Thursday, January 4, 2007

Jan. 4, 6:30 pm

ASE

Plenary Lecture

Presiding: JOHN P. TIEMSTRA, Calvin College

JOHN M. GOWDY, Rensselaer Polytechnic Institute--Behavioral Economics and Sustainability

Friday, January 5, 2007

Jan. 5, 8:00 am

AAEA

Whither Jobs and People?: Rural-Suburban-Urban Differences and Modern Growth Patterns (Q1)

Presiding: JEFFREY H. DORFMAN, University of Georgia

MARK D. PARTRIDGE, Ohio State University, DAN S. RICKMAN, Oklahoma State University, KAMAR ALI, and M. ROSE OLFERT, University of Saskatchewan--Employment Growth in the American Urban Hierarchy: Long Live Distance

CAROLINE CUNNINGHAM, MOLLY ESPEY, and KATHERINE H. KING, Clemson University--The Faces of Suburbanization

MITCH RENKOW, North Carolina State University--Employment Growth and the Allocation of New Jobs: Spatial Spillovers of Economic and Fiscal Impacts

Discussant: JEFFREY H. DORFMAN, University of Georgia

Jan. 5, 8:00 am

AEA

Labor Flows, Vacancies and Wages

Presiding: JOHN HALTIWANGER, University of Maryland

STEVE DAVIS, University of Chicago and NBER, R. JASON FABERMAN, U.S. Bureau of Labor Statistics, and JOHN HALTIWANGER, University of Maryland and NBER—The Micro Behavior of Vacancies and Hiring

ROBERT SHIMER, University of Chicago--Wage and Employment Dynamics with Mismatch

ERICA GROSHEN and SIMON POTTER, Federal Reserve Bank of New York—Why Don’t Temporary Layoffs Spike during Recessions Anymore?

Discussants: EVA NAGYPAL, Northwestern University

DALE MORTENSEN, Northwestern University

BRUCE FALLICK, Federal Reserve Board

Jan. 5, 8:00 am

AEA

The Economics of Natural Resources and the Environment (Q0)

Presiding: To be announced.

JEFFREY LAZO, National Center for Atmospheric Research, PETER LARSEN, University of Alaska-Anchorage, DONALD WALDMAN, University of Colorado-Boulder, and MEGAN HARROD, Stratus Consulting, Inc.—Sensitivity of the U.S. Economy to Weather Variability

BASHARAT PITAFI, Southern Illinois University, and JAMES ROUMASSET, University of Hawaii—The Resource Economics of Invasive Species

SARAH LOWDER, United Nations—Reducing Environmental Impact: Appropriate Country Strategies Based on Levels of Development

THOMAS A. WEBER and CLAIRE TOMKINS , Stanford University--Dynamic Allocation of Water Resources with Storage and Two-Sided Uncertainty: The Case of Southern California

Discussants: To be announced.

Jan. 5, 8:00 am

AEA

Transparency

Presiding: MARC-ANDREAS MUENDLER, University of California-San Diego and CESifo

MARC-ANDREAS MUENDLER, University of California-San Diego and CESifo—The Action Value of Information and the Natural Transparency Limit

STERGIOS SKAPERDAS, University of California-Irvine, and SAMARTH VAIDYA, Deakin University—Persuasion as a Contest

MAKSYMILIAN KWIEK, University of Southampton—Mass Media: Constrained Information and Heterogenous Public

Jan. 5, 8:00 am

AEA

Model Validation and Model Comparison (C5)

Presiding: MICHAEL KEANE, Yale University

KENNETH WOLPIN, University of Pennsylvania—Ex Ante Policy Evaluation, Structural Estimation and Model Selection

HANMING FANG, MICHAEL KEANE, Yale University, AHMED KHWAJA, MARTIN SALM, Duke University, and DAN SILBERMAN, University of Michigan—Using Data on Expectations to Validate a Structural Model of Investment in Health

JOHN GEWEKE, University of Iowa—Bayesian Model Comparison

Discussant: CHRIS SIMS, Princeton University

Jan. 5, 8:00 am

AEA

Monetary Aggregates and Monetary Policy (E5)

Presiding: SAMUEL REYNARD, Swiss National Bank

EDWARD NELSON, Federal Reserve Bank of St. Louis, JAVIER ANDRES, Universidad de Valencia, and DAVID LOPEZ-SALIDO, Bank of Spain—Money and the Natural Rate of Interest: Structural Estimates for the U.K., the U.S., and the Euro Area

SAMUEL REYNARD, Swiss National Bank—Money and the Great Disinflation

HUW PILL, BJOERN FISCHER, MICHELE LENZA, and LUCREZIA REICHLIN, European Central Bank—A Monetary History of the Euro Area 1999-2006

ANDREW FILARDO, Bank for International Settlements, and MICHAEL BORDO, Rutgers University and NBER—Money Still Makes the World Go Round: The Zonal View

Discussants: ATHANASIOS ORPHANIDES, Federal Reserve Board

EDWARD NELSON, Federal Reserve Bank of St. Louis

SAMUEL REYNARD, Swiss National Bank

CARL E. WALSH, University of California-Santa Cruz

Jan. 5, 8:00 am

AEA

The Market and Pre-Market for Graduate Students in Economics

Presiding: ALAN KRUEGER, Princeton University

PAUL OYER, Stanford University—Initial Positions, Long-Term Outcomes, and Organizational Structure in the Market for Economists

WAYNE A. GROVE, LeMoyne College, and STEPHEN WU, Hamilton College—The Search for Talent: Doctoral Completion and Research Productivity of Economists

SUSAN ATHEY, Stanford University, LAWRENCE KATZ, Harvard University, ALAN KRUEGER, Princeton University, STEVEN LEVITT, University of Chicago, and JAMES POTERBA, Massachusetts Institute of Technology—What Does Performance in Graduate School Predict? Graduate Economics Education and Outcomes of Graduate Students

Discussants: MICHAEL K. SALEMI, University of North Carolina-Chapel Hill

DAVID C. COLANDER, Middlebury College

WENDY A. STOCK, Montana State University

Jan. 5, 8:00 am

AEA

Macroeconomic Implications of Price Stickiness (E3)

Presiding: JOHN LEAHY, New York University

MICHAEL DOTSEY, Federal Reserve Bank of Philadelphia, ROBERT G. KING, Boston University, and ALEXANDER L. WOLMAN, Federal Reserve Bank of Richmond—Aggregate Dynamics of Inflation and Real Activity with Firm-Level Productivity Shocks

VIRGILIU MIDRIGAN, New York University—Menu Costs, Multi-Product Firms and Aggregate Fluctuations

PETER KLENOW, Stanford University, and JONATHAN WILLIS, Federal Reserve Bank of Kansas City—Empirical Evidence on Models of Rational Inattention

Jan. 5, 8:00 am

AEA

Recent Macroeconomic Stabilization (E3)

Presiding: JEFFREY CAMPBELL, Federal Reserve Bank of Chicago

ZVI HERCOWITZ, Tel Aviv University, and JEFFREY CAMPBELL, Federal Reserve Bank of Chicago—The Role of Collateralized Household Debt in Macroeconomic Stabilization

GIORGIO PRIMICERI, Northwestern University, and ALEJANDRO JUSTINIANO, Federal Reserve Board--The Time Varying Volatility of Macroeconomic Fluctuations

SYLVAIN LEDUC, Federal Reserve Board, and KEITH SILL, Federal Reserve Bank of Philadelphia—Monetary Policy, Oil Shocks, and TFP: Accounting for the Decline in U.S. Volatility

Discussants: GARY HANSEN, University of California-Los Angeles

KEVIN SALYER, University of California-Davis

JONAS FISHER, Federal Reserve Bank of Chicago

Jan. 5, 8:00 am

AEA

Heterogeneity in the Labor Market and Macroeconomic Fluctuations (E2)

Presiding: FRANÇOIS GOURIO, Boston University

FRANÇOIS GOURIO, Boston University, and PIERRE-ALEXANDRE NOUAL, University of Chicago—The Marginal Worker and the Aggregate Elasticity of Labor Supply

RONNI PAVAN, University of Rochester, and ALESSANDRO BARBARINO, University of Chicago and Duke University—Measuring Unemployment Composition over the Business Cycle

YONGSUNG CHANG, Seoul National University, MARK BILS, University of Rochester, and SUN-BIN KIM, Korea University—Cyclicality in Unemployment and Wages

CHRISTIAN HAEFKE and MICHAEL REITER, University of Pompeu Fabra—Labor Market Participation and the Business Cycle

Discussants: YONGSUNG CHANG, Seoul National University

RONNI PAVAN, University of Rochester

FRANÇOIS GOURIO, Boston University

Jan. 5, 8:00 am

AEA

Long-Run Growth

Presiding: DAVID WEIL, Brown University

JENNY MINIER, University of Kentucky—Nonlinearities and Robustness in Growth Regressions

ANTONIA J. SWANN, York University—Competition and Growth: The Key Role of R&D Duplication behind the Inverted U Relationship

FALI HUANG, Singapore Management University—The Coevolution of Economic and Political Development

NICOLE B. SIMPSON, Colgate University, WILLIAM BLANKENAU, Kansas State University, and MARC TOMLJANOVICH, Colgate University—Public Education Expenditures, Taxation and Growth: Linking Data to Theory

Discussants: PETER HOWITT, Brown University

NILS-PETTER LAGERLOEF, York University

ANN OWEN, Hamilton College

DAVID WEIL, Brown University

Jan. 5, 8:00 am

AEA

Multinational Firms and Development (F2, O3)

Presiding: ALEXANDER MONGE-NARANJO, Northwestern University

ALEXANDER MONGE-NARANJO, Northwestern University—Multinational Firms, International Diffusion of Skills and Development

PAUL BEAUDRY and PATRICK FRANCOIS, University of British Columbia—Firms as Schools: On the Job Learning as a Means of Technology Diffusion

ESTEBAN ROSSI-HANSBERG and GENE GROSSMAN, Princeton University—Trading Tasks: A Simple Theory of Offshoring

NATALIA RAMONDO, University of Chicago—Size, Geography, and Multinational Production

Jan. 5, 8:00 am

AEA

Capital Accumulation and the Cost of Capital

Presiding: SIMON GILCHRIST, Boston University

GIAN LUCA CLEMENTI, New York University, RUI CASTRO, University of Montreal, and GLENN MACDONALD, Washington University-St. Louis—Legal Institutions, Sectoral Heterogeneity, and Economic Development

FABIO NATALUCCI, Federal Reserve Board, SIMON GILCHRIST, Boston University, and EGON ZAKRAJSEK, Federal Reserve Board—Interest Rates and Investment Redux

NIHAL BAYRAKTAR, Pennsylvania State University-Harrisburg and World Bank, and PLUTARCHOS SAKELLARIS, Athens University of Economics and Business and IMOP—Firm Market Value and Investment: The Role of Firm Market Power and Different Types of Adjustment

MARCEL-CRISTIAN VOIA and HUNTLEY SCHALLER, Carleton University—Panel Cointegration Estimates of the Effect of Interest Rates, Capital Goods Prices, and Taxes on the Capital Stock

Jan. 5, 8:00 am

AEA

Constitutional Approaches to Explaining Trade Policy (F1)

Presiding: GERALD WILLMANN, University of Kiel

MATTIAS POLBORN, University of Illinois-Urbana-Champaign, and GERALD WILLMANN, University of Kiel—Referendum Timing

MIRABELLE MUULS and DIMITRA PETROPOULOU, London School of Economics—Oranges and Steel – A Swing State Theory of Trade Protection in the Electoral College

HEIN ROELFSEMA, University of Utrecht—Political Institutions and Trade Protection

GERALD WILLMANN, University of Kiel—Why Legislators Are Protectionists: The Role of Majoritarian Voting in Setting Tariffs

Discussants: EMILY BLANCHARD, University of Virginia

GIOVANNI FACCHINI, University of Illinois

DEVASHISH MITRA, Syracuse University

KISHORE GAWANDE, Texas A&M University

Jan. 5, 8:00 am

AEA

Markets, Information, and Strategic Behavior

Presiding: BRUCE MIZRACH, Rutgers University

JOSEPH ENGELBERG and JARED WILLIAMS, Northwestern University—Ebay’s Proxy System: A License to Shill

JIE LU and BRUCE MIZRACH, Rutgers University—Is Talk Cheap Online? Strategic Interaction in a Stock Trading Chat Room

JEFFREY ELY, Northwestern University, and TANJIM HOSSAIN, Hong Kong University of Science & Technology—Sniping and Squatting in Auction Markets

Discussants: To be announced.

Jan. 5, 8:00 am

AEA

Organizational Form (L2, H5, G3)

Presiding: JULIE WULF, University of Pennsylvania

PATRICK HERBST and JENS PRUFER, Goethe University-Frankfurt—Firms, Nonprofits, and Cooperatives: The Role of Organizational Form in the Provision of Quality

JEAN-MICHEL OUDOT, Centre ATOM, University Paris I Pantheon, Sorbonne—Cost Plus or Price Cap? The Choice in the French Defense Procurement Sector

JULIE WULF, University of Pennsylvania, AUGUSTIN LANDIER, New York University, and VINAY NAIR, University of Pennsylvania—Geographic Dispersion and Corporate Decision-Making

KRISHNAMURTHY SUBRAMANIAN, Emory University—Firm Boundaries in the New Economy: Theory and Evidence

Jan. 5, 8:00 am

AEA

Income Redistribution: Causes and Consequences (D3)

Presiding: FELIX OBERHOLZER-GEE, Harvard University

CHRISTINA FONG, Carnegie Mellon University, and FELIX OBERHOLZER-GEE, Harvard University—Justice and Redistribution

CLAUDIA SENIK, Université Paris-IV Sorbonne, and KARIN VAN DER STRAETEN, CNRS and Ecole Polytechnique Paris—The Anatomy of the Demand for Redistribution in Europe: An Investigation of the European Social Survey

ESTEBAN F. KLOR and MOSES SHAYO, Hebrew University of Jerusalem—Redistribution and Social Identity in the Labor

Discussants: ALOIS STUTZER, University of Zurich

IRIS BOHNET, Harvard University

JAMES FOWLER, University of California-Irvine

Jan. 5, 8:00 am

AEA

Natural Field Experiments in Development Economics (O1)

Presiding: ROHINI PANDE, Yale University

EDWARD MIGUEL, SARAH BAIRD, University of California-Berkeley, and MICHAEL KREMER, Harvard University—Experimental Evidence on Long-Run Impacts of Child Health in Kenya

DEAN KARLAN, Yale University, and JONATHAN ZINMAN, Dartmouth University—Derationing: Using Randomized Credit Supply Decisions to Measure Microfinance Impacts

BENJAMIN OLKEN, Harvard University—Monitoring Corruption: Evidence from a Field Experiment in Indonesia

Discussants: SEEMA JAYACHANDRAN, University of California-Los Angeles

ABHIJIT BANERJEE, Massachusetts Institute of Technology

CHRISTOPHER UDRY, Yale University

Jan. 5, 8:00 am

AFA

Determinants of Default Swap Spreads

Presiding: PIERRE COLLIN-DUFRESNE, University of California-Berkeley

PHILIPPE JORION and GAIYAN ZHANG, University of California-Irvine—Intra-Industry Credit Contagion: Evidence from the Credit Default Swap and Stock Markets

DRAGON YONGJUN TANG, Kennesaw State University, and HONG YAN, University of Texas-Austin—Liquidity, Liquidity Spillover, and Credit Default Swap Spreads

ANTJE BERNDT, Cornell University, AZIZ A. LOOKMAN, and JULIAN OBREJA, Carnegie Mellon University—Default Risk Premia and Asset Returns

Discussants: KENNETH SINGLETON, Stanford University

VIRAL ACHARYA, London Business School

KENT DANIEL, Northwestern University

Jan. 5, 8:00 am

AFA

Understanding Risks and Expected Returns

Presiding: JOSEPH CHEN, University of Southern California

ZHI DA and PENGJIE GAO, Northwestern University—Clientele Change, Liquidity Shock, and the Return on Financially Distressed Stocks

EVAN W. ANDERSON, ERIC GHYSELS, University of North Carolina-Chapel Hill, and JENNIFER L. JUERGENS, Arizona State University—The Impact of Risk and Uncertainty on Expected Returns

ANDREW ANG, ROBERT J. HODRICK, Columbia University, YUHANG XING, Rice University, and XIAOYAN ZHANG, Cornell University—High Idiosyncratic Volatility and Low Returns: International and Further U.S. Evidence

Discussants: TARUN CHORDIA, Emory University

CHRISTOPHER JONES, University of Southern California

TIM JOHNSON, London Business School

Jan. 5, 8:00 am

AFA

International Comparisons

Presiding: RAFAEL LA PORTA, Dartmouth College

FRANKLIN ALLEN, University of Pennsylvania, LAURA BARTILORO, Bank of Italy, and OSKAR KOWALEWSKI, Leon Kozminski Academy of Entrepreneurship and Management—Does Economic Structure Determine Financial Structure?

HEITOR ALMEIDA, New York University, MURILLO CAMPELLO, University of Illinois-Urbana-Champaign, and CROCKER H. LIU, New York University—The Financial Accelerator: Evidence from International Housing Markets

BERNARD YIN YEUNG, New York University, LUBOMIR P. LITOV, Washington University-St. Louis, and KOSE JOHN, New York University—Corporate Governance and Corporate Risk Taking: Theory and Evidence

Discussants: LUIGI ZINGALES, University of Chicago

JEREMY STEIN, Harvard University

PETER TUFANO, Harvard Business School

Jan. 5, 8:00 am

AFA

Corporate Governance

Presiding: SIMI KEDIA, Rutgers University

MICHAEL H. BRADLEY, ALON BRAV, Duke University, ITAY GOLDSTEIN, University of Pennsylvania, and WEI JIANG, Columbia University—Costly Communciation, Shareholder Activism, and Limits to Arbitrage

DALIDA KADYRZHANOVA, Columbia University—Does Governance Pay, or Is Entrenchment the Way? Merger Gains and Antitakeover Provisions

SHANE A. JOHNSON, TED MOORMAN, and SORIN M. SORESCU, Texas A&M University—Governance, Stock Returns, and Market Efficiency

Discussants: LAURA STARKS, University of Texas-Austin

S. RAVID, Rutgers University

KENNETH LEHN, University of Pittsburgh

Jan. 5, 8:00 am

AFA

Executive Compensation and Corporate Governance

Presiding: MILTON HARRIS, University of Chicago

PRAVEEN KUMAR and NISAN LANGBERG, University of Houston—Overinvestment and Corporate Fraud in Efficient Capital Markets

ULF AXELSON, Swedish Institute for Financial Research, and SANDEEP BALIGA, Northwestern University—Optimal Executive Compensation with Renegotiation: Explaining Earnings Manipulation and Vesting Schedules

GUSTAVO MANSO, Stanford University—Motivating Innovation

Discussants: OGUZHAN OZBAS, University of Southern California

HARESH SAPRA, University of Chicago

MORTEN SORENSEN, University of Chicago

Jan. 5, 8:00 am

AFA/AFE

Dividends and Stock Repurchases

Presiding: KOSE JOHN, New York University

AMY CHUN-CHIA CHANG, PRAVEEN KUMAR, and SHIVA SIVARAMAKRISHNAN, University of Houston—Dividend Changes, Cash Flow Predictability, and Signaling of Future Cash Flows

RADHAKRISHNAN GOPALAN, University of Michigan-Ann Arbor, VIKRAM K. NANDA, Arizona State University, and AMIT SERU, University of Michigan-Ann Arbor—Do Business Groups Use Dividends to Fund Investments?

GERARD HOBERG, and NAGPURNANAND R. PRABHALA, University of Maryland—Dividend Policy, Risk, and Catering

Discussants: DOUGLAS SKINNER, University of Chicago

AVNER KALAY, Tel Aviv University

MICHAEL BRENNAN, University of California-Los Angeles

Jan.5, 8:00 am

AREUEA

Homeownership and Housing Policy

Presiding: EDGAR O. OLSEN, University of Virginia

DONALD R. HAURIN, Ohio State University, and STUART S. ROSENTHAL, Syracuse University--Language, Agglomeration, and Hispanic Homeownership

GEORGE C. GALSTER and ANNA M. SANTIAGO, Wayne State University--No Place Like Home? Experiences of Recent, Low-Income Homebuyers

STUART S. ROSENTHAL and MICHAEL D. ERIKSEN, Syracuse University--Crowd-Out, Stigma, and the Effect of Place-Based Subsidized Rental Housing on Neighborhoods

FRANÇOIS DES ROSIERS, Laval University, and MARION STEELE, University of Guelph--Superstar Cities, Condominiums and the Low Income Housing Tax Credit: Is the Contribution of LIHTC to Total Tax Expenditures Less Than it Seems?

Discussants: EDWARD COULSON, Pennsylvania State University

STUART ROSENTHAL, Syracuse University

AMY SCHWARTZ, New York University

KERRY VANDELL, University of California-Irvine

Jan. 5, 8:00 am

AREUEA

Economics of Mortgage Markets

Presiding: TODD SINAI, University of Pennsylvania

ANDREA HEUSON and TIE SU, University of Miami--Mortgage Delivery Options: An Innovation to Improve the Risk/Return Tradeoff in Residential Mortgage Lending

NELA RICHARDSON and DOUGLAS A. MCMANUS, Freddie Mac--Multi-Sided Platforms: An Application to Secondary Mortgage Markets

LYNN M. FISHER, Massachusetts Institute of Technology, and ROBERT VAN ORDER, University of Michigan--The Economics of the Mortgage and Mortgage Institutions

SHANE M. SHERLUND, Federal Reserve Board--The Jumbo-Conforming Spread: A Semiparametric Reexamination

Discussants: NENG WANG, Columbia University
YONGHENG DENG, University of Southern California
ALBERT SAIZ, University of Pennsylvania
BRENT AMBROSE, Pennsylvania State University

Jan. 5, 8:0 0am

ACES

Private Ownership and Public Service Provision

Presiding: JOHN BENNETT, Brunel University,West London

KATHERINA GASSNER, World Bank, ALEXANDER POPOV, University of Chicago, and NATALIYA PUSHAK, World Bank—An Empirical Assessment of Private Sector Participation in Electricity and Water Distribution in Developing Countries

EDUARDO ENGEL, Yale University, RONALD FISCHER, University of Chile, and ALEXANDER GALETOVIC, University of the Andes--The Basic Public Finance of Public-Private Partnerships

JOHN BENNETT and ELISABETTA IOSSA, Brunel University--Contracting Out Public Service Provision to Not-for-Profit Firms

RUSSELL PITTMAN, U.S. Department of Justice and New Economic School, Moscow--Will the Train Ever Leave the Station? The Private Provision of Freight Railway Service in Russia and Central and Eastern Europe

Discussants: MARK SCHAFFER, Heriot-Watt University

HADI ESFAHANI, University of Illinois-Urbana-Champaign

AL SLIVINSKI, University of Western Ontario

SERGEI GURIEV, New Economic School, Moscow

Jan. 5, 8:00 am

AFEE/ASE

Continuity and Change: Policy Implications from Social and Institutional Economics (O1)

Presiding: CHRISTOPHER NIGGLE, University of Redlands

MAYO TORUNO, California State University-San Bernardino--The State and the Abundant Society

PHILLIP O’HARA, Curtin University, Australia--The Global Spread of AIDS and HIV: Causes, Consequences, and Governance

LAURA J. TAYLOR, Willamette University--Informal Institutions and the Transition in Rural Russia

MICHAEL CARROLL, Bowling Green State University, MARY WRENN, Weber State University, JAMES RONALD STANFIELD, Colorado State University--Toward Community-Based Community Development

HAMID HOSSEINI, King’s College--Why both Formal and Informal Institutions Matter in

Economic Development: Explaining the Change of Lewisian Dualism to a (New?) Formal-

Informal Dichotomy

Discussant: CHRISTOPHER NIGGLE, University of Redlands

Jan. 5, 8:00 am

ASE/IAFFE

Bringing Households and Social Reproduction in Strategies for Sustainability

Presiding: ELLEN MUTARI, Richard Stockton College of New Jersey

ELISSA BRAUNSTEIN, Colorado State University--Women's Nonmarket Work, Gender Inequality, and Economic Growth in East Asia and Latin America

S. CHARUSHEELA, University of Hawaii-Manoa, and COLIN DANBY, University of Washington, Bothell--When is "The Household"?

MARILYN POWER, Sarah Lawrence College--Feminist and Ecological Economics: Applying a Social Provisioning Approach to an Analysis of the Effects of Natural Disasters

JANE WHEELOCK, University of Newcastle--Social Reproduction and Sustainability: The Role of Art

Discussants: JOHN DAVIS, University of Amsterdam and Marquette University

ELLEN MUTARI, Richard Stockton College of New Jersey

Jan. 5, 8:00 am

ASCE

The Cuban Economy

Presiding: ROGER BETANCOURT, University of Maryland-College Park

MARIO A. GONZALEZ CORZO, Lehman College, City University of New York, and SCOTT LARSON, Graduate Center, City University of New York--Cuba’s Unique Remittance Landscape: A Comparative Perspective

ERNESTO HERNÁNDEZ-CATÁ, Johns Hopkins University--A Theory of Transition: The Case of the Former Soviet Union

CARLOS SEIGLIE, Rutgers University-Newark--Socioeconomic Differences between the Races in Cuba and Their Implications for a Transition

Discussants: JORGE SANGUINETTY, DevTech Systems, Inc.

LUIS LOCAY, University of Miami

BRYAN ROBERTS, U.S. Department of Homeland Security

Jan. 5, 8:00 am

ACE

Making Markets Work for the Rural Poor

Presiding: CHRISTOPHER B. BARRETT, Cornell University

PAUL N. WILSON, University of Arizona, and JOHN E. STAPLEFORD, Eastern University-- Transformational Development: A “Slow Fast” Alternative for Economic Growth

CRAIG GUNDERSEN, Iowa State University, and THOMAS KELLY, RKDev Consulting--Catholic Social Teaching and the Allocation of Scarce Resources to Address Problems of Poverty

TRACY C. MILLER, Grove City College--What Role Can Changes in Institutions and Policies Affecting Access to Property Rights Play in Facilitating Escape from Poverty in Developing Countries?

DUNCAN BOUGHTON, DAVID TSCHIRLEY, Michigan State University, CHRISTOPHER B. BARRETT, Cornell University, and RUI BENFICA, Michigan State University--The Determinants of Market Participation by Poor Rural Households in Sub-Saharan Africa: An Asset-Based Approach

Jan. 5, 8:00 am

AERE

Environmental Conflict and Cooperation (Q5)

Presiding: W. MICHAEL HANEMANN, University of California-Berkeley

JUAN-PABLO MONTERO, Catholic University of Chile--A Simple Auction Mechanism for the Optimal Allocation of the Commons

SUNG HOON PARK, Korean University, and JASON F. SHOGREN, University of Wyoming--Environmental Citizen Suits with Pigovian Punitive Damages

SHLOMI DINAR, Florida International University, ARIEL DINAR, Johns Hopkins University School of Advanced International Studies, and PRADEEP KURUKULASURIYA, Yale University--SCARPERAION: An Empirical Inquiry into the Role of Scarcity in Fostering Cooperation Between International River Riparians

CATHERINE NORMAN, Johns Hopkins University, and BEVIN ASHENMILLER, Occidental College--Anti-SLAPP Legislation and Citizen Enforcement: Measuring the “Chill” of Strategic Law Suits

Discussants: GLENN BLOMQUIST, University of Kentucky

NICHOLAS FLORES, University of Colorado-Boulder

EMMA HUTCHINSON, University of Victoria

JULIO VIDERAS, Hamilton College

Jan. 5, 8:00am

AIES

Issues in Financial Aspects of Growth (C0, G1, G2)

Presiding: TEJ K. KAUL, Eastern Illinois University

SUHAS KETKAR, Vanderbilt University—Corporate Bonds: A Case Study of RIBs and IMDs

RENU KALLIANPUR, AXA Advisors, and SAUL MEKIES, University of Iowa—Sequential Game Theory and an Asian Euro

KUSUM KETKAR, Yeshiva University—Financial Markets and Liberalization

VANDANA RAO, Indiana University East—Key Risk Indicators in Financial Institutions

ATRAYEE GHOSH ROY, Minnesota State University-Mankato, and HENDRIK VAN DEN BERG, University of Nebraska—Twin Deficits, Hard Landing and U.S. Growth

DANIEL LAZAR, JOSEPH JEYAPAUL, Loyola College, and SHAILENDRA GAJANAN—Tax-Loss Selling and the April Effect: Evidence from BSE Sensex

KISHORE KULKARNI, Metropolitan State College, and DEBASIS BHATTACHARYA, University of Denver—Economic Liberalization in India, Objectives, Reforms and Perspectives

Discussants: JYOTHI KHANNA, Colgate University

DEBASRI MUKHERJEE, Western Michigan University

MONICA DAS, Skidmore College

SUBHASH SHARMA, Southern Illinois University

ATRAYEE GHOSH ROY, Minnesota State University-Mankato

Jan. 5, 8:00 am

The Economic History of Trade and Growth

Presiding: JOSEPH P. FERRIE, Northwestern University

GUILLAUME DAUDIN, University of Edinburgh and OFCE, Sciences Po Paris—A Geography of Domestic Trade in the Late 18^th Century France

DAVID S. JACKS and KRISHNA PENDAKUR, Simon Fraser University—Global Trade and the Maritime Transport Revolution

NOEL D. JOHNSON, California State University-Long Beach—Political Instability, Institutions, and Economic Growth: 1860-2000

MAX-STEPHAN SCHULZE, London School of Economics, and NIKOLAUS WOLF, Free University of Berlin—Harbingers of Dissolution? Grain Prices, Borders, and Nationalism in the Late-Nineteenth century Habsburg Empire

Discussants: KRIS MITCHENERE, Santa Clara University

ERIC HILT, Wellesley College

DOUG IRWIN, Dartmouth College

MARC WEIDENMEIR, Claremont McKenna College

Jan. 5, 8:00 am

ES

Defaults

Presiding: ROD GARRATT, University of California-Santa Barbara

ALOISIO ARAUJO, IMPA and Getúlio Vargas Foundation, and BRUNO FUNCHAL, Getúlio Vargas Foundation--How Much Debtors' Punishment?

MARZENA ROSTEK and MAREK WERETKA, Yale University--Institutional Investors and CAPM

YINGYAO HU, University of Texas, and WEI TAN, State University of New York-Stony Brook--Empirical Testing of Adverse Selection and Moral Hazard in the Consumer Credit Card Market

ROD GARRATT, University of California-Santa Barbara, and TODD KEISTER, Federal Reserve Bank of New York--Bank Runs as Coordination Failures: An Experimental Study

Jan. 5, 8:00 am

ES

Microeconometrics

Presiding: IVAN FERNANDEZ-VAL, Boston University

YONGMIAO HONG and WENJIE ZHANG, Cornell University--An Improved Nonparametric Entropy Estimator for Serial Dependence

TIEMEN WOUTERSEN, Johns Hopkins University--A Simple Way to Calculate Confidence Intervals for Partially Identified Parameters

BRENT KREIDER, Iowa State University, and JOHN PEPPER, University of Virginia--Identification of Binary Outcome Distributions with Multiplicative Contamination

IVAN FERNANDEZ-VAL, Boston University, and FRANK VELLA, Georgetown University--Bias Corrections for Two-Step Fixed Effects Panel Data Estimators

Jan. 5, 8:00 am

ES

Semiparametric/Nonsemiparametic Methods

Presiding: ERIC RENAULT, University of North Carolina

MICHAEL JANSSON, University of California-Berkeley--Semiparametric Power Envelopes for Tests of the Unit Root Hypothesis

MATTHEW HARDING, Massachusetts Institute of Technology and Harvard University, and JERRY HAUSMAN, Massachusetts Institute of Technology--Semi-Parametric Estimation of the Taste Distribution in Random Coefficients Logit Models

THOMAS A. SEVERINI, Northwestern University, and GAUTAM TRIPATHI, University of Connecticut—Estimating Linear Functionals of Nonparametric Regression Models with Endogenous Regressors

MARINE CARRASCO, Universite de Montreal--Instrumental Variables Estimators Based on Principal Components

Jan. 5, 8:00 am

Empirical and Experimental Studies of Strategic Voting

Presiding: JOHN DUFFY, University of Pittsburgh

DAVID K. LEVINE, Washington University-St. Louis, and THOMAS PALFREY, Princeton University-- The Paradox of Voter Participation: An Experimental Study

JOHN DUFFY, University of Pittsburgh, and MARGIT TAVITS, University of Missouri--Beliefs and Voting Decisions: A Test of the Pivotal Voter Model

MARCO BATTAGLINI, Princeton University, REBECCA MORTON, New York University, and
THOMAS PALFREY, Princeton University--The Swing Voter's Curse in the Laboratory

STEPHEN COATE, Cornell University, MICHAEL CONLIN, Michigan State University, and ANDREA MORO, Federal Reserve Bank of New York--The Performance of the Pivotal Voter Model in Small-scale Elections: Evidence from Texas Liquor Referenda

Discussants: MICHAEL CONLIN, Michigan State University

MARCO BATTAGLINI, Princeton University

JOHN DUFFY, University of Pittsburgh

DAVID K. LEVINE, Washington University-St. Louis

Jan. 5, 8:00 am

ES

Wage Dynamics

Presiding: JEAN-MARC ROBIN, Universite Paris 1, University College London, IFS and CEPR

HAMISH LOW, University of Cambridge, COSTAS MEGHIR, University College London,
and LUIGI PISTAFERRI, Stanford University--Wage Risk and Employment Risk over the Life Cycle

JOSEPH G. ALTONJI, ANTHONY A. SMITH, and IVAN VIDANGOS, Yale University-- Modeling Earnings Dynamics

JESPER BAGGER, University of Aarhus, FRANCOIS FONTAINE, University of Strasbourg,
FABIEN POSTEL-VINAY, University of Bristol and PSE, JEAN-MARC ROBIN, Universite Paris 1 and University College London--A Feasible Equilibrium Model of Individual Wage Dynamics With Human Capital Accumulation

MAGALI BEFFY, CREST-INSEE, MOSHE BUCHINSKY, University of California-Los Angeles,
DENIS FOUGÈRE, CREST-INSEE, THIERRY KAMIONKA , CREST-INSEE and FRANCIS KRAMARZ, CREST-INSEE--The Returns to Seniority in France (and Why Are They Lower than in the U.S)

Jan. 5, 8:00 am

Firms’ Behavior, Financial Imperfections, and the Macroeconomy

Presiding: VIVIAN ZHANWEI YUE, New York University

VIVIAN ZHANWEI YUE, New York University, and URBAN JERMANN, University of Pennsylvania--Interest Rate Swaps and Corporate Swap

CRISTINA ARELLANO, University of Minnesota, YAN BAI, Arizona State University, and
JING ZHANG, University of Michigan--Enforcement, Incomplete Contracts and Firms

MIKLOS KOREN, Federal Reserve Bank of New York, LASZLO HALPERN, Hungarian Academy of Sciences, and ADAM SZEIDL, University of California-Berkeley--Imports and Productivity

ESPEN HENRIKSEN, University of Oslo--Post-war Capital Restrictions, Demographics and Welfare Costs

Discussants: ADRIEN VERDELHAN, Boston University

ERWAN QUINTIN, Federal Reserve Bank of Dallas

DOIREANN FITZGERALD, University of California-Santa Cruz

MARCELO OVIEDO, Iowa State University

Jan. 5, 8:00 am

HERO

The Economics of Obesity

Presiding: TOMAS PHILIPSON, University of Chicago

JOHN CAWLEY, JOHN MORAN, and KOSALI SIMON, Cornell University—You Can Never Be Too Rich or Too Thin

JAY BHATTACHARYA and KATE BUNDORF, Stanford University—Incidence of Health Care Costs of Obesity

LAN LIANG and BARBARA SCHONE, Agency for Healthcare Research and Quality—Health Insurance and Obesity

Discussants: DIANE WHITEMORE-SCHANZENBACH, University of Chicago

JESSE SHAPIRO, University of Chicago

MICHAEL GROSSMAN, City University of New York

Jan. 5, 8:00 am

HES

The Nature and Significance of Economic Science: Robbins’ Essay, 75 Years On (B2)

Presiding: BRADLEY W. BATEMAN, Grinnell College

SUSAN HOWSON, University of Toronto--The Making of Robbins’ Essay

ROGER E. BACKHOUSE, University of Birmingham, and STEVEN G. MEDEMA, University of Colorado-Denver--Defining Economics: Robbins’ Essay in Theory and Practice

GARY S. BECKER, University of Chicago--Robbins’ Essay and the Scope of Economics

WILLIAM BAUMOL, New York University—The Essay: Static Versus Intertemporal Welfare Issues

Jan. 5, 8:00 am

LERA

Representing Workers without Majority Union Status: Why Not? Why Now?

