Tsinghua Workshop in Macroeconomics

Tsinghua Uinversity, Beijing, China

TWMacro 2011

**Tsinghua Workshop in Macroeconomics 2011**
August 15-17, 2011
SEM, Tsinghua University, Beijing, China
Keynote Speakers: Martin Eichenbaum and Fabrizio Zilibotti

Monday August 15
7:30-8:00 Registration
8:00-8:15 Welcoming remark

Session 1: 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

Session 2: 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 (TBA)

Session 3: 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

Session 4: 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 (TBA)

Session 5: 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

Session 6: 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

Session 7: 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 (TBA)

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

3:10-5:15 Panel Discussion

Debt Crisis and China’s Role in World Economy