Preliminary Announcement of the Program





New Orleans, LA, January 4-6, 2008



REGISTRATION FOR THE MEETING: The deadline for pre-registering for the 2008 meeting was November 19. You may register on-site at the Hilton New Orleans Riverside starting on January 3 at 2:00 pm.



(It is important to note that all sessions will be equipped with an overhead projector, and a LCD projector for PowerPoint presentations.)


























































Thursday, January 3, 2008


Jan. 3, 6:30 pm



Inequality, Democracy, and the Economy (D6)


Presiding: JOHN B. DAVIS, University of Amsterdam and Marquette University


DEAN BAKER, Center for Economic and Policy Research

WILLIAM J. DARITY, JR., Duke University

LOURDES BENERIA, Cornell University



Friday, January 4, 2008


Jan. 4, 8:00 am



The Economics of More Flexible Approaches to Simultaneously Meeting Competing Water Demands of Irrigated Agriculture, Cities, and the Environment (Q2)


Presiding: JOHN LOOMIS, Colorado State University


FRANK WARD, New Mexico State University, MARY JO KEALY, CH2M-Hill, LEAH MANNING, Lower Colorado River Authority, and GARY GUY, San Antonio Water System--Least Cost Conservation Measures in Irrigated Agriculture to Sustain Urban and Environmental Water Demands


JAMES PRITCHETT and JENNIFER THORVALDSON, Colorado State University--Water as a Crop: An Investigation into Farmers' Willingness to Adopt Limited Irrigation Practices and Participate in Water Leasing


EDNA LOEHMAN, Purdue University, and JOHN LOOMIS, Colorado State University--Economic Efficiency Conditions for Balancing Optimum Instream Flow as a Public Good and Agricultural Uses of Water


Discussant:  RONALD GRIFFIN, Texas A&M University



Jan. 4, 8:00 am



Firm Heterogeneity and International Trade


Presiding: KALA KRISHNA, Pennsylvania State University


ANDRES RODRIGUEZ CLARE, Pennsylvania State University, and SVETLANA DEMIDOVA, University of Georgia--Trade Policy, Endogenous Variety and Heterogenous Productivity


BEE-YAN ROBERTS, MARK ROBERTS, Pennsylvania State University, and DANIEL XU, New York University--Firm Heterogeneity and Export Activity: Investments in R&D of Taiwanese Firms


HIAU LOOI KEE, World Bank, and KALA KRISHNA, Pennsylvania State University--Trade Policy Differences and Firm Characteristics: Evidence from Bangladesh


Discussants: RICHARD BALDWIN, Graduate Institute of International Studies, Geneva

JAMES TYBOUT, Pennsylvania State University

JOSEPH FRANCOIS, Erasmus University Rotterdam



Jan. 4, 8:00 am



Better Living through Economics: I


Presiding: JOHN J. SIEGFRIED, Vanderbilt University


CHARLES PLOTT, California Institute of Technology--Using Economic Research to Improve the World We Live In


Discussants: DAN NEWLON, National Science Foundation

      DANIEL HAMERMESH, University of Texas-Austin

ALAN BLINDER, Princeton University



Jan. 4, 8:00 am



The Economic Effects of Informal Care around the World (J2)


Presiding: COURTNEY VAN HOUTVEN, Duke University


NORMA COE, Tilburg University, and COURTNEY VAN HOUTVEN, Duke University--The Effect of Parental Caregiving on Adult Children's Health and Wealth


LAURA CRESPO, Centro de Estudios Monetarios y Financieros (CEMFI)--Caring for Parents and Employment Status of European Mid-Life Women


PIERRE-CARL MICHAUD, RAND Corporation, and AXEL HEITMUELLER, London Business School and Prime Minister's Strategy Unit--Informal Care and Employment in England: Evidence from the British Household Panel Survey


BERNARD VAN DEN BERG, Free University of Amsterdam, DENZIL FIEBIG, and JANE HALL, University of New South Wales--The Impact of Providing Informal Care on Self-Reported Well-Being


Discussants: LILIANA PEZZIN, Medical College of Wisconsin

GEMA ZAMARRO, Tilburg University

STEVEN STERN, University of Virginia

EDWARD C. NORTON, University of North Carolina-Chapel Hil



Jan. 4, 8:00 am



Relational Contracts and Transactional Efficiency (L1)


Presiding: CLAUDE MENARD, ATOM - University of Paris Pantheon - Sorbonne


ROBERT GIBBONS and REBECCA HENDERSON, Massachusetts Institute of Technology--What Do Managers Do? Suggestive Evidence and Potential Theories about Building and Managing Relational Contracts


CLAUDE MENARD, ATOM - University of Paris Pantheon-Sorbonne--The Governance of Interfirm Agreements: A Relational Contract Perspective


ESHIEN CHONG, CLAUDINE DESRIEUX, and STÉPHANE SAUSSIER, University Paris XI Sud--Relational Contracts in Public-Private Partnerships: A Point of View from Multi-Market Contacts


RICARD GIL, University California-Santa Cruz, and JEAN-MICHEL OUDOT, ATOM - University Paris Pantheon-Sorbonne--Contractual Completeness and Ex-post Efficiency: Trade-Offs between Ex-Ante and Ex-Post Costs in Contract Design


Discussants: SCOTT MASTEN, University of Michigan

STEVEN TADELIS, University of California-Berkeley

RICARD GIL, University of California-Santa Cruz

ERIC BROUSSEAU, University of Paris Nanterre



Jan. 4, 8:00 am



Technology Adoption in Developing Countries (O3)


Presiding: DEAN YANG, University of Michigan


TAVNEET SURI, Massachusetts Institute of Technology--Selection and Comparative Advantage in Technology Adoption


XAVIER GINE, World Bank, NAVA ASHRAF, Harvard University, and DEAN KARLAN, Yale University--Technology Adoption and Network Formation: Evidence from a Horticultural Credit and Export Program in Kenya


DEAN YANG, University of Michigan, and XAVIER GINE, World Bank--Insurance, Credit, and Technology Adoption: Field Experimental Evidence from Malawi


Discussants: HOYT BLEAKLEY, University of Chicago

RICHARD AKRESH, University of Illinois-Ubana-Champaign

REBECCA THORNTON, University of Michigan



Jan. 4, 8:00 am



Dynamic Tradeoffs in Health Care Decisions (I1)


Presiding: HANMING FANG, Yale University


JEROME ADDA, University College London, UK--Social Smoking versus Addiction


JOHN CAWLEY and FENG LIU, Cornell University--The Impact of Unemployment on Health Investments and Risky Behaviors


HANMING FANG and ALESSANDRO GAVAZZA, Yale University--Dynamic Inefficiencies in Health Care Markets


AHMED KHWAJA, Duke University, DAN SILVERMAN, University of Michigan, and FRANK SLOAN, Duke University--Time Preference, Time Discounting, and Smoking Decisions


Discussants:   To be announced.



Jan. 4, 8:00 am



Asset Prices with Learning (G1)


Presiding: KLAUS ADAM, European Central Bank


TIMOTHY COGLEY, University of California-Davis, and THOMAS J. SARGENT, New York University--The Market Price of Risk and the Equity Premium: A Legacy of the Great Depression?


ATHANASIOS ORPHANIDES and MIN WEI, Federal Reserve Board--Evolving Macroeconomic Perceptions and the Term Structure of Interest Rates


AVIK CHAKRABORTY, University of Tennessee, and GEORGE EVANS, University of Oregon--Can Perpetual Learning Explain the Forward Premium Puzzle?


KLAUS ADAM, European Central Bank, ALBERT MARCET, CREI, Pompeu Fabra, IAB, and JUAN PABLO NICOLINI, Universidad Torcuato di Tella--Stock Market Volatility and Learning


Discussants:  To be announced.



Jan. 4, 8:00 am



Marriage Markets: Theory and Empirics (J1)


Presiding: CHRISTOPHER FLINN, New York University


MARISTELLA BOTTICINI, Collegio Carlo Alberto, University of Torino, and Boston University--Social Norms and Demographic Shocks: Marriage Markets and Dowries in Medieval Tuscany


ZVIKA NEEMAN, ANDREW NEWMAN, and CLAUDIA OLIVETTI, Boston University--Are Working Women Good for Marriage?


EUGENE CHOO, University of Toronto, SHANNON SEITZ, Boston College, and ALOYSIUS SIOW, University of Toronto


DANIELA DEL BOCA, University of Torino, and CHRISTOPHER FLINN, New York University--Household Time Allocation and Modes of Behavior: A Theory of Sorts


Discussants: SHANNON SEITZ, Boston College

META BROWN, University of Wisconsin-Madison

DANIELA DEL BOCA, University of Torino

WILBERT VAN DER KLAAUW, Federal Reserve Bank of New York



Jan. 4, 8:00 am



The Economic Geography of Trade and Production (R1)


Presiding: STEPHEN REDDING, London School of Economics


GILLES DURANTON, University of Toronto, PIERRE-PHILIPPE COMBES, University of Aix-Marseille, LAURENT GOBILLON, Institut National d'Etudes Démographiques, DIEGO PUGA, Universitat Pompeu Fabra, and SÉBASTIEN ROUX, Institut National de la Statistique et des Etudes Economiques--The Productivity Advantages of Large Cities: Distinguishing Agglomeration from Firm Selection


STEPHEN REDDING, DANIEL STURM, London School of Economics, and NIKOLAUS WOLF, University of Warwick--History and Industry Location: Evidence from German Airports


GUY MICHAELS, London School of Economics--The Long-Term Consequences of Resource Based Specialization


ELEANOR DOYLE, University College Cork, Ireland, and IMMACULADA MARTINEZ-ZARZOSO, Universitaet-Goettingen, Germany--Productivity, Trade, and Institutional Quality: A Panel Analysis


Discussants: GIOVANNI PERI, University of California-Davis

DONALD DAVIS, Columbia University

JAMES HARRIGAN, Federal Reserve Bank of New York



Jan. 4, 8:00 am



New Evidence on the Great Moderation of U.S. Business Cycle Volatility (E3)


Presiding: GIORGIO PRIMICERI, Northwestern University


LUCA BENATI, European Central Bank, and PAOLO SURICO, Bank of England--VAR Analysis and the Great Moderation


JONAS FISHER, Federal Reserve Bank of  Chicago, and MARTIN GERVAIS, University Western Ontario--First Time Home Buyers and Residential Investment Volatility


ZHENG LIU, Emory University, DANIEL WAGGONER, and TAO ZHA, Federal Reserve Bank of Atlanta--Macroeconomic Volatility and Monetary Policy Regimes


JESUS FERNANDEZ-VILLAVERDE, University of Pennsylvania, and JUAN RUBIO-RAMIREZ, Duke University--How Structural are Structural Parameters? Time-Varying Parameters and the Great Moderation


Discussants: MARC GIANNONI, Columbia University

JEFFREY CAMPBELL, Federal Reserve Bank of Chicago


BENOIT MOJON, Federal Reserve Bank of Chicago



Jan. 4, 8:00 am



Neural Foundations of Simple Economic Decision Making (D1)


Presiding: ANTONIO RANGEL, Caltech


BRIAN KNUTSON, Stanford University, SCOTT RICK, Carnegie Mellon University, ELLIOTT WIMMER, Stanford University, DRAZEN PRELEC, Massachusetts Institute of Technology, and GEORGE LOEWENSTEIN, Carnegie Mellon University--Neural Predictors of Purchases


HILKE PLASSMAN, JOHN O'DOHERTY, and ANTONIO RANGEL, Caltech--The Neural Basis for the Computation of Decision Values in Simple Economic Choice


CRAIG FOX, SABRINA TOM, CHRISOPHER TREPEL, and RUSSELL POLDRACK, University of California-Los Angeles--Losses Loom Larger Than Gains on the Brain: The Neural Basis of Loss Aversion in Decision Making under Risk


DAVID LAIBSON, Harvard University, SAMUEL MCCLURE, Princeton University, DAN ARIELY, Massachusetts Institute of Technology, and JONATHAN COHEN, Princeton University--Neural Mechanisms Underlying Temptation and Control


Discussants: ALDO RUSTICHINI, University of  Minnessota



Jan. 4, 8:00 am



Understanding School Performance (I2)


Presiding: RICHARD MURNANE, Harvard University


ERIC HANUSHEK, Stanford University, and STEVEN RIVKIN, Amherst College--School Quality and the Black-White Achievement Gap


TIMOTHY BESLEY, London School of Economics, and STEPHEN MACHIN, University College London--Are Public Sector CEOs Different? Leadership Wages and Performance in Schools


ANDREAS AMMERMUELLER, Centre for European Economic Research (ZEW), Germany, and PETER DOLTON, Royal Holloway College--Pupil-Teacher Gender Interaction Effects on Scholastic Outcomes in England and the USA


WIJI ARULAMPALAM, JEREMY SMITH, and ROBIN NAYLOR, University of Warwick--Student Performance and Class Attendance


Discussants: RICHARD MURNANE, Harvard University

      Others to be announced.



Jan. 4, 8:00 am



A Historical Perspective on Money and Payment Systems (E4)


Presiding: NATHAN SUSSMAN, Hebrew University


STEPHEN QUINN, Texas Christian University, and WILLIAM ROBERDS, Federal Reserve Bank of Atlanta--The Evolution of Checks as a Means of Payment: A Historical Survey


ISABEL SCHNABEL, University of Mainz, and BONN HYUN SONG SHIN, Princeton University--The "Kipper- und Wipperzeit" and the Origin of Central Banks


VINCENT BIGNON, University of Paris 10 at Nanterre & Sciences-Po, and RICHARD DUTU, University of Waikato, New Zealand--Moneychangers and the Quality of Money


Discussants:  To be announced.



Jan. 4, 8:00 am



Macroeconomic News and Financial Markets (E4)


Presiding: SAMUEL REYNARD, Swiss National Bank


PAOLO PASQUARIELLO, University of Michigan, and CLARA VEGA, Federal Reserve Board--The On-the-Run Liquidity Phenomenon


MAGNUS ANDERSSON, European Central Bank--Using Intraday Data to Gauge Financial Market Responses to Fed and ECB Monetary Policy Decisions


JOSHUA HAUSMAN, University of California-Berkeley, and JON WONGSWAN, Barclays Global Investors--Global Asset Prices and FOMC Announcements


ANGELO RANALDO and SAMUEL REYNARD, Swiss National Bank--Monetary Policy, Effectgs on Long-Term Rates and Stock Prices


Discussants: JEREMY GRAVELINE, University of Minnesota

ALAIN CHABOUD, Federal Reserve Board

      MARCEL FRATZSCHER, European Central Bank

      MICHAEL FLEMING, Federal Reserve Bank of New York



Jan. 4, 8:00 am



Job and Occupational Mobility


Presiding: GIUSEPPE MOSCARINI, Yale University


ILLOONG KWON, State University of New York-Albany, and EVA MEYERSSON MILGROM, Stanford University--Firm vs. Occupation in Labor Markets: A Cross Analysis of Wage, Mobility, and Promotion


ANA RUTE CARDOSO, IZA Bonn--Big Fish in Small Pond or Small Fish in Big Pond? An Analysis of Job Mobility


IOANA MARINESCU, University of Chicago--Separation Costs and Stochastic Productivity in a Matching Model of Job Turnover


GIUSEPPE MOSCARINI, Yale University, and FRANCIS VELLA, Georgetown University--Occupational Mobility and the Business Cycle


Discussants: FABIEN POSTEL-VINAY, University of Bristol

      GUEORGUI KAMBOUROV, University of Toronto



Jan. 4, 8:00 am



Taxes and Factor Mobility


Presiding: ALICIA MENENDEZ, University of Chicago


PAUL BEAUDRY, University of British Columbia, CHARLES BLACKORBY, University of Warwick, and DEZSOE SZALAY, University of Warwick--Taxes and Employment Subsidies in Optimal Redistribution Programs


ROBERT CHIRINKO, University of Illinois-Chicago, and DANIEL WILSON, Federal Reserve Bank of San Francisco--Tax Competition and Factor Mobility:  Evidence from the 50 U.S. States


MARCELLO ESTEVAO, International Monetary Fund--Institutions, Informality, and Wage Flexibility


DONALD ROBBINS, University of Antioquia, and DANIEL SALINAS, Dison Ruiz--The Impact of Payroll Taxes upon Employment, Wages, the Unemployment Rate and Informality: Theory and Simulations for Colombia


Discussants: JAMES HINES, University of Michigan 

      DAVID WILDASIN, University of Kentucky



Jan. 4, 8:00 am



Marriage and Motherhood in Developing Countries


Presiding: NANCY QIAN, Brown University


JORGE AGUERO and MINDY MARKS, University of California-Riverside--Motherhood and Female Labor Force Participation: Evidence from Infertility Shocks 


MANISHA SHAH and RAJ ARUNACHALAM, University of Melbourne--Prostitutes and Brides


ADRIANA COMACHO, University de los Andes--Low Birth Weight and Pre-Term Babies: An Indirect Effect of Terrorist Attacks in Columbia


RAJEEV DEHEJIA, Tufts University and NBER, KATHLEEN BEEGLE, World Bank, and ROBERTA GATTI, World Bank and CPER--Bride Price and Child Labor:  A Higher Price for Girls Who Work More?


Discussants: MARCUS RANGEL, University of Chicago

MICHELE TERTILT, Stanford University

ADRIANA LLERAS-MUNEY, Princeton University

ERIC EDMONDS, Dartmouth College



Jan. 4, 8:00 am



Assessment of Economics in U.S. High Schools and Undergraduate Programs


Presiding: WENDY A. STOCK, Montana State University


      WILLIAM WALSTAD, University of Nebraska-Lincoln, and STEPHEN BUCKLES, Vanderbilt University--Major Findings from the First National Assessment of Educational Progress (NAEP) in Economics


WILLIAM WALSTAD, University of Nebraska-Lincoln, and KENNETH REBECK, St. Cloud State University--A New Edition and National Norming Data for the Test of Understanding in College Economics (TUCE)


GEORG SCHAUR, University of Tennessee-Knoxville, and WILLIAM BECKER, Indiana University--Assessment Practices and Trends in Undergraduate Economics Courses


DiscussantsALAN KRUEGER, Princeton University

WENDY A. STOCK, Montana State University

TISHA L. N. EMERSON, Baylor University



Jan. 4, 8:00 am



Private Security Issuance and the Going Private Decision

Presiding: HEITOR ALMEIDA, New York University


MATTHEW T. BILLETT, University of Iowa, MARK J. FLANNERY, University of Florida, and JON A. GARFINKEL, University of Iowa--Long-Run Underperformance Following External Finance Issues?


GORDON M. PHILLIPS, University of Maryland, and ARMANDO R. GOMES, Washington University-St. Louis--Why Do Public Firms Issue Private and Public Securities?


