ࡱ> @B?'` R$bjbjDD<(&& bbb8$h"Qot m]bB.0"p ""tv,,z  >$> Tsinghua Workshop in Macroeconomics 2010 June 28-30, 2010 Venue: Room 302, Shunde Building (Paper Download: HYPERLINK "http://www.nifs.org.cn/"http://www.nifs.org.cn) Monday June 28 8:15-8:30 Registration 8:30-8:40 Welcoming remarks: Chong-En Bai Associate Dean; Chairman, Department of Economics School of Economics and Management, Tsinghua University Session 1: Financial Crisis 8:40-9:40 Paul Beaudry (Oxford) and Amartya Lahiri (UBC) "Risk Allocation, Debt Fueled Expansion and Financial Crisis" 9:40-10:40 Pengfei Wang (HKST) and Yi Wen (FRB St. Louis and Tsinghua) "Speculative Bubbles and Financial Crisis" 10:40-11:00 Coffee Break 11:00-12:00 Keynote Speech: Nobu Kiyotaki (Princeton) "Financial Intermediation and Credit Policy in Business Cycle Analysis" (joint with Mark Gertler of NYU) Session 2: Money and Policy 2:00-3:00 Guido Menzio (UPenn), Shouyong Shi (U of Toronto and Tsinghua) and Hongfei Sun (Queen's) "A Monetary Theory with Non-Degenerate Distributions" 3:00-4:00 Ben S.C. Fung (Bank of Canada) and Enchuan Shao (Bank of Canada) "Counterfeit Quality and Verification in a Monetary Exchange" 4:00-4:15 Coffee Break 4:15-5:15 Aleksander Berentsen (University of Basel) and Christopher Waller (University of Notre Dame and FRB-St. Louis) "Optimal Stabilization Policy with Endogenous Firm Entry" 5:15-6:15 Nicolas Jacquet (Singapore Management University) and Serene Tan (National University of Singapore) "The Liquidity Effects of Monetary Policy on Asset Prices" Tuesday June 29 Session 3Life Cycle Models 8:30-9:30 Michael Zheng Song (CUHK and Fudan) and Dennis Yang (CUHK) "Life Cycle Earnings and Saving in a Fast Growing Economy" 9:30-10:30 Tim Halliday, Hui He and Hao Zhang; (University of Hawaii) "Health Investment over the Life-Cycle" 10:30-10:45 Coffee Break 10:45-11:45 Keynote Speech: Richard Rogerson (Arizona State) "Fixed Costs, Retirement and the Elasticity of Labor Supply" (joint with Johanna Wallenius of Stockholm School of Economics) Session 4: China 2:00-3:00 Russell Cooper (Texas at Austin and the European University Institute) Guan Gong(SUFE) and Ping Yan (Peking University) "Dynamic Labor Demand in China: Public and Private Objectives" 3:00-4:00 Loren Brandt (UToronto) and Xiaodong Zhu (UToronto and Tsinghua) "Accounting for China s Growth" 4:00-4:15 Coffee Break Session 5 Credit and Contracts 4:15-5:15 Zheng Liu (FRB of San Francisco) and Pengfei Wang (HKUST) "Indeterminate Credit Cycles" 5:15-6:15 Xue Qiao (Tsinghua) "Unemployment Insurance and Layoffs with Dynamic Labor Contracts" Wednesday, June 30 Session 6: Structural Change 8:30-9:30 Radoslaw Stefanski and Karlygash Kuralbayeva; (Oxford) "De-Specialization, Dutch Disease and Sectoral Productivity Differences" 9:30-10:30 Trevor Tombe (UToronto) "Regions, lm  $ / 6 D J K N O r B d + 4 > a b o  # 6 7 d .h6Uh6U5h6Uh6U6h6Uh6U0Jjh6Uh6UUjh6Uh6UU h6Uh6UK):[ L # $ s B c d * + gd6U$$ d .  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