Presiding: ROBERT BRUNO, University of Illinois-Urbana Champaign

STEVE YOKICH, Cornfield and Feldman

MARVIN GITTLER, Asher, Gittler, Greenfield & D’Alba

LAURIE BURGESS, Katz, Freidman, Eagle, Eisenstein & Johnson

ANDY KRAMER, Jones Day

TONY DOMBROW, Laner Muchin

KEITH KELLEHER, SEIU Local 880

Jan. 5, 8:00 am

LERA

Work Organization in Healthcare: Organizing for Superior Patient Care

Presiding: DANA WEINBERG, Queen’s College

TIMOTHY VOGUS, Vanderbilt University—Organizing for Patient Safety on Hospital Nursing Units

JODY HOFFER GITTELL, Brandeis University—Coordinating Patient Care: A Social Capital Model of High Performance Work Systems

SAUL RUBINSTEIN and CHARLES HECKSCHER, Rutgers University—Organizational Collaboration and the Quality of Health Care Delivery

ANN FROST, University of Western Ontario, BRIAN GOLDEN, University of Toronto, and CLAUDIO MARTIN, University of Western Ontario—Coordinating Patient Care in the Intensive Care Unit

Discussant: SUZANNE GORDON

Jan. 5, 8:00 am

LERA

AILR/LERA Best Papers

Presiding: BRUCE KAUFMAN, Georgia State University

BEN DUNFORD, DEIDRA SCHLEICHER, and LIANG ZHU, Purdue University--Consequences of Employee Investments in Company Stock: More Harm than Good or Just Unnecessary

VIDU BADIGANNAVAR, University of Birmingham--Does Labor-Management Partnership Deliver Mutual Gains? Evidence from the UK Public Service

PAUL WILLMAN and ALEX BRYSON, London School of Economics--Accounting for Collective Action: Resource Acquisition and Mobilization in British Unions

PATRICE JALETTE, University of Montreal, and ROBERT HEBDON, McGill University--Union Response to Public Sector Restructuring: Strategic Choices or Single-Minded Opposition?

CRAIG MACMILLAN, Macquarie University--Internal Labor Markets: An Institutional Perspective on Recent Research in Personnel Economics

DANIELLE VAN JAARSVELD, University of British Columbia--Boom & Bust: Lessons from the IT Workforce

Jan. 5, 8:00 am

MEEA

Exchange Rate Regimes and Economic Performance in the Middle East and North Africa (F3)

Presiding: ADAM B. ELHIRAIKA, United Nations Economic Commission for Africa

MAHMOUD ABDELBAKY, Southern Illinois University--Identifying “De-Facto” Exchange Rate Regimes in MENA (An Alternative Markov Switching Approach)

ELIAS EL-ACHKAR, Association of Banks in Lebanon, and WASSIM SHAHIN, Lebanese American University--Conventional Fixed Peg Arrangements and Price Stability in Select MENA Countries

MOHAMED BENBOUZIANE and ABDELHAK BENAMAR, University of Tlemcen, Algeria--The Impact of Exchange Rate Regimes on the Real

BASSEM KAMAR, International Monetary Fund, and DAMYANA BAKARDZHIEVA, University of Monaco--Reconciling Monetary Policy and Exchange Rate Policy to Enhance Growth: Application to Egypt

HAWKAT HAMMOUDEH, Drexel University, and EISA ALEISA, International Monetary Fund--A Common Currency Peg in the GCC Area: The Optimal Choice of Exchange Rate Regime

Discussants: JAY SQUALLI, Zayed University, UAE

RIZA DEMIRER, Southern Illinois University-Edwardsville

ALI F. DARRAT, Louisiana Tech University

A.YASEMIN YALTA, Fordham University

VUSLAT US, Central Bank of Turkey

Jan. 5, 8:00 am

NEA

Crime, Criminal Justice, and African Americans (D0)

Presiding: JOHN A. KARIKARI, U.S. Government Accountability Office

KWABENA GYIMAH-BREMPONG, University of South Florida, and JULIET ELU, Spelman College--Does Affirmative Action in Policing Increase Crime?

GREGORY PRICE, Jackson State University--Crime and Obesity

PATRICK MASON, Florida State University--Race and Sentencing in the United States

GREGORY PRICE, Jackson State University--Broken Windows in the ‘Hood: Crime and Housing Characteristics

Discussants: JOHN A. KARIKARI, U.S. Government Accountability Office

ELIZABETH ASIEDU, University of Kansas

SUSAN FEINER, University of Southern Maine
JULIET ELU, Spelman College

Jan. 5, 8:00 am

NAEFA

Industrial Organization (L0)

Presiding: MUHAMMAD MUSTAFA, South Carolina State University

JAMES A. BROX, University of Waterloo--Investment in Information and Communications Technology and the Canadian Productivity Gap

LUIS SAN VICENTE PORTES, Montclair State University--Multinational Corporations and the Moderation of U.S. Output Volatility

STEPHEN RUBB, Sacred Heart University, and MICHAEL A. QUINN, Bentley College--Education-Occupation Matching and Family Migration in the United States

JOSHUA J. LEWER, West Texas A&S University--Growth Determinants for Columbia: National and Regional panel Data Evidence, 1964-2002

BRADLEY T. EWING, Rawls College of Business, and PHANINDRA V. WUNNAVA, Middlebury College—Characterizing the Long-Run Relationship between Union and Non-Union Wages in a Vector Error Correction Framework

Discussants: MEHDI HARIRIAN, Bloomsburg University

KWAN KIM, University of Notre Dame

MATIUR RAHMAN, McNeese State University

Jan. 5, 8:00 am

SGE

Child Care and the American Time Use Survey

Presiding: CHARLENE M. KALENKOSKI, Ohio University

CHARLENE M. KALENKOSKI, Ohio University, DAVID C. RIBAR, George Washington University, and LESLIE S. STRATTON, Virginia Commonwealth University--Family Structure and Adolescents’ Time Use

JEAN KIMMEL, Western Michigan University, and RACHEL CONNELLY, Bowdoin College--Time Allocation in a Family Setting: Constructing Synthetic Couples with the ATUS

MARY DORINDA ALLARD, U.S. Bureau of Labor Statistics, SUZANNE BIANCHI, University of Maryland, and JAY STEWART, U.S. Bureau of Labor Statistics--How Does Employment Affect the Timing of Time with Children?

ANNE E. WINKLER and THOMAS R. IRELAND, University of Missouri-St. Louis--Time Spent in Household Management: Implications for Forensic Economic Analysis

Discussants: NANCY FOLBRE, University of Massachusetts

LESLIE STRATTON, Virginia Commonwealth University

IRINA PALEY, U.S. Department of the Treasury

SABRINA PABILONIA, U.S. Bureau of Labor Statistics

Jan. 5, 8:00 am

URPE

Current Trends in Turkish Economy (P5)

Presiding: BENAN ERES, Ankara University, Turkey

OZGE OZAY, University of Utah—Price-Wage Determination Mechanisms in the Turkish Textile Sector: 1980-2005

EMEL MEMIS, University of Utah—A Sectoral Analysis of Wages and Profitability Trends Under the Export- Led Regime in the Turkish Manufacturing Industry

OZGE IZDES, University of Utah—Evolution of Labor Market in the Structural Adjustment Era- Case of Turkey

OZDEN BIRKAN, University of Utah—Alternative Measures of Currency Substitution in Turkey

Discussant: BENAN ERES, Ankara University, Turkey

Jan. 5, 8:00 am

URPE/IAFFE

Gender and Development: Assessing Investments, Empowerment Strategies, and

Measuring Women’s Progress (O1)

Presiding: GUNSELI BERIK, University of Utah

CAREN GROWN, DIANE ELSON, Levy Economics Institute at Bard College, CHANDRIKA BAHADUR, and JESSIE HANDBURY, UN Millennium Project—The Financial Requirements of Achieving Gender Equality and Women’s Empowerment in Low Income Countries

RAMYA M. VIJAYA, Richard Stockton College—Trade, Jobs, and Gender Trends

SUCHARITA SINHA, University of California-Riverside—The Conundrum of Development: Increasing Literacy and Female Disadvantage in Urban India

FARIDA C. KHAN, University of Wisconsin-Parkside—Localizing Gender Development Indices: The South Asian Particular

Discussants: GUNSELI BERIK, University of Utah

JERRY EPSTEIN, University of Massachusetts-Amherst

STEPHANIE SEGUINO, University of Vermont

Jan. 5, 10:15 am

AFEA

Institutions, Policy and Micro and Sectoral Performance in African Countries

Presiding: OLADELE OMOSEGBON, Indiana Wesleyan University

MESFIN BEZUNEH and ZELEALEM YIHEYIS, Clark Atlanta University—Has Trade Liberalization Reduced the Incidence of Malnutrition in Developing Countries?

KWABIA BOATENG, UNECA—Higher Education and the Labor Market: A Logical Framework for Policy Makers in Africa’s Education Sector

MINA BALIAMOUNE-LUTZ, University of North Florida, and LEONCE NDIKUMANA, University of Massachusetts—The Growth Effects of Openness to Trade and the Role of Institutions: The Case of Sub-Saharan Africa

ELIZABETH ASIEDU, University of Kansas, and BOAZ NANDWA, Yale University—Explaining the Differences in HIV/AIDS Infection Rates in Sub-Saharan Africa

Discussants: DANIEL GBETNKOM, University of Yaounde II

MESHACH AZIAKPONO, Rhodes University, South Africa

AKPAN H. EKPO, University of Uyo, Nigeria

ALADELE OMOSSEGBON, Indiana Wesleyan University

Jan. 5, 10:15 am

AAEA

Wealth Dynamics, Risk Preferences, and Threshold Effects (Q1)

Presiding: TRAVIS J. LYBBERT, University of California-Davis

TRAVIS J. LYBBERT, University of California-Davis, and CHRISTOPHER B. BARRETT, Cornell University—Risk Responses to Dynamic Asset Thresholds

DAVID BUSCHENA, JOSEPH ATWOOD, Montana State University,and DAVID ZILBERMAN, University of California-Berkeley—Risk Attitudes for Income under Discrete Status Levels, with Application to Financial Transaction Costs

DAVID R. JUST, Cornell University--Wealth as Welfare: Are Wealth Thresholds Behind Persistent Poverty?

Discussant: MICHAEL CARTER, University of Wisconsin-Madison

Jan. 5, 10:15 am

AEA

Capital Market Frictions (G1)

Presiding: LASSE HEJE PEDERSEN, New York University

MARK SEASHOLES and TERRENCE HENDERSHOTT, University of California-Berkeley—Market Maker Inventories and Stock Prices

LASSE HEJE PEDERSEN, New York University—Capital Flows and Corporate Bond Yields

ADAM ASHCRAFT, Federal Reserve Bank of New York, and DARRELL DUFFIE, Stanford University—Systemic Illiquidity in the Federal Funds Market

Discussants: GIDEON SAAR, Cornell University

HONGJUN YAN, Yale University

GUILLAUME PLANTIN, London Business School

Jan. 5, 10:15 am

AEA

The Interrelationship between Cognitive and Non-Cognitive Skills (J3)

Presiding: GARY S. BECKER, University of Chicago

FLAVIO CUNHA and JAMES HECKMAN, University of Chicago—The Evolution of Cognitive and Non-Cognitive Skills over the Lifecycle of the Child

LEX BORGHANS, HUUB MEIJERS, and BAS TER WEEL, Maastricht University—The Importance of Non-Cognitive Skills for Cognitive Test Scores

SHANE FREDERICK, Massachusetts Institute of Technology—Cognitive Reflection and Decision Making

Discussants: LEX BORGHANS, Maastricht University

BRIAN A. JACOB, Harvard University

CATHERINE J. WEINBERGER, University of California-Santa Barbara

Jan. 5, 10:15 am

AEA

Behavioral Game Theory (C9)

Presiding: JOSEPH TAO-YI WANG, California Institute of Technology

JOSEPH TAO-YI WANG, MORAN SURF, and COLIN F. CAMERER, California Institute of Technology—Studying Learning in Games Using Eye-Tracking

MIGUEL A. COSTA-GOMES, University of York, and VINCENT P. CRAWFORD, University of California-San Diego—Studying Cognition by Monitoring Information Search in Guessing Games

MEGHANA BHATT, California Institute of Technology, TERRY LOHRENZ, READ MONTAGUE, Baylor College of Medicine, and COLIN F. CAMERER, California Institute of Technology—The Neural Mechanisms of Second Order Belief and Deception in Bargaining Games with Cheap Talk

Discussants: VINCENT P. CRAWFORD, University of California-San Diego

COLIN F. CAMERER, California Institute of Technology

DAVID K. LEVINE, University of California-Los Angeles

Jan. 5, 10:15 am

AEA

Intrinsic Motivation, Organization and Institutions

Presiding: PAUL GROUT, University of Bristol

TIMOTHY BESLEY and MAITREESH GHATAK, London School of Economics—Organization Design with Motivated Agents

PATRICK FRANCOIS, University of British Columbia—Norms and Institutional Change

PAUL GROUT, University of Bristol, and WENDELIN SCHNEDLER, University of Heidelberg—Why is Donated Labor in Organizations So Delicate?

SHEEN S. LEVINE, Singapore Management University, and EDWARD J. ZAJAC, Northwestern University—The Social Life of Financial Bubbles

Jan. 5, 10:15 am

AEA

Asymmetric Information and Moral Hazard in Insurance Markets (D8)

Presiding: HANMING FANG, Yale University

PATRICK BAJARI, University of Minnesota, HAN HONG, and AHMED KHWAJA, Duke University—Semiparametric Analysis of Adverse Selection and Moral Hazard in Health Insurance Contracts

AMY FINKELSTEIN and JAMES POTERBA, Massachusetts Institute of Technology—Testing for Adverse Selection with “Unused Observables”

LIRAN EINAV, Stanford University, and AMY FINKELSTEIN, Massachusetts Institute of Technology—The Costs and Benefits of Choice in Social Insurance: Evidence from the UK Annuity Market

HANMING FANG, Yale University, MICHAEL KEANE, University of Technology, Australia, and DAN SILVERMAN, University of Michigan—Sources of Advantageous Selection: Evidence from the Medigap Insurance Market

Discussants: SUSUMU IMAI, Queens University, Canada

LIMOR GOLAN, Carnegie Mellon University

ALESSANDRO LIZERRI, New York University

JEFFREY BROWN, University of Illinois-Urbana-Champaign

Jan. 5, 10:15 am

AEA

Capital Flows and Productivity (F2)

Presiding: SEBNEM KALEMLI-OZCAN, University of Houston and NBER

SEBNEM KALEMLI-OZCAN, University of Houston and NBER, MEHMET EKINCI, University of Rochester, and BENT SORENSEN, University of Houston—Wny Are Capital Flows between Regions So Different from Capital Flows between Countries? Evidence from Europe

AYHAN KOSE, ESWAR PRASAD, and MARCO TERRONES, International Monetary Fund—How Does Globalization Effect Risk Sharing? Patterns and Channels

PIERRE-OLIVIER GOURINCHAS, University of California-Berkeley and NBER, and OLIVIER JEANNE, International Monetary Fund—Capital Flows to Developing Countries: The Allocation Puzzle

TATIANA DIDIER, ROBERTO RIGOBON, Massachusetts Institute of Technology, and SERGIO SCHMUKLER, World Bank—Unexploited Gains from International Diversification

Discussants: PHILIP HARTMAN, European Central Bank

PETER BLAIR HENRY, Stanford Business School and NBER

FABIO GHIRONI, Boston College and NBER

MICHAEL KLEIN, Tufts University and NBER

Jan. 5, 10:15 am

AEA

Household Finance: Cognition and Decision Making (D9)

Presiding: CHRISTOPHER SNYDER, Dartmouth College

VICTOR STANGO and JONATHAN ZINMAN, Dartmouth College—Fuzzy Math and Red Ink: Payment/Interest Bias and Household Finance

DANIEL BENJAMIN, Harvard University, and JESSE SHAPIRO, University of Chicago—Who is “Behavioral”? Cognitive Ability and Anomalous Preferences

ANNAMARIA LUSARDI, Dartmouth College, and OLIVIA MITCHELL, University of Pennsylvania—Financial Illiteracy and Planning: Implications for Retirement Well-Being

Discussants: XAVIER GABAIX, Massachusetts Institute of Technology

PHILIP BOND, University of Pennsylvania

STEFANO DELLAVIGNA, University of California-Berkeley

Jan. 5, 10:15 am

AEA

Structural Change and the Decline in Manufacturing (O1)

Presiding: FRANCISCO BUERA, Northwestern University

DARON ACEMOGLU and VERONICA GUERRIERI, Massachusetts Institute of Technology—Capital Deepening and Non-Balanced Economic Growth

FRANCISCO BUERA, Northwestern University, and JOSEPH KABOSKI, Ohio State University—Scale Economies and Structural Change

KIMINORI MATSUYAMA, Northwestern University—Productivity-Based Theory of Manufacturing Employment Decline: An International Perspective

RACHEL NGAI and CHRISTOPHER PISSARIDES, London School of Economics—Trends in Hours and Economic Growth

Jan. 5, 10:15 am

AEA

Productivity-Enhancing Reallocation: Comparative International Evidence (O5)

Presiding: JOHN EARLE, Upjohn Institute for Employment Research and Central European University

ERIC BARTELSMAN, Free University of Amsterdam, JOHN HALTIWANGER, University of Maryland, and STEFANO SCARPETTA, World Bank—Reallocation and Productivity Growth: The FAQs

ALVARO ESCRIBANO, Universidad Carlos III Madrid, and J. LUIS GUASCH, World Bank—Assessing the Impact of the Investment Climate on Productivity Using Firm-Level Data: Methodology

HELENA SCHWEIGER, European Bank for Reconstruction and Development—The Impact of State Aid for Restructuring on the Allocation of Resources

J. DAVID BROWN, Heriot-Watt University, JOHN EARLE, Upjohn Institute for Employment Research and Central European University—Productivity-Enhancing Reallocation under Socialism and in Transition: A Comparative International Study

Discussants: MARK DOMS, Federal Reserve Bank of San Francisco

ERIC BARTELSMAN, Free University of Amsterdam

CHAD SYVERSON, University of Chicago

ARIEL PAKES, Harvard University

Jan. 5, 10:15 am

AEA

Wars, Finance, and War Finance (E6, N4)

Presiding: SHAUN VAHEY, Reserve Bank of New Zealand and Norges Bank

FARLEY GRUBB, University of Delaware—The Net Asset Position of the U.S. National Government, 1784-1802: Hamilton’s Blessing or the Spoils of War?

WILLIAM SILBER, New York University—The Great Financial Crisis of 1914: What Can We Learn from Aldrich-Vreeland Emergency Currrency?

SHAUN VAHEY, Reserve Bank of New Zealand and Norges Bank, and JIM NASON, Federal Reserve Bank of Atlanta—WWI Finance and the UK Interwar Depression

EUGENE WHITE, FILIPPO OCCHINO, Rutgers University, and KIM OOSTERLINCK, Solvay Business School, Free University Brussels—How Occupied France Financed Its Own Exploitation in World War II

Jan. 5, 10:15 am

AEA

New Approaches to International Trade (F1)

Presiding: ANDREW ATKESON, University of California-Los Angeles

JONATHAN EATON, New York University, ROBERT DEKLE, University of Southern California, and SAMUEL KORTUM, University of Minnesota—New Configurations of Global Production and Trade: Implications of China’s Emergence

FLORIN BILBLIE, Oxford University, FABIO GHIRONI, Boston College, and MARC MELITZ, Harvard University—Trade Flow Dynamics with Heterogeneous Firms

ANDREW ATKESON and ARIEL BURSTEIN, University of California-Los Angeles—Pricing to Market with Heterogeneous Firms

Discussants: HUGO HOPEHAYN, University of California-Los Angeles

CHANG-TAI HSIEH, University of California-Berkeley

GITA GOPINATH, Harvard University

Jan. 5, 10:15 am

AEA

K-12 Economic and Financial Literacy Education

Presiding: ELIZABETH WEBBINK, National Council on Economic Education

ROBERT F. HODGIN, University of Houston-Clear Lake, STEVEN L. COBB, University of North Texas, and ALBERTO DAVILA, University of Texas-Pan American—Field Testing Novel Digital Learning Modules for Economics in the Third Millennium

PAUL W. GRIMES, MEGHAN MILLEA, and M. KATHLEEN THOMAS, Mississippi State University—Establishing a Baseline Measure of Teacher Economic Literacy in Mississippi

JOHN R. SWINTON, Georgia College & State University, BENJAMIN P. SCAFIDI, JR., Georgia State University, and THOMAS W. DE BERRY, North Georgia College & State University—Evaluation on Effectiveness of Workshops Offered by the Georgia Council on Economic Education

CYNTHIA L. HARTER and JOHN F.R. HARTER, Eastern Kentucky University—Assessing the Effectiveness of Financial Fitness for Life in Eastern Kentucky

Discussants: RICHARD A. MACDONALD, St. Cloud State University

JANE LOPUS, California State University-East Bay

WILLIAM BOSSHARDT, Florida Atlantic University

HELEN H. ROBERTS, University of Illinois-Chicago

Jan. 5, 10:15 am

AEA

75^th Anniversary of Hicks’ Introduction of the Elasticity of Substitution between Labor and Capital

Presiding: ROBERT CHIRINKO, Emory University

RAINER KLUMP, Frankfurt University, PETER MCADAM, and ALPO WILLMAN, European Central Bank—A Supply Side Diagnosis of Growth in the Euro Area (1970-2005): Factor Substitution Technology, Productivity and Unemployment

DEBDULAL MALLICK, Emory University—What Role for the Elasticity of Substitution in Economic Growth? A Cross-Country Test of the de la Grandville Hypothesis

SIMON PRICE, Bank of England, and SEBASTIAN BARNES, OECD—Long-Run Estimates of the Elasticity of Substitution Using UK Firm-Level Data

ROBERT CHIRINKO and DEBDULAL MALLICK, Emory University—The Substitution Elasticity, Growth Theory, and the Low-Pass Filter Panel Model

Discussants: NILS GOTTFRIES, Uppsala University

ELMER STERKEN, University of Groningen

GIOVANNI URGA, Cass Business School

ROBERT SOLOW, Massachusetts Institute of Technology

Jan. 5, 10:15 am

AEA

Parties and Politicians (D7)

Presiding: ANTONIO MERLO, University of Pennsylvania

DAN BERNHARDT, University of Illinois-Urbana-Champaign, LARISSA CAMPUZANO, Mathematica Policy Research, and FRANCESCO SQUINTANI, University College London—On the Benefits of Party Competition

ERNESTO DAL BO, University of California-Berkeley, PEDRO DAL BO, Brown University, and JASON SNYDER, Northwestern University—Running in the Family? Dynastic Transmission of Political Power in the U.S. Congress 1789-1996

ANDREA MATTOZZI, California Institute of Technology, and ANTONIO MERLO, University of Pennsylvania—Political Careers or Career Politicians

Jan. 5, 10:15 am

AEA

Issues in Family/Household Decision Making

Presiding: GAIL HOYT, University of Kentucky

SABRINA PABILONIA, U.S. Bureau of Labor Statistics, and JENNIFER WARD-BATTS, Claremont McKenna College—The Effect of Child Gender on Parent’s Labor Supply: An Examination of Natives, Immigrants, and Their Children

LUCIE SCHMIDT, Williams College, and PURVI SEVAK, Hunter College—Marriage Delay and Private Saving

KASEY BUCKLES, University of Notre Dame—Adoption Subsidies and Adoption Outcomes: An Instrumental Variables Approach

TERRA MCKINNISH, University of Colorado-Boulder—Earnings and Spousal Mobility: Power Couples and Trailing Spouses

Discussants: KRISTIN BUTCHER, Federal Reserve Bank of Chicago

JIM ZILIAK, University of Kentucky

DAN BLACK, Syracuse University

MATTHEW KAHN, Tufts University

Jan. 5, 10:15 am

AEA

Field Experiments on Charitable Giving (C9)

Presiding: DAVID REILEY, University of Arizona

DEAN KARLAN, Yale University, and JOHN LIST, University of Chicago—Does Price Matter in Charitable Giving?

CATHERINE ECKEL, University of Texas-Dallas, and PHILIP GROSSMAN, St. Cloud State University—Charitable Giving to a University: Do Subsidies Increase Donations?

RACHEL CROSON, University of Pennsylvania, and JEN SHANG, Indiana University—Motivations for Giving: Field and Survey Data

Discussants: DAVID REILEY, University of Arizona

STEPHAN MEIER, Federal Reserve Bank of Boston

LISE VESTERLUND, University of Pittsburgh

Jan. 5, 10:15 am

AEA

Contracts and Fairness (D2, D6)

Presiding: ULRIKE MALMENDIER, Stanford University

ERNST FEHR, University of Zurich, and KLAUS SCHMIDT, University of Munich—Adding a Stick to the Carrot? The Interaction of Bonuses and Fines

OLIVER HART, Harvard University, and JOHN HARDMAN MOORE, University of Edinburgh—Flexible versus Rigid Contracts

W. BENTLEY MACLEOD, Columbia University—Social Preferences and the Time Structure of Relational Contracts

Discussants: JEREMY STEIN, Harvard University

PATRICK BOLTON, Columbia University

ROBERT GIBBONS, Massachusetts Institute of Technology

Jan. 5, 10:15 am

AEA

The Relationship between Education and Well-Being (I2)

Presiding: JOSHUA ANGRIST, Massachusetts Institute of Technology

ADRIANA LLERAS-MUNEY, Princeton University, and DAVID CUTLER, Harvard University—Education and Health: Evaluating Theories and Evidence

SUSAN DYNARSKI, Harvard University—How Does College Change Women’s Lives?

PHILIP OREOPOULOS, University of Toronto—Wealth and Happiness from Compulsory Schooling: Recent Evidence from Raising the School Leaving Age to 18 in the United States

MAKI UEYAMA, DEAN LILLARD, and KOSALI SIMON, Cornell University—How Does Parental Education Affect Child Health?

Discussants: MICHAEL GROSSMAN, City University of New York

LAWRENCE KATZ, Harvard University

JOSHUA ANGRIST, Massachusetts Institute of Technology

ADRIANA LLERAS-MUNEY, Princeton University

Jan. 5, 10:15 am

AEA

What Should Development Economists Know? (O1)

Presiding: MARTIN FELDSTEIN, Harvard University and NBER

ARNOLD HARBERGER, University of California-Los Angeles—Can We Identify the Basic Tools Needed for Policy Analysis in Developing Countries?

SIMON JOHNSON, International Monetary Fund—Avoiding the See-Saws of Development Policy

ANNE KRUEGER, International Monetary Fund—Understanding Context and Interlinkages in Development Policy Formulation and Implementation

Discussants: SEBASTIAN EDWARDS, University of California-Los Angeles

ABHIJIT BANERJEE, Massachusetts Institute of Technology

Jan. 5, 10:15 am

AEA/AREUEA

Real Estate Markets and Performance

Presiding: KARL E. CASE, Wellesley College

FRANK NOTHAFT and AMY CREWS CUTTS, Freddie Mac—Up in ARMS: The Interplay of Mortgage and Housing Markets

KARL CASE, Wellesley College, and JOHN QUIGLEY, University of California-Berkeley—Housing Markets and the Real Economy: Demographics and the Cycle

JEFFREY D. FISHER, Indiana University, DAVID LING, and ANDY NARANJO, University of Florida—Returns and Capital Flow Cycles for Commercial Real Estate

ANTHONY SANDERS, Ohio State University—Forward Markets in Housing Prices: What Have We Learned?

Discussants: KERRY VANDELL, University of California-Irvine

CHRIS MAYER, Columbia University

STUART GABRIEL, University of Southern California

WILLIAM GOETZMANN, Yale University

Jan. 5, 10:15 am

AEA/HERO

Economics of Medical Care “Report Cards”

Presiding: DONALD E. YETT, University of Southern California

LORENS HELMCHEN and ANTHONY T. LOSASSO, University of Illinois-Chicago—How Much Performance Can P4P Buy?

LEEMORE DAFNY and DAVID DRANOVE, Northwestern University—Do Report Cards Tell Consumers Anything They Don’t Already Know?

DENNIS SCANLON, Pennsylvania State University, JON CHRISTIANSON, University of Minnesota, and RICHARD LINDROOTH, Medical University of South Carolina—The Effect of a Hospital Safety Incentive and Hospital Reports in an Employed Population

Discussants: DAVID MELTZER, University of Chicago

JAY BHATTACHARYA, Stanford University

KIMBERLY RASK, Emory University

Jan. 5, 10:15 am

AFA

Governance Trade-Offs

Presiding: DANIEL WOLFENZON, New York University

MARIA GUADALUPE and FRANCISCO PEREZ-GONZALEZ, Columbia University—The Impact of Product Market Competition on Private Benefits of Control

ROBERT B.H. HAUSWALD, American University, and ROBERT MARQUEZ, University of Maryland—Governance Mechanisms and Corporate Disclosure

XAVIER GABAIX, Massachusetts Institute of Technology, and AUGUSTIN LANDIER, New York University—Why Has CEO Pay Increased So Much?

Discussants: MATIAS BRAUN, University of California-Los Angeles

NITTAI BERGMAN, Massachusetts Institute of Technology

STEVEN KAPLAN, University of Chicago

Jan. 5, 10:15 am

AFA

Behavior of Individual Investors

Presiding: TERRANCE ODEAN, University of California-Berkeley

MARKUS GLASER, THOMAS LANGER, University of Mannheim, JENS REYNDERS, Siemens Management Consulting, and MARTIN WEBER, University of Mannheim—Framing Effects in Stock Market Forecasts: The Difference between Asking for Prices and Asking for Returns

ANDERS ANDERSON, Swedish Institute for Financial Research—Is Online Trading Gambling with Peanuts?

SOEREN HVIDKJAER, University of Maryland—Small Trades and the Cross-Section of Stock Returns

Discussants: NING ZHU, Yale University

L. FRIEDER, Purdue University

ANDREY UKHOV, Indiana University-Bloomington

Jan. 5, 10:15 am

AFA

Market Efficiency and Professional Investors

Presiding: JENNIFER CONRAD, University of North Carolina-Chapel Hill

EKKEHART BOEHMER, Texas A&M University, and ERIC KELLEY, Washington State University—Institutional Investors and the Informational Efficiency of Prices

ZHI DA and ERNST SCHAUMBURG, Northwestern University—Target Prices, Relative Valuations and the Premium for Liquidity Provision

KLAAS BAKS, JEFFREY A. BUSSE, and T. CLIFTON GREEN, Emory University—Fund Managers Who Take Big Bets: Skilled or Overconfident

Discussants: CHARLES JONES, Columbia University

KENT WOMACK, Dartmouth College

MARK CARHART, Goldman Sachs Group, Inc.

Jan. 5, 10:15 am

AFA

Equity Trading

Presiding: CHESTER SPATT, Securities and Exchange Commission and Carnegie Mellon University

CHRISTOPHER GECZY and JINGHUA YAN, University of Pennsylvania—Who Are the Beneficiaries When Insiders Trade? An Examination of Piggybacking in the Brokerage Industry

AMBER ANAND, University of Central Florida, SUGATO CHAKRAVARTY, Purdue University, and CHAIRAT CHUWONGANANT, Indiana University-Purdue University-Fort Wayne—Cleaning House: Stock Reassignments on the NYSE

EKKEHART BOEHMER and JULIE WU, Texas A&M University—Order Flow and Prices

Discussants: MAHENDRARAJAH NIMALENDRAN, University of Florida

SHANE CORWIN, University of Notre Dame

STEWART MAYHEW, Securities and Exchange Commission

Jan. 5, 10:15 am

AFA

Derivatives

Presiding: JUN PAN, Massachusetts Institute of Technology

ALESSANDRO BEBER, University of Lausanne, and MICHAEL W. BRANDT, Duke University—Resolving Macroeconomic Uncertainty in Stock and Bond Markets

ROSSEN I.VALKANOV, University of California-Los Angeles, PRADEEP K. YADAV, Lancaster University, and YUZHAO ZHANG, University of California-Los Angeles—Does the Early Exercise Premium Contain Information about Future Underlying Returns?

CAIO ALMEIDA, Ibmec, Parana, JEREMY J. GRAVELINE, and SCOTT JOSLIN, Stanford University—Do Options Contain Information about Excess Bond Returns?