ARNOUD W.A. BOOT, University of Amsterdam, RADHAKRISHNAN GOPALAN, and ANJAN V. THAKOR, Washington University-St. Louis--Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?


SREEDHAR T. BHARATH and AMY K. DITTMAR, University of Michigan-Ann Arbor--
To Be Or Not to Be (Public)


Discussants: CHARLES HADLOCK, Michigan State University
MICHAEL HERTZEL, Arizona State University
DANIEL FERREIRA, London School of Economics & Political Science
EKKEHART BOEHMER, Texas A&M University



Jan. 4, 8:00 am



Risks and Risk Compensation in Asset Markets

Presiding: RAVI BANSAL, Duke University


RAVI JAGANNATHAN, Northwestern University, HITOSHI TAKEHARA, University of Tsukuba, and YONG WANG, Hong Kong Polytechnic University--Calendar Cycles, Infrequent Decisions and the Cross Section of Stock Returns


GIL SADKA, Columbia University, RONNIE SADKA, University of Washington, and RAY BALL, University of Chicago--Aggregate Earnings and Asset Prices


HUAFENG (JASON) CHEN, MARCIN T. KACPERCZYK, and HERNAN ORTIZ-MOLINA, University of British Columbia--Labor Unions and Expected Stock Returns


ROBERT D. ARNOTT, JASON C. HSU, Research Affiliates, LLC, JUN LIU, and HARRY MARKOWITZ, University of California-San Diego--Does Noise Create Size and Value Effects?


Discussants: DANA KIKU, University of Pennsylvania
ROBERT DITTMAR, University of Michigan-Ann Arbor
HENGJIE AI, Duke University
AMIR YARON, University of Pennsylvania



Jan. 4, 8:00 am



Corporate Fraud


Presiding: ANIL SHIVDASANI, University of North Carolina-Chapel Hill


XIAODING LIU and JAY R. RITTER, University of Florida--
Corporate Executive Bribery: an Empirical Analysis


JONATHAN M. KARPOFF, University of Washington, D. SCOTT LEE, and GERALD S. MARTIN, Texas A&M University--The Consequences to Managers for Financial Misrepresentation


JOHN M. BIZJAK, Portland State University, MICHAEL L. LEMMON, University of Utah and RYAN J. WHITBY, Texas Tech University--Option Backdating and Board Interlocks


Discussants: MICHELLE LOWRY, Pennsylvania State University
ADAIR MORSE, University of Chicago



Jan. 4, 8:00 am



Bank Capital Requirements and the Business Cycle


Presiding: VIRAL ACHARYA, London Business School


RAFAEL REPULLO and JAVIER SUAREZ, Centro de Estudios Monetarios y Financieros (CEMFI)--The Procyclical Effects of Basel II


DIANA HANCOCK, Federal Reserve Board, JOE PEEK, University of Kentucky, and JAMES A. WILCOX, University of California-Berkeley--The Repercussions on Small Banks and Small Businesses of Procyclical Bank Capital and Countercyclical Loan Guarantees


CHRISTOPHE PERIGNON, HEC Paris, and DANIEL R. SMITH, Simon Fraser University--The Level and Quality of Value-at-Risk Disclosure by Commercial Banks


EBERHARD FEESS, University of Applied Sciences and Technology Aachen (RWTH Aachen), and ULRICH HEGE, HEC Paris--The Basel II Accord: Internal Ratings and Bank Differentiation


Discussants: ANDREW WINTON, University of Minnesota-Twin Cities
PHILIP STRAHAN, Boston College
ANTHONY SAUNDERS, New York University
TANJU YORULMAZER, New York University



Jan. 4, 8:00 am



Advances in Portfolio Theory

Presiding: JESSICA WACHTER, University of Pennsylvania


JAKSA CVITANIC, California Institute of Technology, LEVON GOUKASIAN, Pepperdine University, and FERNANDO ZAPATERO, University of Southern California--Optimal Risk Taking With Flexible Income


ANDREA BURASCHI, Imperial College London, PAOLO PORCHIA, and FABIO TROJANI, University of St. Gallen--Correlation Risk and Optimal Portfolio Choice


PETER C. SCHOTMAN and FRANK LUTGENS, University of Maastricht--Predictability-Robust Dynamic Portfolio Choice


HONG LIU, Washington University-St. Louis, and MARK LOEWENSTEIN, University of Maryland--Optimal Portfolio Selection with Transaction Costs and 'Event Risk'


Discussants:  VICKY HENDERSON, University of Warwick
MICHAEL JOHANNES, Columbia University
ZHENYU WANG, Federal Reserve Banks
FRANCIS LONGSTAFF, University of California-Los Angeles



Jan. 4, 8:00 am



Mortgage Risk Valuation  (G1)


Presiding: JAMES R. FOLLAIN, James R. Follain LLC


MAN CHO, KDI School, CHRISTIAN DERITIS, and ERIC ROSENBLATT, Fannie Mae--Appraisal Bias and Loan Performance: New Evidences


JAMES FOLLAIN, James R. Follain LLC, and MIKE SKLARZ, New City Technology LLC--Evaluating Mortgage Performance with Public Records Data: Why, What, and How


RAPHAEL BOSTIC, University of Southern California, KATHLEEN ENGEL, Cleveland State University, PATRICIA MCCOY, University of Connecticut, and ANTHONY PENNINGTON-CROSS, Marquette University--State and Local Anti-Predatory Lending Laws: The Effects of Assignee Liability and Legal Remedies


KERRY D. VANDELL, University of California-Irvine--Subprime Lending and the Housing Bubble: Tail Wags Dog?


Discussants: TYLER YANG, IFE Group
 KAREN PENCE, Federal Reserve Board
 JESSE ABRAHAM, Wells Fargo Home Mortgage


Jan. 4, 8:00 am



Urban Areas (R0)


Presiding: JANET KOHLHASE, University of Houston


MORRIS DAVIS and FRANCOIS ORTALO-MAGNE, University of Wisconsin--Amenities as TFP and the Factor of Four


JOEL A. ELVERY, Bureau of Labor Statistics--City Size and Skill Intensity


YAN CHANG and NELA RICHARDSON, Freddie Mac--Determinants of Equity Extraction


STUART S. ROSENTHAL, Syracuse University, and WILLIAM C. STRANGE, University of Toronto--Female Entrepreneurship, Agglomeration, and a New Spatial Mismatch


Discussants:  ELENA SAFIROVA, Resources for the Future
 ALBERT SAIZ, University of Pennsylvania
 NANCY WALLACE, University of California-Berkeley
 JOHN QUIGLEY, University of California-Berkeley



Jan. 4, 8:00 am




Commercial Real Estate Finance (G2)


Presiding: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison




ANTHONY SANDERS, Ohio State University, YONGHENG DENG, University of Southern California, and STUART GABRIEL, University of California-Los Angeles--Commercial Real Estate CDOs and the Pricing of CMBS


DANNY BEN-SHAHAR, Technion - Israel Institute of Technology, EYAL SULGANIK, and EFRAT TOLKOWSKY, Tel Aviv University--Recourse and Non-recourse Mortgage Loans: A Theoretical Analysis Under Asymmetric Information


JUN CHEN, Property & Portfolio Research, Inc.--What Drives Commercial Mortgage Termination?--A Multi-State Transition Approach


XIAOQING ELEANOR XU, Seton Hall University--What Drives the Return on Commercial Mortgage-Backed Securities?



Discussants: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison
 ABDULLAH YAVAS, Pennsylvania State University
 WILLIAM WHEATON, Massachusetts Institute of Technology
 JAMES SHILLING, DePaul University



Jan. 4, 8:00 am



Understanding Foreign Direct Investment (F2)


Presiding:  NAURO CAMPOS, Brunel University, UK


      BRUNO MERLEVEDE and KOEN SCHOORS, Ghent University, Belgium--FDI and the Consequences: Towards More Complete Capture of Spillover Effects


      CHRISTIAN ARNDT and ANSELM MATTES, Institute for Applied Economic Research, Germany--The Impact of Inward FDI and Foreign Ownership on Performance of German Multinational Firms


      NAURO F. CAMPOS and YUKO KINOSHITA, International Monetary Fund--Foreign Direct Investment, Institutional Dynamics and Structural Reforms


      YURIY GORODNICHENKO, JAN SVEJNAR, and KATHERINE TERRELL, University of Michigan--FDI Spillovers and Innovation


Discussants: KOEN SCHOORS, Ghent University, Belgium

      NAURO CAMPOS, Brunel University, UK



Jan. 4, 8:00 am



Institutional Evolution and Change (B5)


Presiding: KLAUS NIELSEN, Roskilde University and Birkbeck College, University of London


JOHN F. HENRY, University of Missouri-Kansas City--Hobbes, Seabright and our Ancestors: Institutionalist Theory and the Writing of Pre-History


WILLIAM H. REDMOND, Indiana State University--Formal Institutions in Historical Perspective


ANNE MAYHEW, University of Tennessee--Idle Curiosity and Play: Veblen and Evolutionary Biology


WILLIAM GANLEY, Buffalo State College--Is Institutional Economics an Evolutionary Science?


ANNA KLIMINA, St. Thomas Moore College, University of Saskatchewan--The Veblenian Concept of Habit and Its Manifestation in the Model of Ingrained Equilibrium: The Case of Oligarchic Transition


Discussant: DAVID DEQUECH, University of Campinas



Jan. 4, 8:00 am



Extensions and New Applications of the Hotelling Model (Q3)


Presiding: JANIE CHERMAK, University of New Mexico


ROBERT H. PATRICK, Rutgers University, and JANIE M. CHERMAK, University of New Mexico--Irreconcilable Differences: Tests of the Theory of Exhaustible Resources


MICHAEL R. CAPUTO, University of Central Florida--A Nearly Complete Test of a Vertically Integrated, Capital Accumulating, Nonrenewable Resource Extracting Model of the Competitive Firm


UJJAYANT CHAKRAVORTY, University of Central Florida and University of Toulouse, MICHEL MOREAUX, University of Toulouse, and MABEL TIDBALL, University of Montpellier--Ordering the Extraction of Polluting Nonrenewable Resources


PETER HARTLEY and KENNETH B. MEDLOCK III, Rice University--A Model of the Operation and Development of a National Oil Company


Discussants: PETER BERCK, University of California-Berkeley

SCOTT FARROW, University of Maryland-Baltimore County

STEPHEN HOLLAND, University of North Carolina-Greensboro

DENISE YOUNG, University of Alberta



Jan. 4, 8:00 am



Behavioral Choice Theory (D0)


Presiding: JAWWAD NOOR, Boston University


LARRY G. EPSTEIN, University of Rochester--Living with Risk


KAREEN ROZEN, Yale University--Foundations of Intrinsic Habit Formation


SIMON GRANT, Rice University, and BEN POLAK, Yale University--Absolute Ambiguity Aversion and Mean-Dispersion Preferences


JAWWAD NOOR, Boston University--Hyperbolic Discounting and the Standard Model



Jan. 4, 8:00 am



Contracts and Communication (D8)




DAVID RAHMAN, Universidad Carlos III de Madrid, and ICHIRO OBARA, University of California-Los Angeles--Secret Contracts for Efficient Partnerships


JIAYIN SUN, Boston University--Disclosing Multiple Product Attributes


WIOLETTA DZIUDA, Northwestern University--Strategic Argumentation


SHAN ZHAO, GREMAQ and University of Toulouse--Policy Persistence in Repeated Common Agency Game



Jan. 4, 8:00 am



Organizations and Compensation  (J3)


Presiding: DEREK NEAL, University of Chicago


LUIS GARICANO, University of Chicago, and THOMAS N. HUBBARD, Northwestern University--Hierarchies and Earnings Inequality Among U.S. Lawyers, 1977-92


MARKO TERVIÖ, University of California-Berkeley--Difference That CEOs Make: An Assignment Model Approach


ANTONIO FALATO, Federal Reserve Board--Superstars or Superlemons? Top Executive Pay and Corporate Acquisitions


ALEX EDMANS, University of Pennsylvania, XAVIER GABAIX, New York University and NBER, and AUGUSTIN LANDIER, New York University--A Calibratable Model of Optimal CEO Incentives in Market Equilibrium


Discussants: MARIO MACIS, University of  Michigan

DEREK NEAL, University of Chicago



Jan. 4, 8:00 am



Political Economy (P1)


Presiding: NICOLAS SAHUGUET, HEC Montreal


SANTIAGO OLIVEROS, University of California-Berkeley--Who Abstains in Equilibrium?


ARIANNA DEGAN, UQAM, and ANTONIO MERLO, University of Pennsylvania--Do Voters Vote Sincerely?


ORIOL CARBONELL-NICOLAU, Rutgers University--A Positive Theory of Income Taxation


NICOLAS SAHUGUET, HEC Montréal, and BENOIT CRUTZEN, Erasmus University, Rotterdam--Redistributive Politics with Distortionary Taxation



Jan. 4, 8:00 am



Developments in Econometrics  (C1)


Presiding: VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology


VADIM MARMER and ARTYOM SHNEYEROV, University of British Columbia--Quantile-Based Nonparametric Inference for First-Price Auctions


SOKBAE LEE, University of College London, OLIVER LINTON, London School of Economics, and YOON-JAE WHANG, Seoul National University--Testing For Stochastic Monotonicity


SHINICHI SAKATA, University of British Columbia--Testing Parameter Constancy Across Many Groups


      STANISLAV ANATOLYEV, New Economic School--Inference In Linear Regression Models With Many Regressors



Jan. 4, 8:00 am



Public Finance (H2)


Presiding: CHE-LIN SU, Northwestern University


BEEN-LON CHEN, Academia Sinica, HUNG-JU CHEN, National Taiwan University, and PING WANG, Washington University- St. Louis and NBER--Public Policy and Human Capital Accumulation in an Endogenously Growing Economy with Labor-Market Frictions


FELIX BIERBRAUER, MPI Bonn, Germany, and MARCO SAHM, LMU Munich--Germany Informative Voting and the Samuelson Rule


CATARINA REIS, Massachusetts Institute of Technology--The Role of Social Preferences for Optimal Taxation without Commitment


KENNETH JUDD, Hoover Institution, and CHE-LIN SU, Northwestern University--Optimal Income Taxation with Multidimensional Taxpayer Types



Jan. 4, 8:00 am



Empirical Models of Labor, Marriage and Insurance Markets (J0)


Presiding: MICHAEL KEANE, University of Technology Sydney


MICHAEL KEANE, University of Technology Sydney, and MATTHEW JOHNSON, CRA International--A Dynamic Equilibrium Model of the U.S. Wage Structure, 1968-1996


PETER ARCIDIACONO, ANDREW BEAUCHAMP, and MARJORIE MCELROY, Duke University--Competing for the Opposite Sex: An Equilibrium Model of Sex and Dating


THOMAS G. KOCH, University of Texas-Austin--Bankruptcy, Medical Insurance and a Law with Unintended Consequences


JUAN PANTANO, University of California-Los Angeles--On Scarlet Letters and Clean Slates: Criminal Records Policy in a Dynamic Model of Human Capital Accumulation and Criminal Behavior



Jan. 4, 8:00 am



Social Comparison (D0)


Presiding: YAN CHEN, University of Michigan


CATHERINE ECKEL, University of Texas-Dallas, ENRIQUE FATAS, University of Valencia, and RICK WILSON, Rice University--Status in Networks


ERIN KRUPKA, Institute for the Study of Labor (IZA), and ROBERTO WEBER, Carnegie Mellon University--The Focusing and Observational Effects of Norms


JOHN DUFF and TATIANA KORNIENKO, University of Edinburgh-- Does Competition Affect Giving?


YAN CHEN, University of Michigan, MAX HARPER, JOSEF KONSTAN, University of Minnesota, and SHERRY XIN LI, University of Texas-Dallas--Social Comparisons and Contributions to Online Communities: A Field Experiment on MovieLens


Discussants: TATIANA KORNIENKO, University of Stirling

SHERRY XIN LI, School of Economics, University of Texas-Dallas

TIM CASON, Purdue University

STEPHAN MEIER, Federal Reserve Bank of Boston



Jan. 4, 8:00 am



Work-Life Voice: Examining the Relationship Between Different Forms of

Employee Voice and Flexible Working Time Arrangements Across Countries


Presiding: EILEEN APPELBAUM, Rutgers University


      PETER BERG, ELLEN KOSSEK, and KAUMUDI MISRA, Michigan State University--The Effect of Individual and Collective Voice on Employee Experiences with Flexible Working Time Policies and Practices


      HARTMUT SEIFERT, Wirtschafts- und Sozialwissenschaftliches Institut (WSI) in der
      Hans-Böckler-Stiftung--Flexible Working Time Patterns in Germany and the Role of Works Councils


      ANNA ILSØE, Copenhagen University--Trade-offs on Flexible Working Hours at the Company Level in Denmark, Germany, and the United States


      BARBARA POCOCK, University of Southern Australia--Working Time and Workplace Flexibility in Australia: Politics, Policy and Experience


Discussant: NETSY FIRESTEIN, Labor Project for Working Families



Jan. 4, 8:00 am



Work, Workers, Faith and Values


Presiding: ELLEN DANNIN, Pennsylvania State University


JILL KRIESKY, Institute Wheeling Jesuit University--Big Coal: Faith and Labor Collaboration in the Appalachians


RABBI JILL JACOBS, Jewish Funds for Justice --Poverty and Workers' Rights Through a Jewish Lens


ALISON M. SULENTIC, Bakers Botts LLC--Do Not Cast Me Aside in My Old Age:  Supporting Employees Who Care for Aging Parents


JOSE OLIVA, Interfaith Worker Justice--Faith, Works, and Workers


REVEREND JIM SESSIONS, United Methodist Church--Laboring for Worker Justice



Jan. 4, 8:00 am



Refereed Papers -- Labor Education/Labor Markets


Presiding:  ROBERT THORNTON, Lehigh University


KELLY WILLIAMS-WHITT, University of Lethbridge--Disability at Work and the Performance Paradox


PETER PHILLIPS, University of Utah--The NBA in Black and White: Changing Fan Reaction to the Presence of Blacks in Professional Basketball 1951-1997


COLETTE FRIEDRICH and ROBERTO HERNANDEZ, Massachusetts Institute of Technology--Job Queues: Gender and Race at the Application Interface


JOHN F. BURTON, JR. and STEVE GUO, Rutgers University--The Relationship Between Workers' Compensation and Disability Insurance


JI-YOUNG AHN, University of Illinois-Urbana-Champaign--Does Stock-Based Pay Mitigate Destructive Competition Among Top Executives?



