washington University in St. Louis)

Lifetime Labor Supply and Human Capital Investment

9:45-10:45 Heng Chen (University of Hong Kong)

Mortgage Loans, the Decline of the Household Saving Rate and the Increase in Risk-Sharing

10:45-11:00 Coffee Break

11:00-12:00 Kjetil Storesletten (Minneapolis Fed)

Redistributive taxation in a partial-insurance economy

12:00-1:30 Lunch

Financial System:

1:30-2:30 Charles Kahn (University of Illinois Urbana-Champaign)

Private Payment Systems Collateral and Interest Rates

2:30-3:30 Benjamin Bental (University of Haifa)

Should We Have or Should We Have Not, and Who Should Have Paid?

3:30-3:45 Coffee Break

Energy:

3:45-4:45 William Gavin (St. Louis Fed)

Monetary Policy, the Tax Code, and Energy Price Shocks

4:45-5:45 Xinya Zhang (Rice University)

Energy Sector Innovation and Growth: An Optimal Energy Crisis

Wednesday, August 17

China

8:30-9:30 Xue Qiao (Tsinghua University)

Job creation and destruction in China

9:30-10:30 Laura Wu (Nanyang Technological University)

A Structural Estimation on Capital Market Distortions in UK and Chinese Manufacturing

Firms

10:30-10:45 Coffee Break

10:45-11:45 Xiaodong Zhu (University of Toronto)

Factor Market Distortions Across Time, Space and Sectors in China

11:45-1:15 Lunch

1:15-2:15 Chong-En Bai (Tsinghua University)

Payroll Tax and Consumption

2:15-3:15 Keynote Speech Fabrizio Zilibotti (University of Zurich)

The Growth of China in the Face of a Demographic Transition

3:15-3:30 Coffee Break

3:30-5:15 Panel Discussion

Debt Crisis and China's Role in World Economy