Discussants: MICHAEL JOHANNES, Columbia University

NICOLAS P.B. BOLLEN, Vanderbilt University

MIKHAIL CHERNOV, Columbia University

Jan. 5, 10:15 am

AREUEA

Urban Spatial Economics

Presiding: R. KELLEY PACE, Louisiana State University

PETER ENGLUND, Stockholm School of Economics, AKE GUNNELIN, BO SODERBERG, Royal Institute of Technology, and PATRIC HENDERSHOTT, University of Aberdeen and San Diego State University--Asymmetric Behavioral Responses and Adjustment in the Space Market

RICHARD W. MARTIN, University of Georgia, and RAPHAEL W. BOSTIC, University of Southern California--Does Housing Affordability Contribute to Spatial Mismatch

JUN CHEN, HAIBO HUANG, RUIJUE PENG, and JINBAO TONG, Property & Portfolio Research, Inc.--Measuring Intertemporal Spatial Evolution of Rents and Prices: How Do Drivers Differ by Urban Forms

DAVID MORRIS FRANKEL, Iowa State University, and OSCAR VOLIJ, Ben Gurion University--Measuring Segregation

Discussants: SHAUN BOND, University of Cambridge

DOUG KRUPKA, Georgia State University

R. KELLEY PACE, Louisiana State University

ELLEN HANAK, Public Policy Institute of California

Jan. 5, 10:15 am

ACES

Comparative Economic Systems at the Regional Level (In memory of John Michael

Montias) (R1)

Presiding: WOLFRAM SCHRETTL, Free University of Berlin

NICOLA FUCHS-SCHUENDELN and RIMA IZEM, Harvard University--Explaining Low Levels of Labor Productivity in the Region of Eastern Germany: A Spatial Analysis

MONIKA SCHNITZER, Ludwig Maximilian University, Munich, and CLAUDIA BUCH, University of Tuebingen--The Drive for German Cross Regional Investment to Transition Economies

ANDREA BOLTHO, Magdalen College, University of Oxford--Why Do Some Regional Differentials Persist and Others Do Not? Italy and Spain Compared

JOHN HALL, Portland State University, and UDO LUDWIG, Halle Institute for Economic Research—Convergence Through Migration

Discussant: JOHN MARANGOS, Colorado State University

Jan. 5, 10:15 am

AFEE

Social Fabric Matrix for Policy Analysis (B4)

Presiding: F. GREGORY HAYDEN, University of Nebraska-Lincoln

STEVEN BOLDUC, Minnesota State University-Moorhead--The Need for and Challenge of

Balancing Public Participation and Scientific Expertise in Ecological Policy Debates: A Social

Fabric Matrix Approach

SCOTT T. FULLWILER, Wartburg College, and GEOFFREY ALLEN, TD Ameritrade--Can the Fed Target Inflation? An Institutionalist Approach

TRISTAN MARKWELL, University of Nebraska-Lincoln--Microsoft Excel and the Social Fabric Matrix: Corporate Networks and Beyond

TARA NATARAJAN, St. Michael’s College--The Industrialization of Indian Agriculture: Deploying a Development Agenda

JERRY L. HOFFMAN, Nebraska Coalition for Educational Equity and Adequacy, and F. GREGORY HAYDEN, University of Nebraska-Lincoln--Using the Social Fabric Matrix to Seek Adequacy in Education

Discussant: GREGORY HAYDEN, University of Nebraska-Lincoln

Jan. 5, 10:15 am

AFEE

Institutionalism and Comparative Economic Systems (P5)

Presiding: DELL CHAMPLIN, Western Washington University

ARISTIDIS BITIZENIS, University of Macedonia, Greece and JOHN MARANGOS, Colorado State University--Globalization and Integration-Assisted Transition in Central and Eastern European

Economies

CHRISTOS KALANTARIDIS, University of Teesside, UK--Institutional Change in Post-Socialist Regimes: Public Policy and Beyond

GEOFFREY SCHNEIDER, Bucknell University--Sweden’s Economic Recovery and the Theory of Comparative Institutional Advantage

ERIC HAKE, Eastern Illinois University--The Microfoundations of Comparative Economics

RULA QALYOUBI KEMP, University of Wisconsin-Stout, and THOMAS A. KEMP, University of Wisconsin-Eau Claire--Reciprocity in Jordan’s Economy

Discussant: WILLIAM BARNES, University of Portland

Jan. 5, 10:15 am

ASE

Remembering Robert L. Heilbroner, Social Economist

Presiding: INGRID RIMA, Temple University

ROBERT W. DIMAND and ROBERT H. KOEHN, Brock University--Heilbroner and Bernstein on Fiscal Policy and the Twin Deficits

WILLIAM MILBERG, New School for Social Research--The "New Economy" in The Making of Economic Society

CHARLES M. A. CLARK, St. John's University--On Values and Value Theory

MATHEW FORSTATER, University of Missouri, Kansas City—Vision, Scenario, Analysis: Instrumental Interpretations for Public Policy

Discussant: DEIRDRE MCCLOSKEY, University of Illinois, Chicago and Rotterdam University

Jan. 5, 10:15 am

ACE

The Role of Religion in Twentieth Century Political Economy: Insights from Hayek, Knight, Smith, and Viner

Presiding: BRADLEY BATEMAN, Grinnell College

LAURENCE R. IANNACCONE, George Mason University--Religion and the Economic Order: Insights from Smith, Hayek, and Smith

PETER BOETTKE, George Mason University--The Role of Providence in the Social Order: Insights from Jacob Viner

KENNETH ELZINGA, University of Virginia, and MATTHEW GIVENS, CHD Meridian--Hayek and Christianity

ROSS EMMETT, Michigan State University--Religion and the Limits of Liberalism: Frank H. Knight’s Early Views

Jan. 5, 10:15 am

AERE

The European Union’s Emissions Trading System: A Roundtable Assessment (Q5)

Presiding: ROBERT STAVINS, Harvard University

FRANK CONVERY, University College Dublin

DENNY ELLERMAN, Massachusetts Institute of Technology

WILLIAM PIZER, Resources for the Future

Jan. 5, 10:15 am

AFE

Corporate Governance and Performance I

Presiding: ANIL MAKHIJA, Ohio State University

KENNETH LEHN, SUKESH PATRO, University of Pittsburgh, and MENGXIN ZHAO, Bentley College--Governance Indices and Valuation Multiples: Which Causes Which?

N. K. CHIDAMBARAN, DARIUS PALIA, and YUDAN ZHENG, Rutgers University--Does Better Corporate Governance “Cause” Better Firm Performance?

DIANA KNYAZEVA, New York University--Corporate Governance, Analyst Following and Firm Behavior

Discussants: TONI M. WHITED, University of Wisconsin

JEFFREY L. COLES, Arizona State University

JAY C. HARTZELL, University of Texas-Austin.

Jan. 5, 10:15 am

AIES

State of the Indian Economy (Roundtable)

Presiding: TEJ K. KAUL, Western Illinois University

SUHAS KETKAR, Vanderbilt University

VAMAN RAO, Western Illinois University

RAJINDER KOSHAL, Ohio University

SURESH DESAI, Montclair State University

Jan. 5, 10:15 am

CEANA

Re-Examining the Long-Term Growth Prospects of the Chinese Economy (O1)

Presiding: HENRY WAN, Cornell University

HENRY WAN, Cornell University--Consistency Checks in Forecasting Chinese Growth

KAR YIU WONG, University of Washington--Why Is China Growing So Fast? The Role of Efficient Resource Allocation

YING WONG CHEUNG, University of California-Santa Cruz--Renminbi Undervaluation: A Statistical Illusion

WING THYE WOO, University of California-Davis--China's Return to a Crowded World Stage: External Constraints and Internal Barriers

Discussants: QINGLAI MENG, Chinese University of Hong Kong

BEN-CHIEH LIU, Chicago State University

KEVIN H. ZHANG, Illinois State University

HONG HWANG, National Taiwan University and Research Center for Humanities and Social Sciences Academia Sinica

Jan. 5, 10:15 am

Institutions and History: Land, Trade, and Labor Markets

Presiding: WERNER TROESKEN, University of Pittsburgh and NBER

CLIFF BEKAR, Lewis and Clark College, and CLYDE REED, Simon Fraser University—Distributional Dynamic in a Stochastic environment with Tradable Assets: Medieval English Land Markets

JOYCE BURNETTE, Wabash College—Child Day-Laborers in Agriculture: Evidence from Farm Accounts, 1740-1850

ROBERT K. FLECK and F. ANDREW HANSSEN, Montana State University—“Rulers Ruled by Women”: An Economic Analysis of the Rise and Fall of Women’s Rights in Ancient Sparta

OSCAR GELDERBLOM, Universitet Utrecht, and REGINA GRAFE, Nuffield College, Oxford—Towards a Comparative Analsysis of Commercial Institutions in Pre-modern Europe: The Organization of Merchant Communities in Spain and the Low Countries (1250-1650)

Discussant: WERNER TROESKEN, University of Pittsburgh and NBER

MARISTELLA BOTTICINI, Boston University and University of Torino

J. PETER FERDERER, Macalester College

JOHN MURRAY, University of Toledo

Jan. 5, 10:15 am

ES

The Modern Workplace: Firm Organization, Worker Training and Job Characteristics

Presiding: PETRA TODD, University of Pennsylvania

GERARD PFANN and BEN KRIECHEL, Maastricht University-- Downsizing the Hierarchical Workplace: Evidence on Job Structure and the Earnings Distribution

JULIA LANE, University of Chicago, FREDRIK ANDERSSON, Cornell University, and IBEN BOLVIG, University of Aarhus--Lost Jobs and Health Insurance: An Analysis of the Impact of Employment Volatility on Firm provided Health Insurance Coverage

ELENA PASTORINO, University of Iowa, and MELISSA TARTARI, Yale University--Training in Firms, Learning and Career Mobility: Evidence from Italian Personnel Data

THOMAS FUCHS, University of Munich--Climbing the Ladder: School Organization, Institutions and Efficient Educational Production

Jan. 5, 10:15 am

Volatility and Jumps

Presiding: TORBEN ANDERSEN, Northwestern University

GEORGE TAUCHEN, Duke University, and HAO ZHOU, Federal Reserve Board--Identifying Realized Jumps on Financial Markets

GEORGE J. JIANG, University of Arizona--A New Test for Jumps in Asset Prices

ROBERT F. ENGLE, MAGDALENA E. SOKALSKA, and ANANDA CHANDA, New York University--Forecasting Intraday Volatility in the US Equity Market. Multiplicative Component GARCH

TORBEN G. ANDERSEN, Northwestern University, and LUCA BENZONI, University of Minnesota--The Economic Determinants of Interest Rate Volatility in the U.S. Treasury Market

Jan. 5, 10:15 am

Institutional Dynamics

Presiding: AMRITA DHILLON, University of Warwick

ROGER LAGUNOFF, Georgetown University--Dynamic Stability and Reform of Political Institutions

HONGBIN CAI, Peking University, and FENG HONG, University of California-Los Angeles--A Theory of Organizational Dynamics: Internal Politics and Efficiency

STEPHANE AURAY, University of Lille 3, GREMARS and CIRPEE, THOMAS MARIOTTI, University of Toulouse 1, GREMAQ, IDEI and CEPR, and FABIEN MOIZEAU, University of Toulouse 1 and GREMAQ--Dynamic Regulation of Public Good Quality

AMRITA DHILLON, University of Warwick, and JAMELE RIGOLINI, World Bank--Uncertainty and the Quality of Institutions

Jan. 5, 10:15 am

ES

Dynamic Models in Industrial Organization

Presiding: XAVIER VIVES, INSEAD

XAVIER VIVES, INSEAD—Strategic Complementarity in Multi-Stage Games

JAMES D. DANA, JR. and YUK-FAI FONG, Northwestern University--Long-Lived Consumers, Intertemporal Bundling, and Tacit Collusion

CHAIM FERSHTMAN and SARIT MARKOVICH, Tel-Aviv University--Patents, Imitation and Licensing In an Asymmetric Dynamic R&D Race

BERNARD LEBRUN, York University--First-Price and Second-Price Auctions with Resale

Discussants: FEDERICO ECHENIQUE, California Institute of Technology

R. PRESTON MCAFEE, California Institute of Technology

JENNIFER REINGANUM, Vanderbilt University

ROD GARRATT, University of California-Santa Barbara

Jan. 5, 10:15 am

Inflation and Monetary Policy

Presiding: NOBUHIRO KIYOTAKI, Federal Reserve Bank of New York and London School of Economics

THOMAS SARGENT, New York University, NOAH WILLIAMS, Princeton University, and TAO ZHA, Federal Reserve Bank of Atlanta--Hyperinflations: Expectations, Escapes, and Regimes

JERZY D. KONIECZNY, Wilfrid Laurier University, and EMMANUEL DHYNE, National Bank of Belgium--Temporal Distribution of Price Changes: Staggering in the Large and Synchronization in the Small

MIKAEL CARLSSON, Swedish Central Bank, and ANDREAS WESTERMARK, Uppsala University--Optimal Discretionary Monetary Policy under Downward Nominal Wage Rigidity

GLENN D. RUDEBUSCH and JOHN C. WILLIAMS, Federal Reserve Bank of San Francisco--Revealing the Secrets of the Temple: The Value of Publishing Interest Rate Projections

Jan. 5, 10:15 am

ES

Retirement and Health

Presiding: JOHN RUST, University of Maryland

HUGO BENÍTEZ-SILVA, State University of New York-Stony Brook, SELCUK EREN, State University of New York-Stony Brook and Hamilton College, FRANK HEILAND, Florida State University, and SERGI JIMÉNEZ-MARTÍN, Universitat Pompeu Fabra--Wealth, Retirement Well-Being, and Realized and Unrealized Capital Gains

MARIACRISTINA DENARDI, Federal Reserve Bank of Chicago and University of Minnesota, ERIC FRENCH, Federal Reserve Bank of Chicago, and JOHN JONES, State University of New York-Albany-- Differential Mortality, Uncertain Medical Expenses, and the Savings of Elderly Singles

HUGO BENITEZ-SILVA, State University of New York-Stony Brook, J. IGNACIO GARCIA-PEREZ, Universidad Pablo de Olavide, and SERGI JIMENEZ-MARTIN, Universitat Pompeu Fabra--Cross Country Comparison of the Effects of Social Security and Employment Uncertainty on the Labor Supply and Search Behavior of Older Workers

DAVID A. LOVE, Williams College, and PAUL A. SMITH, Federal Reserve Board--Cracking Open the Nest Egg: Are Older Households Withdrawing Too Fast from Their DC Plans?

Jan. 5, 10:15 am

EPS

Out How: The Economics of Ending Wars (Roundtable Discussion)

Presiding: JAMES K. GALBRAITH, University of Texas-Austin and Economists for Peace and Security

THOMAS SCHELLING, University of Maryland

MICHAEL INTRILIGATOR, University of California-Los Angeles and Milken Institute

CLARK ABT, Abt Associates

COL. DOUGLAS MACGREGOR, Center for Defense Information, Straus Military Reform Project

LINDA BILMES, Harvard University

Jan. 5, 10;15 am

IAFFE

Economics and Gender: Theory and Practice (B5)

Presiding: ANN MARI MAY, Middlebury College

ANNE BOSCHINI, Stockholm University, and ANNA SJÖGREN, Research Institute of Industrial Economics--Is Team Formation Gender Neutral? Evidence from Coauthorship

CAROLE GREEN, University of South Florida, ROBIN BARTLETT, Denison University, and MARIANNE FERBER, University of Illinois-Urbana-Champaign--Policy Orientation and the Decision to Major in Economics

JULIE NELSON, Tufts University--Economics for Humans: Conscience, Care and Commerce?

MALIHA SAFRI, University of Massachusetts-Amherst--The Global Household: Remittances, Household Production and Migration

Discussants: ULLA GRAPARD, Colgate University

JUNE LAPIDUS, Roosevelt University

Jan. 5, 10:15 am

IEFS

International Trade and Globalization

Presiding: KAMAL SAGGI, Southern Methodist University

ERIC W. BOND, Vanderbilt University--Dynamics of Trade Agreements (Presidential Address)

ANDRÉS RODRIGUEZ-CLARE, Pennsylvania State University--Trade, Diffusion and the Benefits of Openness

JULIAN E. NAMINI, University of Duisberg-Essen, and RICARDO A. LOPEZ, Indiana University--Random versus Conscious Selection into Export Markets – Theory and Empirical Evidence

JOSHUA AIZENMAN, University of California-Santa Cruz, and YOTHIN JINJARAK, NTU Singapore--Globalization and Developing Countries – a Shrinking Tax Base?

Discussants: ANDRÉS RODRIGUEZ-CLARE, Pennsylvania State University

JOSH EDERINGTON, University of Kentucky

JIM TYBOUT, Pennsylvania State University

DEVASHISH MITRA, Syracuse University

Jan. 5, 10:15 am

INEM

Plural Agency and Plural Subjects within Economics

Presiding: MARK D. WHITE, College of Staten Island, City University of New York

JOHN B. DAVIS, Marquette University and University of Amsterdam—Conceptions of Plural Selves in Recent Behavioral and Experimental Economics

DON ROSS, University of Alabama-Birmingham and University of Cape Town—Institutionally Fostered Economic Agents versus Team Agents

HANS-BERNHARD SCHMID, University of St. Gallen—Plural Subjecthood, Rationality, and Methodological Individualism

MARK D. WHITE, College of Staten Island, City University of New York—Kantian Autonomy, Plural Agency, and Conceptions of the Economic Individual

Jan. 5, 10:15 am

LERA

The Dynamics of European National Employment Models: Implications for Conflict

and Cooperation in Employment Relations

Presiding: SAM ROSENBERG, Roosevelt University

GERHARD BOSCH, University of Duisberg-Essen--Changes in the System or Change of System? The National Employment Model of Germany

JILL RUBERY, University of Manchester--The UK National Employment System: A Model for Europe?

MARIA KARAMESSINI, Panteion University of Social and Political Sciences--Is There Still a Distinctive Southern European Model?

DOMINIQUE ANXO, University of Vaxjo--The Swedish Model in Turbulent Times: Decline or Renaissance?

Discussants: PETER BERG, Michigan State University

GREGOR MURRAY, University of Montreal

Jan. 5, 10:15 am

LERA

The Future of Industrial Relations and Labor Market Journals

Presiding: DANIEL J.B. MITCHELL, University of California--Los Angeles

TOVE HAMMER, Cornell University--Industrial and Labor Relations Review

TROND PETERSON, University of California-Berkeley--Industrial Relations: A Journal of Economy and Society

IMMANUEL NESS, Brooklyn College--WorkingUSA

MATTHEW W. FINKIN, University of Illinois-Urbana-Champaign--Comparative Labor Law & Policy Journal

DAVID LEWIN, University of California-Los Angeles--Advances in Industrial and Labor Relations

CHARLES J. WHALEN, Perspectives on Work

Jan. 5, 10:15 am

LERA

Socio-Technical Systems Theory and Practice: The Way to Workplace Democracy

and High Performance

Presiding: ROSEMARY BATT, Cornell University, and Nina Gregg, Communication Resources

PAMELA POSEY, Eyes on Performance--Socio-Technical Systems Theory and Practice: Origins, History, and Challenges

PETER JAY SORENSON, GINKO Enterprises--Socio-Technical Systems Theory and Practice: Origins, History, and Challenges

KEVIN BOYLE, Boyle and Associates--A Union-led STS Redesign: AFSCME and Oregon Health Sciences University Save Union Jobs and Make Money

Discussants: STEPHEN R. SLEIGH, The Yucaipa Companies

BRUCE HAMILTON, Socio-Technical Systems

JOEL CUTCHER-GERSHENFELD, University of Illinois-Urbana-Champaign

Jan. 5, 10:15 am

MEEA

Finance, Growth, and Convergence (O0)

Presiding: SALPIE DJOUNDOURIAN, Lebanese American University

HALUK ERLAT, Middle East Technical University--Time Series Approaches to Testing Income Convergence in MENA Countries

KIVILCIM METIN OZCAN, Bilkent University, Turkey, and YUSUF ZIYA OZCAN, Middle East Technical University, Turkey--Convergence in Measures of the Quality of Life: Evidence for EU Members and a Candidate Country, Turkey

IDA A. MIRZAIE, Ohio State University, and MAGDA KANDIL, International Monetary Fund--The Impact of Capital Inflow to Economic Performance

OYA PINAR ARDIÇ, Bogazici University, Turkey, and H. EVREN DAMAR, Pacific Lutheran University--Financial Sector and Economic Growth: Evidence from Turkey

MAHMOUD AL-IRIANI and FATIMA AL-SHAMSI, United Arab Emirates University--Foreign Direct Investment and Economic Growth in the GCC Countries: An Empirical Investigation Using Heterogeneous Panel Analysis

Discussants: HALA EL-RAMLY, American University in Cairo

ARNO BÄCKER , European Commission

BASSEM KAMAR, International Monetary Fund

HILMI NATHALIE, University of Nice, France"

A.YASEMIN YALTA, Fordham University

Jan. 5, 10:15 am

NEA

Economic Growth and Development I: East Africa (O1 )

Presiding: ASHAGRE YIGLETU, Southern University

ANDREW MUHAMMAD, Southern University--Market Power and the Pricing of Fish Imports from Uganda

TAMWISIGIRE CALEB, Makerere University, SUNG NO, ANDREW MUHAMMAD, Southern University, and MUGISHA FRED, National University of Rwanda--Determinants of FDI Inflow into Rwanda: 1971-2003

DONALD ANDREWS, Southern University, AUDREY KAHARA-KAWUKE, TAMWISIGIRE CALEB, Makerere University, and ASHAGRE YIGLETU, Southern University--Tourism and Economic Development in East Africa: The Case of Uganda

WARREN BYABASHAIJA and AUDREY KAHARA-KAWUKI, Makerere University--The Effect of Entrepreneurial Education, Social Norms and Situational Factors on Entrepreneurial Attitudes and Intentions of Post-graduate Students in Uganda

Discussants: KEITHLY G. JONES, USDA Economic Research Service

CHRISTOPHER DAVIS, USDA Economic Research Service

RALPH CHRISTY, Cornell University

RICHARD MCCLINE, San Francisco State University

Jan. 5, 10:15 am

NAEFA

Trade, Economic Integration, Labor Market Flexibility and Growth (F1)

Presiding: JAMES A. WILCOX, University of California-Berkeley

VIVEK H. DEHEJIA and YIAGADEESEN SAMY, Carleton University--Labor Standards and Economic Integration in the European Union: An Empirical Analysis

ANIL KUMAR, Federal Reserve Bank of Dallas--Impact of NAFTA on the National and Regional Labor Market in the U.S.: Evidence from Micro Data

KARLA MORGAN, Whitworth College--Trade and Economic Growth: The Role of Trade Policy Instability

Discussants: MEHDI HARIRIAN, Bloomsburg University

KWAN KIM, University of Notre Dame

JOSHUA J. LEWER, West Texas A&M University

Jan. 5, 10:15 am

SED

The Great Depression and Beyond: Lessons for Macroeconomics (E3)

Presiding: GIORGIO PRIMICERI, Northwestern University

HAROLD COLE, University of Pennsylvania, and LEE OHANIAN, University of California-Los Angeles--Who or What Started the Great Depression?

GAUTI EGGERTSSON, Federal Reserve Bank of New York--The New Deal as a Theory of the Optimal Second Best

LAWRENCE CHRISTIANO, Northwestern University--The Zero-Bound, Zero-Inflation Targeting, and Output Collapse

MICHAEL BORDO, Rutgers University, CHRISTOPHER ERCEG, ANDREW LEVIN, Federal Reserve Board, and RYAN MICHAELS, University of Michigan--Three Great American Disinflations

Jan. 5, 10:15 am

SPM

Economic Integration in the Americas

Presiding: DOUGLAS O. WALKER, Regent University

STANLEY J. LAWSON, St. John’s University—Caribbean Integration

DOMINICK SALVATORE, Fordham University—NAFTA after 10 Years

RAUL MONCARZ, Florida International University—Central American Integration

JOHN R. DOMINGUEZ and RICHARD MCGREGORY, JR., University of Wisconsin—Cuban Kapitalism: Ideology, the Embargo, and the Economic Consequences

Discussants: SARA GORDON, St. John’s University

FRED CAMPANO, Fordham University

PELEGRINO MANFRA, City University of New York

Jan. 5, 10:15 am

SGE

Approaches for Measuring the Cost of Health Care Services

Presiding: JACK TRIPLETT, Brookings Institution

ALLISON ROSEN, University of Michigan, and DAVID CUTLER, Harvard University--Trends in Disease Costs in the U.S.

ANA AIZCORBE and NICOLE NESTORIAK, U.S. Bureau of Economic Analysis--Tracking Changes in Health Care Costs Using Episode-Based Price Indexes: Issues and Estimates

ALAN WHITE and JAISON ABEL, Analysis Group--Use of Claims Data in Constructing Price Indexes for Medical Services

RALPH BRADLEY, U.S. Bureau of Labor Statistics--Can Health Claims Data Improve the Estimation of BLS’s Medical CPI?

Discussants: MERRILE SING, Agency for Healthcare Research and Quality

ANNE HALL, Federal Reserve Board

Jan. 5, 10:15 am

TPUG

Regulation of Public Utilities

Presiding: PAUL SOTKIEWICZ, University of Florida

DOUGLAS N. JONES, Ohio State University---Matching Regulatory Arrangements with Public Values in the Provision of Energy and Telecommunications

LEA-RACHEL D. KOSNIK, University of Missouri-St. Louis--The Changing Structure of the Hydroelectric Power Industry

TROY QUAST, Sam Houston State University--Are Elected Regulators More Political Than Appointed Regulators?

JAMES ALLEMAN, University of Colorado, and PAUL RAPPOPORT, Temple University--Optimal Pricing with Sunk Cost and Uncertainty

Discussants: To be announced.

Jan. 5, 10:15 am

URPE

Microfoundations of Radical Economics (B2)

Presiding: BARKLEY ROSSER, James Madison University

GILBERT L. SKILLMAN, Wesleyan University—Worker Bargaining Power and the Business Cycle: Wage Dynamics in an Economy with Matching and Sequential Bargaining

ROBERTO VENEZIANI, Queens Mary University, London—Microfoundations and Analytical Marxism

JONATHAN GOLDSTEIN, Bowdoin College—Marxian Microfoundations: Contribution or Detour?

PETER SKOTT, University of Massachusetts-Amherst—Power-Biased Technical Change and the Rise in Earnings Inequality

Discussants: AMITAVA KRISHNA DUTT, University of Notre Dame

BARKLEY ROSSER, James Madison University

Jan. 5, 10:15 am

URPE

Brazil under Lula: Where Is It Headed? (P1)

Presiding: AL CAMPBELL, University of Utah

LEDA PAULANI, University of Sao Paulo, Brazil—Brazil as a Platform of International Financial Valorisation: The Role of Lula’s Government

PAULO NAKATANI, University of Espirito Santo, Brazil—A Critical Assessment of the Economic Policies of the Lula’s Government

ROSA MARIA MARQUES, Pontifica Universidade Catolica de Sao Paulo, Brazil—Lula’s Government and Social Policies

RÉMY HERRERA, MAURICIO SABADINI, and FRANCISCO CINTRA, University of Paris Pántheon-Sorbonne, France—The Failures of Reformism: Lula’s Brazil (2003-2006), after Mitterand’s France (1981-1984)

Discussants: AL CAMPBELL, University of Utah

RÉMY HERRERA, University of Paris, France

Jan. 5, 12:30 pm

AEA/AFA

Joint Luncheon

Presiding: THOMAS SARGENT, New York University

BEN BERNANKE, Federal Reserve Board

Jan. 5, 2:30 pm

AEA

Remembering Milton Friedman

Presiding: THOMAS SARGENT, New York University

GARY BECKER, University of Chicago

ROBERT LUCAS, University of Chicago

THOMAS SARGENT, New York University

Jan. 5, 2:30 pm

AAEA

Rural Poverty Revisited: A New Look at Place and Policy (Q1)

Presiding: SUSAN OFFUTT, USDA-Economic Research Service

AMY GLASMEIER, Pennsylvania State University--Poverty Geography: The Historical Image of Poverty in America and Its Role in Shaping National Poverty Policy

MARK D. PARTRIDGE, University of Saskatchewan, and DAN S. RICKMAN, Oklahoma State University--Persistent Rural Poverty and Job Growth

BRUCE WEBER, Oregon State University, JOHN CROMARTIE, ROBERT GIBBS, and ASHOK MISHRA, USDA-Economic Research Service--Poverty Reduction Through Education: Can It Work in Persistently Poor Rural Areas?

Discussant: SHELDON DANZIGER, University of Michigan

Jan 5, 2:30 pm

AEA

Residential Mortgage Economics (G1)

Presiding: YONGHENG DENG, University of Southern California

JINGYANG LI and PAUL THURSTON, Countrywide Finance—Long-Range Dependence in Mortgage Termination

JAMES VICKERY, Federal Reserve Bank of New York—Interest Rates and Consumer Choice on the Residential Mortgage Market

YONGHENG DENG, University of Southern California, and JOHN M. QUIGLEY, University of California-Berkeley—Irrational Borrowers and the Pricing of Residential Mortgages

Discussants: CHRISTOPHER DOWNING, Rice University

ROBERT VAN ORDER, University of Michigan

WALTER N. TOROUS, University of California-Los Angeles

Jan. 5, 2:30 pm

AEA

Personnel Economics Studies using Personnel Data (M5)

Presiding: EDWARD LAZEAR, Stanford University

ALEX BRYSON and RICHARD FREEMAN, Harvard University and NBER—Doing the Right Thing? Does Fair Share Capitalism Improve Firm Performance: Evidence for the UK

ORIANA BANDIERA, London School of Economics, IWAN BARANKAY, University of Exeter, IMRAN RASUL, University College London—Incentives and Favoritism in the Workplace: Evidence from Personnel Data

FRANCINE LAFONTAINE and JAGADEESH SIVADASAN, University of Michigan—Labor Regulations and Establishment-Level Labor Productivity

JOHN HALTIWANGER, University of Maryland, PAUL OYER, and KATHRYN SHAW, Stanford University—Talent Sorting and Skill Complementarity among Software Engineers

Discussants: NICK BLOOM, Stanford University

SCOTT SCHAEFER, University of Utah

SCOTT STERN, Northwestern University

ORIANA BANDIERA, London School of Economics

Jan. 5, 2:30 pm

AEA

Behavioral Welfare Economics

Presiding: B. DOUGLAS BERNHEIM, Stanford University

B. DOUGLAS BERNHEIM, Stanford University—Title to be announced

FARUK GUL, and WOLFGANG PESENDORFER, Princeton University—Title to be announced

MATTHEW RABIN, University of California-Berkeley—Title to be announced

Discussants: DAVID LAIBSON, Harvard University

COLIN CAMERER, California Institute of Technology

Jan. 5, 2:30 pm

AEA

Developments in Dynamic Mechanism Design

Presiding: STEPHEN MORRIS, Princeton University

STEPHEN MORRIS, Princeton University, and DIRK BERGEMANN, Yale University—Ascending Auctions: Robustness and Uniqueness

ILYA SEGAL, Stanford University—Incentives and Communication Costs

PHILIPPE JEHIEL, University College London—On Timing Issues in Mechanism Design

Discussants: PRESTON MCAFEE, California Institute of Technology

ERIC MASKIN, Institute for Advanced Studies, Princeton

PAUL MILGROM, Stanford University

Jan. 5, 2:30 pm

AEA

Evaluation and Time Allocations in Teaching Economics

Presiding: BARRY R. CHISWICK, University of Illinois-Chicago

BRUCE WEINBERG, BELTON FLEISHER, and MASANORI HASHIMOTO, Ohio State University—Student Evaluation of Teaching Revisited

CYNTHIA HARTER, Eastern Kentucky University, MICHAEL WATTS, Purdue University, and WILLIAM BECKER, Indiana University—Time Allocations and Reward Structures for Academic Economists from 1995-2005: Evidence from Three National Surveys

SAM ALLGOOD and WILLIAM WALSTAD, University of Nebraska-Lincoln—Time Allocations to Undergraduate and Graduate Teaching in Economics and Other Disciplines

SAM ALLGOOD, University of Nebraska-Lincoln, WILLIAM BOSSHARDT, Florida Atlantic University, WILBERT VAN DER KLAAUW, University of North Carolina-Chapel Hill, and MICHAEL WATTS, Purdue University—The Long-Term Effects of Economics Coursework on College Graduates’ Behaviors and Outcomes in the Labor Market

Discussants: TISHA L.N. EMERSON, Baylor University

KIMMARIE MCGOLDRICK, University of Richmond

GLEN R. WADDELL, University of Oregon

BARRY R. CHISWICK, University of Illinois-Chicago

Jan. 5, 2:30 pm

AEA

Consumption Inequality: Evidence and Interpretation (D1)

Presiding: RICHARD BLUNDELL, University College London

ORAZIO ATTANASIO, University College London, ERICH BATTISTIN, Universita di Padova, and MARIO PADULA, Universita di Salerno—The Evolution of Consumption and Wage Inequality: Evidence and Implications for Consumption Smoothing

DIRK KRUEGER, Goethe University Frankfurt, and FABRIZIO PERRI, New York University—Understanding Diverging Trends in U.S. Earnings and Consumption Dispersion: Are the Unlucky Consuming a Lot, or Are the Lucky Consuming Little?

RICHARD BLUNDELL, IAN PRESTON, University College London, and LUIGI PISTAFERRI, Stanford University—The Transmission of Income Inequality into Consumption Inequality

JONATHAN HEATHCOTE, Georgetown University, KJETIL STORESLETTEN, University of Oslo, and GIOVANNI LUCA VIOLANTE, New York University—Labor Supply and Consumption with Imperfect Insurance: An Analytical Framework

Discussant: VICTOR RIOS-RULL, Pennsylvania State University

Jan. 5, 2:30 pm

AEA

Habit Persistence and the Macroeconomy (E3)

Presiding: MARTIN URIBE, Duke University

KAREN E. DYNAN, Federal Reserve Board, and ENRICHETTA RAVINA, New York University—Habit Persistence: Evidence from Complementary Data Sources

MORTEN RAVN, European University Institute, STEPHANIE SCHMITT-GROHE, and MARTIN URIBE, Duke University—Pricing to Habits and the Law of One Price

HARALD UHLIG, Humboldt Universitaet—Explaining Asset Prices with Habit Persistence and Wage Rigidities in a DSGE Model

Discussants: JORDI GALI, Universitat Pompeu Fabra and Massachusetts Institute of Technology

CHRIS CARROLL, Johns Hopkins University

FATIH GUVENEN, University of Texas-Austin

Jan. 5, 2:30 pm

AEA

Beliefs in the Utility Function (D1)

Presiding: ANDREW CAPLIN, New York University

MARKUS BRUNNERMEIER, JONATHAN PARKER, and FILIPPOS PAPAKONSTANTINOU, Princeton University—The Planning Fallacy and Deadlines

KFIR ELIAZ and ANDREW SCHOTTER, New York University—Paying for Confidence: An Experimental Study of Preferences Over Beliefs

PIERPAOLO BATTIGALLI, Bocconi University, and MARTIN DUFWENBERG, University of Arizona—Dynamic Psychological Games

Jan. 5, 2:30 pm

AEA

Empirical Industrial Organization (L2, D8, C1)

Presiding: PATRICK BAJARI, University of Minnesota

QUANG VUONG and ISABELLE PERRIGNE, Pennsylvania State University—Auctions with Risk Averse Bidders: A Semiparametric Analysis

VICTOR AGUIRREGABIRIA, Boston University—Estimating Dynamic Games

JAMES CHAPMAN, University of Iowa, DAVID MCADAMS, Massachusetts Institute of Technology, and HARRY J. PAARSCH, University of Iowa—Multi-Unit, Sealed-Bid, Discriminatory-Price Auctions

PATRICK BAJARI, University of Minnesota, JEREMY FOX, University of Chicago, and STEPHEN RYAN, Massachusetts Institute of Technology—Differentiated Product Demand Estimation with Rank Data

Jan. 5, 2:30 pm

AEA

The Health of the Young and the Old in the Past and the Present (I1)

Presiding: ROBERT FOGEL, University of Chicago

DORA COSTA, Massachusetts Institute of Technology, LORENS HELMCHEN, University of Illinois-Chicago, and SVEN WILSON, Brigham Young University—Race and Older Age Health in the Twentieth Century

FRANK SLOAN, Duke University—Survival and the Changing Role of Chronic Diseases in the Twentieth Century

WILLIAM EVANS and HENG WEI, University of Maryland—Postpartum Hospital Stay and the Outcomes of Mothers and Their Newborns

Discussants: JANET CURRIE, Columbia University

TOMAS PHILIPSON, University of Chicago

DAVID MELTZER, University of Chicago

Jan. 5, 2:30 pm

AEA

Getting Ahead: The Determinants of Professional Success

Presiding: RACHEL CROSON, University of Pennsylvania

KRISTIN J. KLEINJANS, University of Aarhus and RAND—The Role of Career Aspirations in Education Choice: Can Gender Differences Explain the Lower Intergenerational Correlations in Education for Girls?

DEBORAH GARVEY, Santa Clara University, MARK HUGO LÓPEZ, University of Maryland, and MARIE MORA, University of Texas-Pan American—The Earnings of Female Faculty: A Story of Field and Gender?

BRUCE SACERDOTE, Dartmouth College, ALAN DURELL, and HEIDI WILLIAMS, Harvard University—Does Same Gender Mentoring Help?