Jan. 4, 8:00 am



Economics Education: Assessment of Student Learning and Performance (A2)


Presiding: PAUL W. GRIMES, Mississippi State University               


FEKRU DEBEBE, Educational Testing Service, ELLEN SEWELL, University of North Carolina-Charlotte, and ARTHUR RAYMOND, Muhlenberg College--Comparing the Performance of College and High School Students on the Advanced Placement Exams


WILLIAM BOSSHARDT, Florida Atlantic University, and NEELA MANAGE, Florida Atlantic University--A Matching Estimation of the Causal Effects on Student Performance in Introductory Economics Courses


KIMMARIE MCGOLDRICK, University of Richmond, and STEPHEN A. GREENLAW, University of Mary Washington--Practicing What We Preach: Undergraduate Research Experiences in Economics


MARTIN MILKMAN, Murray State University--AACSB Assessment and a Managerial Economics Group Project


Discussants:  HELEN ROBERTS, University of Illinois-Chicago

SHERYL BALL, Virginia Polytechnic Institute & State University

LESTER HADSELL, State University of New York-Oneonta

AVI COHEN, York University       



Jan. 4, 8:00 am



African Development and African Immigration (O1)


Presiding: ROMIE TRIBBLE, Spelman College


JULIET ELU, Spelman College--Private Foreign Direct Investment in ACP Countries: The Impact of Migrant Remittance on Economic Growth and Development


LEONIDAS MUREMBYA, Michigan Bureau of Labor Market Information and Strategic Initiatives--How are Children of Immigrants Faring in the U.S. Job Market?"


WARREN C. WHATLEY, University of Michigan--West Africa in the Emerging Atlantic Economy, 1450-1850


JULIET ELU, Spelman College--Economic Analysis of Terrorism: Rational Choice and Utility Maximization of Terrorist Behavior in Africa and South Asia


BROOKS ROBINSON, Black to Africa


Discussants: KWABENA GYIMAH-BREMPONG, University of South Florida

WILLIAM A. DARITY, JR., University of North Carolina

MWANGI WA GITHINJI, University of Massachusetts

ELIZABETH ASIEDU, University of Kansas

PATRICK MASON, Florida State University



Jan. 4, 8:00 am



Corporate Sector Volatility and Its Relation to Macroeconomic Risks  (G1)


Presiding: ROBERT BLISS, Wake Forest University


SEAN CAMPBELL, Federal Reserve Board--Stock Market Volatility and the Great Moderation


GUSTAVO SUAREZ, Federal Reserve Board--Firm Volatility & Banks: Evidence from U.S. Banking Deregulation


JESPER LINDE, TOR JACOBSON, Sveriges Riksbank, RIKARD NILSSON, Svenska Handelsbanken,  and KASPER ROSZBACH, Sveriges Riksbank--Default and Aggregate Fluctuations


LUIS SAN VINCENTE PORTES, Montclair State University--On Balance Sheets, Idiosyncratic Risk and Aggregate Volatility: Is Firm Volatility Good for the Economy?


Discussants:   ROBERT BLISS, Wake Forest University

ROCCO HUANG, European Central Bank

DRAGON TANG, Kennesaw State University

JAMES WESTON, Rice University



Jan. 4, 8:00 am



War and Political Instability (D7)


Presiding: MICHAEL INTRILIGATOR, University of California-Los Angeles


EDWARD L. GLAESER, Harvard University--The Political Economy of Warfare


CARLOS SEIGLIE, Rutgers University--Globalization and War


GREGORY D. HESS, Claremont McKenna College--The Welfare Costs of Conflict


SOLOMON POLACHEK, State University of New York-Binghamton, and DARIA SEVASTIANOVA, University of Southern Indiana--Evidence On the Extent Sociopolitical Instability Decreases A Nation's Economic Performance


Discussants: MICHAEL INTRILIGATOR, University of California-Los Angeles

LUIS LOCAY, University of Miami



Jan. 4, 8:00 am



Reevaluating Old Issues with Novel Data Sets


Presiding: GREGORY KURTZON, U.S. Bureau of Labor Statistics

TRICIA GLADDEN, U.S. Bureau of Labor Statistics--Re-examining the Impact of the Computer Age on the U.S. Labor Market


GREGORY KURTZON, U.S. Bureau of Labor Statistics--Do the Poor Pay More Store-by-Store?


      MARC FUSARO, East Carolina University--Bank Markets Concentration: Don't Forget about Credit Unions


Discussants: PETER MEYER, U.S. Bureau of Labor Statistics

BRADLEY HEIM, U.S. Department of the Treasury

TRICIA GLADDEN, U.S. Bureau of Labor Statistics

      MARC FUSARO, East Carolina University


Jan. 4, 8:00 am



Recent Research on Economic Inequality in the Third World (O1)


Presiding: MELISSA MAHONEY, New School for Social Research and Levy Economics Institute of Bard College


      MERRILEE MARDON, Connecticut College--Land Rights, Lone Mothers and the Educational Attainment of Adolescents in Brazil's Agrarian Reform?


      TOM MASTERSON, Levy Economics Institute of Bard College--Female Land Rights and Household Consumption in Paraguay, 2001


      VAMSI VAKULABHARANAM, Queens College, City University of New York, and AJIT ZACHARIAS, Levy Economics Institute of Bard College--Economic Reforms, Caste and Economic Inequality in India, 1991-2004


      BOB REINAUER, University of Massachusetts-Amherst--A Living Wage in Guatemala: An Estimate Using LSMS Data


Discussants: STEPHANIE SEGUINO, University of Vermont

      ARJUN JAYADEV, University of Massachusetts-Boston



Jan. 4, 8:00 am



Gender Bending: Expanding Feminist Political Economy (J1)


Presiding: ELLEN MUTARI, Richard Stockton College of New Jersey


      ELISSA BRAUNSTEIN, Colorado State University, CAREN GROWN, Levy Institute, and DIANE ELSON, University of Essex--Gender and Corporate Taxation in the U.S.: An Analysis of Trends 1970-2005


      MICHAEL BRUN, Illinois State University, and MARIANNE A. FERBER, University of Illinois-Ubana Champaign--How Do Women-Friendly Policies Affect Men?


      PADDY QUICK, St. Frances College--Unpaid, Reproductive, Caring Labor? The Production of Labor Power? The Theoretical Implications of Terms Used to Describe Women's Work


      JANE E. MILLER, and YANA VAN DER MEULEN RODGERS, Rutgers University--"Significance" versus "Importance": Substantive and Statistical Considerations in Empirical Research


Discussants: DRUCILLA BARKER, University of South Carolina

      ELLEN MUTARI, Richard Stockton College of New Jersey



Jan. 4, 10:15 am



Development Policy in Africa (O5)


Presiding: PAUL COLLIER, Oxford University, United Kingdom


      MINA BALIAMOUNE-LUTZ, University of North Florida, and LEONCE NDIKUMANA, University of Massachusetts-Amherst and ANECA, Addis Ababa--Export Diversification and Growth: The Case of African Economies


      YAW NYARKO, New York University--Economic Development as Problem Solving


      EDWARD GHARTEY, University of West Indies--Tax, Spend and Causality in Ghana: 1965-2004


      R. CHARLES SEBUHARARA, State University of New York-Binghamton--Liberalization and Financial Development: Some Evidence from Africa


      ALBERT OKUNADE, University of Memphis--Specific Health Sector Inputs and African Development: The Case of Health, Human Capital and Pharmaceuticals


Discussants: MWANGI WA GITHINJI, University of Massachusetts-Amherst

      MESFIN BEZUNEH, Clark Atlanta University

      ELIZABETH ASIEDU, University of Kansas

      DANIEL GBETNKOM, University of Yaunde II and UNECA

      JULIET ELU, Spelman College



Jan. 4, 10:15 am



Biofuels -- Long-Run Implications for Food Security and the Environment (Q4)


Presiding: PRABHU L. PINGALI, United Nations, Food and Agriculture Organization


      SIWA MSANGI  and MARK W. ROSEGRANT, International Food Policy Research Institute--Biofuel Production and World Agriculture -- Prospects to 2020


      PRABHU L. PINGALI, TERRI RANEY, and KEITH WIEBE, United Nations, Food and Agriculture Organization--Biofuels and Food Security -- Conflict or Complement?


      GERALD C. NELSON, University of Illinois-Urbana-Champaign--Biofuels and the Environment -- Green Gold or Green Wash?


Discussant:  BRUCE MCCARL, Texas A&M University  



Jan. 4, 10:15 am



Design and Reform of Institutions in LDCs and Transition Economies (This session is

dedicated to the memory of John McMillan (1951-2007), who was to have been an author in the session.)


Presiding: AVINASH DIXIT, Princeton University            


WILLIAM EASTERLY, New York University--Institutions: Top Down or Bottom Up?


DANI RODRIK, Harvard University--Heterodox Reform


AVNER GREIF, Stanford University, and YADIRA GONZALEZ DE LARA, Stanford University and University of Alicante--Self-enforcing Constitutions and Economic Prosperity: Lessons from History


Discussant: KARLA HOFF, World Bank



Jan. 4, 10:15 am



Expertise and Macroeconomic Policy


Presiding: DONALD L. KOHN, Federal Reserve Board


TIMOTHY BESLEY, London School of Economics--Insiders versus Outsiders in Monetary Policy-Making


ALAN BLINDER, Princeton University, and JOHN MORGAN, University of California-Berkeley--Does Leadership Produce Better Monetary Policy?  An Experimental Study


CHRISTINA D. ROMER and DAVID H. ROMER, University of California-Berkeley--Expertise and Monetary Policy:  The FOMC versus the Staff


Discussants: DONALD L. KOHN, Federal Reserve Board

JUSTIN WOLFERS, University of Pennsylvania

VINCENT REINHART, American Enterprise Institute



Jan. 4, 10:15 am



Toward the Microtheory of Entrepreneurship (L2)


Presiding: WILLIAM BAUMOL, New York University


DANIEL SPULBER, Northwestern University--Entrepreneurs in the Theory of the Firm


DAVID AUDRETSCH, Indiana University and Max Planck Institute--The Knowledge Spillover Theory of Entrepreneurship


VINCY FON, George Washington University and National Science Foundation, and

YING LOWREY, U.S. Small Business Administration and George Washington University--A Microeconomic Approach to the Entrepreneur


WILLIAM BAUMOL, New York University--The Price Theory of Entrepreneurship


Discussants:  ROBERT STROM, Ewing Marion Kauffman Foundation

RAJSHREE AGARWAL, University of Illinois

JOSHUA LERNER, Harvard University

JIAWEN YANG, George Washington University



Jan. 4, 10:15 am



Rare Disasters and Asset Markets (G1)


Presiding: JOHN CAMPBELL, Harvard University


ROBERT BARRO and JOSE URSUA, Harvard University--Consumption Disasters in the 20th Century


XAVIER GABAIX, New York University--A Unified Explanation for the Major Asset-Pricing Puzzles


FRANCOIS GOURIO, Boston University--Rare-Disaster Explanations of the Equity-Premium Puzzle


IAN MARTIN, Harvard University--Consumption-Based Asset Pricing with Higher Cumulants


Discussant: JOHN CAMPBELL, Harvard University



Jan. 4, 10:15 am



Economics of Traffic Safety: Children, Teenagers and the Elderly (R4)


Presiding: STEVE LEVITT, University of Chicago


STEVE LEVITT, University of Chicago, and JOSEPH DOYLE, Massachusetts Institute of Technology--Evaluating the Effectiveness of Child Safety Seats and Seat Belts in Protecting Children from Injury


PINAR KARACA-MANDIC and GREG RIDGEWAY, RAND--Graduated Driver Licensing: Lower Risk Exposure or Better Driving?


THOMAS DEE, Swarthmore College--Born to be Mild: The Effectiveness of Motorcyclce Helmets in Preventing Injuries


DAVID LOUGHRAN and SETH SEABURY, RAND--The Relative Riskiness of Older Drivers


Discussants: JOHN J. DONOHUE, Yale University

RAJEEV DEHEJIA, Tufts University

LIRAN EINAV, Stanford University

ANINDYA SEN, University of Waterloo



Jan. 4, 10:15 am



Convergence in Macroeconomics? (E0)


Presiding: OLIVIER BLANCHARD, Massachusetts Institute of Technology


RICARDO CABALLERO, Massachusetts Institute of Technology --Convergence in Macroeconomics?


PATRICK KEHOE, University of  Minnesota--Convergence in Macroeconomics?


ROBERT SHIMER, University of Chicago--Convergence in Macroeconomics?


MICHAEL WOODFORD, Columbia University--Convergence in Macroeconomics?


Discussants:  To be announced.



Jan. 4, 10:15 am



Learning from Your Colleagues? Theory and Evidence (O3)


Presiding: EDWARD GLAESER, Harvard University


HAN KIM, ADAIR MORSE, University of Michigan, and LUIGI ZINGALES, University of Chicago--Are Elite Universities Losing Their Competitive Edge?


PIERRE AZOULAY, Massachusetts Institute of Technology, JOSHUA ZIVIN, Columbia University, and JIALAN WANG, Massachusetts Institute of Technology--Superstar Extinction: The Effect of Coauthor Death on Research Productivity in the Academic Life Sciences


BRUCE WEINBERG, Ohio State University--Geography and Innovation: Evidence from Nobel Laureate Scientists


ETTORE DAMIANO, HAO LI, University of Toronto, and WING SUEN, University of Hong Kong--First in Village or Second in Rome


Discussants:   ANTONIO CICCONE, University of Pompeu Fabra

BRONWYN HALL, University of California-Berkeley and  Maastricht University

DANIEL HAMERMESH, University of Texas

LUIS GARICANO, University of Chicago



Jan. 4, 10:15 am



Globalization and International Labor Mobility (F2)


Presiding: JOHN MCLAREN, University of Virginia


MICHAEL KREMER, Harvard University, Brookings Institution, Center for Global Development, and NBER, and STANLEY WATT, International Monetary Fund--The Globalization of Household Production


SANJAY JAIN, University of Virginia, and SHARUN MUKAND, Tufts University--Workers Without Borders? Culture, Migration and the Political Limits to Globalization


GORDON HANSON, University of California-San Diego and NBER--International Migration Policy


GIOVANNI FACCHINI, University of Illinois-Urbana Champaign, Universita' degli Studi di Milano and CEPR, and ANNA MARIA MAYDA, Georgetown University, CEPR and IZA--Endogenous Migration Policy Through Majority Voting: An Empirical Investigation


Discussants: DALIA MARIN, University of Munich

GERALD WILLMANN, University of Kiel and University of Otago

DEAN YANG, University of Michigan

GIOVANNI PERI, University of California-Davis



Jan. 4, 10:15 am



Charitable Contributions--Theory and Experimental Evidence (H4)


Presiding: JOHN LIST, University of Chicago


LISE VESTERLUND, University of Pittsburgh, MARK WILHELM, Indiana University Purdue University-Indianapolis, and HUAN XIE, University of Pittsburgh--An Experimental Test of the Impure Altruism Model of Giving


RACHEL CROSON, University of Texas-Dallas, FEMIDA HANDY, University of Pennsylvania, and JEN SHANG, Indiana University--Keeping Up with the Joneses: The Relationship between Norms, Social Information and Subsequent Charitable Giving


WILLIAM HARBAUGH, ULRICH MAYR,University of Oregon, and DAN BURGHART, New York University--Neural Responses to Taxation and Voluntary Giving Reveal Motives for Charitable Donations


ANDREAS LANGE and ANDREW STOCKING, University of Maryland--On the Dynamics of Charitable Fundraising


Discussants: STEPHAN MEIER, Federal Reserve Bank of Boston

CATHERINE ECKEL, University of Texas-Dallas



Jan. 4, 10:15 am



Inferring Labor Income Risk from Economic Choices: New Developments (D9)


Presiding: JAMES HECKMAN, University of Chicago


SALVADOR NAVARRO, University of Wisconsin-Madison--A Reconsideration of the Importance of Borrowing Constraints, Uncertainty and Preferences in College Attendance Decisions: Using Observed Choices to Infer Agent's Information


FATIH GUVENEN, University of Texas-Austin, and ANTHONY SMITH, Yale University--Inferring Labor Income Risk from Economic Choices: An Indirect Inference Approach


RICHARD BLUNDELL, University College London, HAMISH LOW, University of Cambridge, and IAN PRESTON, University College London--Decomposing Income Risk Using Consumption and Income Data



Discussants: GIANLUCA VIOLANTE, New York University

ROBERT MOFFITT, Johns Hopkins University



Jan. 4, 10:15 am



Salience and Taxation (H2)


Presiding: AMY FINKELSTEIN, Massachusetts Institute of Technology


RAJ CHETTY, University of California-Berkeley, ADAM LOONEY, Federal Reserve Board, and KORY KROFT, University of California-Berkeley--Salience and Taxation: Theory and Evidence


AMY FINKELSTEIN, Massachusetts Institute of Technology--E-Z Tax: Tax Salience and Tax Rates


JEFFREY LIEBMAN and RICHARD ZECKHAUSER, Harvard University--Schmeduling


Discussants: DOUGLAS BERNHEIM, Princeton University

PAUL OYER, Stanford University




Jan. 4, 10:15 am



Globalization and Its Impact on Workers (J2)


Presiding: STEVEN DAVIS, University of Chicago and American Enterprise Institute


KEVIN HASSETT and APARNA MATHUR, American Enterprise Institute--Taxes and Wages


STEVEN DAVIS, University of Chicago and American Enterprise Institute--What Happened to Employment Stability in America?


J. BRADFORD JENSEN, Peterson Institute, and LORI G. KLETZER, University of California-Santa Cruz--Measuring the Scale and Scope of Services Trade


RICHARD FREEMAN, Harvard University--Are Globalization and Labor Standards Antipodes?


Discussants: STEVEN DAVIS, University of Chicago and American Enterprise Institute

APARNA MATHUR, American Enterprise Institute

RICHARD FREEMAN, Harvard University

LORI KLETZER, University of California-Santa Cruz



Jan. 4, 10:15 am



Matching Markets (C7)


Presiding: LONES SMITH, University of Michigan


FEDERICO ECHENIQUE, Caltech--What Matchings Can Be Stable? The Testable Implications of Matching Theory.


