Tsinghua Workshop in Macroeconomics

Tsinghua Uinversity, Beijing, China

TWMacro 2009

**Tsinghua Workshop in Macroeconomics 2009**
July 6-8, 2009
SEM, Tsinghua University, Beijing, China
Keynote Speakers: Steven Davis and Kjetil Storesletten

Monday, July 6

8:30-8:45 Registration

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”

12:15-1:15 Lunch

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”

12:00-1:00 Lunch

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”

12:00-1:00 Lunch

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)