CHRISTINA HILMER and MICHAEL HILMER, San Diego State University—Women Helping Women, Men Helping Men? Same-Gender Mentoring, Initial Job Placements, and Early Career Research Productivity for Economics Ph.D.s

Discussants: JOSEPH ALTONJI, Yale University

CHARLES C. BROWN, University of Michigan

DONNA GINTHER, University of Kansas

SHULAMIT KAHN, Boston University

Jan. 5, 2:30 pm

AEA

Information Frictions and Aggregate Fluctuations (E3)

Presiding: CHRIS EDMOND, New York University

CHRISTIAN HELLWIG, University of California-Los Angeles, and LAURA VELDKAMP, New York University—Knowing What Others Know: Coordination Motives in Information Acquisition

CHRIS EDMOND and LAURA VELDKAMP, New York University—Income Dispersion, Market Efficiency and Business Cycles

VERONICA GUERRIERI and GUIDO LORENZONI, Massachusetts Institute of Technology—Financial Development and the Aggregate Effect of News

MANUEL AMADOR, Stanford University, and PIERRE-OLIVIER WEILL, New York University—Learning by Matching

Discussants: WILLIAM FUCHS, University of Chicago

JEFFREY CAMPBELL, Federal Reserve Bank of Chicago

RANDALL WRIGHT, University of Pennsylvania

LONES SMITH, University of Michigan

Jan. 5, 2:30 pm

AEA

Emerging Markets Finance in the Global Economy (F3)

Presiding: SIMON JOHNSON, Massachusetts Institute of Technology

FERNANDO BRONER, ALBERTO MARTIN, and JAUME VENTURA, Universitat Pompeu Fabra—Secondary Markets and Sovereign Risk

LAURA ALFARO and ELIZA HAMMEL, Harvard University—Capital Flows and Capital Goods

ANDRE FARIA and PAOLO MAURO, International Monetary Fund—The External Financing of Economic Development: Evidence from Two Waves of Financial Globalization

Discussants: PIERRE-OLIVIER GOURINCHAS, University of California-Berkeley

PETER BLAIR HENRY, Stanford University

SIMON JOHNSON, Massachusetts Institute of Technology

Jan. 5, 2:30 pm

AEA

The Political Economy of Institutional Change (P4)

Presiding: SANJAY JAIN, University of Virginia

BENJAMIN JONES, Northwestern University, and BENJAMIN OLKEN, Harvard University—Changing Regimes: The Effect of Political Change on Institutions and Economic Performance

EDWARD MIGUEL and GERARD ROLAND, University of California-Berkeley—The Long Run Impact of Bombing in Vietnam

SUMON MAJUMDAR, Queens University, and SHARUN MUKAND, Tufts University—Bridging the Divide: On Leadership and Institutional Change

Discussants: ROMAIN WACZIARG, Stanford University

ENRICO SPOLAORE, Tufts University

ALLAN DRAZEN, University of Maryland

Jan. 5, 2:30 pm

AEA

Networked Interactions (C7)

Presiding: LUIS RAYO, University of Chicago

ANTONI CALVO-ARMENGOL, Universitat Autonoma de Barcelona—On the Network Structure of Communication in Organizations

MATTHEW O. JACKSON and LEEAT YARIV, California Institute of Technology—The Spread of Behaviors and Technologies through Social Networks

DOUGLAS GALE, New York University, and SHACHAR KARIV, University of California-Berkeley—Financial Networks

Discussants: GARANCE GENICOT, Georgetown University

TANYA S. ROSENBLAT, Wesleyan University

ERIC FISHER, Ohio State University

Jan. 5, 2:30 pm

AEA

The Economics of National Security (H5)

Presiding: MARTIN FELDSTEIN, Harvard University

ALAN KRUEGER, Princeton University—Economic Incentives and Foreign Insurgents in Iraq

ROZLYN ENGEL, U.S. Military Academy—The Effect of Casualties on Lifetime Earnings

STEFANO DELLAVIGNA and ETHAN KAPLAN, University of California-Berkeley—The Economic and Ideological Determinants of Military Recruiting

PHILIP MARTIN, THIERRY MAYER, University of Paris, and MATHIAS THOENIG, University of Geneva—The Effects of Multilateralism and Regionalism on Military Conflicts

JOHN B. TAYLOR, Stanford University—The Financial Front in the War on Terror

Jan 5, 2:30 pm

AEA

Social Insurance Programs: Good for Workers? Good for the Labor Market? (J6)

Presiding: RAJ CHETTY, University of California-Berkeley and NBER

DAN BLACK, JOSE GALDO, Syracuse University, and JEFF SMITH, University of Michigan—Evaluating the Regression Discontinuity Design Using Experimental Data

RAFAEL LALIVE, University of Zurich—The Effects of Extended Benefits on Unemployment Duration and Early Retirement: A Regression Discontinuity Approach

DAVID CARD, RAJ CHETTY, University of California-Berkeley, and ANDREA WEBER, Institute for Advanced Studies, Vienna—Unemployment Benefits, Income Effects, and Search Outcomes: Evidence from a Discontinuity in the Austrian Severance Pay System

DAVID AUTOR, Massachusetts Institute of Technology, and MARK DUGGAN, University of Michigan—The Pure Income Effect of Disability Cash Transfers: Evidence from the Veteran Administration’s Disability Compensation Program

Discussants: CHRIS BOLLINGER, University of Kentucky

THOMAS LEMIEUX, University of British Columbia

AMY FINKELSTEIN, Massachusetts Institute of Technology

OLIVIER DESCHENES, University of California-Santa Barbara

Jan. 5, 2:30 pm

AEA

The Economics of “Self-Discovery”: Export Specialization, Productivity and Growth (O1)

Presiding: DANI RODRIK, Harvard University

JASON HWANG, RICARDO HAUSMANN, and DANI RODRIK, Harvard University—What You Export Matters

RICARDO HAUSMANN and BAILEY KLINGER, Harvard University—Monkeying Around: On the Determinants of Structural Transformation of Exports

RICARDO HAUSMANN and DANI RODRIK, Harvard University—Good Politics, Good Policies, Low Growth: The Puzzle of South Africa

Discussants: JAMES TYBOUT, Pennsylvania State University

MARC MELITZ, Harvard University

ANDRES RODRIGUEZ-CLARE, Pennsylvania State University

Jan. 5, 2:30 pm

AEA/CEANA

Financial Econometrics

Presiding: DONALD LIEN, University of Texas-San Antonio

TORBEN ANDERSON, Northwestern University, TIM BOLLERSLEV, and XING HUANG, Duke University—A Semiparametric Framework for Modeling and Forecasting Jumps and Volatility in Speculative Prices

JIN-CHUAN DUAN and ANDRAS FULOP, University of Toronto—Estimating the Structural Credit Risk Model When Equity Prices are Contaminated by Trading Noises

JUSHAN BAI, New York University, CHIHWA KAO, Syracuse University, and SERENA NG, University of Michigan—Panel Cointegration with Global Stochastic Trends

RAY CHOU, Institute of Economics, Academia Sinica—Forecasting Financial Volatilities with a Nonlinear Range-Based Volatility Model

Discussants: ALESSANDRO PALANDRI, Duke University

YONG BAO, University of Texas-San Antonio

JOHN CHAO, University of Maryland

KYOO-IL KIM, Singapore Management University

Jan. 5, 2:30 pm

AEA/ODE

ODE Invited Graduate Student Papers

Presiding: ROBERT S RYCROFT, University of Mary Washington

TIMOTHY F. PAGE, University of New Hampshire--Labor Supply Responses to Government Provided Health Insurance: Evidence from Kidney Transplant Patients

LUISA BLANCO RAYNAL, University of Oklahoma--Is Financial Development Really Beneficial for Latin American Countries?

JUAN CARLOS SUAREZ, University of California-Berkeley, and ZENIDE AVALLANEDA, Federal Reserve Board—Juanita’s Money Order: Income Effects on Human Capital Investment in Mexico

HENING LIU, Northern Illinois University--Labor Supply, Self-insurance and Knightian Uncertainty

Discussants: HENING LIU, Northern Illinois University

JUAN CARLOS SUAREZ, University of California-Berkeley

LUISA BLANCO RAYNAL, University of Oklahoma

TIMOTHY F. PAGE, University of New Hampshire

Jan. 5, 2:30 pm

AEA/TPUG

Spatial Modeling, Discrete Choices and the Costs and Benefits of Transportation

Network Improvements

Presiding: KEITH HOFSETH, U.S. Army Corps of Engineers

KENNETH TRAIN, University of California-Berkeley, and WESLEY WILSON, University of Oregon—Transportation Demand Modeling: Econometric Analysis of RP and SP-off-RP Data

SIMON ANDERSON, University of Virginia—Spatial Modeling of Shipper Choices, Railroad Pricing, Congestion and Equilibrium

BRUCE BLONIGEN, University of Oregon—International Trade and Transportation Networks

JOSEPH COOK, National Economic Research Associates, and CHARLES PLOTT, California Institute of Technology—Congestion at Locks on Inland Waterways: An Experimental Testbed of a Policy of Tradable Priority

Discussants: TAE OUM, University of British Columbia

KENNETH BOYER, Michigan State University

DAVID HUMMELS, Purdue University

Jan. 5, 2:30 pm

AFA

Behavior of Institutions and Other Investors

Presiding: HARRISON HONG, Princeton University

TAO SHU, University of Texas-Austin—Does Positive-Feedback Trading by Institutions Contribute to Stock Return Momentum?

RASHA ASHRAF and NARAYANAN JAYARAMAN, Georgia Institute of Technology—Institutional Investors’ Trading Behavior in Mergers and Acquisitions

MALCOLM P. BAKER, Harvard Business School, STEFAN NAGEL, Stanford University, and JEFFREY WURGLER, New York University—The Effect of Dividends on Consumption

Discussants: NATALIA PIQUEIRA, University of Houston

KAI LI, University of British Columbia

NICHOLAS SOULELES, University of Pennsylvania

Jan. 5, 2:30 pm

AFA

Corporate Bankruptcy and Loan Ratings

Presiding: KARIN THORBURN, Dartmouth College

TOM CHANG and ANTOINETTE SCHOAR, Massachusetts Institute of Technology—Judge Specific Differences in Chapter 11 and Firm Outcomes

FEDERICO CILIBERTO and CAROLA SCHENONE, University of Virginia—Financial Decisions, Bankruptcy, and Product-Market Competition in the Airline Industry

AMIR SUFI, University of Chicago—The Real Effects of Debt Certification: Evidence from the Introduction of Bank Loan Ratings

Discussants: EDITH HOTCHKISS, Boston College

SHERI TICE, Tulane University

MICHAEL ROBERTS, University of Pennsylvania

Jan. 5, 2:30 pm

AFA

Directors, Shareholders, and Other Monitors

Presiding: ANDREW METRICK, University of Pennsylvania

STUART GILLAN, Arizona State University, JAY C. HARTZELL, and LAURA T. STARKS, University of Texas-Austin—Evidence on Corporate Governance: The Joint Determination of Board Structures and Charter Provisions

STEVEN N. KAPLAN, University of Chicago, and BERNADETTE A. MINTON, Ohio State University—How Has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs

I.J. ALEXANDER DYCK, University of Toronto, ADAIR MORSE, University of Michigan-Ann Arbor, and LUIGI ZINGALES, University of Chicago—Who Blows the Whistle on Corporate Fraud?

HENRIK CRONQVIST and RUDIGER FAHLENBRACH, Ohio State University—Large Shareholders and Corporate Policies

Discussants: KOSE JOHN, New York University

BRIAN HALL, Harvard University

SHIVARAM RAJGOPAL, University of Washington

CLIFFORD HOLDERNESS, Boston College

Jan. 5, 2:30 pm

AFA

Theoretical Corporate

Presiding: DENIS GROMB, London Business School

ANDREA L. EISFELDT and ADRIANO A. RAMPINI, Northwestern University—Leasing, Ability to Repossess, and Debt Capacity

THIERRY FOUCAULT, HEC Paris, and THOMAS GEHRIG, University of Freiburg, Germany—Stock Price Informativeness, Cross-Listings and Investment Decisions

MURRAY CARLSON, University of British Columbia, ENGELBERT J. DOCKNER, University of Vienna, ADLAI J. FISHER, and RON GIAMMARINO, University of British Columbia—Leaders, Followers, and Risk Dynamics in Industry Equilibrium

Discussants: KENNETH AYOTTE, Columbia University

ITAY GOLDSTEIN, Duke University and University of Pennsylvania

ANTONIO MELLO, University of Wisconsin-Madison

Jan. 5, 2:30 pm

AFA

Hedge Funds: Performance and Persistence

Presiding: CLIFF ASNESS, AQR Capital Management, LLC

WILLIAM FUNG, London Business School, DAVID A. HSIEH, Duke University, NARAYAN Y. NAIK, London Business School, and TARUN RAMADORAI, University of Oxford—Hedge Funds: Performance, Risk and Capital Formation

ANDREW ANG, MATTHEW RHODES-KROPF, and RUI ZHAO, Columbia University—Do Funds-of-Funds Deserve Their Fees-on-Fees?

RAVI JAGANNATHAN, Northwestern University, ALEXEY MALAKHOV, University of North Carolina-Chapel Hill, and DIMITRY NOVIKOV, Goldman Sachs Group, Inc.—Do Hot Hands Persist Among Hedge Fund Managers? An Empirical Evaluation

GUILLERMO BAQUERO and MARNO VERBEEK, Erasmus University Rotterdam—Do Sophisticated Investors Believe in the Law of Small Numbers?

Discussants: TUOMO VUOLTEENAHO, Harvard University and Arrowstreet Capital, LP

PETER MULLER, Morgan Stanley

RANDOLPH COHEN, Harvard Business School

ANTHONY LYNCH, New York University

Jan. 5, 2:30 pm

AREUEA

Commercial Real Estate

Presiding: JEFFREY D. FISHER, Indiana University

DOINA CHICHERNEA, NORM MILLER, University of Cincinnati, JEFF FISHER, Indiana University, and MICHAEL SKLARZ, Fidelity National Information Solutions--A Cross Sectional Analysis of Cap Rates by MSA

DEAN GATZLAFF and CYNTHIA HOLMES, Florida State University---Estimating Transaction-Based Price Indices for Local Commercial Real Estate: An Examination of Alternative Methodologies using Property Tax Data

ANTHONY YEZER and CHAO YUE TIAN, George Washington University--Office Rents and the Monocentric City

YONGPING LIANG, University of Wisconsin, and KERRY VANDELL, University of California-Irvine--The Anatomy of Vacancy Behavior: Implications for the Rental Adjustment Process

Discussants: JIM CLAYTON, Pension Real Estate Association
WAYNE ARCHER, University of Florida
LYNN FISHER, Massachusetts Institute of Technology
THOMAS THIBODEAU, University of Colorado

Jan. 5, 2:30 pm

AREUEA

Mortgage Choice

Presiding: FRANK E. NOTHAFT, Freddie Mac

MARSHA J COURCHANE, ERS Group, PETER M. ZORN, Freddie Mac--Comparisons of Prime and Subprime Mortgages

SHANE M. SHERLUND, ANDREAS LEHNERT, WAYNE PASSMORE, and GILLIAN BURGESS, Federal Reserve Board--Financial Innovation and Household Mortgage Choice

MICHAEL LACOUR-LITTLE, California State University-Fullerton--The Home Purchase Mortgage Preferences of Low-and-Moderate Income Households

YAN CHANG, Freddie Mac--The Product Switch in Refis: Who, When and Why

Discussants: CHRIS RICHARDSON, GMAC Residential
JAN BRUECKNER, University of California-Irvine
JAMES FOLLAIN, Fidelity Hansen
ANDREA HEUSON, University of Miami

Jan. 5, 2:30 pm

ACES

The Decline of Soviet Growth: The Impact of Non-systemic Factors (P2)

Presiding: PAUL GREGORY, University of Houston

MARK HARRISON, University of Warwick, UK--The Soviet Economy: War, Growth, and Dictatorship

GUR OFER, Hebrew University of Jerusalem--Looking Back at the Burden of Defense and Military R&D

MARTIN SPECHLER and DINA SPECHLER, Indiana University--The Burden of Empire on the Soviet Union: New Calculations

CLIFF GADDY, Brookings Institution, and BARRY ICKES, Pennsylvania State University--Addiction and Withdrawal: Resource Rents and the Collapse of the Soviet Economy

Discussants: PAUL GREGORY, University of Houston

VLADIMIR KONTOROVICH, Haverford College

Jan. 5, 2:30 pm

AEDSB

Economic Development Issues of Bangladesh

Presiding: M. KABIR HASSAN, University of New Orleans

SHAH SAEED HASSAN CHOWDHURY, Middle Tennessee State University, M. KABIR HASSAN, University of New Orleans and HUMAYOUN KABIR, University of Rajshahi-- Is There Any Overreaction in the Dhaka Stock Exchange (DSE)

MATIUR RAHMAN, McNeese State University, and MUHAMMAD MUSTAFA, South Carolina State University--Trade and International Migration: Evidence from Bangladesh

TANWEER AKRAM, Moody's Economy.com--The Bangladesh Genocide of 1971

NOOR M. KAMRUL ISLAM, Bloomsburg University--Rising Corruption Within Bangladesh Society: A Threat to Its Fragile Democracy, Social Order, and Economic Progress

A.B.M. NASIR, North Carolina State University—Wage Differential, Resource Misallocation and Governance Failure: An Economic Analysis of Bangladesh

Discussants: M. KABIR HASSAN, University of New Orleans

MATIUR RAHMAN, McNeese State University

MUHAMMAD MUSTAFA, South Carolina State University

TANWEER AKRAM, Moody's Economy.com

M. FAIZUL ISLAM, Southeastern University

A.B.M. NASIR, North Carolina State University

Jan. 5, 2:30 pm

AFEE

Efficiency, Social Efficiency and Financial Exclusion in Institutionalist Theory (E1)

Presiding: SCOTT FULLWILER, Wartburg College

TOKUTARO SHIBATA, University of Tokyo--On the Concept of Efficiency in Institutional Economics

RYUICHIRO TERAKAWA, University of Tokyo--An Aspect of the Philosophical Foundations of

Commons’ Institutional Economics

GARY DYMSKI, University of California-Riverside and University of California Center-

Sacramento--The Global Transformation of Core-Banking Markets: A Polanyi/Commons View

KAZUO MARAKOSHI, University of California-Riverside--Justice in Finance: A Methodological

Examination of Financial Exclusion and Social Efficiency

PHILIP ARESTIS, University of Cambridge, UK and ASENA CANER, TOBB-Economics and

Technology University, Turkey--The Channels through which Financial Liberalization

Influences Poverty

Discussant: YNGVE RAMSTAD, University of Rhode Island

Jan. 5, 2:30 pm

AFEE

Local Institutions in the Globalizing Economy (R5)

Presiding: ROBERT SCOTT III, Monmouth University

OLIVIER BRETTE and YVES CHAPPOZ, Université Jean Moulin Lyon 3, France--The French

Competitiveness Clusters: Toward a New Public Policy for Innovation and Research?

SUE KONZELMANN, Birkbeck College, University of London--The Global Reproduction of National Capitalisms: The Cases of Wal-Mart and IKEA

JULIE H. GALLAWAY, University of Missouri, Rolla--Point-of-Use Water Filtration: An Institutional Approach to Economic Development Public Policy

JOHN WATKINS, Westminster College--Economic Institutions under Disaster Situations: The Case

of Hurricane Katrina

MATTHEW C. WILSON, University of Denver--The Institution of State and Local Public Budgeting

Rules: A Veblenian Critique of Tax and Expenditure Limitations

Discussant: RICHARD V. ADKISSON, New Mexico State University

Jan. 5, 2:30 pm

ASE

Persons, Social Capital, and Sustainability

Presiding: EDWARD O'BOYLE, Louisiana Tech University

ALBINO BARRERA, Providence College--Economic and Social Sustainability in the Information Age: Need Satisfaction and Relative Equality as Necessary Conditions

MARK D. WHITE, College of Staten Island/CUNY--Kantian Autonomy: Reconciling Individualism with Social Sustainability

MICHAEL R. STONE and ANNE P. COBB, Empire State College--A Quiet Revolution: Teachings and Actions on How to Humanize Economics

JOHN F. TOMER, Manhattan College--Intangible Capital and Economic Growth: A Comprehensive and Unifying View

Discussants: DAVID GEORGE, LaSalle University

EDWARD O'BOYLE, Louisiana Tech University

Jan. 5, 2:30 pm

AERE

Taxes, Subsidies, and Controlling Pollution Emissions (Q5)

Presiding: NICHOLAS E. FLORES, University of Colorado-Boulder

MAGI DELMAS, University of California-Santa Barbara, MARIA MONTES, Universitat Pompeu Fabra, and JAY SHIMSHACK, Tufts University—Mandatory Information Disclosure and Environmental Performance in the Electricity Industry

DONNA RAMIREZ HARRINGTON, University of Guelph, GEORGE DELTAS, and MADHU KHANNA, University of Illinois-Urbana-Champaign--Environmental Subsidies and Social Welfare in a Horizontally Differentiated Market

CAROLYN FISCHER and ALAN FOX, Resources for the Future--Should Emissions Permit Revenues Lower Taxes or Subsidize Output? The Role of Leakage

CHARLES F. MASON, University of Wyoming, STEPHEN POLASKY, University of Minnesota, and NORI TARUI, Columbia University--Cooperation on Climate-Change Mitigation

Discussants: JARED CARBONE, Williams College

STEPHEN SALANT, University of Michigan

DALLAS BURTRAW, Resources for the Future

JASON F. SHOGREN, University of Wyoming

Jan. 5, 2:30 pm

AFE

Microstructure of Hidden Orders

Presiding: INGRID WERNER, Ohio State University

LAURA TUTTLE, University of Kansas--Hidden Orders, Trading Costs and Information.

BURKART MONCH, Goethe University, and ANGELIKA ESSER, DekaBank--The Navigation of an Iceberg: The Optimal Use of Hidden Orders

KUMAR VENKATARAMAN, Southern Methodist University, HANK BESSEMBINDER, University of Utah, and MARIOS PANAYIDES, Yale University--In Search of Liquidity: An Analysis of Order Exposure Strategies in Automated Markets

Discussants: CHRISTINE PARLOUR, University of California-Berkeley.

JEFF HARRIS, University of Delaware

AVANIDHAR SUBRAHMANYAM, University of California-Los Angeles.

Jan. 5, 2:30 pm

AIES

Social Choices and Economic Decision Making (O1, D7, Q2)

Presiding: KUSUM KETKAR, Yeshiva University

AMITRAJEET BATABYAL, Rochester Institute of Technology—Mediator Learning and Dowry Determination in an Arranged Marriage Setting

AMITABH LAHIRY, Madhya Pradesh Education—Reservations and Social Justice

JYOTHI KHANNA and MICHAEL JOHNSTON, Colgate University—Bringing in the Middle Men, Corruption, Tradition and Growth in India

ROBY RAJAN, University of Wisconsin—Incentive Compatibility and Governance

CHAITRAM TALELE, Columbia State University—Supply and Demand for Water

SURESH DESAI, Montclair State University—Innovation in Gandhian Economics

SANDWIP DAS, University of California, and MONICA DAS, Skidmore College—Economic Growth an Equitable Distribution

LUIS SAN VICENTE PORTES, Montclair State University—Trade and Income Distribution

Discussants: APARAJITA NANDI, Queens College, City University of New York

KANKANA MUKHERJEE, Worcester Polytechnic Institute

SANDWIP DAS, University of California

SYED HYAT, Siena College

Jan. 5, 2:30 pm

Economic History of Labor: New Directions

Presiding: ROBERT MARGO, Boston University and NBER

RAYMOND L. COHN, Illinois State University—The Volume and Composition of European Immigration to the Antebellum United States: An Analysis of the Passenger Lists

JOSEPH FERRIE, Northwestern University, and WERNER TROESKEN, University of Pittsburgh—The Past as Prologue: The Effects of Early Life Circumstances at the Community and Household Levels on Mid-Life and Late-Life Outcomes

NATHAN GRAWE and JENNY WAHL, Carleton College—Blacks, Whites, and Brown: Effects on the Earnings of Men and Their Sons

ANDREW SELTZER—Female Clerical Salaries and the Impact of the Feminization of Clerical Labor Markets on Male Employees: Evidence from English Banking

Discussants: MARIANNE HINDS WANAMAKER, Northwestern University

LOU CAIN, Northwestern University

JACOB VIGDOR, Duke University

ELYCE ROTELLA, Indiana University

Jan. 5, 2:30 pm

The Development and Labor Market Significance of Noncognitive Skills

Presiding: JAMES J. HECKMAN, University of Chicago

CARMIT SEGAL, Harvard University--Misbehavior, Education and Labor Market Outcomes

LEX BORGHANS, BAS TER WEEL, Maastricht University, and JAMES J. HECKMAN, University of Chicago--The Economics of Noncognitive Skills

FLAVIO CUNHA, JAMES J. HECKMAN, and SUSANNE SCHENNACH, University of Chicago--Estimating the Elasticity of Substitution Between Early and Late Investments in the Technology of Cognitive and Noncognitive Skill Formation

SERGIO URZUA, University of Chicago--The Role of Abilities and Schooling Choices in Explaining Racial Labor Market Gaps

Jan. 5, 2:30 pm

International Fluctuations: Cycles and Crises

Presiding: DOIREANN FITZGERALD, University of California-Santa Cruz

DOIREANN FITZGERALD, University of California-Santa Cruz--Trade Costs, Asset Market Frictions and Risk Sharing: A Joint Test

MARIO J. CRUCINI, Vanderbilt University, M. AYHAN KOSE, International Monetary Fund,
and CHRISTOPHER OTROK, University of Virginia--What Are the Driving Forces of International Business Cycles?

ENRIQUE G. MENDOZA, University of Maryland, NBER, and International Monetary Fund, and P. MARCELO OVIEDO, Iowa State University--Fiscal Policy and Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer

BETTY C. DANIEL, State University of New York-Albany--Averting a Fiscal Financial Crisis within the EMU

Discussants: MIKLOS KOREN, Federal Reserve Bank of New York

VIVIAN ZHANWEI YUE, New York University

YAN BAI, Arizona State University

ESPEN R. HENRIKSEN, University of Oslo

Jan. 5, 2:30 pm

Productivity and the Firm

Presiding: THOMAS HOLMES, University of Minnesota

ALI HORTACSU and CHAD SYVERSON, University of Chicago and NBER--Why Is Scale So Important in Vertical Integration?

DANIEL ACKERBERG, University of California-Los Angeles, KEVIN CAVES, Deloitte and Touche, and GARTH FRAZER, University of Toronto--Structural Identification of Production Functions

DENNIS EPPLE, BRETT GORDON, and HOLGER SIEG, Carnegie Mellon University--A Flexible Approach to Estimating Production Functions When Output Prices are Unobserved

SUNGJIN CHO, Hanyang University, and JOHN RUST, University of Maryland--Do Firms Maximize Profits? Suboptimal Replacement Decisions by a Profitable Car Rental Company

Discussants: THOMAS HOLMES, University of Minnesota

AMIL PETRIN, University of Chicago

MARK J. ROBERTS, Pennsylvania State University

ADAM COPELAND, Bureau of Economic Analysis

Jan. 5, 2:30 pm

Information Transmission in Organizations

Presiding: AMIL DASGUPTA, London School of Economics and CEPR

NAVIN KARTIK, University of California-San Diego, MARCO OTTAVIANI, London Business School, and FRANCESCO SQUINTANI, University College London--Credulity, Lies, and Costly Talk

JOHN VAN REENEN, London School of Economics, DARON ACEMOGLU, Massachusetts Institute of Technology, PHILIPPE AGHION, Harvard University, FABRIZIO ZILIBOTTI, Stockholm University, and Claire LeLarge, INSEE--Technology, Information and the Decentralization of the Firm

DANIEL FERREIRA, Universidade Nova de Lisboa, and RAAJ SAH, University of Chicago--Who Gets to the Top: Generalists versus Specialists in Organizations

AMIL DASGUPTA and ANDREA PRAT, London School of Economics and CEPR--Asset Price Dynamics When Traders Care About Reputation

Jan. 5, 2:30 pm

Issues in Multiple Agent Economies

Presiding: XAVIER MATEOS-PLANAS, University of Southampton

XAVIER MATEOS-PLANAS, University of Southampton--Tighter Bankruptcy Rules with Endogenous Credit Limits

DANNY LEUNG, CESAIRE MEH, and YAZ TERAJIMA, Bank of Canada--Firm Life-Cycle Dynamics and Productivity

CARLOS GARRIGA and DON SCHLAGENHAUF, Florida State University--A Theory of Marriage and Divorce

GUSTAVO VENTURA, Pennsylvania State University, and NEZIH GUNER, Universidad Carlos III, and REMZI KAYGUSUZ, Pennsylvania State University--Taxation, Aggregates and the Household

Discussants: YAZ TERAJIMA, Bank of Canada

IRINA A TELYUKOVA, University of Pennsylvania

GUSTAVO VENTURA, Pennsylvania State University

CARLOS GARRIGA, Florida State University

Jan. 5, 2:30 pm

Technology and Business Cycles

Presiding: R. ANTON BRAUN, University of Tokyo

THOMAS LAUBACH, Federal Reserve Board, and JOHN C. WILLIAMS, Federal Reserve Bank of San Francisco—The Response of Hours to Technology Shocks: Much Ado About Nothing?

DALE HENDERSON, JINILL KIM, and LUCA GUERRIERI, Federal Reserve Board—What Happens When MFP Grows Faster in the IT Sector?

YULEI LUO, University of Hong Kong, and ERIC YOUNG, University of Virginia—Rational Inattention and Aggregate Fluctuations

R. ANTON BRAUN, University of Tokyo, TOSHIHIRO OKADA, Kwansei Gakuin University, and
NAO SUDOU, Bank of Japan and Boston University—U.S. R&D and Japanese Medium Term Cycles

Discussants: AGOSTINO CONSOLO, Bocconi University

FRANCESCO COLUMBA, Bank of Italy

MATTHIAS PAUSTIAN, Bowling Green State University

WILLIAM VAN ZANDWEGHE, Carnegie Mellon University

Jan. 5, 2:30 pm

HERO

Health and Aging: Baby Boomers Becoming Senior Citizens

Presiding: MICHAEL GROSSMAN, City University of New York and NBER

ROBERT KAESTNER, University of Illinois-Chicago and NBER—Medicare and Health Behaviors

DHAVAL DAVE, Bentley College and NBER, INAS RASHAD, George State University and NBER, and JASMINA SPASOJEVIC, Metropolitan College—The Effects of Retirement on Physical and Mental Health Outcomes

DANIEL POLSKY, JALPA DOSHI, University of Pennsylvania, WILLARD MANNING, University of Chicago, JOSÉ ESCARCE, University of California-Los Angeles, JEANNETTE ROGOWSKI, University of Medicine and Dentistry of New Jersey, SUSAN PADDOCK, RAND Corporation, and LIYI CEN, University of Pennsylvania—The Health Effects of Health Insurance for the Near-Elderly Uninsured

Discussants: DONALD KENKEL, Cornell University and NBER

GREGORY COLMAN, Pace University

SEAN NICHOLSON, Cornell University and NBER

Jan. 5, 2:30 pm

HES

Adam Smith as Theologian (B1)

Presiding: JERRY EVENSKY, Syracuse University

PAUL OSLINGTON, University of New South Wales and Princeton Seminary--The Natural Theological Context of Early Political Economy

BRENDAN LONG, Parliament House Canberra and Australian Catholic University--Adam Smith as Theologian

DEIRDRE MCCLOSKEY, University of Illinois-Chicago and Erasmus University of Rotterdam--Adam Smith and a Theological Defense of Capitalism

JEFFREY YOUNG, St. Lawrence University--Ethics and Theology in Adam Smith

Jan. 5, 2:30 pm

IOS

Competition Policy in the U.S. and the EU (L5)

Presiding: LAWRENCE WHITE, New York University

DENNIS CARLTON, U.S. Department of Justice--Competition Policy at the U.S. Department of Justice

LESLIE MARX, Former Chief Economist, Federal Communications Commission--Competition Policy at the U.S. Federal Communications Commission

MICHAEL SALINGER, Federal Trade Commission--Competition Policy at the U.S. Federal Trade Commission

OLIVER STEHMANN, Directorate–General Competition at the European Commission--Competition Policy at the European Commission

Discussant: LAWRENCE WHITE, New York University

Jan. 5, 2:30 pm

LERA

Conflict and Cooperation in Employment Relations “with Chinese Characteristics”

Presiding: SIMON CLARKE, University of Warwick

GUILAN YU, Jilin University, China--Employment Cooperation in China’s Creative Industry

HANLING LIU, Guandong Hi-technology Sector, China--Employment Conflict Resolution in China’s Hi-technology Sector

BRENDA C. SUN, Utah State University--Employment Conflict Resolution in China’s Strategic Sector

Discussants: SUE FERNIE, London School of Economics

XIANGQUAN ZENG, Remin University

Jan. 5, 2:30 pm

LERA

Healthcare Restructuring: Implications for Union Strategies

Presiding: DEBRA GERARDI, Creighton University

ARIEL AVGAR, Cornell University--Treating Conflict: Alternative Dispute Resolution in the Healthcare Industry

JULIE SADLER, Cornell University--Nurses: Professionals vs. Union Members

AMANDA TATTERSALL, University of Sydney--Success Where Others Fail: Community Unionism in Healthcare, Lessons from Toronto

Discussants: REBECCA GIVAN, Cornell University

DARLENE CLARK, Pennsylvania State University

Jan. 5, 2:30 pm

LERA

The New Arena of Workplace Conflict: Whistleblower Claims: Rights and Remedies

Presiding: WILLIAM CANAK, Middle Tennessee State University, and MARLENE HEYSER, Orange County Transportation Authority

JON ROSEN, Jon Rosen & Associates

PETER BENNETT, The Bennett Law Firm

SARA ADLER, Law Office of Sara Adler

JED L. MARCUS, Bressler, Amery & Ross, PC

Jan. 5, 2:30 pm

MEEA

Poster Session (A1)

Presiding: HASSAN ALY, Ohio State University

SAIF S. AL-SOWAIDI, University of Qatar, and ALI F. DARRAT, Louisiana Tech University--Financial Innovations and the Conduct of Monetary Policy: The Experience of Qatar and the United Arab Emirates

ZINE M. BARKA, University of Tlemcen --A Comparative Assessment of the Budget Transparency

CANER BAKIR, Koç University, Turkey--Central Bank Governance in Turkey: A Comparative Perspective

FATMA DOGRUEL and A.SUUT DOGRUEL, Marmara University--Foreign Debt Dynamics in Middle Income Countries

HALA EL-RAMLY, American University in Cairo--Output Convergence Among Arab Countries

SAZIYE GAZIOGLU, Middle East Technical University, Turkey, and University of Aberdeen--Stock Market Returns in An Emerging Financial Market: Turkish Case Study

HAYKEL HADJ SALEM, FSEG Mahdia and University of Monastir, Tunisia, and DOAA M. SALMAN, October University of Modern Science and Arts, Egypt--The Impact of Policy Volatility in Three Countries of the MENA: Evaluation by a Recursive CGE Model

OZAN HATIPOGLU, Bogazici University, and GULENAY OZBEK, New York University--The Political Economy of the Informal Sector and Income Redistribution

ALI REZA JALILI, New England College--Philosophy, Methodology, and Impact of Taxation under Islamic Jurisprudence

BASSEM KAMAR, International Monetary Fund, and DAMYANA BAKARDZHIEVA, University of Monaco--Banking Sector Reforms to Sustain Growth in the MENA Region

O. MIKHAIL, University of Central Florida--Unlocking the Pharaoh’s Vault? On the Welfare Implications of a Transparent Egyptian Central Bank

WASSEEM MINA, United Arab Emirates University--What Determines FDI Inflows to the GCC Countries?

NEVINE MOKHTAR EID, Cairo University, Egypt--Financial Integration in Egypt: “A Laugh to Keep from Crying”

HILMI NATHALIE and ALAIN SAFA, University of Nice, France--The Impact of Foreign Trade on Economic Growth: The Case of Turkey

NAGLA RIZK, American University in Cairo--Competitiveness of the Damietta Furniture Cluster in Egypt

EMAN SELIM, Tanta University, Egypt, and Mutah University, Jordan--Egyptian Exchange Rate Bubbles

JAY SQUALLI and KENNETH WILSON, Zayed University, UAE--How Open Are Arab Markets?

A.YASEMIN YALTA, Fordham University, New York--An Analysis of Capital Flight, Capital Account Liberalization and Investment: The Case of Turkey

Jan. 5, 2:30 pm

NABE

Current Trends and Issues in the American Labor Market

Presiding: CARL R. TANNENBAUM, NABE and LaSalle Bank

CARL R. TANNENBAUM, NABE and LaSalle Bank--NABE Outlook for Economic Activity, Job Creation, Wages, and Productivity Growth

DANIEL G. SULLIVAN, Federal Reserve Bank of Chicago--Decomposition of Trends in Labor Force Participation: How Much Slack Exists in the Job Market?