ROBIN LEE, Harvard University, and MICHAEL SCHWARZ, Yahoo! Research--Interviewing and Dating in Two-Sided Matching Markets


ARCHISHMAN CHAKRABORTY, Baruch College, City University of New York, and ALESSANDRO CITANNA, HEC Paris, and MICHAEL OSTROVSKY, Stanford University--Two-Sided Matching with Interdependent Values


LONES SMITH, University of Michigan--Contagious Matching Games


Discussants: JEREMY FOX, University of Chicago

LONES SMITH, University of Michigan

EMIR KAMENICA, University of Chicago

PARAG PATHAK, Harvard University



Jan. 4, 10:15 am



New Models of International Business Cycles


Presiding: PAOLO PESENTI, Federal Reserve Bank of New York


SOYOUNG KIM, Korea University, and JAEWOO LEE, International Monetary Fund--A New Open-Macro Interpretation of International Fluctuations


LAURA VELDKAMP, New York University--Trade, Learning and Business Cycle Synchronization


ANDREA FERRERO, Federal Reserve Bank of New York--The Long Run Determinants of the U.S. Trade Deficit


Discussant: DAVID BACKUS, New York University

POL ANTRAS, Harvard University

      CEDRIC TILLE, Graduate Institute for International Studies, Geneva



Jan. 4, 10:15 am



Micro-evidence of Corruption in Emerging Economies


Presiding: FRED FINNAN, University of California-Los Angeles


PENG SUN and YI ZHANG, Peking University--Is There Penalty For Crime? Corporate Scandal and Management Turnover in China


FREDERICO FINAN, University of California-Los Angeles, and CLAUDIO FERRAZ, IPEA--Exposing Corrupt Politicians: The Effects of Brazil's Publicly Released Audits on Electoral Outcomes


FENG LU, Northwestern University--Profiting from Gaizhi: Management  Buyouts during China's Privatization


PEDRO VICENTE, University of Oxford--Is Vote Buying Effective? Evidence from a Randomized Experiment in West Africa


Discussants: SHAWN COLE, Harvard Business School

ATIF MIAN, University of Chicago

ASIM KHWAJA, Harvard University




Jan. 4, 10:15 am



Technological Change, Education Returns, and Earnings Inequality: The Experience of Growing Asian Economies  (J3)


Presiding: JIN HWA JUNG, Seoul National University


LIU XUEJUN, Beijing Normal University, ALBERT PARK, Oxford University, and YAOHUI ZHAO, Peking University--Explaining Rising Returns to Education in Urban China


DAIJI KAWAGUCHI, Hitotsubashi University--Declining Return to Education in Japan: 1982-2002


JIN HWA JUNG, Seoul National University, and KANG-SHIK CHOI, Yonsei University--Technological Change and Returns to Education: Implications for the S&E Labor



TAO LI, Shanghai Uniiversity of Fnance and Economics--Why Chinese College Graduates Can't Find Jobs When Its Economy Soars?


Discussants: DAVID LEE, Princeton University

JAY MIN LEE, Yonsei University

TAO LI, Shanghai University of Finance and Economics

ALBERT PARK, OxfordUniversity




Jan. 4, 10:15 am



Reform: For Better or for Worse?


Presiding: GENE GROSSMAN, Princeton University


GENE GROSSMAN, Princeton University, and EDWIN LAI, Singapore Management University--Parallel Imports and Price Controls


NAERCIO MENEZES, IBMEC Sao Paulo, and MARC-ANDREAS MUENDLER, University of California-San Diego--Labor Reallocation in Response to Trade Reform


IVAN KANDILOV, North Carolina State University--Trade and Wages Revisited: The Effect of China's MFN Status on the Skill Premium in U.S. Manufacturing


BENJAMIN LIEBMAN, Saint Joseph's University, and KASAUNDRA TOMLIN, Oakland University--Reward and Punishment under the Byrd Amendment


Discussants: KEITH MASKUS, University of Colorado

      PENNY GOLDBERG, Princeton University



Jan. 4, 10:15 am



Political Economy in Developing Countries:  Evidence from India


Presiding: PADMA DESAI, Columbia University


RAJASHRI CHAKRABARTI, Federal Reserve Bank of New York, and JOYDEEP ROY, Georgetown University and Economic Policy Institute--Gains from a Redrawing of Political Boundaries:  Evidence from State Reorganization in India


NANDINI KRISHNAN, Boston University--Political Reservations and Rural Public Good Provision


SUJATA VISARIA, Boston University, ERICA FIELD, and ROHINI PANDE, Harvard University--Residential Segregation and Religious Violence:  Consequences for Long-Term Socio-economic Outcomes in Ahmedabad, India


LAKSHMI IYER, Harvard Business School, and ANANDI MANI, Boston University--

Traveling Agents:  Political Change and Bureaucratic Turnover in India


Discussants: AMRITA DHILLON, University of Warwick

ABIGAIL PAYNE, McMaster University

LORI BEAMAN, University of California-Berkeley

BIJU RAO, World Bank



Jan. 4, 10:15 am



Research on Undergraduate Economics Courses and Majors    


Presiding:  MICHAEL WATTS, Purdue University


KENNETH G. ELZINGA, and DANIEL MELAUGH, University of Virginia--30,000 Principles Students: Some Lessons Learned


STEVEN C. MYERS, MICHAEL A. NELSON, and RICHARD W. STRATTON, University of Akron--Weathering the Perfect Storm or Thriving in a New Environment: Assessing a Proficiency-Based Economics Major


      LESTER HADSELL, State University of New York-Oneonta--The Economics Classroom without Grades: Promoting a Learning Environment by De-emphasizing Grades


      WILLIAM P. O'DEA and DAVID W. RING, State University of New York-Oneonta--The Impact of Aplia on Student Performance in Intermediate Microeconomics Courses


Discussants: DAVID C. COLANDER, Middlebury College

      STEPHEN BUCKLES, Vanderbilt University

MARY ELLEN BENEDICT, Bowling Green State University

WILLIAM BOSSHARDT, Florida Atlantic University



Jan. 4, 10:15 am



Globalization, Global Imbalances and China (F3)


Presiding: YIN-WONG CHEUNG, University of California-Santa Cruz


      JEFFREY FRANKEL, Harvard University--The Estimation of Weights in Asian Currency Baskets


      ROBERTO CHANG, Rutgers University, and LUIS CESPEDES, Banco de Chile--Country Risk, Exchange Rates, and Economic Fluctuations in Emerging Economies


      SHANG-JIN WEI, International Monetary Fund--The Domestic Financial System and International Capital Flows


      ROBERT FEENSTRA, University of California-Davis, and CHANG HONG, International Monetary Fund--China's Trade and Employment


Discussants: NELSON MARK, University of Notre Dame

      ESWAR PRASAD, Cornell University

      JOSHUA AIZENMAN, University of California-Santa Cruz

      LEONARD CHENG, Hong Kong University of Science and Technology



Jan. 4, 10:15 am



Performance Measurement in the Health Care Sector


Presiding: DONALD E. YETT, University of Southern California


MICHAEL CHERNEW and TERESA GIBSON, Harvard University--Cost Sharing and Health System Performance


KATHLEEN J. MULLEN, RICHARD FRANK, and MEREDITH B. ROSENTHAL, Harvard University--Can You Get What You Pay For?  Pay-For-Performance and the Quality of Healthcare Providers


BURTON A. WEISBROD, Northwestern University--Performance in Collective-Good Markets for Charity Care, Education, and Research: Do Public, Nonprofit, and For-Profit Hospitals Differ?


Discussants:   KEVIN VOLPP, University of Pennsylvania

RACHEL WARNER, University of Pennsylvania

DAVID MELTZER, University of Chicago



Jan. 4, 10:15 am



Macroeconomic Factors Impacting Poverty and Income Distribution among

African Americans


Presiding: GARY A. HOOVER, University of Alabama


      WILLIAM M. RODGERS III, Rutgers University--The Impact of Monetary Policy on the Duration and Type of Unemployment by Race and Sex


      REBECCA M. BLANK, University of Michigan, and DAVID CARD, University of California-Berkeley--Income, Family Structure, and Poverty among African Americans


      PHILIP N. JEFFERSON, Swarthmore College--Poverty Volatility and Macroeconomic Quiescence


      GARY A. HOOVER, WALTER ENDERS, University of Alabama, and DONALD G. FREEMAN, Sam Houston State University--Non-White Poverty and the Macroeconomy: The Impact of Growth


Discussants: MEL STEPHENS, Carnegie Mellon University

      ALAN KRUEGER, Princeton University

      HILARY HOYNES, University of California-Davis

      WILLIAM SPRIGGS, Howard University



Jan. 4, 10:15 am



Market Timing and Corporate Finance

Presiding: MALCOLM BAKER, Harvard Business School


DIRK C. JENTER, Stanford University, KATHARINA LEWELLEN, Dartmouth College, and JEROLD B. WARNER, University of Rochester--Security Issue Timing: What Do Managers Know, and When Do They Know It?


STEFANO DELLAVIGNA, University of California-Berkeley, and JOSHUA MATTHEW POLLET , University of Illinois-Urbana-Champaign--Capital Budgeting vs. Market Timing: An Evaluation Using Demographics


AYDOGAN ALTI and JOHAN A. SULAEMAN, University of Texas-Austin--When Do High Stock Returns Trigger Equity Issues?


MICHAEL G. HERTZEL and ZHI LI, Arizona State University--Behavioral and Rational Explanations of Stock Price Performance Around SEOS: Evidence from a Decomposition of Market-to-Book Ratios


Discussants: RYAN TALIAFERRO, Harvard Business School
CHRISTOPHER POLK, London School of Economics & Political Science
JAY RITTER, University of Florida
MATTHEW RHODES-KROPF, Columbia University



Jan. 4, 10:15 am



Corporate Bankruptcy and Financial Distress

Presiding: ANTONIO BERNARDO, University of California-Los Angeles


VIRAL V. ACHARYA, London Business School, and KRISHNAMURTHY SUBRAMANIAN, Emory University--Bankruptcy Codes and Innovation


EFRAIM BENMELECH, Harvard University, and NITTAI BERGMAN, Massachusetts Institute of Technology--Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines


DOUGLAS G. BAIRD, University of Chicago, ARTURO BRIS, IMD International, and NING ZHU, Yale School of Management--The Dynamics of Large and Small Chapter 11 Cases: an Empirical Study


Discussants: MARK GARMAISE, University of California-Los Angeles
ANDREA EISFELDT, Northwestern University
PER STRÖMBERG, Swedish Institute for Financial Research



Jan. 4, 10:15 am



Information Flows in Institutional Portfolios


Presiding: MARCIN KACPERCZYK, University of British Columbia


ANDREA FRAZZINI, University of Chicago, CHRISTOPHER J. MALLOY, and LAUREN COHEN, Harvard Business School--The Small World of Investing: Board Connections and Mutual Fund Returns


VICTORIA IVASHINA, Harvard Business School, and ZHENG SUN, New York University--Institutional Investors and Loan Market Information Spillover


SWASTI GUPTA-MUKHERJEE, Georgia Institute of Technology--Informal Information Networks: The Impact on Performance of Mutual Fund Portfolios


Discussants: CLEMENS SIALM, University of  Texas-Austin
MURRAY CARLSON, University of British Columbia
AMIT SERU, University of  Chicago



Jan. 4, 10:15 am



Empirical Asset Pricing in the Cross-Section and Time Series


Presiding: ANNETTE VISSING-JORGENSEN, Northwestern University


JOAO F. GOMES, University of Pennsylvania, LEONID KOGAN, Massachusetts Institute of Technology, and MOTOHIRO YOGO, University of Pennsylvania--Durability of Output and Expected Stock Returns


HANNO N. LUSTIG, University of California-Los Angeles, STIJN VAN NIEUWERBURGH, New York University, and ADRIEN VERDELHAN, Boston University--The Wealth-Consumption Ratio: A Litmus Test for Consumption-Based Asset Pricing Models


LORENZO GARLAPPI, University of Texas-Austin, and HONG YAN, University of South Carolina--Financial Distress and the Cross Section of Equity Returns


Discussants: STIJN VAN NIEUWERBURGH, New York University
DANA KIKU, University of Pennsylvania
LU ZHANG, University of Michigan-Ann Arbor



Jan. 4, 10:15 am



International Stock Markets


Presiding: GEERT BEKAERT, Columbia University


SANJEEV BHOJRAJ and DAVID NG, Cornell University--Country Factors in Firm Valuation Ratios


KEE-HONG BAE, ARZU OZOGUZ, and HONGPING TAN, Queen's University--Do Foreigners Facilitate Information Transmission?


JOHN M. GRIFFIN, University of Texas-Austin, PATRICK J. KELLY, University of South Florida, and FEDERICO NARDARI, Arizona State University--Measuring Short-Term International Stock Market Efficiency


LOUIS JOSEPH GAGNON, Queen's University, GEORGE ANDREW KAROLYI, and KUAN-HUI LEE, Ohio State University--The Dynamic Volume-Return Relationship of Individual Stocks: The International Evidence


Discussants: STEPHAN SIEGEL, University of Washington
KATHY YUAN, University of Michigan-Ann Arbor
RANDALL MORCK, University of Alberta
JOHN GRIFFIN, University of Texas-Austin



Jan. 4, 10:15 am





Presiding: KOSE JOHN, New York University


BO BECKER, ZORAN IVKOVICH, and SCOTT J. WEISBENNER, University of Illinois-Urbana-Champaign--Local Dividend Clienteles


AMIR RUBIN and DANIEL R. SMITH, Simon Fraser University--Institutional Ownership, Volatility and Dividends


DAVID J. DENIS, NAVEEN D. DANIEL, and LALITHA NAVEEN, Purdue University--Do Firms Manage Earnings to Meet Dividend Thresholds?


GUSTAVO GRULLON, Rice University, and RONI MICHAELY, Cornell University--Corporate Payout Policy and Product Market Competition


Discussants: JEFFREY WURGLER, New York University
YANIV GRINSTEIN, Cornell University
ANZHELA KNYAZEVA, New York University
GORDON PHILLIPS, University of Maryland



Jan. 4, 10:15 am



Housing Market Dynamics  (R3)


Presiding: MORRIS DAVIS, University of Wisconsin


STUART GABRIEL, University of California-Los Angeles, CHRISTIAN L. REDFEARN, University of Southern California, and RICHARD K. GREEN, George Washington University--Fundamentals, Financial Innovations, and Constraints: A Taxonomy of Metropolitan House Price Dynamics


ZHENGUO LIN, ANDRE H. GAO, CHIONGLONG KUO, and FANGZHOU CARRIE NA, Fannie Mae--Housing Market Dynamics: Fundamental Price, Overvaluation, Mean Reverting, and Downward Rigidity


NANCY E. WALLACE and DONALD WALLS, University of California-Berkeley--The Dynamics of Job Creation and Destruction over the Size Distribution of Cities


NORMAN MILLER, University of Cincinnati, and LIANG PENG, University of Colorado-Boulder--Time Varying Trading Volume and the Economic Impact of the Housing Market


Discussants:  MARCO DEL NEGRO, Federal Reserve Bank of New York

PAUL WILLEN, Federal Reserve Bank of Boston
IOURII MANOVSKII, University of Pennsylvania

      TONI WHITED, University of Wisconsin



Jan. 4, 10:15 am



Default Risk (G1)


Presiding: AMY CREWS CUTTS, Freddie Mac


CYNTHIA HOLMES, Florida State University, and MICHAEL LACOUR-LITTLE, California State University-Fullerton--An Empirical Test of the Equity Dilution Hypothesis


TYLER YANG, IFE Group, CHE-CHUN LIN, National Tsing Hua University, and MAN CHO, KDI School--Default Risk and Relative Values of Exotic Mortgage Products: A Multi-Factor Simulation Approach


JUN CHEN and JINBAO TONG, Property & Portfolio Research, Inc.--The Spatial Dependency of Loss Given Default of Commercial Mortgages


V. CARLOS SLAWSON, JR., Louisiana State University--Underwater Mortgages


Discussants: JAMES BERKOVEC, Freddie Mac
 ROBERT VAN ORDER, University of Michigan
 JAMES FOLLAIN, James R. Follain LLC



Jan. 4, 10:15 am



Employment and Poverty in Ukraine: Evidence from Firm- and Household-Level

Data (P3)


Presiding: JAN SVEJNAR, University of Michigan


      J. DAVID BROWN, Heriot-Watt University, and JOHN S. EARLE, Central European University--Innovation in Transition: Evidence from Firm-Level Data in Ukraine


      AMELIE CONSTANT, MARTIN KAHANEC, and KLAUS F. ZIMMERMAN, THOMAS DOHMEN, Institute for the  Study of Labor--The Russian-Ukrainian Labor Market Divide


      HARTMUT LEHMANN  and NORBERTO PIGNATTI,  University of Bologna--Informal Employment and Labor Market Segmentation in Transition Economies: Evidence from Ukraine.


      TILMAN BRUCK, ALEXANDER DANZER, ALEXANDER MURAVYEV, and NATALIA WEISSHAAR, German Institute for Economic Research, Berlin--Determinants of Poverty During Transition: Household Survey Evidence from Ukraine


Discussants: KATHERINE TERRELL, University of Michigan

      ELIZABETH BRAINERD, Williams College

      RICHARD POMFRET, University of Adelaide



Jan. 4, 10:15 am



Intra-Household Development Issues in Bangladesh

Presiding: Farida Khan, University of Wisconsin-Parkside


SHAREEN JOSHI, University of Chicago, and T. PAUL SCHULTZ, Yale University--Family Planning as an Investment in Development: Evaluation of a Program's Consequences in Matlab, Bangladesh

SIWAN ANDERSON and MUKESH ESWARAN, University of British Columbia--What Determines Female Autonomy? Evidence from Bangladesh

MARK M. PITT, Brown University, MARK R. ROSENZWEIG, Yale University, MD. NAZMUL HASSAN, Dhaka University--Short- and Long-Term Health Effects of Burning Biomass in the Home in Low-Income Countries

MUHAMMAD YUNUS, Grameen Bank--A Special Presentation by the Founder of the Grameen Bank


Discussant:  SHAHE EMRAN, George Washington University



Jan. 4, 10:15 am



How to Turn Economics into an Evolutionary Science? (B5)


Presiding: MALCOLM RUTHERFORD, University of Victoria


GEOFFREY HODGSON, University of Hertfordshire--How Veblen Generalized Darwinism

JAN-WILLEM STOELHORST, University of Amsterdam--Darwinian Foundations for Evolutionary Economics

ULRICH WITT, Max Planck Institute of Economics and University of Jena--Ontology and Heuristics in Evolutionary Economics: Back to Veblen?

CHRISTIAN CORDES, Max Planck Institute of Economics--The Role of Biology and Culture in Consumption Behavior

CLIFFORD S. POIROT JR., Shawnee State University--Eat Grubs and Live: The Habit-Instinct Problem in Evolutionary Economics


Discussants: MALCOLM RUTHERFORD, University of Victoria
WILLIAM WALLER, Hobart and William Smith Colleges


Jan. 4, 10:15 am



Gender, Institutions, and Economics in the Early Years (B5)


Presiding: DEB FIGART, Richard Stockton College


NANCY FOLBRE, University of Massachusetts-Amherst--Declaring Independence: Feminist Economics in the 19th Century U.S.

ANN MARI MAY and ROBERT DIMAND, Brock University--Managing "Trouble": Gender, Mentoring, and Professional Advancement in the Early Years of the American Economic Association


EDITH KUIPER, Amsterdam School of Economics, University of Amsterdam--Toward Economic Citizenship: Feminist Economists in the Days of Adam Smith


      RHONDA VONSHAY SHARPE, University of Vermont, WILLIAM A. DARITY, JR., Duke University, and OMARI SWINTON, Howard University--Are the Professional Paths of Doctorates Who Attended HBCUs, Hispanic Serving Institutions (HIS), or Women Colleges Different?


