Monday, July 6
8:45-9:00 Welcoming Remarks: Chong-En Bai (Tsinghua University)
Session 1 Growth and Structural Change
Chair: Yi Wen (Tsinghua and St. Louis Fed.)
9:00-10:00 Zheng Song (Fudan), Kjetil Storesletten (Oslo) and Fabrizio Zilibotti (Zurich):
"Growing Like China"
10:00-11:00 Keyu Jin (Harvard/LSE):
"Industrial Structure and Financial Capital Flows"
11:00-11:15 Coffee Break
11:15-12:15 Radoslaw Stefanski (Minnesota): “Structural Transformation and the Oil Price”
Session 2 Housing and Business Cycles
Chair: Xue Qiao (Tsinghua)
1:15-2:15 Raoul Minetti (Michigan State) and Tao Peng (Southwestern U of Finance and Economics):
"Lending Constraints, Real Estate Prices and Business Cycles in Emerging Economies"
2:15-3:15 Jianjun Miao (Boston) and Pengfei Wang (HKUST):
“Does Lumpy Investment Matter for Business Cycles?”
3:15-3:30 Coffee Break
3:30-4:30 Michael Devereux (UBC), Kang Shi (Chinese U. of Hong Kong) and Jenny Xu (Hong Kong U. of Science and Technology):
"Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency"
6:00 Dinner (Zui Ai Restaurant)
Tuesday, July 7
Session 3 Saving and Global Imbalances
Chair: Shouyong Shi (Toronto and Tsinghua)
8:30-9:30 Suparna Chakraborty (Baruch College) and Robert Dekle (USC):
"Global Imbalances, Productivity Differentials, and Financial Integration"
9:30-10:30 Kaiji Chen (Oslo), A. Imrohoroglu (USC) and S. Imrohoroglu (USC):
"A Quantitative Assessment of the Decline in the US Saving Rate and the Current Account Balance"
10:30-10:45 Coffee Break
10:45-11:45 Charles Horioka (Osaka):
"The Saving Behavior of the Aged in Japan"
Session 4 Intergenerational Transfer and Political Economy
Chair: Qing Liu (Tisnghua)
1:00-2:00 Zheng Song (Fudan), Kjetil Storesletten (Oslo) and Fabrizio Zilibotti (Zurich):
“Rotten Parents and Disciplined Children: A Politicao-Economic Theory of Public Expenditure and Debt.
2:00-3:00 Fang Yang (SUNY Albany):
"Social Security Reform with Impure Intergenerational Altruism"
3:00-3:15 Coffee Break
3:15-4:45 Panel Discussion:
Wednesday, July 8
Session 5 Macro/Labor
Chair: Xiaodong Zhu (Toronto and Tsinghua)
8:30-9:30 Steven Davis (Chicago), Jason Faberman (Fed Philadelphia) and John Haltiwanger (Maryland):
"Establishment Level Behavior of Vacancies and Hiring"
9:30-10:30 Guido Menzio (Penn) and Shouyong Shi (Toronto and Tsinghua):
"Efficient Search on the Job and the Business Cycle"
10:30-10:45 Coffee Break
10:45-11:45 Suqin Ge (Virginia Tech) and Dennis Yang (Chinese U of HK):
“Accounting for Rising Wages in China”
Session 6 Dynamic Contracts
Chair: Zheng Song (Fudan)
1:00-2:00 Cheng Wang (Iowa State ) and Youzhi Yang (Iowa State):
"On the Dynamic Contract Search"
2:00-3:00 Shuyun Li (Melbourne):
"Optimal lending contracts with long run borrowing constraints"
3:15-6:00 Local Tour (Beijing Summer Palace)
6:00 Dinner (Ting Li Guan in the Summer Palace)