Speaker to be announced--Compensation Trends: The Relationship Between Wages and Benefits and an Evaluation of the Various Measures Of Income

Speaker to be announced--Comparison of Wages to Productivity Growth: How Will These Variables Evolve over the Coming Year?

Discussants: CARL R. TANNENBAUM, NABE and LaSalle Bank

Other discussants to be announced.

Jan. 5, 2:30 pm

NAFE

Forensic Economics I (K4)

Presiding: ARTHUR A. EUBANK, JR., Eubank Economics, Inc.

KURT V. KRUEGER, John O. Ward & Associates--Personal Consumption of Household Services

THOMAS R. IRELAND, University of Missouri-St. Louis--Valuing Advice, Counsel and Companionship between Parents and Adult Children

EDWARD FOSTER, University of Minnesota--Modeling Past Loss of Health Insurance

Discussants: LAWRENCE M. SPIZMAN, State University of New York-Oswego

ROBERT J. THORNTON, Lehigh University

FRANK SLESNICK, Bellarmine University

Jan. 5, 2:30 pm

NEA

Poverty and Place (D6)

Presiding: WILLIAM SPRIGGS, Howard University

THOMAS D. BOSTON, Georgia Institute of Technology--The Net Social Benefit of Revitalizing Public Housing Projects: A Case Study of Atlanta

RODNEY GREEN, Howard University--People versus Places

HAYDAR KURBAN and GAMINIE MEEPAGALA, Howard University--A Spatial Analysis of Impacts of Katrina on People and Places

WILLIAM RODGERS, Rutgers University--Does Contractionary Monetary Policy Have Differential Geographic Impacts?

LANCE FREEMAN, Columbia University--Spatial Assimilation Among African Americans at the Close of the 20^th Century

Discussants: MARY KAY PERKINS, Howard University

JOSEPH J. PERSKY, University of Illinois-Chicago

SAMUEL ROSENBERG, Roosevelt University

WILLIAM SPRIGGS, Howard University

Jan. 5, 2:30 pm

NTA

Current Issues in Corporate and International Taxation (H2)

Presiding: DHAMMIKA DHARMAPALA, University of Connecticut

DHAMMIKA DHARMAPALA, University of Connecticut, and JAMES R. HINES, JR., University of Michigan--Are Tax Havens Well-Governed?

GEORGE CONTOS, Internal Revenue Service, JOSHUA RAUH, and MORTEN SORENSEN, University of Chicago--Taxation and Corporate Financial Policy: Evidence from U.S. Corporate Tax Returns

PETER KATUSCAK, CERGE--The Impact of Personal Income Taxation on Executive Compensation

Discussants: ATIF MIAN, University of Chicago

LAURA KALAMBOKIDIS, University of Minnesota

WILLIAM M. GENTRY, Williams College

Jan. 5, 2:30 pm

NAEFA

Income Distribution (Roundtable) (D3)

Presiding: DOMINICK SALVATORE, Fordham University

WILLIAM BAUMOL, Princeton University—On Entrepreneurship and Education as Means Out of Poverty

JAGDISH BHAGWATI, Columbia University--Globalization and Income Distribution

JAMES W. DEAN, Simon Fraser University and Western Washington University-- Income Distribution and Welfare

JAMES K. GALBRAITH, University of Texas-Austin--Inequality and Globalization: False Leads and Smoking Guns in the Quest to Update Kuznets

JAMES POTERBA, Massachusetts Institute of Technology--Income Distribution and Tax Policy

Jan. 5, 2:30 pm

PSSI

Terrorism, Conflict and Cooperation

Presiding: WALTER ISARD, Cornell University

ALBERTO ABADIE, Harvard University, and SOFIA DERMISI, Roosevelt University—The Financial Impact of Terrorism and the Threat of Terrorism on the Real Estate Market in Chicago

CLAUDE BERREBI, RAND Corporation, and ESTEBAN KLOR, Hebrew University—The Impact of Terrorism on Israeli Voter’s Preferences

RAUL CARUSO, Catholic University of the Sacred Heart of Milan—A Model of Conflict and Conflict Management with Asymmetric Stakes

JOHAN MOYERSOEN, University of Oxford, and MARIEKE HUYSENTRUYT, London School of Economics—Rewarding Diversity for Collective Action

Discussants: MICHAEL INTRILIGATOR, University of California-Los Angeles

RAFAEL REUVENY, Indiana University

Jan. 5, 2:30 pm

SCE

Tutorial on Agent-Based Computational Economics: Theory with Practice (C0)

Presiding: LEIGH TESFATSION, Iowa State University

LEIGH TESFATSION, Iowa State University--Agent-Based Computational Economics: A Constructive Approach to Economic Theory

BLAKE LEBARON, Brandeis University--"Agent-Based Computational Finance: Explaining Empirical Regularities in Financial Markets

JOHN DUFFY, University of Pittsburgh--Parallel Experiments with Real and Computational Agents

JUNJIE SUN, Iowa State University--Agent-Based Test Beds for Market Design

Jan. 5, 2:30 pm

SGE

Issues in the Implementation of Monetary Policy

Presiding: CHARLES JONES, Columbia University

MICHAEL J. FLEMING, Federal Reserve Bank of New York, and MONIKA PIAZZESI, University of Chicago--Monetary Policy Tick-by-Tick

ELLYN BOUKUS, Yale University, and JOSHUA V. ROSENBERG, Federal Reserve Bank of New York--The Information Content of FOMC Minutes

SPENCE HILTON and WARREN B. HRUNG, Federal Reserve Bank of New York--Cumulated Excess Reserves and the Federal Funds Rate

Discussants: PAOLO PASQUARIELLO, University of Michigan

FRANCIS X. DIEBOLD, University of Pennsylvania

LINDA ALLEN, Baruch College, City University of New York

Jan. 5, 2:30 pm

URPE

Microfoundations of Heterodox Macroeconomics (B5)

Presiding: CHARLES WHALEN, Perspectives on Work

INGRID RIMA, Temple University—Reconstructing the Microeconomic Foundations for Understanding Labor Market

MICHELE NAPLES, The College of New Jersey—The Microfoundations of Keynes’ Theory of Passive Supply and Labor Demand

TAE-HEE JO, University of Missouri- Kansas City—Microfoundations of Effective Demand

AMITAVA KRISHNA DUTT, University of Notre Dame—Is There a Place for Microfoundations in Heterodox Macroeconomics?

Discussants: PETER DORMAN, Evergreen College

GILBERT L. SKILLMAN, Wesleyan University

Jan. 5, 2:30 pm

URPE/IAFFE

Gender and HIV/AIDS: Sexuality, Health, Education and Economic

Development (I1)

Presiding: LAURIE NISONOFF, Hampshire College

YAVUZ YASAR, University of Denver—Gendered Epidemic and De-Gendered Development: HIV/AIDS, Economic Development, and Sexuality in Cambodia

ESTHER REDMOUNT and MEGAN MCCALLISTER, Colorado College—AIDS and the Education of Girls in Swaziland with Particular Attention to Orphanages

MONICA DAS, Delhi University, India, and YAKUB QURAISHI, Secretary, Government of India—Sexuality and Scourge of the Syndrome- An Indian Contact

CONSOLATA KABONESA, Makere University, Uganda—Health Sector Reforms, Gender Relations and HIV/AIDS in Hoima District

Discussants: CHERYL DOSS, Yale University

CECILIA CONRAD, Pomona College

Jan. 5, 4:45 pm

AEA

Richard T. Ely Lecture

Presiding: THOMAS SARGENT, New York University

LARS HANSEN, University of Chicago

Jan. 5, 7:00 pm

AAEA

T.W. Schultz Memorial Dinner & Keynote Address

Presiding: ROBERT EVENSON, Yale University, and WALLACE HUFFMAN, Iowa State University

JAMES HECKMAN, University of Chicago

Saturday, January 6, 2007

Jan. 6, 7:45 am

ASE

Presidential Breakfast

Presiding: JOHN P. TIEMSTRA, Calvin College

DEBORAH M. FIGART, Richard Stockton College of New Jersey—Social Responsibility and Living Standards

Jan. 6, 8:00 am

AAEA

Preserving Rural Land (Q1)

Presiding: PETER BERCK, University of California-Berkeley

ELENA G. IRWIN, Ohio State University--Measuring Sprawl and Exurban Development: Now You See It, Now You Don’t

JACQUELINE GEOGHEGAN, Clark University--Are Farmland Preservation Program Easement Restrictions Capitalized into Farmland Prices? What Can a Propensity Score Matching Analysis Tell us?

PETER BERCK, University of California-Berkeley, and DAVID NEWBURN, Texas A&M University--The Effects of Rural Residential and Suburban Development on Rural Land Values

Discussant: KATHLEEN P. BELL, University of Maine

Jan. 6, 8:00 am

AEA

The Governance of Central Banks: Advances and Challenges

Presiding: FRANKLIN ALLEN, University of Pennsylvania

LARS FRISELL, KASPER ROSZBACH, Sveriges Riksbank, and GIANCARLO SPAGNOLO, Stockholm School o Economics—Governing the Governors: A Clinical Study of Central Banks

HAMID MEHRAN, Federal Reserve Bank of New York and ANJAN THAKOR, Washington University-St. Louis—Title to be announced

RENÉE ADAMS, University of Queensland—The Value of Federal Reserve Bank Directorships

Discussants: FRANKLIN ALLEN, University of Pennsylvania

LUIGI ZINGALES, University of Chicago

Jan. 6, 8:00 am

AEA

Medical Innovation and the Social Value of Health Progress

Presiding: To be announced.

TOMAS PHILIPSON and ANUPAM JENA, University of Chicago—Innovator Appropriate and the Social Value of Medical Innovation

KEVIN M. MURPHY and ROBERT H. TOPEL, University of Chicago—Social Value and the Speed of Innovation

FRANK R. LICHTENBERG, Columbia University—The Impact of New Drugs on U.S. Longevity and Medical Expenditure, 1990-2003

Discussants: To be announced.

Jan. 6, 8:00 am

AEA

Financial Security in Retirement: How Will Baby Boomers Fare? (D9)

Presiding: OLIVIA MITCHELL, University of Pennsylvania

MICHAEL HURD and SUSANN ROHWEDDER, RAND—Financial Security in Retirement in Face of Rising Health Care Costs

AXEL BOERSCH-SUPAN, Mannheim Research Institute for the Economics of Aging—Transitioning to Individual Accounts: Consequences for Baby Boomers’ Savings

ANNAMARIA LUSARDI, Dartmouth College, and OLIVIA MITCHELL, University of Pennsylvania—Explaining Wealth Holdings Across Cohorts: The Role of Planning Costs and Financial Education

IRINA GRAFOVA, University of Medicine & Dentistry of New Jersey—Your Money or Your Life: Managing Health, Managing Money

Discussants: LUIGI GUISO, University of Rome-Tor Vergata

NICOLA FUCHS-SCHUENDEIN, Harvard University

Jan. 6, 8:00 am

AEA

Behavioral Contracting

Presiding: ANJAN THAKOR, Washington University-St. Louis

FENGHUA SONG and ANJAN THAKOR, Washington University-St. Louis—Incentive Contracting with Psychological Ownership and Objective Ownership

LINDA KAMAS, Santa Clara University, and ANNE PRESTON, Haverford College—On Measuring Compassion in Social Preferences: Do Gender, Price of Giving, or Inequality Matter?

NACI MOCAN, University of Colorado-Denver and NBER—Vengeance

ANAND GOEL, DePaul University, and ANJAN THAKOR, Washington University-St. Louis—Optimal Contracts When Agents Envy Each Other

Jan. 6, 8:00 am

AEA

Peer Effects and Social Interactions (Z1)

Presiding: MICHAEL KEANE, Yale University

JENNIFER FOSTER, University of South Australia—Do Students Want to Succeed? Peer Group Choice, Social Influence and Undergraduate Performance

GUSTAVO BOBONIS, University of Toronto, and FREDERICO FINAN, University of California-Berkeley—Endogenous Peer Effects in School Participation

JASON FLETCHER, University of Wisconsin-Madison—Evaluating Economic and Social Interventions That Increase College Enrollment: Academic Standards, Social Status and the Quest for Identity

XIAODONG LIU, JOHN KAGEL, and LUNG-FEI LEE, Ohio State University—Dynamic Discrete Choice Models with Lagged Social Interactions, with an Application to the Estimation of Limit Pricing Games in Lab Experiments

Discussant: To be announced.

Jan. 6, 8:00 am

AEA

Understanding the Gender Gap in Wages

Presiding: FRANCINE BLAU, Cornell University

JULIE L. HOTCHKISS, Federal Reserve Bank of Atlanta and Georgia State University, and M. MELINDA PITTS, Federal Reserve Bank of Atlanta—The Role of Labor Market Intermittency in Explaining Gender Wage Differentials

QUINN MOORE, Mathematica Policy Research, and HEIDI SHIERHOLZ, University of Toronto—A Cohort Analysis of the Gender Wage Gap

ALICIA SASSER, Federal Reserve Bank of Boston—The Impact of Managed Care on the Gender Earnings Gap Among Physicians

JESSICA WOLPAW REYES, Amherst College—Discrimination and Equilibrium in the Market for Obstetricians and Gynecologists

Discussants: BARRY HIRSCH, Trinity University

LAWRENCE KAHN, Cornell University

JUDY HELLERSTEIN, University of Maryland

KENNETH TROSKE, University of Kentucky

Jan. 6, 8:00 am

AEA

Monetary Policy and the Term Structure of Interest Rates

Presiding: ORESTE TRISTANI, European Central Bank

SHARON KOZICKI, Bank of Canada, and PETER A. TINSLEY, George Washington University—Term Structure Transmission of Monetary Policy

MONIKA PIAZZESI, University of Chicago, and MARTIN SCHNEIDER, New York University—Bond Supply, Expectations, and the Yield Curve

GLENN D. RUDEBUSCH, Federal Reserve Bank of San Francisco, BRIAN SACK, Macroeconomic Advisers, and ERIC T. SWANSON, Federal Reserve Bank of San Francisco—Macroeconomic Implications of Changes in the Term Premium

PETER HOERDAHL and ORESTE TRISTANI, European Central Bank—Imperfect Policy Credibility, Term Premia and Expectations Puzzles

Discussants: FRANK SMETS, European Central Bank

MIKHAIL CHERNOV, Columbia Business School

JESSICA WACHTER, University of Pennsylvania

JUHA SEPPALA, University of Illinois-Urbana-Champaign

Jan. 6, 8:00 am

AEA

Decision Theory: New Methods, New Insights (D1)

Presiding: PAUL GLIMCHER, New York University

PAUL W. GLIMCHER, KENWAY LOUIE, and JOSEPH KABLE, New York University—Measuring Discounted Value Using Brain Imaging

ANDREW CAPLIN, MARK DEAN, ERIC DEWITT, and ROBB RUTLEDGE, New York University—Dopamine and Choice

DOUGLAS GALE, New York University, RAYMON FISMAN, Columbia University, and SHACHAR KARIV, University of California-Berkeley—Recovering Preferences from Choices in the Laboratory

Jan. 6, 8:00 am

AEA

Financial Frictions and Aggregate Fluctuations (E4)

Presiding: LAWRENCE CHRISTIANO, Northwestern University

LAWRENCE CHRISTIANO, Northwestern University, ROBERTO MOTTO, and MASSIMO ROSTAGNO, European Central Bank—Financial Factors in Business Cycles

SIMON GILCHRIST and JAE SIM, Boston University—Investment during the Korean Financial Crisis: The Role of Foreign-Denominated Debt

ANDREW LEVIN, FABIO NATALUCCI, and EGON ZAKRAJSEK, Federal Reserve Board—Firm-Level Evidence on the Cyclical Behavior of Credit Market Frictions

FIORELLA DE FIORE, European Central Bank, and HARALD UHLIG, Humboldt University—Bank Finance vs Bond Finance: Implications for Monetary Policy

Jan. 6, 8:00 am

AEA

Durable Goods (D1)

Presiding: CHRISTOPHER HOUSE, University of Michigan

CHRISTOPHER HOUSE and EMRE OZDENOREN, University of Michigan—Durable Goods and Conformity

LONES SMITH, University of Michigan—A Model of Exchange Where Beauty is in the Eye of the Beholder

IGAL HENDEL, Northwestern University, ALESSANDRO LIZZERI, New York University, and AVIV NEVO, Northwestern University—Non-linear Pricing of Storable Goods

ENNIO STACCHETTI, New York University, and DMITRIY STOLYAROV, University of Michigan—Obsolescence of Durable Goods and Optimal Consumption

Discussants: To be announced.

Jan. 6, 8:00 am

AEA

R&D and Business Cycles (E3)

Presiding: GADI BARLEVY, Federal Reserve Bank of Chicago

MICHELLE ALEXOPOLOUS, University of Toronto—Read All About It!! What Happens Following a Technology Shock

DIEGO COMIN, New York University—International Medium Term Business Cycles

PATRICK FRANCOIS, University of British Columbia, and HUW LLOYD-ELLIS, Queen’s University—Pro-cyclical R&D and Schumpeterian Cycles

GADI BARLEVY, Federal Reserve Bank of Chicago—On the Cyclicality of Research and Development

Jan. 6, 8:00 am

AEA

Interactive Workshops on Teaching Economics (A2)

Presiding: MICHAEL K. SALEMI, University of North Carolina-Chapel Hill

JILL L. CAVIGLIA-HARRIS, Salisbury University—Cooperative Learning and the Essay Exam

ROBERT REBELEIN, Vassar College, and NICOLE B. SIMPSON, Colgate University—A Classroom Experiment on Exchange Rate Determination

THOMAS A. CREAHAN, Morehead State University—New Insights from In-Class Experiments: Using Excel to Post and Analyze Results on the Spot

Discussants: GAIL HAFER, St. Louis Community College-Meramec

PAVEL KAPINOS, Carleton College

Jan. 6, 8:00 am

AEA

Global Current Account Imbalances and Their Adjustment Mechanism (F3)

Presiding: LORENZO BINI SMAGHI, European Central Bank

PIERRE-OLIVIER GOURINCHAS, CARLOS FELIPE LOPEZ, University of California-Berkeley, and HELENE REY, Princeton University—World Bankers: External Adjustment in the U.S. and the UK

JAUME VENTURA and FERNANDO BRONER, Universitat Pompeu Fabra—Rethinking the Effects of Financial Liberalization in Emerging Markets

PHILIP LANE, Trinity College Dublin, and GIAN-MARIA MILESI-FERRETTI, International Monetary Fund—Europe and Global Imbalances

MATTHIEU BUSSIERE, MARCEL FRATZSCHER, European Central Bank, and GERNOT MUELLER, Frankfurt University—On the Adjustment Process to Long-Run Equilibria of Current Account Positions

Discussants: OLIVIER BLANCHARD, Massachusetts Institute of Technology

RICARDO CABALLERO, Massachusetts Institute of Technology

MENZIE CHINN, University of Wisconsin-Madison

PAOLO PESENTI, Federal Reserve Bank of New York

Jan. 6, 8:00 am

AEA

Intrafamily Allocation (D1)

Presiding: JUSTIN WOLFERS, University of Pennsylvania

MARTIN BROWNING and METTE GERTZ, University of Copenhagen—Spending Time and Money within the Household

STEVEN HAIDER, Michigan State University, and KATHLEEN MCGARRY, University of California-Los Angeles, and NBER—Reliance on Family Support: Differences across the Income Distribution

LILIANA PEZZIN, Medical College of Wisconsin, ROBERT POLLAK, Washington University-St. Louis and NBER, and BARBARA SCHONE, Agency for Healthcare Research and Quality—Efficiency in Family Bargaining: Living Arrangements and Caregiving Decisions of Adult Children and Disabled Parents

Discussants: NANCY FOLBRE, University of Massachusetts-Amherst

SHELLY LUNDBERG, University of Washington

BETSEY STEVENSON, University of Pennsylvania

ROBERT WILLIS, University of Michigan

Jan. 6, 8:00 am

AEA

Violence and Wars (D7)

Presiding: FALI HUANG, Singapore Management University

ALEXIA BRUNET, Northwestern University—Show Me the Money: Pork Barrel Politics and Homeland Security Grant Allocations

ANIRUDDHA MITRA and SUSAN JELLISSEN, University of Illinois-Urbana-Champaign—Manipulating Discontent: A Simple Model of Suicide Terrorism

CATHERINE DE FONTENAY, University of Melbourne—Crime against Globalization

FALI HUANG, Singapore Management University—The Coevolution of Economic and Political Development

Jan. 6, 8:00 am

AEA

Experiments on Social Interaction

Presiding: DOROTHEA HERREINER, Loyola Marymount University

MICHAEL BRADY, BRIAN ROE, and STEVEN WU, Ohio State University—Social Preference Aggregation in Groups

ANDREW HEALY, Loyola Marymount University—How Do People Learn by Listening to Others? Experimental Evidence from Thailand

LEEAT YARIV and JACOB GOEREE, California Institute of Technology—An Experimental Study of Deliberative Voting

DOROTHEA HERREINER, Loyola Marymount University—The Relevance of Envy Freeness as Fairness Criterion

Jan. 6, 8:00 am

AEA

Improving Child Outcomes: What Works and What Doesn’t

Presiding: JANET CURRIE, Columbia University

RAJASHRI CHAKRABARTI, Harvard University—The Intended and Unintended Consequences of the No Child Left Behind

DAVID FRISVOLD, University of Michigan—Head Start Participation and Childhood Obesity

LUIS LOCAY, TRACY REGAN, University of Miami, and ARTHUR M. DIAMOND, University of Nebraska-Omaha—The Effects of Spanish-Language Background on Schooling and Achievement

PATRICK EMERSON, University of Colorado—Is Child Labor Harmful? The Impact of Working Earlier in Life on Adult Earnings

Discussants: JENS LUDWIG, Georgetown University

JULIE B. CULLEN, University of California-San Diego

AIMEE CHIN, University of Houston

MARIGEE BACOLOD, University of California-Irvine (tentative)

Jan. 6, 8:00 am

AEA

Education and Democracy (O1)

Presiding: SIMON JOHNSON, Massachusetts Institute of Technology

EDWARD GLAESER, GIACOMO PONZETTO, and ANDREI SHLEIFER, Harvard University—Why Does Democracy Need Education?

ANTONIO SPILIMBERGO, International Monetary Fund—Foreign Education and Democracy

DARON ACEMOGLU and SIMON JOHNSON, Massachusetts Institute of Technology—Education and Institutions

Discussants: CHRISTOPHER M. MEISSNER, University of Cambridge, UK

TIMOTHY BESLEY, London School of Economics

TORSTEN PERSSON, Institute for International Economic Studies, Sweden

Jan. 6, 8:00 am

AEA

Social Interactions and Economic Behavior (H0)

Presiding: JEFFREY BROWN, University of Illinois-Urbana-Champaign

JEFFREY BROWN, ZORAN IVKOVICH, University of Illinois-Urbana-Champaign, PAUL SMITH, Federal Reserve Board, and SCOTT WEISBENNER, University of Illinois-Urbana-Champaign and NBER—Neighbors Matter: Community Effects and Stock Market Participation

KATIE CARMAN, Tilburg University, The Netherlands—Social Influences and the Private Provision of Public Goods: Evidence from Charitable Contributions in the Workplace

ARIE KAPTEYN, RAND and Tilburg University, The Netherlands, PETER KOOREMAN, University of Groningen, PETER KUHN, University of California-Santa Barbara, and ADRIAAN SOETEVENT, University of Amsterdam—Measuring Social Interactions: Results from the Dutch Post Code Lottery

Discussants: TOBIAS MOSKOWITZ, University of Chicago

KARL SCHOLZ, University of Wisconsin-Madison

BRUCE SACERDOTE, Dartmouth College

Jan. 6, 8:00 am

AEA/CES

China’s Public Finance and Institutional Changes (H0)

Presiding: YINGYI QIAN, University of California-Berkeley

DANIEL W. BROMLEY, University of Wisconsin, and YANG YAO, Peking University-- Modeling Institutional Change: China since 1978

LIXING LI, University of Maryland—Rewarding and Bargaining: The Political Economy of China’s Local Administrative Changes

RENFU LUO, JIKUN HUANG, LINXIU ZHANG, Chinese Academy of Sciences, and SCOTT ROZELLE, University of California-Davis and Giannini Foundation--Elections, Fiscal Reform and Public Goods Provision in Rural China

YI YAO, Cornell University, and XIAOBO ZHANG, International Food Policy Research Institute--Fiscal Decentralization, Regional Competition, and Economic Performance: Evidence from County-Level Data in China

Discussants: SCOTT ROZELLE, University of California-Davis and Giannini Foundation

XIAOBO ZHANG, International Food Policy Research Institute

INXIU ZHANG, Chinese Academy of Sciences

YANG YAO, Peking University

Jan. 6, 8:00 am

AEA/KAEA

North Korean Economy at a Crossroads (P2)

Presiding: JAMES LISTER, Korea Economic Institute of America

THOMAS PARK, Wayne State University—The North Korean Famine and Humanitarian Assistance

BERNHARD SELIGER, Hanns Seidel Foundation Korea—North Korean Monetary and Exchange Rate Policies: Is There a Way Out of Hyperinflation?

JOACHIM AHRENS, European Business School—North Korea: From Failing Towards Reforming State: A Governance Perspective

SEMOON CHANG, University of South Alabama—U.S. Economic Sanctions on North Korea

Discussants: JUDITH THORNTON, University of Washington

ELLIOTT PARKER, University of Nevada-Reno

SUK KIM, University of Detroit Mercy

THOMAS PARK, Wayne State University

Jan. 6, 8:00 am

AFA

Exploring Asset Pricing Anomalies

Presiding: JONATHAN LEWELLEN, Dartmouth College

LUBOS PASTOR and PIETRO VERONESI, University of Chicago—Technological Revolutions and Stock Prices

TONI M. WHITED, University of Wisconsin-Madison, and LU ZHANG, University of Rochester—Testing the Q-Theory of Anomalies

WALTER N. TOROUS, ROSSEN I. VALKANOV, and ALBERTO PIAZZI, University of Verona—Expected Returns and the Expected Growth in Rents of Commercial Real Estate

Discussants: LEONID KOGAN, Massachusetts Institute of Technology

SYDNEY LUDVIGSON, New York University

MARKUS BRUNNERMEIER, Princeton University

Jan. 6, 8:00 am

AFA

Portfolio Choice

Presiding: DIMITRI VAYANOS, London School of Economics

PAUL WILLEN, Federal Reserve Board, and FELIX KUBLER, University of Mannheim—Collateralized Borrowing and Life-Cycle Portfolio Choice

OTTO VAN HEMERT, New York University—Life-Cycle Housing and Portfolio Choice with Bond Markets

JULES H. VAN BINSBERGEN, MICHAEL W. BRANDT, Duke University, and RALPH S.J. KOIJEN, Tilburg University—Optimal Decentralized Investment Management

Discussants: HANNO LUSTIG, University of California-Los Angeles

FRANCISCO GOMES, London Business School

PHILIP DYBVIG, Washington University-St. Louis

Jan. 6, 8:00 am

AFA

The Dynamics of International Equity Markets

Presiding: ANDREW KAROLYI, Ohio State University

ESTHER EILING, Tilburg University, and BRUNO GERARD, Norwegian School of Management—Dispersion, Equity Returns Correlations and Market Integration

SOHNKE M. BARTRAM, STEPHEN J. TAYLOR, and YAW-HUEI WANG, Lancaster University—The Euro and European Financial Market Dependence

GEERT BEKAERT, ROBERT J. HODRICK, Columbia University, and XIAOYAN ZHANG, Cornell University—International Stock Return Co-movements

Discussants: FRANCESCA CARRIERI, McGill University

FRANS DE ROON, Tilburg University

CHEOL EUN, Georgia Institute of Technology

Jan. 6, 8:00 am

AFA

Capital Structure

Presiding: MICHAEL ROBERTS, University of Pennsylvania

XIN CHANG, University of Melbourne, and SUDIPTO DASGUPTA, Hong Kong University of Science & Technology—Do Firms Have Debt Ratio Targets? A Reevaluation of the Evidence

VAHAP B. UYSAL, University of Oklahoma—Deviation from the Target Capital Struture and Acquisition Choices

MURRAY CARLSON and ALI LAZRAK, University of British Columbia—Leverage Choice and Credit Spread Dynamics When Managers Risk Shift

Discussants: MICHAEL LEMMON, University of Utah

MARK LEARY, Duke University

ILYA STREBULAEV, Stanford University

Jan. 6, 8:00 am

AFA

M&A

Presiding: STEVEN KAPLAN, University of Chicago

ULRIKE MALMENDIER, Stanford University, and ENRICO MORETTI, University of California-Berkeley—Winning by Losing: Evidence on Overbidding in Mergers

DARREN J. KISGEN, JUN QIAN, Boston College, and WEIHONG SONG, University of Cincinnati—Are Fairness Opinions Fair? The Case of Mergers and Acquisitions

ERIK DEVOS, Ohio University, PALANI-RAJAN KADAPAKKAM, University of Texas-San Antonio, and SRINIVASAN KRISHNAMURTHY, State University of New York-Binghamton—How Do Mergers Create Value? A Comparison of Taxes, Market Power and Efficiency Improvements as Explanations for Synergies

JINGHUA YAN, University of Pennsylvania—Prisoners’ Dilemma: Theory and Evidence of Horizontal Mergers

Discussants: MICHAEL WEISBACH, University of Illinois-Urbana-Champaign

MATTHEW RHODES-KROPF, Columbia University

ERIK STAFFORD, Harvard University

C. EDWARD FEE, Michigan State University

Jan. 8, 8:00 am

AREUEA

REIT Finance

Presiding: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison

WALTER I. BOUDRY, JARL G. KALLBERG, and CROCKER H. LIU, Arizona State University--Analysts and Underwriter Choice

JING DAI, SEOW-ENG ONG, National University of Singapore, and ANDREW C. SPIELER, Hofstra University--Cash Flow Volatility and Dividend Policy for U.S. REITs

HONGHUI CHEN, University of Central Florida, DAVID H. DOWNS, Virginia Commonwealth University, and GARY A. PATTERSON, University of South Florida--The Short Interest Market for Publicly Traded Real Estate

ERIK LAM and DOGAN TIRTIROGLU, University of Cambridge--A New Era: Real Estate Industry in the S&P500 Indices

Discussants: JAMES SHILLING, University of Wisconsin
ZHONGHUA WU, Florida International University
KO WANG, Baruch College, CUNY
JOSEPH PAGLIARI, Northwestern University

Jan. 6, 8:00 am

AREUEA

Housing and Household Wealth

Presiding: KAREN M. PENCE, Federal Reserve Board

YAN Y. LEE, Federal Deposit Insurance Corporation--Does Homeownership Decrease Crime? Evidence from the City of Los Angeles, 1983-2000

JONATHAN D. FISHER and ELLIOT D. WILLIAMS, Bureau of Labor Statistics--Home Maintenance and Investment Decisions

JOSEPH BENNETT NICHOLS, Federal Reserve Board--How Do Local Housing Market Cycles Affect Long-Term Wealth Accumulation?

GARY V. ENGELHARDT, Syracuse University--Social Security and Elderly Homeownership: Evidence from the Social Security Notch

Discussants: ROBERT AVERY, Federal Reserve Board
THOMAS DAVIDOFF, University of California-Berkeley
ERIK HURST, University of Chicago
LEORA FRIEDBERG, University of Virginia

Jan. 6, 8:00 am

AREUEA

Local Policy Impacts on Property Markets

Presiding: WAYNE R. ARCHER, University of Florida

HENRY J. MUNNEKE, and A. MONIQUE PARKES, University of Georgia--An Evaluation of Economic Development Programs and Their Impact on Residential House Prices

DOUGLAS SIMPSON NOONAN, Georgia Institute of Technology, and BRETT M. BADEN, Tufts University--Single-family vs. Multi-family: The Effect of Impact Fees Upon Construction Type

CAROLYN DEHRING, University of Georgia, CRAIG DEPKEN, and MICHAEL WARD, University of Texas-Arlington--The Impact of Stadium Announcements on Residential Property Values: Evidence from a Natural Experiment in Dallas-Fort Worth

LEAH BROOKS, McGill University--Unveiling Hidden Districts: Describing and Assessing the Adoption Patterns of Business Improvement Districts in California

Discussants: DONALD HAURIN, Ohio State University
GREGORY S. BURGE, Florida State University
THOMAS THIBODEAU, University of Colorado
KERRY VANDELL, University of California-Irvine

Jan. 6, 8:00 am

ACES

Foreign Direct Investment and Development (O0)

Presiding: KATHERINE TERRELL, University of Michigan

LAURA ALFARO, Harvard Business School, AREENDAM CHANDA, North Carolina State University, SEBNEM KALEMLI-OZCAN, University of Houston, and SELIN SAYEK, International Monetary Fund--FDI and Economic Growth: The Role of the Local Financial Markets

JENS M. ARNOLD, Bocconi University, Italy and World Bank, and BEATA SMARZYNSKA JAVORCIK, World Bank--Gifted Kids or Pushy Parents? Foreign Acquisitions and Plant Performance in Indonesia?

MEGHANA AYYAGARI and RENATA KOSOVA, George Washington University--Effect of FDI on Entrepreneurship: Evidence from the Czech Republic

YUIRY GORODNICHENKO, JAN SVEJNAR, and KATHERINE TERRELL, University of Michigan--Vertical and Horizontal Spillovers from FDI: Evidence from 15 Transition Economies

Discussants: ANN HARRISON, University of California-Berkeley

GORDON HANSON, University of California-San Diego

FREDRIK SJÖHOLM, Stockholm School of Economics

Jan. 6, 8:00 am

AFEE

Coping under Changing Economic Circumstances (D6)

Presiding: GEOFFREY SCHNEIDER, Bucknell University

ROBERT H. SCOTT III, Monmouth University--Credit Card Use and Abuse: A Veblenian Analysis

CHRISTIAN WELLER, Center for American Progress--Need or Want: Explaining the Rise in

Consumer Credit in the U.S.

WILFRED DOLFSMA, Erasmus University, Rotterdam, and ROBERT MCMASTER, University of

Aberdeen, UK--Bankruptcy and (of?) Chicago School of Law and Economics – Toward an

Institutional Economic Analysis of Law

JAMES PEACH, New Mexico State University--Institutional Perspectives on Immigration Policy

HOWARD STEIN, University of Michigan--Employment and Accumulation? The ‘Poverty’ of

Poverty Reduction Strategies in Africa

Discussant: MAYO TORUNO, California State University-San Bernardino

Jan. 6, 8:00 am

ASGE

The Estate Tax and Charitable Bequests (H2)

Presiding: ELEANOR BROWN, Pomona College

ROB MCCLELLAND, U.S. Bureau of Labor Statistics-- Charitable Bequests and the Repeal of the Estate Tax

DAVID JOULFAIAN, U.S. Treasury -- Charitable Bequests under a Vanishing Estate Tax: Evidence from Recent Trends in Giving

JON BAKIJA, Williams College--New Evidence on the Effects of Taxes on Charitable Bequests

Discussants: GERALD AUTEN, U.S. Department of the Treasury

WOJCIECH KOPCZUK, Columbia University

MARK WILHELM, Indiana University-Purdue University-Indianapolis

Jan. 6, 8:00 am

AERE

Measuring Environmental Preferences and Performance (Q5)

Presiding: GLENN BLOMQUIST, University of Kentucky

CHIH-CHEN LIU, JOSEPH A. HERRIGES, and CATHERINE L. KLING, Iowa State University--What Are the Consequences of Consequentiality?