Discussants:  EVELYN FORGET, University of Manitoba

ROBERT PRASCH, Middlebury College



Jan. 4, 10:15 am



Land Use Change, Urban Sprawl, and Open Space (Q2)


Presiding: MARGARET WALLS, Resources for the Future


ELENA SAFIROVA, WINSTON HARRINGTON, SÉBASTIEN HOUDE, and CONRAD COLEMAN, Resources for the Future--Can Infill Fill the Gap? Evaluating Urban Growth Management Policies in a General Equilibrium Model of Land Use and Transportation


JORDAN SUTER, NELSON L. BILLS, DAVID L. KAY, and GREGORY L. POE, Cornell University--Assessing the Impact of Open Space on Residential Property Values in Urban, Suburban and Rural Areas: A Hedonic Pricing Study in Upstate New York


ANTONIO BENTO, Cornell University, SOFIA FRANCO, and DANIEL KAFFINE, University of California, Santa Barbara--Framework for Evaluating the Efficiency and Distributional Impacts of Anti-Sprawl Policies


SPENCER BANZHAF, Georgia State University, and R. WALSH--Distributional Effects of Local Environmental Improvements in Tiebout General Equilibrium


Discussants: JAN BRUECKNER, University of California-Irvine


RICHARD ARNOTT, Boston College

ANNA ALBERINI, University of Maryland



Jan. 4, 10:15 am



The Virtues in Economics


Presiding: ROBERT MOCHRIE, Heriot-Watt University, UK


      GORDON MENZIES, University of Technology, Sydney, and DONALD HAY, University of Oxford--Economics and the Marriage Wars


      DEIRDRE MCCLOSKEY, University of Illinois-Chicago--On Faith and Hope


      ANDREW YUENGERT, Pepperdine University--Models of Prudence


      ROBERT MOCHRIE, Heriot-Watt University, UK--Temperance and the Godly Commonwealth


Discussants: CARRIE MILES, George Mason University

PAUL OSLINGTON, University of New South Wales and Australian Defence Forces Academy

      JAMES HALTEMAN, Wheaton College

      PATRICK RAINES, Belmont University



Jan. 4, 10:15 am



Industry Studies (L1, L6)


Presiding: SUHAS L. KETKAR, Vanderbilt University


      BANANI NANDI, AT&T Labs, and CHANDANA CHAKRABORTY, Montclair State University--Broadband Diffusion and Its Driving Forces


      KUSUM KETKAR, Vanderbilt University--Outsourcing and Economic Development


      GOVINDA KOIRALA, University of Rio Grande--Inter-industry Wage Gap and Skill Upgrading in Nepalese Manufacturing


      SHAILENDRA GAJANAN, University of Pittsburgh, and DEVENDER MALHOTRA, University of Southern Maine--Size, Relative Dependency and Openness


      DHARMENDRA DHAKAL, Tennessee State University, KISHORE KULKARNI, Metropolitan State College of Denver, and KAMAL UPADHYAYA, University of New Haven--Consumption Pattern in an Open Economy Setting


Discussants: AMIT BATABYAL, Rochester Institute of Technology

      APARAJITA NANDI, Queens College, City University of New York

      SUSHANTA MALLICK, University of London

      MEENAKSHI RISHI, Seattle University



Jan. 4, 10:15 am



Paired Invited Session: Frontiers of Monetary Economics (E5)


Presiding: GEORGE-MARIOS ANGELETOS, Massachusetts Institute of Technology,


NEIL WALLACE, Pennsylvania State University--A New Model of Central-Bank Intervention


RANDALL WRIGHT, University of Pennsylvania--Inflation and Unemployment in the Long Run


Discussant: NOBUHIRO KIYOTAKI, Princeton University



Jan. 4, 10:15 am



Paired Invited Session: Combining Structural Models and Experimental Data (C0)


Presiding: EDWARD VYTLACIL, Columbia University


COSTAS MEGHIR, University College, London--Estimating Dynamic Models using Experimental Data


KEN WOLPIN, University of Pennsylvania--Ex Ante Policy Evaluation


Discussant: JOSEPH ALTONJI, Yale University



Jan. 4, 10:15 am



Experiments in Political Economy (D7)

Presiding: LEEAT YARIV, California Institute of Technology


GUILLAUME FRECHETTE, New York University, JOHN KAGEL, and MASSIMO MORELLI, Ohio State University--Pork Versus Public Goods: An Experimental Study of Public Good Provision Within a Legislative Bargaining Framework

JENS GROSSER, Florida State University, and THORSTEN GIERTZ, University of Cologne--Candidates, Voters, and Endogenous Group Formation: An Experimental Study


MARGARET MCCONNELL, BON CHAN KOH, JULIAN ROMER, and LEEAT YARIV, California Institute of Technology--Getting Out the (Costly) Vote: Institutional Design for Greater Participation

Discussants: MARCO BATTAGLINI, Princeton University

NAGEEB ALI, University of California-San Diego

NAVIN KARTIK, University of California-San Diego



Jan. 4, 10:15 am


The Plight of the Soldier


Presiding: THEA HARVEY, Economists for Peace and Security


LAWRENCE KORB, Center for American Progress--The All Volunteer Force and the Long War: When and How Should We Reinstitute Conscription? 


MAJOR GENERAL PAUL EATON, United States Army (ret.)--The American Soldier: Carrying the Entire Load for the Bush Administration?


DAVID LOUGHRAN, RAND Corporation, and JACOB KLERMAN, Abt Associates--The Effect of Activation on the Post-Activation Earnings of Reservists


LINDA BILMES, Harvard University--Veterans from Iraq and Afghanistan: Impediments to Securing Disability Benefits and Medical Care  



Jan. 4, 10:15 am



What Was/Is Financial Economics? (B2)


Presiding: STEPHEN BUSER, Ohio State University


GEOFFREY POITRAS, Simon Fraser University, and FRANCK JOVANOVIC, University of Quebec-Montreal--Pioneers of Financial Economics


HICHEM BEN-EL-MECHAIEKH and ROBERT DIMAND, Brock University--Louis Bachelier's 1938 Volume on the Calculus of Speculation:  Efficient Markets and Mathematical Finance in Bachelier's Later Work


PETER BERNSTEIN, Peter L. Bernstein, Inc.--In the Thick of This World:  The True Story of Modern Finance


PERRY MEHRLING, Barnard College, Columbia University--The Spirit of Finance and the Development of Macroeconomics



Jan. 4, 10:15 am



Hot Topics in Energy Modeling (Q4)


Presiding: CAROL DAHL, Colorado School of Mines


REID W. CLICK and ROBERT J. WEINER, George Washington University--Resource Nationalism Meets the Market: Modeling Political Risk and the Value of Petroleum Reserves


ERIN BAKER, University of Massachusetts, HAEWON CHON, University of Maryland, LEON CLARKE, Joint Global Change Research Institute, and JEFFREY KEISLER, University of Massachusetts--Uncertainty, Climate Change, and Advanced Solar R&D

THOMAS K. LEE, Marymount University, and JOHN ZYREN, U. S. Energy Information Administration--The Source and Transmission of Volatility in Petroleum Markets


CYNTHIA LIN, University of California-Davis--Do Firms Interact Strategically?: A Structural Model of the Multi-Stage Investment Timing Game in Offshore Petroleum Production


Discussants: DOUGLAS REYNOLDS, University of Alaska-Fairbanks

JAMES L. SMITH, Southern Methodist University

FREDERICK L. JOUTZ, George Washington University

WUMI ILEDARE, Louisiana State University



Jan. 4, 10:15 am



Preferences and Behavior: Methodological Issues


Presiding: JOHN B. DAVIS, Marquette University


GRAIG MCLAREN, University of California-Riverside--The Problem with Preferences


ERIK ANGNER, University of Alabama-Birmingham--The Foundations of Behavioral Welfare Economics


WOLFRAM LATSCH, University of Washington--Beyond Compare: Amartya Sen on Ranking and Reflection


FREDRIK HANSEN, Swedish National Road and Transport Research Institute--Formalization and Bounded Rationality: From an Ontological Point of View


Discussants: JOHN B. DAVIS, Marquette University



Jan. 4, 10:15 am



Recent Advances in Inventory Research (E3)


Presiding: ANDREAS HORNSTEIN, Federal Reserve Bank of Richmond

JAMES KAHN, Federal Reserve Bank of New York--Inventories and the Great Moderation Revisited

ANA MARIA HERRERA, Michigan State University, ZHENG LIU, and ELENA PESAVENTO, Emory University--Production Chains and the Business Cycles: A Model of Input and Output Inventories

VALERIE A. RAMEY, University of California San Diego, and DANIEL J. VINE, Federal Reserve Board--Segment Shifts and Capacity Utilization in the U.S. Automobile Industry: What Has Changed in 30 Years?


Discussants: ELENA PESAVENTO, Emory University
SCOTT SCHUH, Federal Reserve Bank of Boston
GEORGE HALL, Brandeis University


Jan. 4, 10:15 am



Legal Institutions and Economic Performance (K0, O0)


Presiding: DEAN LUECK, University of Arizona


JASON JOHNSTON, University of Pennsylvania, and MICHAEL FAURE, Maastricht University--Fashioning Entitlements: A Comparative Law and Economic Analysis of the Judicial Role in Environmental Centralization in the US and Europe


JONATHAN KLICK, Florida State University, BRUCE KOBAYASHI, George Mason University, and LARRY RIBSTEIN, University of Illinois--The Effect of Contract Regulation: The Case of Franchising


GARY D. LIBECAP, University of California-Santa Barbara, and DEAN LUECK, University of Arizona--Controlled versus Indiscriminate Property Demarcation: The Economic Effects of the Rectangular Survey


ANUP MALANI University of Chicago--Expectation of Future Laws



Jan. 4, 10:15 am



Labor Market Consequences of Organizational Change


Presiding: ANN BARTEL, Columbia University


      MARIA GUADALUPE, Columbia University--The Demand for Talent Evidence from the Market for CEOs


      JED DEVARO, Cornell University--Job Characteristics and Labor Market Discrimination in Promotions: New Theory and Empirical Evidence


      ALEXANDRE MAS, University of California-Berkeley--The Dynamics of Social Interactions in the Workplace


Discussants: KEVIN HALLOCK, Cornell University

      STEPHANIE LLUIS, University of Waterloo




Jan. 4, 10:15 am



Employee Voice and Participation in Organizations: New Approaches and Perspectives


Presiding:  PAUL J. GOLLAN, London School of Economics and Macquarie University, Sydney


JOHN W. BUDD, University of Minnesota, and STEFAN ZAGELMEYER, International University of Applied Sciences Bad Honnef-Bonn--Employee Voice is Not a Purely Private Affair: Public Policy Rationales and Initiatives in Support of Employee Participation


      RICHARD N. BLOCK and PETER BERG, Michigan State University--Collective Bargaining as Employee Participation in Organizations


      DAVID LEWIN, University of California-Los Angeles--Employee Voice and Mutual Gains


ALEX BRYSON, Policy Studies Institute, RAFAEL GOMEZ, and PAUL WILLMAN, London School of Economics--Voice in the Wilderness


Discussants: BRUCE KAUFMAN, Georgia State University



Jan. 4, 10:15 am



Rebuilding America's Industrial Regions


Presiding: FRANK GIARRATANI, University of Pittsburgh


      DAN LURIA, Michigan Manufacturing Technology Center--Full-Utilization Learning Lean: A Strategy for the Revitalization of Manufacturing in the Great Lakes Region


      HOWARD WIAL, Brookings Institution--The Role of Services in the Economic Development of Industrial Regions


      SEAN SAFFORD, University of Chicago--Unions and Economic Development in the Rust Belt


Discussants: SUSAN HELPER, Case Western Reserve University

      ERICA GROSHEN, Federal Reserve Bank of New York



Jan. 4, 10:15 am



Open Economy Macroeconomics Issues in the MENA Region (F4)


Presiding:  HADI SALEHI ESFAHANI, University of Illinois at Urbana-Champaign


WASSEEM MINA, UAE University--Does Property Rights Protection Matter for International Lending in the MENA Region?


MOHAMMED SALISU, LOBNA BOUSRIH, and SANA HARRABI, African Development Bank--Determinants of Firm Performance in Egypt and Algeria: Evidence from Investment Climate Survey Data


FIRAT DEMIR, University of Oklahoma--Profitability and Employment Responses to Financial Liberalization and Macroeconomic Volatility in Turkey


GHAZI BOULILA, AFRAH LARNAOUT GOUIDER, and MOHAMED TRABELSI, University of Tunis--Capital Account Liberalization and Business Cycles Volatility


YASMINA REEM LIMAM, MOHAMED TRABELSI,  and AFRAH LARNAOUT GOUIDER University of Tunis--Does Capital Account Liberalization Promote Growth?


SAMY BEN NACEUR, University of Tunis Carthage, SAMIR GHAZOUANI, University of Manouba, and MOHAMMED OMRAN, Cairo and Alexandria Stock Exchange--Does Stock Market Liberalization Spur Economic and Financial Development?


Discussants: NAGLA RIZK, American University in Cairo

AYCA TEKIN-KORU, Oregon State University

HASSAN ALY, Ohio State University

MINE CINAR, Loyola University of Chicago

SUUT DOGRUEL, Marmara University

ALI M. KUTAN, Southern Illinois University-Edwardsville



Jan. 4, 10:15 am



Accounting for Stock Options in the National Income Accounts


Presiding: ROSEMARY D. MARCUSS, U.S. Bureau of Economic Analysis


CYNTHIA A. GLASSMAN, U.S. Department of Commerce


S.P. KOTHARI, Massachusetts Institute of Technology


Discussants: R. GLENN HUBBARD, Columbia University



Jan. 4, 10:15 am



Financial Stability and Contagion (G1)


Presiding:  SEAN CAMPBELL, Federal Reserve Board


CHARLES KAHN, University of Illinois, and JOAO SANTOS, Federal Reserve Bank of New York--Endogenous Financial Fragility and Prudential Regulation


JOHN AMMER, CLARA VEGA           , Federal Reserve Board, and JON WONGSWAN, Barclays Global Investors--Do Fundamentals Explain the International Impact of U.S. Interest Rates? Evidence at the Firm Level


DIANA HANCOCK and WAYNE PASSMORE, Federal Reserve Board--The Measurement of Systemic Risks in Banking


SUJIT CHAKRAVORTI, Federal Reserve Bank of Chicago, and SUBIR LALL, International Monetary Fund--Contagion Across Small Markets from Large Foreign Investors


Discussants: NED PRESCOTT, Federal Reserve Bank of Richmond


LOUIS SCOTT, Morgan Stanley

MATT PRITSKER, Federal Reserve Board



Jan. 4, 10:15 am



John R. Commons Lecture and Award


Presiding: ROBERT R. EBERT, Baldwin-Wallace College


RACHEL MCCULLOCH, Brandeis University--Globalization and Inequality



Jan. 4, 10:15 am



New Developments in Labor Market Research


Presiding: GUIDO MENZIO, University of Pennsylvania


RICHARD ROGERSON and JOHANNA WALLENIUS, Arizona State University--Micro and Macro Elasticities in a Life Cycle Model with Taxes


PER KRUSELL, Princeton University, AYSEGUL SAHIN, and TOSHI MUKOYAMA, Federal Reserve Bank of New York--Wealth and Wages: A Search-Matching Perspective


MARK BILS, University of Rochester, YONGSUNG CHANG, Seoul National University, and SUN-BIN KIM, Korea University--Comparative Advantage in Cyclical Unemployment


GUIDO MENZIO, University of Pennsylvania, and SHOUYONG SHI, University of Toronto--Heterogeneity and Aggregate Fluctuations in a Directed Search Equilibrium



Jan. 4, 10:15 am



Economic Instability among U.S. Workers and Families


Presiding: JONATHAN A. SCHWABISH, Congressional Budget Office


KAREN E. DYNAN, DOUGLAS W. ELMENDORF, and DANIEL E. SICHEL, Federal Reserve Board--The Evolution of Aggregate and Household-Level Economic Volatility


THOMAS DELEIRE, MOLLY DAHL, and JONATHAN SCHWABISH, Congressional Budget Office--Variability in Workers' Earnings: The Frequency of, Trends in, and Causes of Large Earnings Reductions


CONSTANCE NEWMAN, DEAN JOLLIFFE, and MARK PRELL, U.S. Department of Agriculture--The Role of Food Stamps in Reducing Poverty over Time


Discussants: MAURY GITTLEMAN, U.S. Bureau of Labor Statistics

      AUSTIN NICHOLS, Urban Institute

      CRAIG GUNDERSEN, Iowa State University



Jan. 4, 10:15 am



Economic Policies in Venezuela (O5)


Presiding: AL CAMPBELL, University of Utah


      ROSE MARIA MARQUES, Pontifica Universidade Catolica de Sao Paolo--Social Policies and Inequalities in Venezuela


      PAULO NAKATANI, Federal University of Espirito Santo, Brazil--Structures, Changes, and Planning of the Economy of Revolutionary Venezuela


      MAURICIO SABADINI, University of Paris I--Oil, Money and Finance in the Boliviarian Revolution of Venezuela


      FELIX RIVAS, Central Bank of Venezuela, Caracas--The Monetary and Financial Policy of Venezuela


Discussants: AL CAMPBELL, University of Utah

      REMY HERRERA, University of Paris I



Jan. 4, 10:15 am



Toward a Political Economy of Stratification (J3)


Presiding: AJIT ZACHARIAS, Levy Economics Institute of Bard College


      WILLIAM DARITY, JR., University of North Carolina-Chapel Hill--Stratification Economics: The Role of Intergroup Inequality


      MELISSA MAHONEY, Levy Economics Institute of Bard College and New School for Social Research, and AJIT ZACHARIAS, Levy Economics Institute of Bard College--Gender Disparities in Employment and Aggregate Profitability in the United States


      PATRICK MASON, Florida State University--Social Capital and Intergenerational Mobility


      STEPHANIE SEGUINO, University of Vermont--The Threads That Bind: Race and Gender Stratification and the Macroeconomics of Inequality


Discussants: EDWARD WOLFF, Levy Economics Institute of Bard College and New York University

DIMITRI PAPADIMITRIOU, Levy Economics Institute of Bard College

KORKUT ERTURK, University of Utah



Jan. 4, 12:30 pm



Three Drivers of Distributional Shifts in Domestic Agricultural Policy (Q1)


Presiding: KEITH H. COBLE, Mississippi State University


      BRUCE BABCOCK, Iowa State University--The Distributional Impacts of Biofuels


      KEITH COBLE, Mississippi State University, and ROBERT DISMUKES, USDA-ERS--Comparing Integrated Commodity and Insurance Programs with Current Farm Policy


      BARRY GOODWIN, North Carolina State University--The Incidence and Implications of Payment Limits


Discussant: JOE GLAUBER, USDA           



Jan. 4, 12:30 pm



Joint Luncheon


Presiding: JEREMY STEIN, Harvard University


      R. GLENN HUBBARD, Columbia University



Jan. 4, 12:30 pm



ODE Invited Graduate Student Papers: Health and Environmental Issues (H0)


Presiding: ROBERT S. RYCROFT, University of Mary Washington


RASHMITA BASU and ROBERT ROSENMAN, Washington State University--Role of Healthy Lifestyle on Individual Decision Making for Disease Prevention: Implications for Government Policy on Alzheimer's Disease


JASON DELANEY and PAUL J. FERRARO, Georgia State University--Is Information News? A Reassessment of the Impact of the Toxics Release Inventory on Firm Value


JUERGEN JUNG and CHUNG TRAN, Indiana University--The Macroeconomics of Health Savings Accounts


MATTHEW SULZICKI, University of New Hampshire--Air Pollution and Elderly Health: The Effect of Outdoor Air Quality on Medicare Beneficiaries in Boston, Massachusetts


Discussants: XIAOXUN GAO, Indiana University

MARTIN PAREDES, New York University

SEAN MURPHY, Washington State University

JAMES MURRAY, Indiana University



Jan. 4, 12:30 pm



Mortgage Pricing  (G1)


Presiding: FRANK E. NOTHAFT, Freddie Mac


BARBARA A. BUKHVALOVA, Norwegian School of Management--Competitive Risk Premiums, Monitoring Costs and Lifetime Utility Maximization


JAMES IAN VICKERY, Federal Reserve Bank of New York--How Do Financial Frictions Shape the Product Market? Evidence from Mortgage Originations


ANDREA J. HEUSON, University of Miami--Mortgage Market Conditioning Variables and the Underwriting Spreads Faced by GSEs


SIMON FIRESTONE and PAUL CALEM, Freddie Mac--Credit Constraints and Homeownership


Discussants: To be announced.



Jan. 4, 12:30 pm



Economic and Reform of Large Countries: China and India's Recent Experiences (P5)


Presiding: JOHN BONIN, Wesleyan University


      ALICIA GARCIA-HERRERO, SERGIO GAVILA, and DANIEL SANTABARBARA, Bank of Spain, Spain--What Explains The Low Profitability of Chinese Banks?


      RICHARD ECKAUS, Massachusetts Institute of Technology--The Demand for the Exports of China and India


      YASHENG HUANG, Massachusetts Institute of Technology, and DAVID LI, Tsinghua University--R&D Investment and Efficiency: A China-India Comparison


      JOHN SUTTON, London School of Economics--The Advance of Manufacturing Capabilities in China and India


Discussants: GERARD ROLAND, University of California-Berkeley

      JAN SVEJNAR, University of Michigan

      YUMIKO OKAMOTO, Doshisha University, Japan



Jan. 4, 12:30 pm



Globalization, Public Policy, and Inequality  (F1)


Presiding: HAMID HOSSEINI, King's College


HAMID HOSSEINI, King's College--Rawlsian Ethics versus Utilitarianism: How Can the Global Economic Structure Become More Just?


OZLEM L. SARI, TUBITAK -- The Scientific and Technological Council of Turkey--Multicultural Sentiment and Anti-Immigrant Policies: Explaining Exclusionist Policy Orientations in Western European Countries


LISA MAGNANI, University of New South Wales--Global Public Goods and Public Policy. Understanding the Effect of Demographic Trends and Labour Market Institutions on the Demand for Public Environmental Protection


WIM HEIJMAN and JAN VAN OPHEM, Wageningen University--Income and Happiness:  Puzzles and Paradoxes


Discussants: JANE CLARY, College of Charleston

      ROBERT MCMASTER, University of Glasgow



Jan. 4, 12:30 pm



Regulation, Enforcement, and Public Disclosure (Q5)


Presiding: CARL PASURKA, JR., U.S. Environmental Protection Agency


DIETRICH EARNHART, University of Kansas, and DYLAN RASSIER, U.S. Bureau of Economic Analysis--The Effect of Environmental Regulation on Corporate Financial Performance: Short-Run versus Long-Run Implications

CHRISTIAN LANGPAP, Oregon State University, and JAY SHIMSHACK, Tufts University--The Role of Private Enforcement in Environmental Regulation

ARUN MALIK, George Washington University--The Desirability of Forgiveness in Regulatory Enforcement

NICHOLAS POWERS, University of Michigan, ALLEN BLACKMAN, Resources for the Future, THOMAS LYON, University of Michigan, and URVASHI NARAIN, Resources for the Future--Does Public Disclosure Reduce Pollution? Evidence from India's Pulp and Paper Industry


Discussants: KAREN PALMER, Resources for the Future

WAYNE GRAY, Clark University

THOMAS LYON, University of Michigan

JOSHUA LINN, University of Illinois- Chicago



Jan. 4, 12:30 pm



Microeconomics of Economics Development (O1)


Presiding: XIAO-YUAN DONG, University of Winnipeg


HUIYA CHEN, University of California-Davis and Reed College, and DEBORAH L. SWENSON, University of California-Davis and NBER--Multinational Firms and New Chinese Export Transactions


FENG-LIAN DU, Inner Mongolia University, and XIAO-YUAN DONG, University of Winnipeg--Why Women Have Longer Unemployment Durations than Men in Post-restructuring Urban China


YOUNGJUN CHEN, Renmin University of China and Johns Hopkins University--Antitrust and Regulation: The Experience of U.S. and Its Implications for China


XIAOQIANG CHENG, University of Leuven, and HANS DEGRYSE, CentER, Tilburg University, and TILEC, University of Leuven--Informational Barriers and Credit Rationing in the Market for Credit Cards


Discussants: HUIYA CHEN, University of California-Davis and Reed College

JACK HOU, California State University-Long Beach

DENNIS T. YANG, Virginia Tech and Chinese University of Hong Kong




Jan. 4, 12:30 pm



Money, Finance, and Equity


Presiding: PETER ROUSSEAU, Vanderbilt University


DAVID CHAMBERS, Oxford University, and ELROY DIMSON, London Business School--Keynes the Investor


CAROLINE FOHLIN, Johns Hopkins University, TOBIAS BRÜNNER, and THOMAS GEHRIG, University of Freiburg--Asymmetric Information and the Costs of Trading in the New York Stock Exchange, 1900-1910


FARLEY GRUBB, University of Delaware--The Continental Dollar:  What Happened to It after 1779?


DAN LI, Boston University--The Costs of Civil Wars: Micro Evidence from Chinese National Railroads, 1906-1923


Discussants: MICHAEL EDELSTEIN, Queens College

ANDREY UKHOV, Indiana University

PETER ROUSSEAU, Vanderbilt University

SE YAN, University of California-Los Angeles



Jan. 4, 12:30 pm



Keeping the Faith:  The Continuing Engagement of Economics with Religion (B1)


Presiding:  SPENCER BANZHAF, Georgia State University


STEPHEN MEARDON, Bowling Green State University--Whence Commerce Followed the Missionary:  Religions Origins of Doctrines of U.S. Trade and Expansion


HARRO MAAS, Amsterdam School of Economics--A Hard Battle to Fight:  The Dismal Science in Cambridge 1820-1850


DANIELA PARISI, Catholic University of Milan--Economics to the Service of Humankind: The Political Economy of Francesco Vito


Discussants: BRAD BATEMAN, Grinnell College

      PAUL OSLINGTON, University of New South Wales

      SPENCER BANZHAF, Georgia State University


Jan. 4, 12:30 pm



Patenting, Productivity, and Public Policy  (O3)


Presiding: FRANCINE LAFONTAINE, University of Michigan


IAIN M. COCKBURN and MEGAN J. MACGARVIE, Boston University--Entry, Exit and Patenting in the Software Industry


MARIKO SAKAKIBARA, University of California-Los Angeles--Assessing the Role of University Patent Rights: U.S.-Japan Comparison of University-Industry Knowledge Transfer


NATARAJAN BALASUBRAMANIAN, Florida International University, and JAGADEESH SIVADASAN, University of Michigan--Patenting and Firm Growth: An Exploration


Discussants: SHANE GREENSTEIN, Northwestern University

ARVIDS ZIEDONIS, University of Michigan

SCOTT STERN, Northwestern University



Jan. 4, 12:30 pm



Consumption, Investment and Real Exchange Rates (F4)


Presiding: SUNGHYUN H. KIM, Tufts University


JOONG SHIK KANG, International Monetary Fund--Consumption and Real Exchange Rates in an Economy with Private Information


TAEYOUNG DOH, Federal Reserve Bank of Kansas City--Yield Curve in a Macroeconomic Equilibrium Model


SIMON GILCHRIST, Boston University, and JAE W. SIM, Federal Reserve Board--Investment during the Korean Financial Crisis: A Structural Econometric Approach


JAEBEOM KIM, Oklahoma State University, and YOUNG-KYU MOH, Texas Tech  University--Nonlinear Dynamics of Real Exchange Rates for Traded and Non-traded Goods


Discussants: JAEWOO LEE, International Monetary Fund

TACK YOON, Federal Reserve Board

JEONG-JOON LEE, Towson University

YOOSOON CHANG, Texas A&M University



Jan. 4, 12:30 pm



The Credit Channel and Macroeconomic Consequences (E5)


Presiding: DIANA HANCOCK, Federal Reserve Board


JUHA KILPONEN, Bank of Finland, and ALISTAIR MILNE, City University London and Bank of Finland--The Lending Channel and Optimal Choice of Monetary Policy


BERRAK BUYUKKARABACAK, Emory University, and NEVEN VALEV, Georgia State University--Credit Expansions and Financial Crises: The Roles of Household and Firm Credit


MUHAMMAD MUSTAFA, South Carolina State University, and MATIUR RAHMAN, McNeese State University--Linkages Among Stock Market Wealth, Consumer Sentiment, and U.S. Durable Goods


ULF VON KALCKREUTH, Deutsche Bundesbank--Financing Constraints, Micro Adjustment of Factor Use and Aggregate Implications


Discussants: KARSTEN JESKE, Federal Reserve Bank of Atlanta

WENDY EDELBERG, Federal Reserve Board

ANDREAS LEHNERT, Federal Reserve Board

GEORGE HALL, Brandeis University



Jan. 4, 12:30 pm



Global Imbalances and International Economic Stability (F4)


Presiding: DOUGLAS WALKER, Regent University


      FRED CAMPANO, Fordham University--Poverty Alleviation and Structural Imbalances


      PELLEGRINO MANFRA, City University of New York--FDI and Global Imbalances


      DOMINICK SALVATORE, Fordham University--Structural Imbalances and International Economic Stability


Discussants: SARA GORDON, St. John's University

      DOUGLAS WALKER, Regent University



Jan. 4, 12:30 pm



Regulating Public Utilities


Presiding: CHRISTIAAN HOGENDORN, Wesleyan University


CHRISTOPHER GARGACZ, Economist, Flora, MS and HERBERT G. THOMPSON, JR., Ohio University--Telecom Impact in the United States


CAROLYN GIDEON, Tufts University--Disconnecting: Universal Service on the Decline


SAM KAYAGA, Loughborough University--Water Demand Management: A Key Building Block for Sustainable Urban Water Management


JOHN YING, University of Delaware--Testing the Effectiveness of Regulation and Competition on Cable Television Rates


Discussants: LEA-RACHEL KOSNIK, University of Missouri-St. Louis

      CHRISTIAAN HOGENDORN, Wesleyan University

      CHRISTOPHER GARBACZ, Economist, Flora, MS


Jan. 4, 12:30 pm



Whither the U.S. Economy in 2008 and Beyond? (Roundtable Discussion) (E6)


Presiding: FRED MOSELEY, Mount Holyoke College


      DEAN BAKER, Center for Economic and Policy Research--Housing and the Sub-Prime Bust


      TOM PALLEY, Economics for Democratic and Open Societies--The Dollar and International Imbalances


      WILLIAM SPRIGGS, Howard University--Current Conditions for African-Americans


      ROBERT POLLIN, University of Massachusetts-Amherst--Government Policies


      DORENE ISENBERG, University of Redlands--Housing Crisis in California



Jan. 4, 2:30 pm



Welfare Economics and Policy Analysis of U.S. Biofuel Policies  (Q4)




      WALLACE E. TYNER, Purdue University--The U.S. Biofuels Market: Policy Alternatives for the Future


      HARRY DE GORTER, Cornell University--The Welfare Economics of U.S. Ethanol Policy


      MADHU KHANNA, AMY ANDO, and FARZAD TAHERIPOUR--Unintended Welfare Effects of an Ethanol Subsidy


Discussant: MARCOS JANK, ICONE        



Jan. 4, 2:30 pm



Current and Future Institutions for the World Economy


Presiding: GENE GROSSMAN, Princeton University        


RAGHURAM RAJAN, University of Chicago--The Future of the IMF and World Bank


DANIEL ESTY, Yale University--Rethinking Global Environmental Governance


MARTIN FELDSTEIN, Harvard University--Designing Institutions to Cope with Terrorism


Discussant: TODD SANDLER, University of Texas-Dallas



Jan. 4, 2:30 pm



Better Living through Economics: II


Presiding: JOHN SIEGFRIED, Vanderbilt University


PRESTON MCAFEE, California Institute of Technology and Yahoo Research, SIMON WILKIE, University of Southern California, and JOHN MCMILLAN, Stanford University--The Greatest Auction in History


AL ROTH, Harvard University--Market Design


ELIZABETH BAILEY, University of Pennsylvania--Airline Deregulation


Discussants:  JEREMY BULOW, Stanford University

PETER CRAMTON, University of Maryland

      NANCY ROSE, Massachusetts Institute of Technology



Jan. 4, 2:30 pm



Panel Discussion on "What Should Be the Core of Graduate Economics?"


Presiding:  DAVID C. COLANDER, Middlebury College


      SUSAN ATHEY, Harvard University

EDWARD GLAESER, Harvard University

BO HONORE, Princeton University

BLAKE LEBARON, Brandeis University

DEREK NEAL, University of Chicago

MICHAEL WOODFORD, Columbia University



Jan. 4, 2:30 pm



Psychology and Development: Theory and Experimental Evidence


Presiding: SENDHIL MULLAINATHAN, Harvard University


ESTHER DUFLO, Massachusetts Institute of Technology, MICHAEL KREMER, Harvard University and JONATHAN ROBINSON, Princeton University--Why Are Farmers Not Using Fertilizer? Evidence from Field Experiments in Western Kenya


ABHIJIT BANERJEE, Massachusetts Institute of Technology, and SENDHIL MULLAINATHAN, Harvard University--Climbing Out of Poverty: Long Term Decisions under Income Stress


ERNST FEHR, University of Zurich, KARLA HOFF, World Bank, and MAYURESH KSHETRAMADE, Affinnova Inc.--Norm Enforcement under Social Discrimination: An Experimental Investigation in India


Discussants: ELDAR SHAFIR, Princeton University




Jan. 4, 2:30 pm



Labor Market Flows


Presiding: ROBERT SHIMER, University of Chicago


BARBARA PETRONGOLO and CHRISTOPHER PISSARIDES, London School of Economics--The Ins and Outs of European Unemployment


STEVEN DAVIS, University of Chicago--The Decline of Job Loss


ROBERT SHIMER, University of Chicago--Accounting for Labor Market Flows


Discussants: OLIVIER BLANCHARD, Massachusetts Institute of Technology

BRUCE FALLICK, Federal Reserve Board

MICHAEL ELSBY, University of Michigan



Jan. 4, 2:30 pm



Firm Dynamics (L1)


Presiding: STEPHEN REDDING, London School of Economics


BOYAN JOVANOVIC, New York University, and CHUNG-YI TSE, University of Hong Kong--Creative Destruction in Industries


ERZO LUTTMER, University of Minnesota--New Goods and Firm Growth


ESTEBAN ROSSI-HANSBERG, Princeton University, and SATYAJIT CHATTERJEE, Federal Reserve Bank of Philadelphia--Spin-offs and the Market for Ideas


ANDREW BERNARD, Dartmouth College, PETER SCHOTT, Yale University, and STEPHEN REDDING, London School of Economics--Multi-product Firms and Product Switching


Discussants:  XAVIER GABAIX, Princeton University

MARK WRIGHT, University of California-Los Angeles

HUGO HOPENHAYN, University of California-Los Angeles

SAM KORTUM, University of Chicago



Jan. 4, 2:30 pm



The Economics of Ethnic Identity and Assimilation (J1)


Presiding: LISA M. LYNCH, Tufts University


CARMEL U. CHISWICK, University of Illinois-Chicago--The Economic Determinants of Ethnic Assimilation


TIMOTHY J. HATTON and ANDREW LEIGH, Australian National University--Immigrants Assimilate as Communities, Not Just as Individuals


AMELIE CONSTANT, Georgetown University, and KLAUS F ZIMMERMANN, IZA and Bonn University--Measuring Ethnic Identity and Its Impact on Economic Behavior


ROBERT W. FAIRLIE, University of California-Santa Cruz, ALICIA ROBB, FSD, JULIE ZISSIMOPOULOS, RAND, and HARRY KRASHINSKY, University of Toronto--Asian-Owned Businesses in the United States


Discussants: SUSAN VROMAN, Georgetown University

DAVID C. RIBAR, University of North Carolina

LESLIE STRATTON, Virginia Commonwealth University

SOLOMON POLACHEK, Binghamton University



Jan. 4, 2:30 pm



Disaster Economics: A Roundtable on Climate Change, Hurricane Katrina

and Related Issues (H0)


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


PAUL KRUGMAN, Princeton University--TBA


JOSEPH STIGLITZ, Columbia University--TBA


HOWARD KUNREUTHER, University of Pennsylvania--Providing Protection Against Natural Disasters in the 21st Century


MARCELLUS ANDREWS, Insurance Information Institute--Risk, Inequality and the Economics of Disaster


Discussants:  To be announced.