TRUDY CAMERON and DAN BURGHART, University of Oregon--Discounting versus Risk Aversion

MAXIMILIAN AUFHAMMER, University of California-Berkeley, ANTONIO M. BENTO, University of Maryland, and SCOTT LOWE, University of California-Santa Barbara--Measuring the Effects of Environmental Regulations: The Critical Importance of Spatially Disaggregated Air Modeling

ANNA ALBERINI, University of Maryland, STEFANIA TONIN, MARGHERITA TURVANI, University of Venice-IUAV, and ALINE CHIABAI, Fondazione Eni Enrico Mattei, Venice--Paying for Permanence: The VSL and Public Preferences for Contaminated Site Cleanup

Discussants: NICHOLAS E. FLORES, University of Colorado-Boulder

MICHAEL HANEMANN, University of California-Berkeley

WOLFRAM SCHLENKER, Columbia University

LAURA O. TAYLOR, Georgia State University

Jan. 6, 8:00 am

AIES

Issues in Economic Growth and Development (F1, F2, F3)

Presiding: SURESH DESAI, Montclair State University

CHANDANA CHAKRABORTY and PETER NUNNENKAMP, Montclair State University—Economic Reforms, Foreign Direct Investment and Their Impact on Indian Economy

ISHAQ NADIRI, New York University, BANANI NANDI, AT&T, and CHANDANA CHAKRABORTY, Montclair State University—Telecommunications Infrastructure, Intensity and Productivity in the U.S.

HANS-PETER BRUNNER, Asian Development Bank—Trade, Technology and Institutions

SYED HYAT, Siena College, and GAURAV AGRAWAL, Rensselaer Polytechnic Institute—Technology Driven Services Sector Growth in India

KANKANA MUKHERJEE, Worcester Polytechnic Institute—Energy Use Efficiency in Indian Manufacturing Sector, a Nonparametric Analysis

DEBASRI MUKHERJEE, Western Michigan University—Polio Count: Indian Evidence

PAUL MELVIN and SUBHASH SHARMA, Southern Illinois University—Sustainability of Indian Economic Growth, a Total Productivity Analysis

BRINDA SOOREEA-BHEEMUL, London Metropolitan University, and RAJEEV SOOREEA, Pennsylvania State University—“Inward” Foreign Direct Investment

Discussants: APARAJIT NANDI, Queens College, City University of New York

RENU KALLIANPUR, AXA Advisors

SUHAS KETKAR, Vanderbilt University

CHAITRAM TALELE, Columbia State University

Jan. 6, 8:00 am

Public Economics

Presiding: RUSSELL W. COOPER, University of Texas-Austin

FRANCOIS GOURIO and JIANJUN MIAO, Boston University--A General Equilibrium Analysis of the Dividend Tax Cut

JANG-TING GUO, University of California-Riverside, and SHARON G. HARRISON, Barnard College, Columbia University--Useful Government Spending and Macroeconomic (In)stability under Balanced-Budget Rules

LAURA POWER, U.S. Department of the Treasury, and MICHAEL KILEY, Federal Reserve Board--Efficient Depreciation Allowances

ADITYA GOENKA, University of Essex and National University of Singapore, and CHRISTOPHE PRECHAC, University of Paris 1--Stabilizing Sunspots

Discussants: RUSSELL W. COOPER, University of Texas-Austin

STEPHANIE SCHMITT-GROHE, Duke University

Jan. 6, 8:00 am

Empirical Likelihood and GMM

Presiding: YUICHI KITAMURA, Yale University

WHITNEY K. NEWEY, Massachusetts Institute of Technology, and FRANK WINDMEIJER, University of Bristol--Generalized Empirical Likelihood with Many Weak Moment Conditions

BERTILLE ANTOINE, University of Montreal and CIREQ, and ERIC RENAULT, University of North Carolina, CIRANO and CIREQ--Efficient GMM with Multiple Rates of Convergence and Applications to Nearly-Weak Identification

YUICHI KITAMURA and TAISUKE OTSU, Yale University--A Robust and Efficient Estimator for Moment Condition Models

FALLAW SOWELL, Carnegie Mellon University--An Empirical Saddlepoint Approximation to the Distributions in One-Step GMM Estimators

Jan. 6, 8:00 am

Structural Change, Trade and Growth

Presiding: NANCY STOKEY, University of Chicago

DOUGLAS GOLLIN, Williams College, STEPHEN PARENTE, University of Illinois, and RICHARD ROGERSON, Arizona State University--Miracle Economies and Miracle Seeds: Agricultural Development, Structural Transformation, and Economic Growth

CRISTINA ECHEVARRIA, University of Saskatchewan, and CHRISTOPHER HAJZLER, University of Western Ontario--A Global Unbalanced Growth Path

WILBUR JOHN COLEMAN II, Duke University--Accommodating Emerging Giants

TIMOTHY J. KEHOE, University of Minnnesota and Federal Reserve Bank of Minneapolis,
and KIM J. RUHL, University of Texas--How Important is the New Goods Margin in International Trade?

Discussants: CHRIS PISSARIDES, London School of Economics

DIEGO RESTUCCIA, University of Toronto

AYSE IMROHOROGLU, University of Southern California

FRANCISCO BUERA, Northwestern University

Jan. 6, 8:00 am

ES

Industrial Organization of Health Care Markets

Presiding: DAVID DRANOVE, Northwestern University

DAVID DRANOVE and MARK SATTERTHWAITE, Northwestern University--A Model of Bargaining in Option Demand Markets

KATHERINE HO, Columbia University--Why So Few Integrated Plans? Simulating the Impact of an Alternative Health Insurance Strategy

RAJIV SHARMA, Portland State University, MIRON STANO, Oakland University, and RENU GEHRING, Ace-Cube LLP--Short-Term Fluctuations in Hospital Demand: Implications for Admission, Discharge, and Discriminatory Behavior

GAUTAM GOWRISANKARAN, Washington University-St. Louis, MICHAEL CHERNEW, Harvard University, and DENNIS SCANLON, Pennsylvania State University--Learning and the Value of Information: Evidence from Health Plan Report Cards

Discussants: PHILIP A. HAILE, Yale University

MARTIN GAYNOR, Carnegie Mellon University

FIONA SCOTT-MORTON, Yale University

LEEMORE S. DAFNY, Northwestern University

Jan. 6, 8:00 am

Structural Estimation: Theory and Applications

Presiding: JOHN RUST, University of Maryland

BERNARD FORTIN, Universite Laval, NICOLAS JACQUEMET, CREST, and BRUCE SHEARER, Universite Laval--Compensation, Incentives and the Practice Patterns of Physicians

HIROYUKI KASAHARA, University of Western Ontario, and KATSUMI SHIMOTSU, Queen's University--Nested Pseudo-likelihood Estimation and Bootstrap-based Inference for Structural Discrete Markov Decision Models

TIMOTHY P. HUBBARD and HARRY J. PAARSCH, University of Iowa--Investigating Bid Preferences at Low-Price, Sealed-Bid Auctions

VICTOR AGUIRREGABIRIA and CHUN-YU HO, Boston University--Estimating the Structure of Sunk Costs in the US Airline Industry

Jan. 6, 8:00 am

ESA

Reputation and Indirect Reciprocity: The Evolution of Cooperation (C9)

Presiding: ARTHUR SCHRAM, University of Amsterdam

DIRK ENGELMANN, Royal Holloway, University of London, and URS FISCHBACHER, University of Zurich--Indirect Reciprocity and Strategic Reputation Building in an Experimental Helping Game

TIMOTHY CASON, Purdue University, ARNO RIEDL, Maastricht University, ARTHUR SCHRAM, and ALJAŽ ULE, CREED, University of Amsterdam--Indirect Punishment

SAMUEL BOWLES, Santa Fe Institute and University of Siena, JEFFREY CARPENTER, Middlebury College, HERBERT GINTIS, Santa Fe Institute and Central European University-- Mutual Monitoring in Teams

GARY BOLTON, Pennsylvania State University, CLAUDIA LOEBBECKE, and AXEL OCKENFELS, University of Cologne--How Reputation Information Interacts with Competition in Anonymous Online Trading: An Experimental Study

Discussants: TIMOTHY CASON, Purdue University

ROBERTO WEBER, Carnegie Mellon University

ARTHUR SCHRAM, CREED, University of Amsterdam

TIMOTHY SALMON, Florida State University

Jan. 6, 8:00 am

IOS

Contracting with Limited Information (D8)

Presiding: JENNIFER REINGANUM, Vanderbilt University

DIRK BERGEMANN, Yale University--Information in Mechanism Design

ANDREW F. DAUGHETY and JENNIFER F. REINGANUM, Vanderbilt University--Hidden Talents: Partnerships and Pareto-Improving Privacy

NAVIN KARTIK, University of California-San Diego, and R. PRESTON MCAFEE, California Institute of Technology--Signaling Character in Electoral Competition

SIMON WILKIE, University of Southern California--Contract Renegotiation and Arbitration

Discussants: DONGSOO SHIN, Santa Clara University

MICHAEL RAITH, University of Rochester

RICK HARBAUGH, Indiana University

ALEXANDER RASKOVICH, U.S. Department of Justice

Jan. 6, 8:00 am

IEFS

Exchange Rates and the Current Account

Presiding: MARIO J. CRUCINI, Vanderbilt University

DAVID PARSLEY, Vanderbilt University, and HELEN POPPER, Santa Clara
University--Understanding Real Exchange Rate Movements When Trade is in
Middle Products

LUKASZ DROZD and JAROMIR NOSAL, University of Minnesota--Endogenous Markups, Market Expansion Frictions and International Pricing Anomalies

TANYA MOLODTSOVA and DAVID PAPELL, University of Houston--Out-of-Sample Exchange Rate Predictability with Taylor Rule Fundamentals

ESPEN HENRIKSEN, University of Oslo, and FREDERIC LAMBERT, New York
University--Technology Shocks and Current Account Dynamics

Discussants: LINDA TESAR, University of Michigan

VIRGILIU MIDRIGAN, Federal Reserve Bank of Minneapolis and New York University

MOTOTSUGU SHINTANI, Vanderbilt University

MARIO J. CRUCINI, Vanderbilt University

Jan. 6, 8:00 am

INEM

Theory and Evidence in Economics

Presiding: MATTHIAS KLAES, University of Keele, United Kingdom

OLIVER E. WILLIAMSON, University of California-Berkeley—Pragmatic Methodology

ROBERT S. GOLDFARB and JONATHAN RATNER, George Washington University—Illuminating Competing Visions of the Model-Empirics Nexus: Solow versus Lipsey et al

JULIE A. NELSON, Tufts University—Ethics, Evidence and International Debt

ART DIAMOND, University of Nebraska-Omaha—What Counts as Good Evidence That Creative Destruction is the Essential Fact about Capitalism?

Discussants: D. WADE HANDS, University of Puget Sound

MATTHIAS KLAES, University of Keele, United Kingdom

Jan. 8, 8:00 am

LERA

Applying International Human Rights at the Workplace in a Global Economy

Presiding: JANICE BELLACE, University of Pennsylvania

KAREN CURTIS, International Labor Organization--The ILO’s Declaration of Fundamental Principles and Rights at Work

EDWARD E. POTTER, Coca-Cola Company--The Observance of International Labor Standards at Workplace Level

OWEN HERRNSTADT, International Association of Machinists--International Framework Agreements and Other Strategies for Corporate Social Responsibility

ARNOLD M. ZACK, Harvard University--Using Mediation to Further Compliance with International Labor Standards

EILEEN B. HOFFMAN, Federal Mediation and Conciliation Services--The Use of Mediation in Developing Countries

Jan. 6, 8:00 am

LERA

Bankruptcy and Labor Relations

Presiding: DAVID LEWIN, University of California-Los Angeles

HARRY KATZ, Cornell University

NIRAJ GANATRA, UAW

Jan. 6, 8:00 am

LERA

LERA Refereed Papers – Collective Bargaining, Dispute Resolution, Labor

Unions/Labor Studies, and International/Comparative IR/HR

Presiding: HOWARD STANGER, Canisius College

GREGOR GALL, University of Stirling, and DAVID ALLSOP, University of Hertfordshire—Labour Quiescence Continued? Recent Strike Activity in Western Europe

ELIZABETH HOFFMANN, Purdue University—Homecare Dispute Resolution

MARK STUART, University of Leeds, and MIGUEL MARTÍNEZ LUCIO, University of Bradford—A Bridge over Troubled Water: The Role of the British Advisory, Conciliation and Arbitration Service (ACAS) in Facilitating Labour-Management Consultation in Public Sector Transformation

BARRY FRIEDMAN, STEVEN E. ABRAHAM, State University of New York-Oswego, and RANDALL K. THOMAS, Harris Interactive, Inc.—Union Membership, Facet Satisfaction and Intent to Leave: Further Evidence on the Voice Face of Unions

Discussants: ANTHONY ZUMBOLO, New York State Public Employment Relations Board

BETH ALMEIDA, International Association of Machinists and Aerospace Workers

Jan. 6, 8:00 am

MEEA

Conflict, Governance, and Economic Performance (D7, O1, P1

)

Presiding: MINE CINAR, Loyola University

BAHAR ARAZ-TAKAY, Hacettepe University, Turkey, K. PEREN ARIN, Massey University, New Zealand, and TOLGA OMAY, Cankaya University, Turkey--The Endogenous Relationship Between Terrorism and Economic Performance: Turkish Evidence

MEHMET SERKAN TOSUN and ARZU SEN, West Virginia University--Preventing Regional Conflicts as a Global Public Good: the Case of the MENA Region

AYÇA TEKIN-KORU, Oregon State University--The Mystery of Almost Non-Existent FDI in the Middle East and North Africa: Severe Investment Climates Or Regional Stereotyping?

AGNIESZKA SKURATOWICZ, European Commission--The Political Economy of Reforms in the Southern Mediterranean Countries and the European Neighborhood Policy

ADEL BOUGHRARA, University of Sousse, Tunisia--Does Corruption Affect Monetary Authorities?

Discussants: OZAN HATIPOGLU, Bogazici University

JEFFREY NUGENT, University of Southern California

MICHAEL TWOMEY, University of Michigan-Dearborn

SALPIE DJOUNDOURIAN, Lebanese American University

O. MIKHAIL, University of Central Florida

Jan. 6, 8:00 am

NAEE/NCEE

Economic Education: Perspectives on Student Learning from Abroad (A2)

Presiding: JOHN SCOTT, North Georgia College and State University

PETER DAVIES and JEAN MANGAN, Staffordshire University--Embedding Threshold Concepts Using Reflective Exercises

COSTAS SIRIOPOULOS and GERASIMOS POMONIS, University of Patras--A Comparative Analysis of Economics Graduates’ Learning Styles and Critical Thinking Skills

I. DAVID WHEAT, JR., University of Bergen--Adding Feedback Loop Diagrams to the Macro Instructional Toolkit

JENNJOU CHEN, National Chengchi University, and TSUI-FANG LIN, National Taipei University--Class

Attendance and Exam Performance: A Randomized Experiment

Discussants: TIM RUSSO, National Defense University

ABDI FERDOWSI, Ferris State University

MINH QUANG DAO, Eastern Illinois University

TIMOTHY M. DIETTE, Washington and Lee University

Jan. 6, 8:00 am

NAFE

Forensic Economics II (K4)

Presiding: DAVID H. CISCEL, University of Memphis

GARY R. SKOOG, DePaul University and Legal Econometrics, and JAMES E. CIECKA, DePaul University--Recent Developments in Worklife Expectancy Modeling

MATTHEW J. CUSHING and DAVID I. ROSENBAUM, University of Nebraska--Forecasting Net Discount Rates

ELIAS C. GRIVOYANNIS, Yeshiva University--Estimation and Inference in Logit and Probit Econometric Models for Litigation Support

Discussants: JAMES D. RODGERS, Pennsylvania State University

TIMOTHY OPIELA, DePaul University

STEPHEN HORNER, Economic Consulting

Jan. 6, 8:00 am

NEA

Economic Growth and Development II: Caribbean and Sub-Saharan Africa (O1)

Presiding: KWABENA GYIMAH-BREMPONG, University of South Florida

CARLTON AUGUSTINE and C. KENRICK HUNTE, Howard University--Macroeconomic Adjustment and Exchange Rate Regimes in Selected Caribbean Countries

STEPHANIE SEQUINO, University of Vermont, JAMES HEINTZ, Political Economy Research Institute, and ELISSA BRAUNSTEIN, Colorado State University--Central Bank Policy in Anglophone Caribbean: Implications for Employment

AUGUSTINE KWASI FOSU, UN Economic Commission for Africa--Democracy and Economic Growth in Sub-Saharan Africa

RANSFORD PALMER, Howard University--Migration and Caribbean Economic Development

LAWRENCE R. MCNEIL, Howard University--Innovation Spillovers and Economic Growth in Africa

Discussants: ABERA GELAN, University of Wisconsin-Milwaukee

SYLVAIN BOKO, Wake Forest University

WILLIAM DARITY, JR., University of North Carolina

JULIET ELU, Spelman College

Jan. 6, 8:00 am

NAEFA

Government-Sponsored Enterprises and Home Mortgage Finance (G2)

Presiding: RANDY KROSZNER, Federal Reserve Board

SCOTT FRAME, Federal Reserve Bank of Atlanta, DIANA HANCOCK, and WAYNE PASSMORE, Federal Reserve Board--“FHLB Advances and Mortgage Finance

DWIGHT JAFFE and JOHN QUIQLEY, University of California-Berkeley--Home Mortgages and the Mortgage Finance System: What Role for GSEs?

RAPHAEL BOSTIC, YONGHENG DENG, and STUART GABRIEL, University of Southern California--FHA, the GSEs and Underserved Urban Households

ANDREW COHEN, ANDREAS LEHNERT, and WAYNE PASSMORE, Federal Reserve Board--A Model of GSEs and Secondary Market Trading

Discussants: BRENT AMBROSE, Pennsylvania State University

HARVEY ROSENBLUM, Federal Reserve Bank of Dallas

GEORGE KAUFMAN, Loyola University of Chicago

DEBBIE LUCAS, Northwestern University

Jan. 6, 8:00 am

PSSI

Interdependence and Conflict

Presiding: MICHAEL INTRILIGATOR, University of California-Los Angeles

PHILIPPE MARTIN, Universite de Paris I, THIERRY MAYER, Paris Jourdan Sciences Economiques, an MATHIAS THOENIG, Universite de Geneve—Make Trade Not War

SOLOMON POLACHEK, Binghamton University, and CARLOS SEIGLIE, Rutgers University—Trade, FDI and War

SAUMITRA JHA, Stanford University—Trade, Institutions and Religious Conflict in India

RAFAEL REUVENY, Indiana University—Title to be announced.

Discussants: WALTER ISARD, Cornell University

MARTIN MCGUIRE, University of California-Irvine

Jan. 6, 8:00 am

SGE

Economic Analysis of New Savings Opportunities in Emerging Areas

Presiding: JONATHAN A. SCHWABISH, Congressional Budget Office

Alexandra Minicozzi U.S. Department of the Treasury, and ELISE GOULD, Economic Policy Institute--Health Savings Accounts: Analysis of Initial Participants

MARGARET CLANCY, CHANG-KEUN HAN, LISA REYES MASON, and MICHAEL SHERRADEN, Washington University--Inclusion in College Savings Plans: Participation and Saving in Maine’s Matching Grant Program

JONATHAN A. SCHWABISH and JULIE TOPOLESKI, Congressional Budget Office--Social Security Individual Accounts and the Impact on Low Earners

Discussants: STUART HAGEN, Congressional Budget Office

RAMON P. DEGENNARO, University of Tennessee

JOHN TURNER, AARP

Jan. 6, 8:00 am

TPUG

Communications Infrastructure and the Economy

Presiding: CHRISTIAAN HOGENDORN, Wesleyan University

SHANE M. GREENSTEIN, Northwestern University, CHRIS FORMAN, Carnegie Mellon University, and AVI GOLDFARB, University of Toronto-- Understanding the Inputs into Innovation: Do Cities Substitute for Internal Firm Resources?

CHRISTOPHER GARBACZ, Mississippi Public Utilities Staff, and HERBERT G. THOMPSON, JR., Ohio University--World Telecom Demand, Productive Efficiency and Economic Growth

FERNANDO BELTRÁN, University of Auckland Business School, ALAIN BOURDEAU DE FONTENAY, Columbia University, and MARCIO WOHLERS DE ALMEIDA, State University of Campinas--Internet as a Critical Infrastructure: Lessons from the Backbone Experience in South America

JANICE A. HAUGE, University of North Texas, and MARK A. JAMISON, University of Florida--Bureaucrats as Entrepreneurs: Do Municipal Telecom Providers Hinder Private Entrepreneurs?

Discussants: To be announced.

Jan. 6, 8:00 am

URPE

Topics in Heterodox Macroeconomics (B5)

Presiding: MARTHA STARR, American University

FREDERIC S. LEE, University of Missouri- Kansas City—Heterodox Microeconomics and the Foundations of Heterodox Macroeconomics

WILLIAM T. GANLEY, Buffalo State College—The Micro Foundations of Veblen’s Theory of the Business Cycle

PETER DORMAN, Evergreen College—The Trade Account and Macro Aggregates

WILLIAM MILBERG, New School for Social Research—The Pricing-Investment Link Under Globalized Production: A Post Keynesian Perspective on U.S. Economic Hegemony

Discussants: TAE-HEE JO, University of Missouri- Kansas City

MICHELE NAPLES, The College of New Jersey

Jan. 6, 8:00 am

URPE/IAFFE

Borderlines: Gender and Migration (J6)

Presiding: MARY KING, Portland State University

LOURDES BENERÍA, Cornell University—Paid/Unpaid Work and the Globalization of Reproduction

ALICIA GIRÓN GONZÁLEZ and MA. LUISA GONZÁLEZ MARÍN, UNAM, Mexico—Women, Migration, and Economic Policy

PHILLIP J. GRANBERRY and ENRICO MARCELLI, University of Massachusetts-Boston—Mexican Immigrant Wages: Are Men’s and Women’s Social Capital Different?

ULLA GRAPARD, Colgate University—Immigration and the Danish Welfare State: Where are Women’s Voices?

Discussants: MARY KING, Portland State University

FARIDA C. KHAN, University of Wisconsin-Parkside

MARIA FLORO, American University

Jan. 6, 10:15 am

AAEA

New Frontiers in Water Resource Economics (Q2)

Presiding: ARIEL DINAR, World Bank

ALBERTO GARRIDO, Universidad Politécnica de Madrid--Designing Water Markets for Unstable Climatic Conditions: Learning from Experimental Economics

JAMES ROUMASSET and SITTIDAJ PONGKIJVORASIN, University of Hawaii-Manoa--Efficient Irrigation Management with Conveyance Losses, Canal Return Flows, Groundwater Recharge and Pollution

MASAHIKO GEMMA, Waseda University, and YACOV TSUR, Hebrew University of Jerusalem—The Stabilization Value of Groundwater and Conjunctive Management of Ground and Surface Water under Uncertainty

Discussant: YACOV TSUR, Hebrew University of Jerusalem

Jan. 6, 10:15 am

AEA

Penalties and Sanctions for Securities Fraud (Panel Discussion)

Presiding: CHESTER SPATT, Securities and Exchange Commission and Carnegie Mellon University

JOSEPH GRUNDFEST, Stanford University

ROBERTA ROMANO, Yale University

CHRISTOPHER SNYDER, Dartmouth College

Jan. 6, 10:15 am

AEA

The Economics of Human Development

Presiding: THOMAS SARGENT, New York University

JAMES J. HECKMAN, University of Chicago

Jan. 6, 10:15 am

AEA

Understanding Performance Heterogeneity between Firms: The Role of Organizational

Capabilities

Presiding: LUIS GARICANO, University of Chicago

JOHN SUTTON, London School of Economics—Competing in Capabilities

ROBERT GIBBONS and REBECCA HENDERSON, Massachusetts Institute of Technology—Organizational Capabilities: Persistent Performance Differences among Seemingly Similar Enterprises

LUIS GARICANO, University of Chicago—Organizational Capabilities: A Cognitive Perspective

Discussants: ROB GERTNER, University of Chicago

JOHN ROBERTS, Stanford University

JAN RIVKIN, Harvard University

Jan. 6, 10:15 am

AEA

Field Experiments in Pecuniary and Non-pecuniary Donations (C9)

Presiding: JAMES ANDREONI, University of California-San Diego

CRAIG LANDRY, East Carolina University, ANDREAS LANGE, University of Maryland and ZEW, JOHN LIST, University of Chicago, MICHAEL PRICE, University of Nevada-Reno, and NICHOLAS RUPP, East Carolina University—Is a Donor in Hand Better than 50 in the Bush? Evidence from a Natural Field Experiment on Charitable Giving

RACHEL CROSON, University of Pennsylvania, and JEN SHANG, Indiana University—Social Information and Charitable Contributions

DAN ARIELY, ANAT BRACHA, Massachusetts Institute of Technology, and STEPHAN MEIER, Federal Reserve Bank of Boston—Self-Identity, Reputation, and Incentives: Evidence from Field and Lab Experiments

ALOIS STUTZER, University of Basel, LORENZ GOETTE, Federal Reserve Bank of Boston, and MICHAEL ZEHNDER, University of Zurich—Active Decisions and Pro-social Behavior: A Field Experiment in Blood Donation

Discussants: COLIN CAMERER, California Institute of Technology

MARIANNE BERTRAND, University of Chicago

ROBERT FRANK, Cornell University

JAMES ANDREONI, University of California-San Diego

Jan. 6, 10:15 am

AEA

Contracts, Incentives and Cooperation Between and Within Firms

Presiding: NISVAN ERKAL, University of Melbourne

STEVEN WU and BRIAN ROE, Ohio State University—Discretionary Latitude and the Nature of Relational Contracting

SIMONA FABRIZI, Universidad del Pais Vasco, and STEFFEN LIPPERT, Research Institute of Industrial Economics—On Moral Hazard and Joint R&D

NISVAN ERKAL, University of Melbourne, and DEBORAH MINEHART, U.S. Department of Justice—Optimal Sharing Strategies in Dynamic Games of Research and Development

LUIS CABRAL, New York University, and DAVID SALANT, ERS Group—Evolving Technologies and Standardization

Discussants: DAVID HUFFMAN, Institute for the Study of Labor (IZA)

ETHAN LIGON, University of California-Berkeley

DEBORAH MINEHART, U.S. Department of Justice

JAY PIL CHOI, Michigan State University

Jay. 6, 10:15 am

AEA

Estimating Models of Consumer Decisions with Applications to Health (I1)

Presiding: DONNA GILLESKIE, University of North Carolina

JEROME ADDA, University College London—Smoking and Endogenous Mortality: Does Heterogeneity in Life Expectancy Explain Differences in Smoking Behavior

JOHN BOUND, University of Michigan, TODD STINEBRICKNER, University of Western Ontario, and TIMOTHY WALDMANN, Urban Institute—Health, Economic Resources, and the Work Decisions of Older Men

ANDREW CHING, University of Toronto, and FUMIKO HAYASHI, Federal Reserve Bank of Kansas City—Regulations in Nursing Home Markets: Estimation of a Competitive Model

AHMED KHWAJA, Duke University—Investment in Human Capital, Longevity and Moral Hazard in a Stochastic Life-Cycle Model of Demand

Discussants: DONNA GILLESKIE, University of North Carolina

PETER ARCIDIACONO, Duke University

HAN HONG, Duke University

JOHN RUST, University of Maryland

Jan 6, 10:15 am

AEA

U.S. Trade Deficits, the Dollar, and International Monetary Stability (Roundtable) (E5)

Presiding: DOMINICK SALVATORE, Fordham University

MARTIN FELDSTEIN, Harvard University—Why Such a Strong Dollar?

RONALD MCKINNON, Stanford University—Exchange Rates and Trade Balances under the Dollar Standard

ROBERT MUNDELL, Columbia University—The U.S. Deficit and the International Monetary System

MICHAEL MUSSA, Institute for International Economics—The Dollar and the Current Account Deficit: How Much Should We Sorry?

KENNETH ROGOFF, Harvard University—The Mirage of Fixed Exchange Rates Revisited

Jan. 6, 10:15 am

AEA

Housing and the Macro Economy (R1)

Presiding: STIJN VAN NIEUWERBURGH, New York University

FRANCOIS ORTALO-MAGNE, University of Wisconsin-Madison—The Political Economy of Housing Supply

EDWARD GLAESER, Harvard University, JOSEPH GYOURKO, University of Pennsylvania, and RAVEN SAKS, Harvard University—Urban Growth and Housing Supply

STIJN VAN NIEUWERBURGH and PIERRE-OLIVIER WEILL, New York University—Using Housing Prices to Measure the Welfare Cost of Housing Supply Regulation

Discussants: JOHN QUIGLEY, University of California-Berkeley

JONATHAN HEATHCOTE, Georgetown University

FRANCOIS ORTALO-MAGNE, University of Wisconsin-Madison

Jan. 6, 10:15 am

AEA

New Strategies for Teaching Economics Courses (A2)

Presiding: MICHAEL SALEMI, University of North Carolina-Chapel Hill

KENNETH G. ELZINGA, University of Virginia—Teaching the Dismal Science Socratically

GAIL HOYT, University of Kentucky—A Fresh Look at the Daily Quiz: Engaging Students in Principles Courses

WILLIAM C. WOOD, James Madison University—The Principles of Macroeconomics Class: Teaching Aggregate Thinking

Jan. 6, 10:15 am

AEA

Recent Developments in the Analysis of Exchange-Rate Pass-Through and Policy Implications (F4)

Presiding: MICHAEL B. DEVEREUX, University of British Columbia

MICHAEL B. DEVEREUX, University of British Columbia—Exchange Rate Policy and Endogenous Price Flexibility

GIANCARLO CORSETTI, European University Institute, LUCA DEDOLA, European Central Bank, and SYLVAIN LEDUC, Federal Reserve Board—DSGE Models of High Exchange-Rate Volatility and Low Pass-Through

CHRISTOPHER GUST, SYLVAIN LEDUC, and ROBERT VIGFUSSON, Federal Reserve Board—Trade Integration, Competition, and the Decline in Exchange-Rate Pass-Through

MATTHIEU BUSSIERE, European Central Bank—Exchange Rate Pass-Throughin the G-& Economies: The Role of Non-linearities and Asymmetries

Discussants: PHILIPPE BACCHETTA, University of Lausanne

CRAIG BURNSIDE, Duke University

ROBERT FEENSTRA, University of California-Davis

JOSEPH GAGNON, Federal Reserve Board

Jan. 6, 10:15 am

AEA

Globalization: Multinational Firm Organization and Value Creation (F2)

Presiding: ANN HARRISON, University of California-Berkeley

WILLIAM H. GREENE, New York University, ABIGAIL S. HORNSTEIN, Wesleyan University, LAWRENCE J. WHITE, and BERNARD Y. YEUNG, New York University—Multinationals Do It Better: Evidence on the Efficiency of Corporations’ Capital Budgeting

C. FRITZ FOLEY and YUHAI XUAN, Harvard Business School—Organizational Form and Firm Responses to Currency Depreciations

MINYUAN ZHAO, University of Michigan—Long-Distance Collaborations within Multinational Firms: Promoting Knowledge Flow or Facilitating Internalization

Discussants: BRUCE BLONIGEN, University of Oregon

SIMI KEDIA, Rutgers University

MEGAN MACGARVIE, Boston University

Jan. 6, 10:15 am

AEA

Monetary Systems: Transitions and Experiments (E4, N1)

Presiding: FRANÇOIS VELDE, Federal Reserve Bank of Chicago

WILL ROBERDS, Federal Reserve Bank of Atlanta, and STEPHEN QUINN, Texas Christian University—The Bank of Amsterdam

PETER ROUSSEAU, Vanderbilt University—Backing, the Quantity Theory, and the Transition to the Dollar, 1720-1850

JOHN JAMES, University of Virginia, and DAVID WEIMAN, Barnard College—Towards a More Perfect American Payments Union: The Civil War as a Political Economic Watershed

FRANÇOIS VELDE, Federal Reserve Bank of Chicago—John Law’s System: An Experiment in Public Finance in 18^th Century France

Jan. 6, 10:15 am

AEA

Sudden Stops (F3)

Presiding: MARCO TERRONES, International Monetary Fund

RICARDO CABALLERO, Massachusetts Institute of Technology, and STAVROS PANAGEAS, University of Pennsylvania—A Quantitative Model of Sudden Stops and External Liquidity Management

ENRIQUE MENDOZA, University of Maryland and NBER, and MARCO TERRONES, International Monetary Fund—Credit Booms in Emerging Economies: Myths and Facts

JOSHUA AIZENMAN, University of California-Santa Cruz, and JAEWOO LEE, International Monetary Fund—International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence

GEORGE ALESSANDRIA, Federal Reserve Bank of Philadelphia, and JOSEPH KABOSKI, Ohio State University—Reconsidering the Evidence of Relative PPP in Large Devaluations

Jan. 6, 10:15 am

AEA

Gender Implications of Social Welfare Policy Choices

Presiding: KATHARINE ABRAHAM, University of Maryland

VIRGINIA WILCOX-GÖK and RUPALI SURYAWANSHI, Northern Illinois University—Old, Poor, and Untreated? Demand for Prescription Drugs among Older Women in the United States

HOPE CORMAN, KELLY NOONAN, Rider University, NANCY E. REICHMAN, Robert Wood Johnson Medical School, and ANNE CARROLL, Rider University—Why Do Poor Mothers and Children Lose Health Insurance?

CATALINA AMUEDO-DORANTES, CYNTHIA BANSAK, San Diego State University, and STEVEN RAPHAEL, University of California-Berkeley—Are Migrant Men and Women an Economic Burden? Changes in the Utilization and Contribution to Public Benefits Surround the 1996 Welfare Reform

JONATHAN A. SCHWABISH, MICHAEL S. SIMPSON, and JULIE H. TOPOLESKI, Congressional Budget Office—Achieving Social Security Solvency: Implications for Men and Women

Discussants: AMITABH CHANDRA, Harvard University

LARA SHORE-SHEPPARD, Williams College

REBECCA BLANK, University of Michigan

RICHARD BURKHAUSER, Cornell University

Jan. 6, 10:15 am

AEA

Inaction and Adjustment: Consequences for Households and Firms

Presiding: ANDREW ABEL, University of Pennsylvania

ANDREW ABEL, University of Pennsylvania, and JANICE EBERLY, Northwestern University—Optimal Inattention

NICK BLOOM, Stanford University—Uncertainty and the Dynamics of R&D

SURESH SUNDARESAN and NENG WANG, Columbia University—Waiting to Invest in the Present of Jump Risk

Discussants: THOMAS PHILIPPON, New York University

JOHN HALTIWANGER, University of Maryland

BOB MCDONALD, Northwestern University

Jan. 6, 10:15 am

AEA

The Transparency of Political Institutions (D7)

Presiding: ERNESTO DAL BO, University of California-Berkeley

ALESSANDRO GAVAZZA, Yale University, and ALESSANDRO LIZZERI, New York University—The Public Finance of Transparency

GILAT LEVY, London School of Economics—Transparent Committees

ANDREAS MATTOZZI, California Institute of Technology, and ANTONIO MERLO, University of Pennsylvania—The Transparency of Politics and the Quality of Politicians

Jan. 6, 10:15 am

AEA

Biological Evolution and Economics (Z0)

Presiding: GARY S. BECKER, University of Chicago

THEODORE C. BERGSTROM, University of California-Santa Barbara—The Evolutionary Economics of Family Partnerships

LUIS RAYO and GARY S. BECKER, University of Chicago—Habits, Peers, and Happiness: An Evolutionary Perspective

ARTHUR J. ROBSON, Simon Fraser University, and HILLARD S. KAPLAN, University of New Mexico—Economics, Biology and Mortality

LARRY SAMUELSON, University of Wisconsin-Madison, and ARTHUR J. ROBSON, Simon Fraser University—The Evolutionary Basis of Impatience

Discussants: GARY S. BECKER, University of Chicago

KEITH CHEN, Yale University

JESSE SHAPIRO, University of Chicago

JEROEN SWINKELS, Washington University-St. Louis

Jan. 6, 10:15 am

AEA

Defense Economics: Theory and Applications (H5)

Presiding: CLAUDE BERREBI, RAND

PETER BERCK, University of California-Berkeley, and JONATHAN LIPOW, Academic College of Judea and Samaria—Military Conscription and the Socially Optimal Number of Boots on the Ground

DOTAN PERSITZ and DANIEL TSIDDON, Tel Aviv University—A Counter-Factual Analysis of Terrorism’s Effects on the Economy: The Case of Israel

JONATHAN LIPOW, Academic College of Judea and Samaria, and YAKIR PLESSNER, Hebrew University of Jerusalem—Dean “Machines” and Taxes

MICHAEL BEN-GAD, Haifa University, YAKOV BEN-HAIM, Israel Institute of Technology (Technion), and DAN PELED, Haifa University—Allocating Security Expenditures under Knightian Uncertainty: An Info-Gap Approach

Discussants: MARTIN MCGUIRE, University of California-Irvine

ROBERT POWELL, University of California-Berkeley

DONALD LOSMAN, National Defense University

CLAUDE BERREBI, RAND

MICHAEL INTRILIGATOR, University of California-Los Angeles

Jan. 6, 10:15 am

AEA

Beyond Drug and Hospital Costs: Comprehensive Accounting for Health Care (I1)

Presiding: STEVEN J. LANDEFELD, U.S. Bureau of Economic Analysis

ERNST BERNDT, Massachusetts Institute of Technology, and RICHARD G. FRANK, Harvard Medical School—Price and Quantity Growth in Mental Health Care

ALLISON ROSEN, University of Michigan—Revising and Expanding National Health Accounts

MICHAEL CHRISTIAN, U.S. Bureau of Economic Analysis—Measuring the Price and Output of Health Care Systems

JOSEPH NEWHOUSE, Harvard University—Pricing, Information, and Efficiency in the Medical Care Sector

Discussants: JACK TRIPLETT, Brookings Institution

DAVID MELTZER, University of Chicago

Jan. 6, 10:15 am

AEA/IHEA

Health and Development in the Developed and Developing Worlds

Presiding: KENNETH CHAY, University of California-Berkeley

CHRISTINA PAXSON, Princeton University and NBER, and NORBERT SCHADY, World Bank—Income Transfers and Children’s Health and Development: Evidence from Ecuador

MARK ROSENZWEIG, Yale University and NBER—Underdevelopment and Health: Indoor Air Pollution in South Asia

JANET CURRIE, Columbia University and NBER—Healthy, Wealthy and Wise? The Relationship between Health and Human Capital

MICHAEL GROSSMAN, City University of New York and NBER, SHIN YI-CHOU, Lehigh University and NBER, INAS RASHAD, George State University and NBER, and HENRY SAFFER, Kean University and NBER—The Economics of Obesity

Discussants: EDWARD MIGUEL, University of California-Berkeley

ADRIAN LLERAS-MUNEY, Princeton University

HOYT BLEAKLEY, University of Chicago

AMY FINKELSTEIN, Massachusetts Institute of Technology

Jan. 6, 10:15 am

AEA/NEA

Globalization and Economic Outcomes for Minority Groups

Presiding: JAMES PEOPLES, University of Wisconsin-Milwaukee

ELIZABETH ASIEDU, University of Kansas—The Impact of Globalization on Minority-Owned Businesses

DEBORAH REED, Public Policy Institute of California, and SHELDON DANZIGER, University of Michigan—The Effects of Globalization and Other Factors on Racial/Ethnic Wage Gaps in the United States

ABERA GELAN, University of Wisconsin-Milwaukee, KAYE HUSBANDS-FEALING, Williams College, and JAMES PEOPLES, University of Wisconsin-Milwaukee—Foreign Direct Investment and Racial Employment Patterns

PAUL ONG, University of California-Los Angeles—The Impact of Immigration on the Black/NH-White Employment Ratio

Discussants: JOHN BITZAN, North Dakota State University

MAURY GRANGER, Jackson State University

LISA SAUNDERS, University of Massachusetts-Amherst

RICHARD MCGREGORY, University of Wisconsin-Whitewater

Jan. 6, 10:15 am

AFA

Equity Volatility and Leverage

Presiding: DARRELL DUFFIE, Stanford University

HAZEM DAOUK and DAVID NG, Cornell University—Is Unlevered Firm Volatility Asymmetric?

HARJOAT SINGH BHAMRA, University of British Columbia, and RAMAN UPPAL, London Business School—The Effect of Introducing a Non-Redundant Derivative on the Volatility of Stock-Market Returns

ABDULLAH C. AYDEMIR, Lehman Brothers, MICHAEL F. GALLMEYER, Texas A&M University, and BURTON HOLLIFIELD, Carnegie Mellon University—Financial Leverage Does Not Cause the Leverage Effect

Discussants: JUN PAN, Massachusetts Institute of Technology

LEONID KOGAN, Massachusetts Institute of Technology

JESSICA WACHTER, University of Pennsylvania

Jan. 6, 10:15 am

AFA

Behavioral Approaches to Asset Pricing

Presiding: NICHOLAS BARBERIS, Yale University

LAUREN COHEN, Yale University, and ANDREA FRAZZINI, University of Chicago—Economic Links and Predictable Returns

SHLOMO BENARTZI, University of California-Los Angeles, RONI MICHAELY, Cornell University, RICHARD H. THALER, University of Chicago, and WILLIAM CHARLES WELD, Cornell University—The Nominal Price Puzzle

KEWEI HOU, Ohio State University, LIN PENG, City University of New York, and WEI XIONG, Princeton University—A Tale of Two Momentum Anomalies: The Dual Role of Investor Attention

Discussants: JONATHAN LEWELLEN, Dartmouth College

OWEN LAMONT, Yale University

KENT DANIEL, Goldman Sachs Group, Inc.

Jan. 6, 10:15 am

AFA

Mutual Fund Organizations

Presiding: DANIEL BERGSTRESSER, Harvard University

AJAY KHORANA, Georgia Institute of Technology, PETER TUFANO, Harvard University, and LEI WEDGE, Georgia Institute of Technology and University of South Florida—Board Structure, Mergers and Shareholder Wealth: A Study of the Mutual Fund Industry

JEROLD B. WARNER and JOANNA SHUANG WU, University of Rochester—Changes in Mutual Fund Advisory Contracts

MASSIMO MASSA, INSEAD, JONATHAN REUTER, University of Oregon, and ERIC ZITZEWITZ, Stanford University—The Rise of Teams in Fund Management

Discussants: RICHARD EVANS, Boston College

DANIEL DELI, Arizona State University

CAMELIA KUHNEN, Stanford University

Jan. 6, 10:15 am

AFA

Trading and Information in Markets

Presiding: MAUREEN O’HARA, Cornell University

DELPHINE SABOURIN, Université Paris IX Dauphine—Are Designated Market Makers Necessary in Centralized Limit Order Markets?

PAOLO PASQUARIELLO, University of Michigan-Ann Arbor, and CLARA VEGA, University of Rochester—Informed and Strategic Order Flow in the Bond Market

DIEGO AGUDELO, Indiana University-Bloomington—Do Local or Foreign Traders Know More in an Emerging Market? A Possible Solution to the Puzzle

Discussants: LAWRENCE GLOSTEN, Columbia University

ERIK SIRRI, Babson College

GIDEON SAAR, Cornell University

Jan. 6, 10:15 am

AFA

Corporate Investment and Capital Structure

Presiding: JOHN GRAHAM, Duke University

MURILLO CAMPELLO, University of Illinois-Urbana-Champaign, and ZSUZSANNA FLUCK, Michigan State University—Product Market Performance, Switching Costs, and Liquidation Values: The Real Effects of Financial Leverage

EVGENY LYANDRES, Rice University, and ALEXEI ZHDANOV, George Mason University—Underinvestment or Overinvestment: The Effects of Financial Leverage on Investment

TOR-ERIK BAKKE and TONI M. WHITED, University of Wisconsin-Madison—Which Firms Follow the Market? An Analysis of Corporate Investment Decisions

MICHAEL R. ROBERTS, University of Pennsylvania, and SUDHEER CHAVA, University of Houston—Is Financial Contracting Costly? An Empirical Analysis of Debt Covenants and Corporate Investment

Discussants: GORDON PHILLIPS, University of Maryland

DAVID MAUER, Southern Methodist University

MALCOLM BAKER, Harvard University

JOSHUA RAUH, University of Chicago

Jan. 6, 10:15 am

AREUEA

Bubbles & Bias

Presiding: PATRIC HENDERSHOTT, University of Aberdeen and San Diego State University

MARK Y. AN, ANDRE GAO, ERIC ROSENBLATT, and YEVGENY YUZEFOVICH, Fannie Mae--Appraisal Bias: Patterns and Premises

BRENT AMBROSE, Pennsylvania State University, and PIET EICHHOLTZ, Maastricht University--Do House Price “Bubbles” Really Occur?

EDWARD COULSON, Pennsylvania State University, and DANIEL MCMILLEN, University of Illinois-Chicago--Identifying Temporal Effects In Hedonic Models of House Prices

ALLEN C. GOODMAN, Wayne State University, and THOMAS G. THIBODEAU, University of Colorado--Where is the Speculative Bubble in US House Prices?

Discussants: To be announced.

Jan. 6, 10:15 am

AREUEA

Models of REIT Behavior

Presiding: JIM CLAYTON, Pension Real Estate Association

JINLIANG JACK LI, ROBERT M. MOORADIAN, and SHIAWEE X. YANG, Northeastern University--Conditional Expectation and the Variability of Equity REIT Returns

ZHONGHUA WU, Florida International University--Implications of Bank Mergers on Industrial Market Structure: Evidence from Real Estate Investment Trusts

ROBERT EDELSTEIN, University of California-Berkeley, ANTONI SUREDA-GOMILA, BRANKO UROSEVIC, Universitat Pompeu Fabra, and NICHOLAS WONDER, Western Washington University--Ownership Dynamics with Multiple Insiders: The Case of REITs

DENNIS CAPOZZA and RYAN ISRAELSEN, University of Michigan--Price Dynamics in Liquid Markets: Evidence from REITS

Discussants: SHAUN BOND, University of Cambridge
MILENA PETROVA, Syracuse University
JAY HARTZELL, University of Texas-Austin
ROBERT NOVY-MARX, University of Chicago

Jan. 6, 10:15 am

AREUEA/AFA

Recent Developments in Mortgage Financing

Presiding: MARK J. FLANNERY, University of Florida

RAPHAEL BOSTIC, YONGHENG DENG, and STUART GABRIEL, University of Southern California--The Impact of a Growing CDO Market on the Residential Mortgage Lending

SUSAN WACHTER, University of Pennsylvania--Mortgage Finance, the New Segmentation

MICHAEL LACOUR-LITTLE, California State University-Fullerton--The Pricing of Mortgages by Brokers: An Agency Problem?

CHRISTOPHER DOWNING, Rice University, and NANCY E. WALLACE, University of California-Berkeley --The Determinants of Security Design in the CMBS Market

Discussants: JEAN HELWEGE, Pennsylvania State University

MICHAEL FRATANTONI, Mortgage Bankers Association

CROCKER LIU, Arizona State University

PETER DEMARZO, Stanford University

Jan. 6, 10:15 am

ACES

Changes in Incentives and Organizational Performance (J3)

Presiding: DEREK C. JONES, Hamilton College

DEREK C. JONES, Hamilton College, PANU KALMI, and ANTTI KAUHANEN, Helsinki School of Economics and HECER, Helsinki--Teams, Performance-Related Pay, Profit Sharing and Productive Efficiency: Evidence from a Food-Processing Plant

EDWARD P. LAZEAR, Stanford University, Hoover Institution and Council of Economic Advisors, and KATHRYN SHAW, Stanford University--The Effects of Tenure on Output

TOR ERIKSSON, Aarhus School of Business, Denmark, and JAIME ORTEGA, Universidad Carlos III de Madrid and Center for Corporate Performance, Denmark--Is Performance Pay Changing Employees’ Private Lives?

JOHN S. HEYWOOD, University of Wisconsin, Milwaukee, UWE JIRJAHN, University of Hannover, and XIANGDONG WEI, Lingnan College--Teamwork, Monitoring, Absence and Productivity

Discussants: AVNER BEN-NER, University of Minnesota

ERIK POUTSMA, Radboud University Nijmegen

RICHARD FREEMAN, Harvard University and London School of Economics and Political Science

VIRGINIE PEROTIN, Leeds School of Business

Jan. 6, 10:15 am

AFEE

Institutional Perspectives on Macroeconomic Policies (E1)

Presiding: CHARLES WHALEN, Perspectives on Work

FADHEL KABOUB, Drew University--Institutional Adjustment Planning for Full Employment

ZDRAVKA TODOROVA, Wright State University--Institutional Analysis of Deficits and Theorizing

about Households and the State

DAVID ZALEWSKI, Providence College--Alan Greenspan’s Legacy: Is There Anything for

Institutionalists to Like?

ERIC TYMOIGNE, California State University-Fresno--Asset Prices, Financial Fragility, and

Central Banking

YAN LIANG, University of Missouri-Kansas City--Sending Jobs to China: An Efficiency or

Equality Concern?

Discussant: JAMES K. GALBRAITH, University of Texas-Austin

Jan. 6, 10:15 am

AFEE

Environmental Theory, Problems and Policies (Q2)

Presiding: STEVEN BOLDUC, Minnesota State University-Moorhead

MARK HAGGERTY and STEPHANIE A. WELCOMER, University of Maine--Tied to the Past - Bound to the Future: Ceremonial Encapsulation in a Maine Woods Land Use Policy Debate

THAMIR M. SALIH, Kutztown University of Pennsylvania—Old Concepts, New Perspectives on

Oil: An Application to Iraq’s Development

DENIS BARTHELEMY, Institut National de la Recherche Agronomique, MARTINO NIEDDU, Universite de Reims, FRANCK-DOMINIQUE VIVIEN, Universite de Reims--Non-Trade Concerns in Agricultural and Environmental Economics: How Can Commons and Polanyi Help Us?

RACHEL HILLIARD, DON GOLDSTEIN, and VALERIE PARKER, NUI, Galway, Ireland--Environmental Technology, Dynamic Environmental Capabilities and Competiveness

SEBASTIAN BERGER, University of Sorbonne, Paris, and MATHEW FORSTATER, University of Missouri-Kansas City--The Significance of Kapp’s Social Cost Theory and Lowe’s Instrumental Analysis for Environmental Policy

Discussant: TERREL GALLAWAY, Missouri State University

Jan. 6, 10:15 am

ASE

Globalization, Governance, and Oil

Presiding: JOHN P. TIEMSTRA, Calvin College

SEDA EKMEN, Middle East Technical University, Turkey, and EMRE OZCELIK, Anadolu University, Turkey--Global Governance Model as the Enemy of Socio-Economic Sustainability

FRED CURTIS, Drew University--Relocalization in Response to Global Warming and Peak Oil

ALAN HUTTON, Glasgow Caledonian University--Environmental Sustainability, Fuel Poverty and National Security of Supply

FAITH U. ONONOGBO, Lion of Africa Insurance Company, Nigeria--Income Inequality, Oil Exploitation, and Environmental Degradation in the Niger Delta Region of Nigeria

Discussant: JOHN MARANGOS, Colorado State University

Jan. 6, 10:15 am

ASGE/IAFFE

Gender Issues and the Welfare State (H5)

Presiding: JANOS HORVATH, Budapest University of Economic Sciences

EUNYOUNG CHOI, Chungbuk National University—What’s for the Welfare State? Market Work, Care Work, and Women in Korea

LISE WIDDING ISAKSEN and SUSAN SAVIDES, University of Bergen—Transnational Health Care Workers in Norway: Local Adjustments and Integration Strategies

GANNA GERASYMENKO, Institute for Demography and Social Studies—Gender Disparities of Aging in the Context of Social Care Services in Ukraine

Discussants: RANDY ALBELDA, University of Massachusetts-Boston

AGNETA STARK, Dalarna University, Sweden

Jan. 6, 10:15 am

AERE

Joint Estimation and Environmental Valuation Ten Years Later (Q5)

Presiding: JOHN C. WHITEHEAD, Appalachian State University

ROGER H. VON HAEFEN and DANIEL J. PHANEUF, North Carolina State University--Using RP Data with Alternative Specific Constants and SP Choices to Identify Preferences in RUM Models

V. KERRY SMITH, Arizona State University, NICOLAI KUMINOFF, North Carolina State University and Virginia Polytechnic Institute, SUBRENDU K. PATTANAYAK, and GEORGE VAN HOUTVEN, RTI International--Data Combination for Calibration, Estimation, and Benefit Transfer

KEVIN J. EGAN, University of Toledo, JOSEPH A. HERRIGES, JOHN DOWNING, and CATHERINE L. KLING, Iowa State University--Combining Revealed Preference and Stated Preference Data without Invoking the Weak Complementarity Condition

WILLIAM BREFFLE, Stratus Consulting Inc., EDWARD MOREY, University of Colorado-Boulder, and JENNIFER THACHER, University of New Mexico--Combining Attitudinal and Choice Data to Improve Estimates of Preferences and Preference Heterogeneity: A FIML, Discrete-Choice, Latent-Class Model

Discussants: TRUDY CAMERON, University of Oregon

VICTOR ADAMOWICZ, University of Alberta

JORDAN LOUVIERE, University of Technology, Sydney

Jan. 6, 10:15 am

CES

Understanding the Mechanism of China’s Economic Growth (F4)

Presiding: HENRY WAN, JR., Cornell University

BELTON FLEISHER, Ohio State University, HAIZHENG LI, Georgia Institute of Technology, and MIN QIANG ZHAO, Ohio State University—Capital, Economic Growth, and Regional Inequality in China

CHERYL XIAONING LONG, Colgate University and Stanford University, and GALINA HALE, Yale University--Do FDI Inflows Increase Productivity? The Case of China

DANI RODRIK, Harvard University--What's so Special about China's Exports?

BIN XU, China Europe International Business School—Explaining China’s Export Sophistication

Discussants: CHERYL XIAONING LONG, Colgate University and Stanford University

HAIZHENG LI, Georgia Institute of Technology

BIN XU, China Europe International Business School

DANI RODRIK, Harvard University

Jan. 6, 10:15 am

Monetary Theory and Evidence

Presiding: ROBERT E. LUCAS, University of Chicago

PEDRO TELES, Universidade Catolica Portuguesa and Banco de Portugal, and HARALD UHLIG, Humboldt University of Berlin--Is Quantity Theory Still Alive?

SAMUEL REYNARD, Swiss National Bank--Avoiding Drifting Away from Low Inflation: Money, Interest Rates, and Monetary Policy Stance

FERNANDO ALVAREZ, University of Chicago and NBER, and FRANCESCO LIPPI, Bank of Italy and CEPR--Financial Innovation and the Transactions Demand for Cash

Discussants: EDWARD NELSON, Federal Reserve Bank of St. Louis

ROBERT E. LUCAS, University of Chicago

Jan. 6, 10:15 am

Financing Constraints and Aggregate Economy

Presiding: NOBUHIRO KIYOTAKI, Federal Reserve Bank of New York and London School of Economics

ANDREA EISFELDT and ADRIANO RAMPINI, Northwestern University--New or Used? Investment with Credit Constraints

URBAN JERMANN, University of Pennsylvania, and VINCENZO QUADRINI, University of Southern California--Financial Innovations and Macroeconomic Volatility

ALESSANDRO CALZA, European Central Bank, TOMMASO MONACELLI, IGIER, Università Bocconi and CEPR, and LIVIO STRACCA, European Central Bank--Mortgage Markets, Collateral Constraints and Monetary Policy: Do Institutional Factors Matter?

NOBUHIRO KIYOTAKI, Federal Reserve Bank of New York and London School of Economics, and ALEXANDER MICHAELIDES, London School of Economics--From Shirtsleeves to Shirtsleeves in a Long Lifetime

Jan. 6, 10:15 am

Ambiguity and Disagreement

Presiding: PETER KLIBANOFF, Northwestern University

DAVID AHN, University of California-Berkeley, and HALUK ERGIN, Massachusetts Institute of Technology--Unawareness and Framing

DARON ACEMOGLU, VICTOR CHERNOZHUKOV, and MUHAMET YILDIZ, Massachusetts Institute of Technology--Learning and Disagreement in an Uncertain World

MARIE-LOUISE VIERO, Cornell University--Exactly What Happens After the Anscombe-Aumann Race? Representing Preferences in Vague Environments

ERAN HANANY, Tel Aviv University, and PETER KLIBANOFF, Northwestern University--Updating Preferences with Multiple Priors

Jan. 6, 10:15 am

Trade and Productivity

Presiding: FABRIZIO PERRI, University of Minnesota

DAVID BENJAMIN, University of Southampton, and FELIPE MEZA, Universidad Carlos III--Manufactured TFP Drops

SANGEETA PRATAP, Hunter College, and CARLOS URRUTIA, Instituto Tecnologico Autonoma de Mexico--Credit Constraints, Firm Dynamics and the Transmission of External Financial Shocks

TIMOTHY J. KEHOE, University of Minnesota and Federal Reserve Bank of Minneapolis, and KIM J. RUHL, University of Texas--Sudden Stops, Sectoral Reallocations, and Real Exchange Rates

LAURA ALFARO, Harvard University, AREENDAM CHANDA, Louisiana State University, SEBNEM KALEMLI-OZCAN, University of Houston and NBER, and SELIN SAYEK, Bilkent University--How Does Foreign Direct Investment Promote Economic Growth?

Jan. 6, 10:15 am

Measuring Welfare Gains

Presiding: FEDERICO RAVENNA, University of California-Santa Cruz

KENICHI UEDA, International Monetary Fund, and ROBERT M. TOWNSEND, University of Chicago—Welfare Gains of Financial Liberalization

SANJAY K. CHUGH and DAVID M. ARSENEAU, Federal Reserve Board—Optimal Fiscal and Monetary Policy with Costly Wage Bargaining

EVAN W. ANDERSON, Northern Illinois University, LARS PETER HANSEN, University of Chicago and NBER, and THOMAS J. SARGENT, New York University and NBER—Small Noise Methods for Risk Sensitive/Robust Economies

FEDERICO RAVENNA, University of California-Santa Cruz—Inflation Targeting and the Great Moderation

Discussants: LUCA SESSA, Banca d'Italia and Universitat Pompeu Fabra

KESHAB BHATTARAI, University of Hull

Jan. 6, 10:15 am

EHA

Technical Change in Historical Perspective

Presiding: JEREMY ATACK, Vanderbilt University

MICHELLE ALEXOPOULOS and JON COHEN, University of Toronto—Believe It or Not! The 1930s Was a Technologically Progressive Decade

ALEXANDER J. FIELD, Santa Clara University—The Origins of U.S. Productivity Growth in the Golden Age

TODD C. NEUMANN, University of Arizona—Labor Demand and the Production of Retail Service in the Early 20^th Century: The Automobile and Radio as Factor Based Technological Innovations

WILLIAM H. PHILLIPS, University of South Carolina—Capital Intensity in Cotton Gin Manufacturing: The Postbellum Revival of the Southern Industry

Discussants: ALEXANDER J. FIELD, Santa Clara University

JEREMY ATACK, Vanderbilt University

WERNER TROESKEN, University of Pittsburgh

ROBERT MARGO, Boston Universitsy

Jan. 6, 10:15 am

ESA

Experimental Political Economy (C9)

Presiding: TIM SALMON, Florida State University

CHARLES BARRILLEAUX, JUSTIN ESAREY, and TIM SALMON, Florida State University--What Motivates Political Preferences? Self-Interest, Ideology, and Fairness in a Laboratory Democracy

JACOB K. GOEREE and LEEAT YARIV, California Institute of Technology--Evaluating the Effects of Informing the Electorate: A Laboratory Study

ALESSANDRA CASSELLA, Columbia University, THOMAS PALFREY, Princeton University, and RAYMOND RIEZMAN, University of Iowa--Minorities and Storable Votes

DANIEL HOUSER and THOMAS STRATMANN, George Mason University--Selling Favors in the Lab: Experiments on Campaign Finance Reform

Discussants: GARY BOLTON, Pennsylvania State University

DAVID COOPER, Case Western Reserve University

JOHN LIGHTLE, Ohio State University

YAN CHEN, University of Michigan

Jan. 6, 10:15 am

HES

Chicago Economics in Historical and Philosophical Perspective (B2)

Presiding: STEVE MEDEMA, University of Colorado-Denver

ROSS B. EMMETT, Michigan State University--Did the Chicago School Reject Frank Knight?

DEIRDRE MCCLOSKEY, University of Illinois-Chicago--Good Old Chicago and Ethics

DAVID M. LEVY, George Mason University, and SANDRA PEART, Baldwin-Wallace College--George Joseph Stigler: The Enduring Contribution

ERIC SCHLIESSER, Syracuse University and Leiden University--Friedman, Positive Economics, and the Chilean Chicago Boys

Discussants: PHILIP E. MIROWSKI, Notre Dame University

DANIEL HAMMOND, Wake Forest University

Jan. 6, 10:15 am

IOS

Recent Developments in Antitrust Analysis (L4)

Presiding: JOHN KWOKA, Northeastern University

YONGMIN CHEN, University of Colorado-Boulder--Dynamic Price Discrimination with Asymmetric Firms

MARTIN GAYNOR, Carnegie Mellon University--A Competition Index for Differentiated Product Oligopoly with an Application to Hospitals

JOSEPH HARRINGTON, Johns Hopkins University--Modeling the Birth and Death of Cartels with an Application to Evaluating Antitrust Policy

SIMON WILKIE, University of Southern California--The Wholesale Market for Network Circuits: Network Topology and Market Definition

Discussants: JAMES DANA, Northwestern University.

WILLIAM ENCINOSA, Agency for Healthcare Research and Quality.

STEPHEN MARTIN, Purdue University.

JOHN KWOKA, Northeastern University.

Jan. 6, 10:15 am

IAEE

Current Issues in Energy Economics and Energy Modeling (Q4)

Presiding: CAROL DAHL, Colorado School of Mines

ALIREZA TEHRANI NEJAD M. and VALÉRIE SAINT-ANTONIN, Institut Francais du Pétrole--Allocation of CO₂ Emissions in Petroleum Refineries to Petroleum Joint Products: A Case Study

LESTER C. HUNT, University of Surrey, and FREDERICK L. JOUTZ, George Washington University--Modeling Underlying Trends in OECD Energy Demand: Deterministic Vs. Stochastic?

BENJAMIN F. BLAIR and JON P. REZEK, Mississippi State University--The Effects of Hurricane Katrina on Price Pass – Through in Gulf Coast Gasoline Markets

YOUNGHO CHANG and QIYAN ONG, National University of Singapore--Consumption Efficiency and Deregulated Electricity Market

Discussants: DONALD A. HANSON, Argonne National Laboratory

CLIFTON T. JONES, Stephen F. Austin State University

YOUNG YOO, Federal Energy Regulatory Commission

LYNNE KIESLING, Northwestern University

Jan. 6, 10:15 am

IAFFE

Gender, China, and the WTO (P3)

Presiding: XIAO-YUAN DONG, University of Winnipeg

GUNSELI BERIK, University of Utah--China’s Economic Transformation and Feminist Economics

GALE SUMMERFIELD, University of Illinois-Urbana-Champaign--Rural Development and Gender Realities in China: A Case Study of Population Control and Land Rights Reforms in Northern Liaoning

XIAO-YUAN DONG, University of Winnipeg--Economic Restructuring and Gender Differences inProductivity and Wages: Evidence from China’s Industrial Enterprises

YANA VAN DER MEULEN RODGERS, Rutgers University—Structural Change and Competition with China: Implications for Female Workers in Cambodia’s Textiles and Garment Industries

Discussants: JOYCE JACOBSEN, Wesleyan University

JAMES W. HUGHES, Bates College

Jan. 6, 10:15 am

ITFA

Current Issues in Globalization (F0)

Presiding: JOHN T. EVANS, Long Island University

DRUSILLA BROWN, HENRIETTA LAKE, and ADAM BUNNELL, Tufts University—Human Resource Management Practices and Apparel Factory Performance in Global Supply Chains

ARNAB K. BASU and ROBERT HICKS, College of William and Mary—Label Transparency and the Willingness-to-Pay: Do Fair Trade Campaigns Efficiently Value Public Goods?

STEVEN SURANOVIC, George Washington University—Can Fair Trade Product Promotion Sustain Higher Wages?

DON P. CLARK, University of Tennessee -- Distance and Intraindustry Trade

Discussants: JUDITH M. DEAN, U.S. International Trade Commission

GIOVANNI FACCHINI, University of Illinois

NANCY CHAU, Cornell University

WENDY TAKACS, University of Maryland-Baltimore County

Jan. 6, 10:15 am

KAEA

Topics in Empirical Labor Economics (J2)

Presiding: DONGHOON LEE, New York University

CHEOLSUNG PARK, National University of Singapore--Marriage Market, Parents’ Bargaining Powers, and Children’s Nutrition and Education

YONGIL JEON, Central Michigan University, SANG-YOUNG RHYU, Yonsei University, and MICHAEL SHIELDS, Central Michigan University--Asian Demographic Transition and Relative Cohort Size: An Instrumental Variables Panel Approach

SANGHOON LEE, University of British Columbia-- The Timing of Signaling: To Study in High School or in College

HYEOK JEONG and YONG KIM, University of Southern California--Complementarity and Transition to Modern Economic Growth

Discussants: SANG-YOUNG RHYU, Yonsei University

HYEOK JEONG, University of Southern California

DONGHOON LEE, New York University

YONGSUNG CHANG, Seoul National University

Jan. 6, 10:15 am

LERA

Labor and Employment Issues for Activated and Returning Military Personnel

Presiding: BRIAN CLAUSS, Arbitrator/Mediator/Attorney

IGNAICO MARAMBA, Maramba & Associates--The Activated Soldier and Advice to Employers

LUIS MARTINEZ, Cook County Bureau of Human Resources--Best Practices for the Activated and Returning Military

SEAN SMOOT, Policeman’s Benevolent and Protective Association--The Activated Military and the Labor Perspective

RODNEY DRISCOLL, Favaro & Gorman, Ltd.--Tax and Benefit Implications of Military Activation

TOM AIELLO, Monster Military--Helmets to Hardhats

Jan. 6, 10:15 am

LERA

Future of Retirement Income Security: Selections from the 2007 LERA Research Volume

Presiding: SHARON HERMES, U.S. Government Accountability Office

BETH ALMEIDA, International Association of Machinists and Aerospace Workers--Multiemployer Plans: Plan Design for the Future

JEFFREY WENGER, University of Georgia--Health Insurance and Older Workers’ Labor Force Participation

RON BLACKWELL, AFL-CIO--Unions and Pensions

CHRISTIAN WELLER, Center for American Progress, and TERESA GHILARDUCCI, University of Notre Dame--Policies for America’s Retirement Future: What Role Should the Employer Have?

Discussants: DOUG ORR, Eastern Washington University

TODD ELDER, University of Illinois-Urbana-Champaign

Jan. 6, 10:15 am

LERA

The Politics of Evaluation: Lessons from the Evaluations of Workplace Dispute Resolution

Programs

Presiding: ARTHUR PEARLSTEIN, Creighton University

DAVID LEWIN, University of California-Los Angeles--ADR Outcomes and Political Implications

LISA B. BINGHAM, Indiana University--The Top Ten Political Problems in Evaluating Workplace Programs

DAVID LIPSKY, ARIEL AVGAR, and RONAL L. SEEBER, Cornell University--The Politics of Evaluating Workplace Dispute Resolution Programs: Perspectives from the Public Sector

Discussants: MARY ROWE, Massachusetts Institute of Technology

OLIVER QUINN, Prudential Financial

Jan. 6, 10:15 am

MEEA

Savings, Social Security, and Poverty (D9, H5, I3, O1)

Presiding: AYLIN SECKIN, Istanbul Bilgi University, Turkey

JEHAD YASIN, Fort Valley State University--Demographic Structure and Private Savings: Some Evidence from Emerging Markets

H. YIGIT AYDEDE, University of Delaware--Saving, Public Social Security and Life-Cycle Theory: New Evidence from An Emerging Country, Turkey

MARCO MISSAGLIA, Università degli Studi di Pavia, Italy, and PAUL DE BOER, Erasmus University, Rotterdam--Poverty and Income Distribution Analysis in Palestine: Linking a Micro-Simulation and a Computable General Equilibrium Model

A. BENHABIB and T. ZIANI, University of Tlemcen, Algeria--The Analysis of Poverty Dynamics in Algeria: A Multidimensional Approach

MASOULD NILI, Sharif University of Technology, Iran—Addressing the Growth Failure of the Oil Exporting Countries: The Role of Government Activities

Discussants: SAZIYE GAZIOGLU, Middle East Technical University, Turkey, and University of Aberdeen

FATMA DOGRUEL, Marmara University, Turkey

DOAA M. SALMAN, October University of Modern Science and Arts, Egypt

YOUSRA HAMED, International Labor Organization

MEHMET SERKAN TOSUN, West Virginia University

Jan. 6, 10:15 am

NABE

International Capital Flows: Measurement, Implications, and Policy Analysis

Presiding: CATHERINE L. MANN, Brandeis University and Institute for International Economics

MENZIE D. CHINN, University of Wisconsin--Is There a “Global Savings Glut”?

BRAD SETSER, Roubini Global Economics and University College, Oxford--Debtor-Creditor Discrepancy in Official Financing

JOHN H. ROGERS, Federal Reserve Board, and CHARLES ENGEL--The U.S. Current Account Deficit and the Expected Share of World Output

RICARDO CABALLERO, EMANUEL FARHI, Massachusetts Institute of Technology, and PIERRE-OLIVIER GOURINCHAS, University of California-Berkeley--An Equilibrium Model of Global Imbalances and Low Interest Rates

Discussants: CATHERINE L. MANN, Brandeis University and Institute for International Economics

ANNA WONG, University of Chicago and Institute for International Economics

Jan. 6, 10:15 am

NAEE/NCEE

High School Economics: Issues in Teaching and Student Outcomes (A2)

Presiding: WILLIAM BOSSHARDT, Florida Atlantic University

DAVID M. LANG, California State University-Sacramento--Using Box Office Revenues in the Economics Classroom: An Experiment

MICHAEL C. KIMMITT and KIMBERLY M. BURNETT, University of Hawaii-Manoa--Determinants of Success in High School Economics: Lessons from the Field

CHIARA GRATTON-LAVOIE and ANDREW GILL, California State University-Fullerton--Retention of High School Economics Knowledge and the Effect of the California State Mandate

ALISON BUTLER, Willamette University--The Illusion of Objectivity: Implications for What and How We Teach Economics

Discussants: MARY SUITER, University of Missouri-St. Louis

TOM SMITH, University of Illinois-Chicago

RICHARD C. SCHIMING, Minnesota State University-Mankato

SUE LYNN SASSER, University of Central Oklahoma

Jan. 6, 10:15 am

NAFE

Forensic Economics III (K4)

Presiding: DWIGHT STEWARD, Econ One Research Group

DAVID H. CISCEL, University of Memphis--Hidden Perils of Calculating the Present Value of Life Care Plans

PATRICK L. ANDERSON, ILHAN K. GECKIL, and NICOLE FUNARI, Anderson Economic Group LLC--Essential Factors in Business Valuation and Commercial Damages

ARTHUR A. EUBANK, JR., Eubank Economics, Inc., and DAVID G. TUCEK, Value Economics--Expert Economic Testimony: Similarities and Differences in Regulatory and Civil Litigation Proceedings

Discussants: MARC A. WEINSTEIN, Team Economics

WILLIAM M.G. PEARSON, Spectrum Economics

CARL F. LUFT, DePaul University

Jan. 6, 10:15 am

NAEFA

International Finance (F3)

Presiding: GEORGE G. KAUFMAN, Loyola University Chicago

GEORGE M. VON FURSTENBERG, Indiana University--“The Economics of Offshore Financial Services and the Choice of Tax, Currency, and Exchange Rate Regimes

ALEXANDER J. KONDONASSIS, University of Oklahoma, and ANASTASIOS G. MALLIARIS, Loyola University of Chicago--The Global Monetary System and the Role of Global Currencies

MUHAMMAD MUSTAFA, South Carolina State University, and MATIUR RAHMAN, McNeese State University--Bilateral Trade with the U.S. and Exchange Rate Dynamics: Evidence from India, Japan, Malaysia, S. Korea and Thailand

RYAN STEVER and JAMES A. WILCOX, University of California-Berkeley--Regulatory Discretion and Banks’ Pursuit of “Safety in Similarity”

Discussants: ROBERT DEYOUNG, Federal Deposit Insurance Corporation

KWAN KIM, University of Notre Dame

LUCJAN ORLOWSKI, Sacred Heart University

Jan. 6, 10:15 am

SGE

Issues in Financial Markets

Presiding: MIKE PIWOWAR, U.S. Securities and Exchange Commission

BAHATTIN BUYUKSAHIN and MICHAEL S. HAIGH, U.S. Commodity Futures Trading Commission--Error Trades in Futures Markets

CONRAD CICCOTELLO, JASON GREENE, Georgia State University, and LORI WALSH, U.S. Securities and Exchange Commission--Mutual Fund Supermarkets and the Boundaries of Financial Intermediation

GREGORY P. NINI, Federal Reserve Board, and DAVID C. SMITH, University of Virginia--Loan Renegotiations

Discussants: OLIVER HANSCH, Goldman Sachs and Co.