Jan. 4, 2:30 pm



Firm Size & Innovation: Solving Schumpeter's Innovation Riddle (O1)


Presiding: WILLIAM BAUMOL, New York University


JOHN VAN REENEN, London School of Economics, and SHARON BELENZON, Oxford University--Firm Size and Innovation: Evidence from European Panel Data


DAVID AUDRETSCH, Indiana University and Max Planck Institute--Resolving the Small Firm Innovation Paradox: The Knowledge Spillover Theory of Entrepreneurship


WILFRED DOLFSMA, University of Groningen, and GERBEN VAN DER PANNE, Delft University of Technology--Innovation by SMEs &Large Firms: Sector Structure and Dynamics


PHILIPPE AGHION, Harvard University, JOHN VAN REENEN, London School of Economics, and LUIGI ZINGALES, University of Chicago--Corporate Governance and Innovation


Discussants: MARK SANDERS, Utrecht School of Economics

      SHARON BELONZON, Oxford University

      JEROEN HINLOOPEN, University of Amsterdam and Katholieke Universiteit Leuven



Jan. 4, 2:30 pm



Prediction Markets--New Empirical Findings (D7)


Presiding: ERIC ZITZEWITZ, Stanford University


BO COWGILL, Google, JUSTIN WOLFERS, University of Pennsylvania, and ERIC ZITZEWITZ, Stanford University--Prediction Markets Inside the Firm: Evidence From Google


FORREST NELSON and PHILIP POLGREEN, University of Iowa--Predicting Flu: Prediction Markets vs. Biostatistical Models


PAUL TETLOCK, University of Texas-Austin--Does Liquidity Affect Securities Market Efficiency?


RICARD GIL, University of California-Santa Cruz, and STEVEN LEVITT, University of Chicago--Testing the Efficiency of Markets in the 2002 World Cup


Discussants: CHARLES PLOTT, Caltech

ROBIN HANSON, George Mason University

ERIC ZITZEWITZ, Stanford University

JUSTIN WOLFERS, University of Pennsylvania



Jan. 4, 2:30 pm



International Reserves (F3)


Presiding: RICARDO CABALLERO, Massachusetts Institute of Technology


JOSHUA AIZENMAN, University of California-Santa Cruz, and JAEWOO LEE, International Monetary Fund--Financial versus Monetary Mercantilism -- Long-Run View of Large International Reserves Hoarding


OLIVIER JEANNE and ROMAIN RANCIERE, International Monetary Fund--The Optimal Level of International Reserves in Emerging Market Countries: A New Formula and Some Applications


EDUARDO LEVY YEYATI, Universidad Di Tella--The Cost of Reserves


RICHARD PORTES, London Business School, ELIAS PAPAIOANNOU, European Central Bank, and GRIGORIOS SIOUROUNIS, London Business School--Allocation of International Reserves Across Asset Classes


Discussants: THOMAS WILLETT, Claremont McKenna College

LINDA GOLDBERG, Federal Reserve Bank of New York

ROMAIN RANCIERE, International Monetary Fund

JOSHUA AIZENMAN, University of California-Santa Cruz



Jan. 4, 2:30 pm



Consumer Bankruptcy and the Credit Market (K3)


Presiding: MICHELLE WHITE, University of California-San Diego


IGOR LIVSHITS, JAMES MACGEE, University of Western Ontario, and MICHELE TERTILT, Stanford University--Accounting for the Rise in Consumer Bankruptcies


CHRIS MAYER, Columbia University, KAREN PENCE, Federal Reserve Board, and TOMASZ PISKORSKI, Columbia University--Deception or Access to Credit: Why Do Subprime Loans Have Adjustable Rates and Prepayment Penalties?


SUMIT AGARWAL, Federal Reserve Bank of Chicago, SOUPHALA CHOMSISENGPHET, Office of the Comptroller of the Currency, CHUNLIN LIU, University of Nevada-Reno, and NICHOLAS SOULELES, University of Pennsylvania--Relationship Lending and Bankruptcy: Evidence from the Consumer Credit Market


ASTRID DICK, Federal Reserve Bank of New York, and ANDREAS LEHNERT, Federal Reserve Board--Personal Bankruptcy and Credit Market Competition


Discussants: DEAN CORBAE, University of Texas-Austin

MARK GARMAISE, University of California-Los Angeles

WENLI LI, Federal Reserve Bank of Philadelphia

ERIK HURST, University of Chicago



Jan. 4, 2:30 pm



Directed Search Models of Labor and Consumer Product Markets (J6)


Presiding: MICHAEL PETERS, University of British Columbia


SHOUYONG SHI, University of Toronto--Directed Search for Equilibrium Wage-Tenure Contracts


MICHAEL PETERS, University of British Columbia--Unobservable Heterogeneity in Directed Search


JAN EECKHOUT and PHILIPP KIRCHER, University of Pennsylvania--The Sorting Effect of Price Competition


PHILIPP KIRCHER, University of Pennsylvania--Efficiency of Simultaneous Search


Discussants: KEN BURDETT, University of Pennsylvania

ESPEN MOEN, Norwegian School of Management

GUIDO MENZIO, University of Pennsylvania

BENOIT JULIEN, Australian Graduate School of Management



Jan. 4, 2:30 pm



Monetary Policy and Inflation Targeting


Presiding: ANN OWEN, Hamilton College


MARCO DEL NEGRO, Federal Reserve Bank of Atlanta, and FRANK SCHORFHEIDE, University of Pennsylvania--Monetary Policy Analysis with Potentially Misspecified Models


JERRY TEMPELMAN, Federal Reserve Bank of New York--A Case Against Explicit Inflation Targeting


JAN LIBICH, La Trobe University--Inflexibility of Inflation Targeting Revisited: Modeling the Anchoring Effect


DEVRIM DEMIREL, University of Colorado-Boulder--Optimal Monetary Policy and Equilibrium Determinacy in a Financially Fragile Economy


Discussants: STEVEN DURLAUF, University of Wisconsin

PETER HOWITT, Brown University

      MICHAEL HANSON, Wesleyan University



Jan. 4, 2:30 pm



How to Mentor Junior Economists (Panel Discussion)


Presiding: DANIEL S. HAMERMESH, University of Texas-Austin


FRANCINE BLAU, Cornell University

SUSAN COLLINS, Georgetown University

JONATHAN H. HAMILTON, University of Florida

CHRISTINA PAXSON, Princeton University

JAMES POTERBA, Massachusetts Institute of Technology

JEFFREY M. WOOLDRIDGE, Michigan State University



Jan. 4, 2:30 pm



Health and Development (I1)


Presiding: CHRIS PAPAGEORGIOU, International Monetary Fund


SHANKHA CHAKRABORTY, University of Oregon, CHRIS PAPAGEORGIOU, International Monetary Fund, and FIDEL PEREZ-SEBASTIAN, University of Alicante, Spain--Diseases and Development


ROMERO ROCHA, Pontifícia Universidade Católica do Rio de Janeiro, and RODRIGO SOARES, University of Maryland and NBER--Direct and Indirect Impacts of Community Based Health Interventions: Evidence from Brazil's Family Health Program


JAMES FEYRER, Dartmouth College, DIMITRA POLITI, Brown University, and DAVID WEIL, Brown University and NBER--The Economic Effects of Micronutrient Deficiency: Evidence from Salt Iodization in the United States


JANE FORTSON, Princeton University--Mortality Risk and Human Capital Investment: The Impact of HIV/AIDS in Sub-Saharan Africa


Discussants: EMILY OSTER, University of Chicago

SIMON JOHNSON, Massachusetts Institute of Technology

ANGUS DEATON, Princeton University

SEBNEM KALEMLI-OZCAN, University of Houston



Jan. 4, 2:30 pm



Labor Market Dynamics


Presiding: ROBERT MOFFITT, Johns Hopkins University


JOSEPH PERSKY, University of Illinois-Chicago, and DANIEL FELSENSTEIN, Hebrew University--Job Chains and Wage Curves: Worker Mobility and Marshallian Surpluses in Evaluating Local Employment Growth


ANNALISA MASTRI and KATHRYN SHAW, Stanford University--Wage Compression and Teacher Quality


SEWIN CHAN, New York University, and ANN HUFF STEVENS, University of California-Davis--Retirement Reversals


PETER GOTTSCHALK, Boston College, ROBERT MOFFITT, Johns Hopkins University, and JONATHAN SCHWABISH, Congressional Budget Office--Earnings Volatility in the U.S.: Trends and Comparisons using Survey and Administrative Data


Discussants: ANDREW OSWALD ,University of Warwick

      ERIC FRENCH, Federal Reserve Bank of Chicago

      JOHN ABOWD, Cornell University



Jan. 4, 2:30 pm



Innovation, Intangibles, and R&D


Presiding:  CYNTHIA A. GLASSMAN, U.S. Department of Commerce


JOSHUA LERNER, Harvard University, MORTEN SORENSEN, University of Chicago, and PER STROMBERG, Swedish Institute for Financial Research--The Long-Run Impact of Private Equity: The Impact on Innovation


CAROL CORRADO, Federal Reserve Board, and CHARLES HULTEN, University of Maryland--Some New Stylized Facts about U.S. Economic Growth


J. STEVEN LANDEFELD and SUMIYE OKUBO, Bureau of Economic Analysis--The Role of R&D in Economic Growth:  BEA's Satellite Account


Discussants: VOJISLAV MAKSIMOVIC, University of Maryland

BARBARA M. FRAUMENI, University of Southern Maine

SHANE M. GREENSTEIN, Northwestern University



Jan. 4, 2:30 pm



Racial and Ethnic Gaps in Education:  Theory, Policies and Practice


Presiding: NGINA CHITEJI, Skidmore College and Howard University Institute on Race and Wealth


CECILIA ROUSE, Princeton University, DAVID FIGLIO, University of Florida, and ANALIA SCHLOSSER, Princeton University--Racial and Ethnic Gaps in Achievement:  Evidence from Florida


BRIAN JACOB, Harvard University--The Impacts of Choice and Accountability on African-American versus Latino Children in Chicago


RONALD FERGUSON, Harvard University-- Within-School Variation in the Quality of Instruction across Course Levels and Racial Groups


ERIC P. BETTINGER, Case Western Reserve University, and BRIDGET TERRY LONG, Harvard University--Racial Gaps in College Preparation: Exploring the Role of Postsecondary Remediation Using a Regression-Discontinuity Approach


Discussants: KERWIN CHARLES, University of Chicago

MARK LOPEZ, University of Maryland




Jan. 4, 2:30 pm



Education and Occupational Choice


Presiding: GAIL HOYT, University of Kentucky


JUSTINE HASTINGS, Yale University and NBER, and  JEFFREY M. WEINSTEIN, Yale University--Does Gender Influence Gains from Increased Academic Opportunities


SUQIN GE, Virginia Tech, and FANG YANG, State University of New York-Albany--Marriage, Intergenerational Schooling Effect, and Gender Gap in College Attainment


JENNIFER THACHER, MELISSA BINDER, JANIE CHERMAK, and KATE KRAUSE, University of New Mexico--Faculty Compensation and Preferences:  Can Differences in Job Preferences Help Explain Why Men and Women are Paid Differently?


ALAKA HOLLA, Innovations for Poverty Action--Missing Students:  Risk, Gender, and Human Capital Investment in India


Discussants: CAROLINE MINTER HOXBY, Harvard University

RAQUEL FERNANDEZ, New York University

ALAN KRUEGER, Princeton University

THOMAS DEE, Swarthmore College



Jan. 4, 2:30



Poster Session 2008


Presiding: To be announced.


HIROKATSU ASANO, Asia University--Estimating Capital Investment with Financial Constraints: Comparison of Tobin's q and Real Options Approaches


YIJUN HE, Washington State University--Existence of Bifurcation in Macroeconomic Dynamics: Grandmont was Right


CATHERINE CO, SHUANGLIN LIN, University of Nebraska-Omaha, and FANYING KONG, Midland Lutheran College--Pollution Across Chinese Provinces


JULIAN EMAMI NAMINI, Erasmus University Rotterdam--Trade, Neoclassical Growth and Heterogeneous Firms


CHRISTIAN BAYER and FALKO JUESSEN, University of Dortmund--On the Dynamics of Interstate Migration: Migration Costs and Self-Selection


MARY DALY and DANIEL WILSON, Federal Reserve Bank of San Francisco--Interpersonal Comparisons: Evidence from Individual-Level Data on Suicides


GARETT JONES, University of California-San Diego--Cognitive Ability and Technology Diffusion: An Empirical Test


MANOJ MOHANAN, Harvard University--Consumption Smoothing Revisited:  Testing the Permanent Income Hypothesis Using a Random Health Shock


QIANG ZHANG, University of Leicester--Understanding Intertemporal Substitution in Consumption



Jan. 4, 2:30 pm



Topics in Health Economics


Presiding: RICHARD ARNOULD, University of Illinois


      MARK DUGGAN, University of Maryland--The Effect of Medicate Part D on Dual Eligibles: Evidence from California-s Medicaid Program


      AMY FINKELSTEIN, Massachusetts Institute of Technology--The Effects of Universal Coverage: Evidence from the Introduction of Medicare


      DOUGLAS STAIGER and JONATHAN SKINNER, Dartmouth College--Diffusion and Productivity in Health Care


      DAVID BECKER, University of Alabama-Birmingham, KENNETH CHAY, University of California-Berkeley and Brown University, and SHAILENDER SWAMINATHAN, University of Alabama-Birmingham--Mortality and the Baseball Hall of Fame: An Investigation into the Role of Status in Life Expectancy


Discussants: MICHAEL ANDERSON, University of California-Berkeley

      JOHN DINARDO, University of Michigan

      CARLOS DOBKIN, University of California-Santa Cruz

      JUSTIN MCCRARY, University of Michigan



Jan. 4, 2:30 pm



Debate over Microeconomics


Presiding: FRED MOSELEY, Mount Holyoke College


BERNARD GUERRIEN and EMMANUELLE BENICOURT, Université Paris-Sorbonne--Is There Anything Worth Keeping in Standard Microeconomics


      KARL CASE, Wellesley College--Reply to Guerrien-Benicourt and Defense of Microeconomics


      DONALD KATZNER, University of Massachusetts-Amherst--Reply to Guerrien-Benicourt and Defense of Microeconomics


Discussants: DEIRDRE MCCLOSKEY, University of Illinois-Chicago

      DUNCAN FOLEY, New School University



Jan. 4, 2:30 pm



Corporate Liquidity


Presiding: NITTAI BERGMAN, Massachusetts Institute of Technology


DAVID A. MATSA, Northwestern University--Operating Under a Liquidity Crunch: The Impact of LBOs on Product Availability in the Supermarket Industry


ANDREA L. EISFELDT, Northwestern University, and ADRIANO A. RAMPINI, Duke University--Financing Shortfalls and the Value of Aggregate Liquidity


KARL V. LINS, University of Utah, HENRI SERVAES, London Business School, and PETER TUFANO, Harvard Business School--What Drives Corporate Liquidity? International Evidence from Survey Data on Strategic Cash and Lines of Credit


Discussants:  GREGOR MATVOS, University of Chicago
GUSTAVO MANSO, Massachusetts Institute of Technology
HEITOR ALMEIDA, New York University



Jan. 4, 2:30 pm



Mispricing and Limits to Arbitrage

Presiding: ANNA SCHERBINA, Harvard Business School


DORON AVRAMOV, University of Maryland, TARUN CHORDIA, Emory University, GERGANA JOSTOVA, George Washington University, and ALEXANDER PHILIPOV, George Mason University--Dispersion in Analysts' Earnings Forecasts and Credit Rating


DAVID A. HIRSHLEIFER, University of California-Irvine, and DANLING JIANG, Florida State University--Commonality in Misvaluation, Equity Financing, and the Cross Section of Stock Returns


TARUN CHORDIA, AMIT GOYAL, Emory University, GIL SADKA, Columbia University, RONNIE SADKA, University of Washington, and LAKSHMANAN SHIVAKUMAR, London Business School--Liquidity and the Post-Earnings-Announcement Drift


DAVID A. LESMOND, Tulane University--The Micro and Macro of Accrual Based Trading Strategies


Discussants: KARL DIETHER, Ohio State University
KENT DANIEL, Goldman Sachs Group, Inc.
AVANIDHAR SUBRAHMANYAM, University of California-Los Angeles



Jan. 4, 2:30 pm



Which CEOs Matter and When?


Presiding: REBECCA ZARUTSKIE, Duke University


RUDIGER FAHLENBRACH, BERNADETTE A. MINTON, and CARRIE H. PAN, Ohio State University--The Market for Comeback CEOs


STEVEN N. KAPLAN, MARK KLEBANOV, and MORTEN SORENSEN, University of Chicago--Which CEO Characteristics and Abilities Matter?


JESUS M. SALAS, University of Oklahoma--Entrenchment and the Stock Price Reaction to Sudden Executive Deaths


Discussants: DIRK JENTER, Stanford University
CAROLA FRYDMAN,  Massachusetts Institute of Technology
FRANCISCO PEREZ-GONZALEZ, University of Texas-Austin



Jan. 4, 2:30 pm





Presiding: DAVID BATES, University of Iowa


MARK BROADIE, Columbia University, MIKHAIL CHERNOV, London Business School, and MICHAEL S. JOHANNES, Columbia University--Understanding Index Option Returns


PETER F. CHRISTOFFERSEN, KRIS JACOBS, and KARIM MIMOUNI, McGill University--Models for S&P 500 Dynamics: Evidence from Realized Volatility, Daily Returns, and Option Prices


NEIL D. PEARSON, ALLEN M. POTESHMAN, and JOSHUA S. WHITE, University of Illinois at Urbana-Champaign--Does Option Trading Have a Pervasive Impact on Underlying Stock Prices?


GEORGE O. ARAGON, Arizona State University, and J. SPENCER MARTIN, Carnegie Mellon University--Informed Trader Usage of Stock vs. Option Markets: Evidence from Hedge Fund Investment Advisors


Discussants: CHRISTIAN SCHLAG, Goethe University Frankfurt
MICHAEL S. JOHANNES, Columbia University
KERRY BACK, Texas A&M University
NICOLAS P.B. BOLLEN, Vanderbilt University



Jan. 4, 2:30 pm



Market Making

Presiding: HENDRIK BESSEMBINDER, University of Utah


MICHAEL J. FLEMING and JOSHUA V. ROSENBERG, Federal Reserve Banks--How Do Treasury Dealers Manage their Positions?


ALBERT J. MENKVELD, Free University of Amsterdam--Designated Market Makers for Small-Cap Stocks: Is One Enough?


DAN LI, Carnegie Mellon University--Rounding as Discrimination -- Price Clustering in the OTC Tax-Exempt Bond Market


TERRENCE HENDERSHOTT, University of California-Berkeley, PAMELA C. MOULTON, Fordham University, and MARK S. SEASHOLES, University of California-Berkeley--Market Maker Inventories and Liquidity


Discussants: PRADEEP YADAV, University of Oklahoma
KUMAR VENKATARAMAN, Southern Methodist University
AMY EDWARDS, Securities and Exchange Commission



Jan. 4, 2:30 pm



Housing Policy  (R3)


Presiding: EDGAR O. OLSEN, University of Virginia


JOHN E. ANDERSON, University of Nebraska, JEFFREY CLEMENS, Harvard University, and ANDREW HANSON, Syracuse University--Capping the Mortgage Interest Deduction


JOSEPH T.L. OOI, National University of Singapore, C.F. SIRMANS, University of Connecticut, and GEOFFREY K. TURNBULL, Georgia State University--Government Supply of Land in a Dual Market


CHRISTOPHER R. CUNNINGHAM, Federal Reserve Bank of Atlanta and GARY V. ENGELHARDT, Syracuse University -- Housing Mobility and TRA97


SHAUN A. BOND, PETER TYLER, University of Cambridge, and BEN GARDINER, Cambridge Econometrics -- Tax Incidence and Commercial Real Estate Leases


Discussants: DAVID LING, University of Florida

DAVID FRAME, Baruch College, City University of New York

TRACY TURNER, Kansas State University
THOMAS DAVIDOFF, University of California-Berkeley

Jan. 4, 2:30 pm



Housing Search  (R2)


Presiding: ABDULLAH YAVAS, Pennsylvania State University


WILLIAM C. WHEATON and NAI JIA LEE, Massachusetts Institute of Technology--Do Housing Sales Drive Housing Prices or the Converse?