AMIR SUFI, University of Chicago

HARVEY WESTBROOK, UNX Corp.

Jan. 6, 10:15 am

URPE

Reconstituted Social Structures of Accumulation: Macroeconomics, Profits, Finance,

and Performance (P1)

Presiding: DORENE ISENBERG, University of Redlands

DORENE ISENBERG, University of Redlands—Financial Renovation and the Rise of a New SSA

DAVID M. KOTZ, University of Massachusetts-Amherst-- Identifying the Cause of Capitalist Crises in Two Regimes: The Different Sources of Profit Rate Declines in Regulated versus Neoliberal Capitalism

VICTOR LIPPIT, University of California-Riverside-- Financial Innovation and SSA Formation in the 21^st Century

PHILLIP O’HARA, Curtin University—The Index of System Contradiction and Social Structures of Accumulation in the U.S. and China

Discussants: MARTIN WOLFSON, University of Notre Dame

MINQI LI, University of Utah

Jan. 6, 10:15 am

URPE

Topics in Marxian Economics (B2)

Presiding: JIM DEVINE, Loyola University-Los Angeles

ERIK OLSEN, University of Missouri-Kansas City—Unproductive Activity and Endogenous Technological Change in a Marxian Model of Economic Growth

BOKHYUN CHO, Hanbat National University, South Korea—The Nature of Financial Capital and The Finance-led Accumulation Regime

JUSTIN A. ELARDO, Ohio State University—Marx, Marxists, and Economic Anthropology

EMLYN F. NARDONE, Centre for Innovation and Structural Change (CISC), National University of Ireland, Republic of Ireland—Integrating Transnational Classes into the Social Structure of Accumulation (SSA) Framework

Discussants: ERIK OLSEN, University of Missouri-Kansas City

JIM DEVINE, Loyola University, Los Angeles

Jan. 6, 12:30 pm

AEA

Luncheon Honoring the 2005 Nobel Laureates in Economics, Thomas Schelling and

Robert Aumann

Presiding: THOMAS SARGENT, New York University

DAVID KREPS, Stanford University

Jan. 6, 12:30 pm

AREUEA

Presidential Luncheon

Presiding: RICHARD GREEN, George Washington University

STEPHEN MALPEZZI, University of Wisconsin

Jan. 6, 12:30 pm

LERA

Presidential Luncheon

Presiding: EILEEN B. HOFFMAN, FMCS

DAVID LIPSKY, Cornell University

Jan. 6, 2:30 pm

AFEA

Growth, Integration and Convergence in African Countries

Presiding: AKPAN H. EKPO, University of Uyo, Nigeria

MESHACK AZIAKPONO, Rhodes University, South Africa—Financial and Monetary Autonomy and Interdependence between South Africa and the Other SACU Countries

ANDREW OJEDE, Kansas State University—The Impact of Trade and Exchange Rate Reforms on Trade Balances of Sub-Saharan African Countries: A Dynamic Panel Data Modeling Technique using the GMM Procedure

DANIEL GBETNKOM, University of Yaounde II, Cameroon—Economic Reforms and Real Convergence in the West African Economic and Monetary Union

LEONCE NDIKUMANA, University of Massachusetts—Potential for Regional Capital Market Development and Integration in Africa: Issues and Challenges

Discussants: WAYNE NAFZIGER, Kansas State University

KWABENA GYMAH-BREMPONG, University of South Florida

UNA OKONKWO OSILI, Indiana University-Purdue University-Indianapolis

ELIZABETH ASIEDU, University of Kansas

Jan. 6, 2:30 pm

AAEA

Urban Sprawl: Consequences and Policy Approaches (Q1)

Presiding: SEONG-HOON CHO, University of Tennessee

ANDREW J. PLANTINGA, Oregon State University, and STEPHANIE BERNELL--The Association between Urban Sprawl and Obesity: Is It a Two-Way Street?

JUNJIE WU, Oregon State University--How Does Urbanization Affect Local Public Finance and Communities?

SEONG-HOON CHO and ROLAND K. ROBERTS, University of Tennessee--The Cure for Urban Sprawl: Balance between Neighborhood Density and Lot Size for Housing.

Discussant: RANDALL P. WALSH, University of Colorado

Jan. 6, 2:30 pm

AEA

Search-and-Matching Financial Markets (G1)

Presiding: PIERRE-OLIVIER WEILL, New York University

NICOLE GÂRLEANU, University of Pennsylvania—Portfolio Choice and Pricing in Illiquid Markets

RICARDO LAGOS, New York University and Federal Reserve Bank of Minneapolis, and GUILLAUME ROCHETEAU, University of Pennsylvania and Federal Reserve Bank of Cleveland—Search in Asset Markets

DARRELL DUFFIE and GUSTAVO MANSO, Stanford University—Information Transmission in Large Populations

Discussants: DIMITRI VAYANOS, London School of Economics

NEIL WALLACE, Pennsylvania State University

MANUEL AMADOR, Stanford University

Jan. 6, 2:30 pm

AEA

Religion and Fertility (Z1)

Presiding: LAURENCE IANNACCONE, George Mason University

ELI BERMAN, University of California-San Diego, LAURENCE IANNACCONE, George Mason University, and GIUSEPPE RAGUSA, Rutgers University—From Empty Pews to Empty Cradles: Fertility Decline among European Catholics

ALICIA ADSERA, University of Illinois-Chicago—Marital Fertility and Religion in Spain

SRIYA IYER, Cambridge University, and VANI BOROOAH, University of Ulster—Missing Women and India’s Religious Demography

Discussant: EDWARD GLAESER, Harvard University

EVELYN LEHRER, University of Illinois-Chicago

Jan. 6, 2:30 pm

AEA

Household Responses to Capital Income Taxation (H2)

Presiding: JULIE CULLEN, University of California-San Diego

JONATHAN GRUBER, Massachusetts Institute of Technology—A Tax Based Estimate of the Intertemporal Elasticity of Substitution

WOODROW JOHNSON, University of Oregon, and JAMES POTERBA, Massachusetts Institute of Technology—Taxes and Trading Behavior of Mutual Fund Investors Around Fund Distributions: Account-Level Evidence

WOJCIECH KOPCZUK, Columbia University—Bequest and Tax Planning: Evidence from Estate Tax Returns

MARIKA SANTORO, Congressional Budget Office—A Stylized Tax Reform in Presence of Precautionary Savings

Discussants: FATIH GUVENEN, University of Rochester

RAJ CHETTY, University of California-Berkeley

KATHLEEN MCGARRY, University of California-Los Angeles

KENT SMETTERS, University of Pennsylvania

Jan. 6, 2:30 pm

AEA

Banking

Presiding: WAN-RU YANG, University of California-Santa Barbara

WAN-RU YANG, University of California-Santa Barbara—Signal Effect, Herd Behavior and the Trigger Time of Bank Runs

AMAR GANDE, Vanderbilt University, EDWARD ALTMAN, and ANTHONY SAUNDERS, New York University—Informational Efficiency of Loans versus Bonds: Evidence from Secondary Market Prices

DAVID SKEIE, Federal Reserve Bank of New York—Money and Modern Banking without Bank Runs

Jan. 6, 2:30 pm

AEA

Earnings Volatility and Its Implications (J3)

Presiding: ROBERT MOFFITT, Johns Hopkins University

PETER GOTTSCHALK, Boston College, and ROBERT MOFFITT, Johns Hopkins University—Trends in Earnings Volatility in the U.S.

RICHARD BLUNDELL, COSTAS MEGHIR, University College London, and JEAN-MARC ROBIN, University of Paris I and University College London—Income Inequality and the Persistence of Idiosyncratic Shocks

FLAVIO CUNHA and JAMES HECKMAN, University of Chicago—The Evolution of Labor Earnings Risk in the U.S. Economy

TEKABE BELAY, Yale University—Rainfall Shocks, Schooling, Health and Child Labor in Rural Ethiopia

Discussants: JOSEPH TRACY, Federal Reserve Bank of New York

MICHAEL BAKER, University of Toronto

KENNETH WOLPIN, University of Pennsylvania

Jan. 6, 2:30 pm

AEA

International Banking and International Capital Flows (F3)

Presiding: LINDA GOLDBERG, Federal Reserve Bank of New York

MARIA PIA OLIVERO, Drexel University—Trade, Non-Competitive Banking and the International Transmission of Business Cycles

NICOLA CETORELLI and LINDA GOLDBERG, Federal Reserve Bank of New York—Do U.S. Banks Transmit Business Cycles Internationally, or React to Them?

P. MARCELO OVIEDO, Iowa State University—The Macroeconomics of Financially Intermediated Small Open Economies

CLAUDIA BUCH and SVEN BLANK, University of Tuebingen—Cross-Border Banking and the International Transmission of Business Cycles

Discussants: JONATHAN HEATHCOTE, Georgetown University

ENRIQUE MENDOZA, University of Maryland

PHILIP STRAHAN, Boston College

RICHARD ROSEN, Federal Reserve Bank of Chicago

Jan. 6, 2:30 pm

AEA

Case Studies in the Transition from Financial Theory to Business Practice (G2)

Presiding: JOHN AMERIKS, Vanguard Group

ROBERT SHILLER, Yale University—Macro Securities

ANDREW CAPLIN, New York University, FREDERICK POLLOCK, PCM Asset Management, and TRIVIKRAMAN THAMPY, New York University—Shared Equity Mortgages

PETER TUFANO, Harvard Business School—Financial Innovations That Facilitate Asset Building by the Less Well-Off

Jan. 6, 2:30 pm

AEA

Poster Session on Teaching Ideas and Projects (A2)

Presiding: RAE JEAN B.GOODMAN, U.S. Naval Academy

WAYNE JOERDING, Washington State University—Collaborative Assignments without Regrets

PAVEL KAPINOS, Carleton College—Using Excel to Teach New Keynesian Economics

MAUREEN KILKENNY, University of Nevada-Reno—An Experimental Market for the Classroom to Test if Speculators Stabilize Prices

CARSTEN LANGE, California State Polytechnic University—The Hogwarts System: An Internet Based Utility to Foster Students’ Active Class Participation and Attendance

MARY LOPEZ, Occidental College—Service or Community-Based Learning Projects

MICHAEL A. QUINN, Bentley College—An On-Line Scavenger Hunt with Blackboard

JEAN SHACKELFORD, Bucknell University—iPods in Economics? Technology for Enhancing Active Learning

NEIL SHEFLIN, Rutgers University-New Brunswick—The End of Teaching? The Use of Active Technology in the Large Introductory Economics Class

JOHN Z. SMITH, New York University—Active Learning Exercises for Microeconomic Theory

SUE STOCKLY, Eastern New Mexico University—Demand Analysis with “Real Data”—A Written Assignment for Intermediate Microeconomics

JONATHAN B. WIGHT, University of Richmond—Top Ten Lessons on Ethics in Economics: The Templeton/NCEE Project

Jan. 6, 2:30 pm

AEA

News, Expectations and Business Cycles (E3)

Presiding: SERGIO REBELO, Northwestern University

PAUL BEAUDRY, University of British Columbia, FABRICE COLLARD, and FRANCK PORTIER, University of Toulouse—Expectations of New Markets and Business Cycles

LAWRENCE CHRISTIANO, Northwestern University, ROBERT MOTTO, and MASSIMO ROSTAGNO, European Central Bank—Monetary Policy and a Stock Market Boom-Bust Cycle

MONIKA PIAZZESI, University of Chicago, and MARTIN SCHNEIDER, New York University—Expectations and Asset Prices with Heterogeneous

NIR JAIMOVICH, University of California-San Diego, and SERGIO REBELO, Northwestern University—Can News About the Future Drive the Business Cycle?

Discussants: LAWRENCE CHRISTIANO, Northwestern University

NIR JAIMOVICH, University of California-San Diego

PAUL BEAUDRY, University of British Columbia

MARTIN SCHNEIDER, New York University

Jan. 6, 2:30 pm

AEA

Antitrust and Competition Policy

Presiding: JOHN CONNOR, Purdue University

JOHN CONNOR, Purdue University—Effectiveness of Antitrust Sanctions on International Private Cartels

MIKA KATO, Howard University—A Framework for Analyzing the Antitrust Safety Zone

MARTA TROYA MARTINEZ, OECD—International Competition Policy: The Coordination of National Competition Authorities

YANHUA ZHANG, University of Toulouse—Forward Contracts and Collusion in the Electricity Market

Discussants: To be announced.

Jan. 6, 2:30 pm

AEA

Social Norms, Culture and Institutional Evolution (N3)

Presiding: MURAT IYIGUN, University of Colorado and IZA

MARISTELLA BOTTICINI, Collegio Carlo Alberto, Universita di Torino, and Boston University, and ZVI ECKSTEIN, University of Minnesota and Tel Aviv University—From Farmers to Merchants, Voluntary Conversions and the Diaspora: A Human Capital Interpretation of Jewish History

ANN CARLOS, University of Colorado, and LARRY NEAL, University of Illinois-Urbana-Champaign—Women, Property and Securities in the City of London, 1720-1725

MURAT IYIGUN, University of Colorado and IZA—Ottoman Conquests and European Ecclesiastical Pluralism

Discussants: JOEL MOKYR, Northwestern University

MARISTELLA BOTTICINI, Collegio Carlo Alberto, Universita di Torino, and Boston University

ANN CARLOS, University of Colorado

Jan. 6, 2:30 pm

AEA

Factor Endowments, Relative Prices, and International Trade (F1)

Presiding: ROBERT FEENSTRA, University of California-Davis and NBER

KLAUS DESMET, University Carlos III, and STEPHEN L. PARENTE, University of Illinois-Urbana-Champaign—Bigger is Better: Market Size, Demand Elasticity and Resistance to Technology Adoption

PAUL BERGIN, University of California-Davis and NBER, GORDON HANSON, University of California-San Diego and NBER, and ROBERT FEENSTRA, University of California-Davis and NBER—Outsourcing and Volatility

CHRISTIS TOMBAZOS, Monash University—Specialization, the Intermediate Nature of Traded Products, and Wage Inequality

GEORGE ALESSANDRIA, Federal Reserve Bank of Philadelphia, and HORAG CHOI, University of Auckland—Firm Heterogeneity, Export Participation, and Trade Reform

Discussants: IGOR LIVSHITS, University of Western Ontario

THOMAS CHANEY, University of Chicago

HOWARD SHATZ, Rand Corporation

` KIM J. RUHL, University of Texas-Austin

Jan. 6, 2:30 pm

AEA

Macro Fluctuations and Micro Adjustment Costs (E3)

Presiding: JOHN HALTIWANGER, University of Maryland

RICARDO CABALLERO, Massachusetts Institute of Technology, EDUARDO ENGEL, and RUEDIGER BACKMANN, Yale University—Lumpy Investment in Dynamic General Equilibrium

ANIL KASHYAP, University of Chicago, and FRANCOIS GOURIO, Boston University—Does Investment Lumpiness Matter for Aggregate Dynamics?

NICK BLOOM, Stanford University—The Impact of Uncertainty-Shocks: A Firm-Level Estimation and a 9/11 Simulation

Discussants: JOHN LEAHY, New York University

RUSSELL COOPER, University of Texas

JANICE EBERLY, Northwestern University

Jan. 6, 2:30 pm

AEA

Political Economy of Environmental and Trade Policy (F1)

Presiding: SUMEET GULATI, University of British Columbia

CLAUSTRE BAJONA, University of Miami, and JOSH EDERINGTON, University of Kentucky—Domestic Policies, Hidden Protection and the GATT/WTO

JOHN LIST, University of Chicago, DANIEL MILLIMET, Southern Methodist University, and MICHAEL PRICE, University of Nevada-Reno—Canadian/U.S. Softwood Timber Trade Dispute: An Examination of Resolutions and Steps Forward

EMMA AISBEST, LARRY KARP, University of California-Berkeley, and CAROL MCAUSLAND, University of Maryland—Regulatory Takings and Environmental Regulation in NAFTA’s Chapter 11

MATTHEW COLE, University of Birmingham, and PER FREDERIKSSON, University of Louisville—Institutionalized Pollution Havens

Discussants: BRIAN COPELAND, University of British Columbia

JOSH EDERINGTON, University of Kentucky

SUMEET GULATI, University of British Columbia

DANIEL MILLIMET, Southern Methodist University

Jan. 6, 2:30 pm

AEA

Looking Down the Pipeline: Female Economists in the Making (In Honor of CSWEP’s

35^th Anniversary)

Presiding: LISA LYNCH, Tufts University

KAREN DYNAN, Federal Reserve Board

MARIANNE JOHNSON, University of Wisconsin-Oshkosh

ANN OWEN, Hamilton College

MARTHA STARR, American University

CATHERINE WEINBERGER, University of California-Santa Barbara

Jan. 6, 2:30 pm

AEA

Strategic Reporting in Online Feedback Mechanisms (L1)

Presiding: HAL R. VARIAN, University of California-Berkeley

LUIS M.B. CABRAL, New York University, and ALI HORTAÇSU, University of Chicago—The Dynamics of Seller Reputation: Evidence from eBay

CHRYSANTHOS DELLAROCAS, Massachusetts Institute of Technology, and CHARLES A. WOOD, University of Notre Dame—The Sound of Silence in Online Feedback: Estimating Trading Risks in the Presence of Reporting Bias

TOBIAS J. KLEIN, CHRISTIAN LAMBERTZ, University of Mannheim, GIANCARLO SPAGNOLO, CONSIP and Stockholm School of Economics, and KONRAD O. STAHL, University of Mannheim—Last Minute Feedback

Discussants: KONRAD O. STAHL, University of Mannheim

GIANCARLO SPAGNOLO, CONSIP and Stockholm School of Economics

CHARLES A. WOOD, University of Notre Dame

Jan. 6, 2:30 pm

AEA

Consumer-Directed Health Care: A Wise Choice? (H5)

Presiding: DANIEL MCFADDEN, University of California-Berkeley

DAVID LAIBSON, Harvard University—Can Consumers Make Wise Health Care Choices?

JOACHIM WINTER, FLORIAN HEISS, University of Munich, and DANIEL MCFADDEN, University of California-Berkeley—Mind the Gap! Consumer Perceptions and Choices of Medicare Part D Prescription Drug Plans

DAVID WEIR and HELEN LEVY, University of Michigan—The Demand for Prescription Drugs and Medicare Part D: Evidence from the Health and Retirement

MICHAEL HURD, ARIE KAPTEYN, SUSANN ROHWEDDER, and ARTHUR VAN SOEST, RAND Corporation—Knowledge of Drug Costs and Prescription Drug Insurance Plan Preferences

Discussants: ALAN KRUEGER, Princeton University

AMY FINKELSTEIN, Massachusetts Institute of Technology

DANA GOLDMAN, RAND Corporation

ANNE HALL, Federal Reserve Board

Jan. 6, 2:30 pm

AEA

Unemployment in Transition Economies: Why So High? (J6)

Presiding: ORLEY ASHENFELTER, Princeton University

OLIVIER BLANCHARD, Massachusetts Institute of Technology, and SIMON COMMANDER, London Business School—Why is Unemployment So High in Eastern Europe? The Role of Initial Conditions versus Labor Market Institutions

STEPHEN JURAJDA, CERGE-EI, and KATHERINE TERRELL, University of Michigan—Why is Unemployment in Central and Eastern Europe So High Today?

DANIEL MUNICH, CERGE-EI, and JAN SVEJNAR, University of Michigan—The Efficiency of Employer-Worker Matching in the East and West

GUILIA FAGGIO, London School of Economics—Job Destruction, Job Creation and Unemployment in Transition Economies: What Can Be Learned?

Discussants: RICHARD FREEMAN, Harvard University

GABOR KEZDI, Central European University

HARTMUT LEHMANN, University of Bologna

STEFANO SCARPETTA, World Bank

Jan. 6, 2:30 pm

AEA

A Productive Decade: A Retrospective on the U.S. Productivity Resurgence (O4)

Presiding: DANIEL SICHEL, Federal Reserve Board

DALE JORGENSON, Harvard University, and KEVIN STIROH, Federal Reserve Bank of New York—A Retrospective on the U.S. Productivity Resurgence: Changing Views and Policy Implications

BARRY P. BOSWORTH and JACK E. TRIPLETT, Brookings Institution—Is the 21^st Century Productivity Expansion Still in Services? And What Should Be Done About It?

BART VAN ARK, ROBERT INKLAAR, and MARCEL P. TIMMER, University of Groningen—Why is Productivity Growth in Europe Still Slow?

Discussants: ROBERT GORDON, Northwestern University

ERIK BRYNJOLFSSON, Massachusetts Institute of Technology

JACK TRIPLETT, Brookings Institution

Jan. 6, 2:30 pm

AEA

Is Foreign Aid Helping?

Presiding: WILLIAM EASTERLY, New York University

FRANCOIS BOURGUIGNON, World Bank

RAGHURAM RAJAN, International Monetary Fund

WILLIAM EASTERLY, New York University

Jan. 6, 2:30 pm

AEA/AERE

Valuing Morbidity and Mortality Risk Reductions (J1, I1, Q5)

Presiding: MAUREEN CROPPER, University of Maryland and World Bank

KEVIN M. MURPHY and ROBERT H. TOPEL, University of Chicago—The Value of Health and Longevity

MICHAEL GREENSTONE, Massachusetts Institute of Technology, JANET CURRIE, Columbia University, and ENRICO MORETTI, University of California-Berkeley—Are Hazardous Waste Sites Hazardous to Human Health? Evidence from Superfund Clean-Ups and Infant Health

TRUDY ANN CAMERON, University of Oregon, and J. R. DESHAZO, University of California-Los Angeles—A Generalized Model of Demand for Risk Reductions: Estimating the Value of a Statistical Illness Profile

Discussants: V. KERRY SMITH, North Carolina State University

W. KIP VISCUSI, Harvard University

DAVID MELTZER, University of Chicago

Jan. 6, 2:30 pm

AEA/NAEFA

The Andrew Brimmer Policy Forum: The Political Economy of John Kenneth

Galbraith (A1)

Presiding: ANDREW F. BRIMMER, Brimmer & Company, Inc. and University of Massachusetts-Amherst

RICHARD PARKER, Harvard University--Galbraith: Political and Economic Perspectives

J. BRADFORD DELONG, University of California-Berkeley--Assessment of Galbraith’s Major Contributions to Economics

ANDREW F. BRIMMER, Brimmer & Company, Inc. and University of Massachusetts-Amherst--Galbraith at the Intersections of Politics and Economics

Discussants: BARBARA R. BERGMANN, American University

PAUL DAVIDSON, Editor, Journal of Post Keynesian Economics

JAMES K. GALBRAITH, University of Texas-Austin

Jan. 6, 2:30 pm

AEA/SPM

Income Distribution, Growth and Poverty (D3)

Presiding: STANLEY LAWSON, St. John’s University

FRED CAMPANO, Fordham University and United Nations—Economic Development and Income Distribution

DOMINICK SALVATORE, Fordham University—Globalization, Growth, Income Distribution and Poverty

DOUGLAS O. WALKER, Regent University—Patterns of Income Distribution across the World

Discussants: SARA GORDON, St. John’s University

PELLEGRINO MANFRA, City University of New York

Jan. 6, 2:30 pm

AEA/SGE

The Distinguished Lecture on Economics in Government

Presiding: THORNTON MATHESON, U.S. Department of the Treasury

ANNE KRUEGER, Stanford University and International Monetary Fund--Multilateral Organizations and the International Economy

Jan. 6, 2:30 pm

AFA

Empirical Asset Pricing: Skeptical Perspectives

Presiding: LUBOS PASTOR, University of Chicago

MARTIN LETTAU and SYDNEY LUDVIGSON, New York University—Euler Equation Errors

JONATHAN LEWELLEN, Dartmouth College, STEFAN NAGEL, Stanford University, and JAY A. SHANKEN, Emory University—A Skeptical Appraisal of Asset Pricing Tests

LONG CHEN, Michigan State University, and SHELLY ZHAO, Kent State University—Return Decomposition

Discussants: VITO GALA, University of Chicago

MOTOHIRO YOGO, Harvard University and University of Pennsylvania

TUOMO VUOLTEENAHO, Harvard University and Arrowstreet Capital, LP

Jan. 6, 2:30 pm

AFA

The Corporate Governance of Executive and Employee Compensation

Presiding: PAOLO VOLPIN, London Business School

HENRIK CRONQVIST, Ohio State University, FREDRIK HEYMAN, Research Institute of Industrial Economics, MATTIAS NILSSON, Worcester Polytechnic Institute, HELENA SVALERYD, Research Institute of Industrial Economics, and JONAS VLACHOS, Stockholm School of Economics—Do Entrenched Managers Pay Their Workers More?

NISHANT DASS, MASSIMO MASSA, and URS PEYER, INSEAD—Why Do CEOs Increase Their Equity-Based Compensation? Because They Have To

ZACHARIAS SAUTNER and MARTIN WEBER, University of Mannheim—Corporate Governance and the Design of Stock Option Programs

Discussants: AUGUSTIN LANDIER, University of Chicago and New York University

YANIV GRINSTEIN, Cornell University

DIRK JENTER, Massachusetts Institute of Technology

Jan. 6, 2:30 pm

AFA

Market Efficiency

Presiding: JOHN GRIFFIN, University of Texas-Austin

UPTAL BHATTACHARYA and NEAL GALPIN, Indiana University-Bloomington—Is Stock Picking Declining Around the World?

EKKEHART BOEHMER, Texas A&M University, CHARLES M. JONES, Columbia University, and XIAOYAN ZHANG, Cornell University—Which Shorts are Informed?

PAUL H. SCHULTZ, University of Notre Dame—Downward Sloping Demand Curves, the Supply of Shares, and the Collapse of Internet Stock Prices

Discussants: RANDALL MORCK, University of Alberta

INGRID WERNER, Ohio State University

WEI XIONG, Princeton University

Jan. 6, 2:30 pm

AFA

Financial Intermediation

Presiding: MANJU PURI, Duke University

NADIA ZIAD MASSOUD, University of Alberta, ANTHONY SAUNDERS, New York University, and BARRY SCHOLNICK, University of Alberta—The Cost of Being Late: The Case of Credit Card Penalty Fees

ELENA LOUTSKINA and PHILIP E. STRAHAN, Boston College—Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates

JOAO A.C. SANTOS and KRISTIN E. WILSON, Federal Reserve Board—Does Banks’ Corporate Control Benefit Firms? Evidence from U.S. Banks’ Control over Firms’ Voting Rights

Discussants: LORETTA MESTER, Federal Reserve Bank of Philadelphia

MARK LEARY, Duke University

STEVEN DRUCKER, Columbia University

Jan. 6, 2:30 pm

AFA

IPO’s

Presiding: JAY RITTER, University of Florida

TIM JENKINSON and HOWARD JONES, University of Oxford—IPO Pricing and Allocation: A Survey of the Views of Institutional Investors

OZGUR S. INCE, University of Florida—Why Do IPO Offers Prices Only Partially Adjust?

MICHAEL A. GOLDSTEIN, Babson College, PAUL J. IRVINE, and ANDY PUCKETT, University of Georgia—Purchasing IPOs with Commissions: Theoretical Predictions and Empirical Results

Discussants: RAYMOND FISHE, University of Richmond

KATHLEEN HANLEY, Securities and Exchange Commission

JONATHAN REUTER, University of Oregon

Jan. 6, 2:30 pm

AREUEA

Commercial Mortgage Credit Risk

Presiding: KERRY VANDELL, University of Califronia-Irvine

HOON CHO, JAMES D. SHILLING, University of Wisconsin, and BRIAN A. CIOCHETTI, Massachusetts Institute of Technology--Nonlinearities in the Relation of Property Prices and Commercial Mortgage Defaults

YONGHENG DENG, XUDONG AN, University of Southern California, and ANTHONY B. SANDERS, Ohio State University--Subordination Level as a Predictor of Credit Risk

RICHARD K. GREEN, GEORGE JABBOUR, George Washington University, and YIKANG LIU, BearingPoint--The Performance of Default Risk Structural Models on Commercial Mortgages: An Empirical Investigation

WINSTON KOH, ROBERTO MARIANO, ANDREY PAVLOV, Simon Fraser University, and SUSAN WACHTER, University of Pennsylvania--Underpriced Default Spread Exacerbates Market Crashes

Discussants: MICHAEL LACOUR-LITTLE, California State University-Fullerton

TIMOTHY RIDDIOUGH, University of Wisconsin
KERRY VANDELL, University of California-Irvine
ROBERT EDELSTEIN, University of California-Berkeley

Jan. 6, 2:30 pm

AREUEA

Modeling Urban Markets

Presiding: NELA T. RICHARDSON, Freddie Mac

HUA SUN, University of British Columbia--Hyperbolic Discounting, Loss Aversion and Its Implications on Housing Market

DONALD R. HAURIN, Ohio State University, JEFFREY D. FISHER, Indiana University, DEAN GATZLAFF, Florida State University, and DAVID GELTNER, Massachusetts Institute of Technology--Indices of Demand and Supply: Estimating and Examining Their Movements in the Residential Property Market

HARRIS HOLLANS, Auburn University, CAROLYN DEHRING, University of Georgia, and NEIL DUNSE, University of Aberdeen--Public Open Space, Spatial Externalities and Housing Density

DOUGLAS JAMES KRUPKA, Georgia State University, and DOUGLAS SIMPSON NOONAN, Georgia Institute of Technology--Theoretical and Empirical Determinants of Landmark Designation: Why We Preserve What We Preserve, and Why It Matters for Assessing Policy Impacts

Discussants: RAVEN SAKS, Federal Reserve Board
STEPHEN ROSS, University of Connecticut
JOSEPH NICHOLS, Federal Reserve Board
DOUGLAS A. MCMANUS, Freddie Mac

Jan. 6, 2:30 pm

AREUEA

Home Mortgage Prepayment and Default

Presiding: ROBERT VAN ORDER, University of Michigan

SUMIT AGARWAL, Bank of America, BRENT AMBROSE, Pennsylvania State University, SOUPHALA CHOMSISENGPHET, and CHUNLIN LIU, University of Nevada--Screening for Moral Hazard and Adverse Selection: Evidence from the Home Equity Market

CHRIS A RICHARDSON, GMAC Residential--Semiparametric and Non-Parametric Estimation of Mortgage Prepayments: The Role of Credit Quality

ANTHONY PENNINGTON-CROSS, Federal Reserve Bank of St. Louis--The Duration of Foreclosures in the Subprime Mortgage Market: A Competing Risks Model with Mixing

ELLEN A. MERRY, Federal Reserve Board--The Geography of Mortgage Delinquency

Discussants: AMY CREWS CUTTS, Freddie Mac

BARBARA BUKHVALOVA, Norwegian School of Management (BI)

BRENT AMBROSE, Pennsylvania State University

PATRIC HENDERSHOTT, University of Aberdeen and San Diego State University

Jan. 6, 2:30 pm

ACES

Causes and Consequences of Gender Imbalances in Asia and Russia (J1)

Presiding: JOSH ANGRIST, Massachusetts Institute of Technology

BETSY BRAINERD, Williams College--Uncounted Costs of World War II: The Effect of Changing Sex Ratios on Marriage and Fertility of Russian Women

LENA EDLUND, DOUGLAS ALMOND, Columbia University, HONGBIN LI, and JUNSEN ZHANG, Chinese University of Hong Kong—Long-Term Effects of the 1959-61 China Famine: Mainland China and Hong Kong

EMILY OSTER, University of Chicago--Does Increased Access Increase Equality? Gender and Child Health Investments in India

NANCY QIAN, Brown University--Missing Women and the Price of Tea in China: The Effect of Sex-Specific Earnings on Sex Imbalance

Discussants: JOSH ANGRIST, Massachusetts Institute of Technology

MARK ROSENZWEIG, Yale University

DAVID BLOOM, Harvard University

DENNIS YANG, Virginia Tech

Jan. 6, 2:30 pm

AFEE

Pricing and Regulation (D2)

Presiding: WILLIAM BARNES, University of Portland

ALAN HUTTON, Glasgow Caledonian University, UK--An Institutionalist Model of Regulation for the UK Energy Industries?

LYNNE BOWNDS, Eastern Washington University--The Price System and Health Care in the U.S.

STEPHEN P. PASCHALL, Lovett Bookman Harmon Marks LLP --The Transition from

Planning to Markets in National Health Policy for Acute Care Hospitals: The Pittsburgh

Experience

IRINA PEAUCELLE, Paris-Jourdan Sciences Economiques--Hospital Industry: The Consequences of Reforms in ex-GDR

MARC-ANDRÉ GAGNON, York University, Canada--Capital, Power and Knowledge According to Thorstein Veblen: Reinterpreting the Knowledge-Based Economy

Discussant: STEVEN BOLDUC, Minnesota State University-Moorhead

Jan. 6, 2:30 pm

ASE

Sustainability in Developing Countries

Presiding: SABINE O'HARA, Roanoke College

EDWARD L. FITZSIMMONS, Creighton University--Privatization and Poverty in Developing Countries

RAVI SRINIVAS, University of St. Thomas-Texas--Global Economic and Environmental Governance for Sustainable Development

UGRASEN PANDEY, Agra University, India--Shared Development through Community Action: Participatory Reforestation Efforts in Uttar Pradesh, India

B. MKWARA, Malawi Polytechnic--Globalization of Trade and Environmental Degradation in Malawi

Discussant: CHARLES WILBER, University of Notre Dame

Jan. 6, 2:30 pm

CES

Poverty Alleviation in China (I3)

Presiding: ALBERT PARK, University of Michigan

SHUBHAM CHAUDHURI and GAURAV DATT, World Bank--Has China All but Solved its Poverty Problem?

ALBERT PARK, University of Michigan, and SANGUI WANG, Renmin University--Community-based Development and Poverty Alleviation: An Evaluation of China’s Poor Village Investment Program

SHAOHU CHEN, REN MU, and MARTIN RAVALLION, World Bank—Are There Lasting Impacts of a Poor Area Development Program?

ALAN DE BRAUW, International Food Policy and Research Institute, and JOHN GILES, Michigan State University--Migrant Labor Markets and the Welfare of Rural Households in China

LINXIU ZHANG, YUANYUAN YAN, Chinese Academy of Sciences, SCOTT ROZELLE, Stanford University, and LOREN BRANDT, University of Toronto--Tax-for-Fee Reform, Village Operating Budgets and Public Goods Investment in China’s Poor Areas

Discussants: SCOTT ROZELLE, Stanford University

ALAN DEBRAUW, International Food Policy Research Institute

SHUBHAM CHAUDHURI, World Bank

Jan. 6, 2:30 pm