JUN ZHANG, Chinese University of Hong Kong, and CHARLES KA YUI LEUNG, City University Of Hong Kong--Housing Markets with Competitive Search


DONALD R. HAURIN, TAYLOR NADAULD, Ohio State University, ANTHONY SANDERS, Arizona State University, and JESSICA L. HAURIN, Stanford University--List Prices, Sale Prices, and Marketing Time


POH HAR NEO, SEOW ENG ONG, National University of Singapore, and TSUR SOMMERVILLE, University of British Columbia--Loss Aversion and Repeated Market Environment


Discussants:  YILDIRAY YILDIRIM, Syracuse University
 PING WANG, Washington University
 PAUL ANGLIN, University of Guelph
 DANIEL QUAN, Cornell University



Jan. 4, 2:30 pm



Energy Issues and Challenges in Emerging Economies (Q4)


Presiding: JOHN BONIN, Wesleyan University


      YELENA KALYUZHNOVA, University of Reading, and ALI M. KUTAN, Southern Illinois University-Edwardsville--Determinants of Corruption in Energy-Rich Economies


      RICHARD POMFRET, Adelaide University, Australia--Using Energy Earnings to Diversify the Economy: Kazakhstan's Agricultural Promotion Programme


      KOEN SCHOORS, Ghent University, Belgium--Russia from Bust to Boom: Oil, Politics or the Ruble?


      ULRICH KLUEH, GONZALO PASTOR, and ALONSO SEGURA, International Monetary Fund--Sao Tome and Principe's Experience with the Local Content: Some Possible Lessons for the Caspian Sea Region


Discussants: JOSEF BRADA, Arizona State University




Jan. 4, 2:30 pm



Institutional Analysis of Sectors, Systems, and Trade in the Global Era (O1)


Presiding: GEOFF SCHNEIDER, Bucknell University


PAUL SUSMAN and GEOFFREY SCHNEIDER, Bucknell University--Institutional Challenges and Opportunities in the Development of the Worlds First Worker-Owned Free Trade Zone

JOHN B. HALL, Portland State University, and UDO LUDWIG, Institute for Economics Research, Halle and University of Leipzig--Eastern Germany's Constrained Service Sector Expansion

ARISTIDIS BITZENIS, University of Macedonia, and JOHN MARANGOS, Colorado State University--The Role of Risk as an FDI Barrier to Entry during Transition: The Case of Bulgaria

ERIC R. HAKE, Eastern Illinois University--The Evolution of Corporate Governance and the Expansion of the European Union
P. SAI-WING HO, University of Denver--Fighting for Policy Space to Promote Development: Prebisch, Myrdal, and Singer

Jan. 4, 2:30 pm



Topics in the History of Institutional Economics (B2)


Presiding: THOMAS A. SWANKE, Chadron State College


JAMES L. WEBB, University of Missouri-Kansas City--Veblen's Analysis and Pragmatic Inquiry


SHERRY KASPER, Maryville College--Eveline Mabel Burns, Interwar Pluralism and the Founding of Social Security  


ROBERT W. DIMAND and ROBERT H. KOEHN, Brock University--Galbraith's Heterodox Teacher: Leo Rogin's Historical Approach to the Meaning and Validity of Economic Theory


CHARLES G LEATHERS, University of Alabama, and J. PATRICK RAINES, Belmont University--Institutional Economics and Behavioral Finance


RANGANATH MURTHY, Bucknell University--Nicholas Georgescu-Roegen, Institutional Economist


Discussant: JOHN F. HENRY, University of Missouri-Kansas City



Jan. 4, 2:30 pm



Neoliberalism, Inequality, and Religion (D6)


Presiding: ALBINO BARRERA, Providence College


ALBINO BARRERA, Providence College--Why Inequality Matters: Preconditions and Limitations of Allocative Efficiency


ROJHAT BERDAN AVSAR, University of Utah--Neoliberal Autonomy: A Critical Analysis of the "Ownership Society" Rhetoric


BARBARA E. HOPKINS, Wright State University--Class and Gender Bias among the Religious Right and the Rationalization of Inequality


JOHN WISMAN, American University--The Role of Religion and Economic Science in Legitimating Inequality


Discussant:  JOHN TIEMSTRA, Calvin College



Jan. 4, 2:30 pm



Technologies and Trade-offs (Q5)


Presiding: IAN W.H. PARRY, Resources for the Future


DAVID POPP, Syracuse University, and RICHARD NEWELL, Duke University--Where Does Energy R&D Come From?  A First Look at Crowding Out from Environmentally-Friendly R&D


TIMO GOESCHL and GRISCHA PERINO, University of Heidelberg--On Backstops and Boomerangs: Environmental R&D under Technological Uncertainty


SJAK SMULDERS, University of Calgary, and CORRADO DI MARIA, University College Dublin--Endogenous Technological Change and the Cost of Environmental Policy


ERIN BAKER, University of Massachusetts-Amherst, LEON CLARKE, University of Maryland-College Park, and EKUNDAYO SHITTU, University of Massachusetts-Amherst--Technical Change and the Marginal Cost of Abatement

Discussants: IAIN COCKBURN, Boston University

CHARLES KOLSTAD, University of California-Santa Barbara

LARRY GOULDER, Stanford University

CAROLYN FISCHER, Resources for the Future



Jan. 4, 2:30 pm



Spiritual, Human, and Physical Capital:  Are They Complementary Factors

in Economic Growth?


Presiding: SARAH HAMERSMA, University of Florida   


      CARL R. GWIN, Pepperdine University, WAFI HAKIM ORMAN, and CHARLES M. NORTH, Baylor University--Spiritual, Human, and Physical Capital: Are They Complementary Factors in Economic Growth?


      BROOKS B. HULL, University of Michigan-Dearborn, and JODY LIPFORD, Presbyterian College--Free Riding, Market Structure, and Member Commitment in South Carolina Churches


      JONATHAN GRUBER, Massachusetts Istitute of Technology and NBER and DANIEL M. HUNGERMAN, University of Notre Dame--The Church vs. The Mall: What Happens When Religion Faces Increased Secular Competition?


      JOSHUA J. LEWER, Bradley University, R. NICHOLAS GERLICH, West Texas A&M University, and DOYLE LUCAS, Anderson University--The Effects of Religious Adherence and Intensity on Illegal Media File Sharing


Discussants: MICHAEL A. ANDERSON, Washington and Lee University          

ROBBIE MOCHRIE, Heriot-Watt University

CHRISTOPHER M. CORNWELL, University of Georgia

PETER G. KLEIN, University of Missouri



Jan. 4, 2:30 pm



Technological Innovations and Social Capital: What Mattered When


Presiding: FARLEY GRUBB, University of Delaware


PRICE FISHBACK, University of Arizona, SHAWN KANTOR, University of California-Merced, and TODD SORENSON, University of Arizona--The New Deal and Diffusion of Tractors in the 1930s


MARTA FELIS-ROTA, London School of Economics and Political Science--Is Social Capital Persistent?  Comparative Measurement in the Nineteenth and Twentieth Centuries


DROR GOLDBERG, Texas A&M University--The Dishonest Origins of Modern Currency


PETER MEYER, U.S. Bureau of Labor Statistics--The Airplane as an Open Source Invention


Discussants: ZORINA KHAN, Bowdoin College

WAYNE GROVE, Le Moyne College

FARLEY GRUBB, University of Delaware

PAUL RHODE, University of Arizona



Jan. 4, 2:30 pm



Econometrics (C0)


Presiding: PAUL RUUD, University of California-Berkeley


MATTHEW HARDING, Stanford University, and JERRY HAUSMAN, Massachusetts Institute of Technology--Finite Sample Bias Corrections for IV Estimation with Weak and Many Instruments


SARASWATA CHAUDHURI and ERIC ZIVOT, University of Washington--Testing of Hypotheses in the Presence of Weakly Identified Nuisance Parameters


VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology, IVAN FERNANDEZ-VAL, Boston University, and BLAISE MELLY, University of St. Gallen--Inference on Counterfactual Distributions


PAUL RUUD and JAMES POWELL, University of California-Berkeley--Semiparametric Multinomial Choice and Random Utility Models


Discussants: PATRIK GUGGENBERGER, University of California-Los Angeles


FLAVIO CUNHA, University of Chicago

ROSA MATZKIN, Northwestern University



Jan. 4, 2:30 pm



Applications of Global Games (C7)


Presiding: ANDREA FINICELLI, Bank of Italy


ANDREA FINICELLI, Bank of Italy--Endogenous Information and Credibility of Beliefs in a Global Game


AMIL DASGUPTA, London School of Economics, JAKUB STEINER, University of Edinburg, and COLIN STEWART, University of Toronto--Efficient Dynamic Coordination with Private Learning


ALEXANDER ELBITTAR, CIDE Mexico, RODRIGO HARRISON, Instituto de Economia P.U.C. Chile, and ROBERTO MUNOZ, Departamento de Industrias USM Chile--Network Structure in a Link Formation Game



Jan. 4, 2:30 pm



Exporters and Multinationals (F1)


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


JÖRN KLEINERT, University of Tübingen, and FARID TOUBAL, University of Paris 1, Panthéon-Sorbonne--Dissecting FDI


ROBERTO ALVAREZ, Central Bank of Chile, HASAN FARUQ, and RICARDO A. LOPEZ, Indiana University--New Products in Export Markets: Learning from Experience and Learning from Others


SASCHA O. BECKER, LMU Munich, CESifo and IZA, KAROLINA EKHOLM, Stockholm University, CEPR and CESifo, and MARC-ANDREAS MUENDLER, University of California-San Diego and CESifo--Offshoring and the Onshore Composition of Occupations, Tasks and Skills


RONALD DAVIES, University of Oregon, PEHR-JOHAN NORBACK, Research Institute of Industrial Economics, Stockholm, and AYCA TEKIN-KORU, Oregon State University--Effects of Bilateral Tax Treaties on the Export Intensity of Foreign Affiliates


Discussants: COSTAS ARKOLAKIS, University of Minnesota and Yale University

THOMAS CHANEY, University of Chicago



Jan. 4, 2:30 pm



Information Economics  (D8)


Presiding: STEVEN MATTHEWS, University of Pennsylvania


CHARLES BLACKORBY and DEZSÖ SZALAY, University of Warwick--Multidimensional Screening, Affiliation, and Full Separation


SERGIO CURRARINI, University of Venezia, MATTHEW O. JACKSON, Stanford University, and PAOLO PIN, University of Venezia--An Economic Model of Friendship: Diversity, Minorities and Integration


MICHAEL MANDLER, Royal Holloway College, University of London--The Fragility of Information Aggregation in Large Elections


STEVEN A. MATTHEWS, University of Pennsylvania--Smooth Monotone Games of Contribution



Jan. 4, 2:30 pm



The Pricing of Market Variance and Jump Risk (G1)


Presiding: TORBEN ANDERSEN, Northwestern University


JONATHAN WRIGHT and HAO ZHOU, Federal Reserve Board--Bond Risk Premia and Realized Jump Volatility


HAITAO LI, University of Michigan, and FENG ZHAO, Rutgers University--Nonparametric Estimation of State-Price Densities Implicit in Interest Rate Cap Prices


JEFFERSON DUARTE, University of Washington, and CHRISTOPHER S. JONES, University of Southern California--The Price of Market Volatility Risk


TORBEN G. ANDERSEN, Northwestern University, and OLEG BONDARENKO, University of Illinois-Chicago--The Pricing of Variance Risk in the U.S. Treasury Market



Jan. 4, 2:30 pm



New Faces in Econometrics (C0)


Presiding: AZEEM SHAIKH, University of Chicago


RUSTAM IBRAGIMOV,  Harvard University, and  ULRICH K. MULLER,  Princeton University--t-statistic Based Correlation and Heterogeneity Robust Inference


ANNA MIKUSHEVA, Massachusetts Institute of Technology--One-Dimensional Inferences in Autoregressive Models in a Potential Presence of a Unit Root


ANDRES SANTOS, University of California-San Diego--Instrumental Variables Methods for Recovering Continuous Linear Functionals


JAY BHATTACHARYA, Stanford University, AZEEM M. SHAIKH, University of Chicago, and EDWARD VYTLACIL, Columbia University--Treatment Effect Bounds: An Application to Swan-Ganz Catheterization


Discussants: BRENDAN BEARE, Oxford University

GIUSEPPE RAGUSA, University of California-Irvine



Jan. 4, 2:30 pm



International Migration and Sending Countries (O1)


Presiding: GORDON HANSON, University of California-San Diego


CATIA BATISTA, University of Oxford, AITOR LACUESTA, Bank of Spain, and PEDRO C. VICENTE, CSAE and University of Oxford--Brain Drain and Brain Gain: Evidence from an African Success Story


PABLO ACOSTA, Andean Development Corporation (CAF)--Occupational Choice, Migration and Remittances in El Salvador


HYEJIN KU, Cornell University--Migration as Price Arbitrage: Evidence from Mexican Workers in the U.S.


DAVID MCKENZIE, World Bank, and HILLEL RAPOPORT, Bar-Ilan University--Self-selection Patterns in Mexico-U.S. Migration: The Role of Migration Networks


Discussants: MICHAEL CLEMENS, Center for Global Development

DEAN YANG, University of Michigan

GORDON HANSON, University of California-San Diego

PIA ORRENIUS, Federal Reserve Bank of Dallas



Jan. 4, 2:30 pm



Voluntary Funding of Public Goods: Field Experiments in Charitable Giving (C9)

Presiding: ERIN L. KRUPKA, Institute for the Study of Labor (IZA)


ERIN L. KRUPKA, Institute for the Study of Labor, and RACHEL CROSON, University of Texas-Dallas--Priming Pro-Social Behavior: A Field Experiment in Public Library Fundraising


JEN (YUE) SHANG, Indiana University and RACHEL CROSON, University of Texas-Dallas--Social Networks and Charitable Giving


STEPHAN MEIER, Federal Reserve Bank of Boston-- Long-Run Effects of Fundraising Activities


CRAIG LANDRY, East Carolina University, ANDREAS LANGE, University of Maryland, JOHN A. LIST, University of Chicago, MICHAEL K. PRICE, University of Nevada-Reno, and NICHOLAS RUPP, East Carolina University--A Hidden Cost of Incentives:  Evidence from a Natural Field Experiment



Jan. 4, 2:30 pm



Health Care Reform in the 2008 Election: A Political Economic Perspective


Presiding: HENRY AARON, Brookings Institution



CHRIS JENNINGS, Jennings Associates

MARK MCCLELLAN, Brookings Institution

KEN THORPE, Emory University



Jan. 4, 2:30 pm



Empirical Industrial Organization  (L0)


Presiding: CHRISTOPHER SNYDER, Dartmouth College


KATHERINE HO, Columbia University, and JULIE HOLLAND MORTIMER, Harvard University-- The Effects of Full-Line Forcing Contracts


CHRISTOPHER KNITTEL, University of California-Davis, and VICTOR STANGO, Dartmouth College--Outsourcing, Product Mix and Productivity


JOSEPH DOYLE, Massachusetts Institute of Technology, ERICH MUEHLEGGER, Harvard University, and KRISLERT SAMPHANTHARAK, University of California-San Diego--Edgeworth Cycles in Gasoline Markets


JAKUB KASTL, Stanford University and JOZSEF MOLNAR, Bank of Finland--Self-Advertising in Media: Empirical Evidence from the Hungarian Female Magazine Market


Discussants: STEPHEN MARTIN, Purdue University

LAWRENCE WHITE, New York University

ROBERT MASSON, Cornell University

KENNETH BOYER, Michigan State University



Jan. 4, 2:30 pm



New Research on Sexual Orientation and Economic Outcomes (J1)


Presiding: SHOSHANA GROSSBARD, San Diego State University

LEE BADGETT, University of Massachusetts-Amherst and University of California-Los Angeles-- Why Marry? Evidence from Same-Sex Couples in Europe on the Impact of Financial Incentives on the Marriage Decision


CHRISTOPHER JEPSEN, University of Kentucky, and LISA JEPSEN, University of Northern Iowa--Does Homeownership Vary by Sexual Orientation?


CHRISTOPHER CARPENTER, University of California-Irvine--Sexual Orientation, Work, and Income in Canada


MARIEKA KLAWITTER, University of Washington--The Effects of Sexual Orientation and Marital Status on How Couples Hold Their Money


Discussants: SHOSHANA GROSSBARD, San Diego State University

MARTA MURRAY-CLOSE, University of Michigan


SHELLY LUNDBERG, University of Washington



Jan. 4, 2:30 pm



Are International Frictions Helpful in Resolving Open Economy Macroeconomic Puzzles?


Presiding: MARIO J. CRUCINI, Vanderbilt University


PATRICK J. KEHOE, Federal Reserve Bank of Minneapolis and University of Minnesota, and VIRGILIU MIDRIGAN, Federal Reserve Bank of Minneapolis and New York University--Can Heterogeneity in Price Stickiness Account for the Dispersion in the Law of One Price Deviations?


JIANDONG JU, University of Oklahoma, and SHANG-JIN WEI, International Monetary Fund--Entrepreneur Heterogeneity, Financial Contact, International Trade and Capital Flows


INDRIT HOXHA, SEBNEM KALEMLI-OZCAN, and DIETZ VOLLRATH, University of Houston--International Financial Integration, Allocative Efficiency, and Economic Growth


VADYM VOLOSOVYCH, Florida Atlantic University--Financial Markets Integration, Risk Sharing and Investor Protection: Theory and Evidence


Discussants: MOTOTSUGU SHINTANI, Vanderbilt University

JAY C. SHAMBAUGH, Dartmouth College

DAVID C. PARSLEY, Vanderbilt University

LUIS MARQUES, University of Rochester



Jan. 4, 2:30 pm



Issues in Globalization (Roundtable)  (F0)


Presiding:  MAX KREININ, Michigan State University


MAX KREININ, Michigan State University--Introduction


ANDREW F. BRIMMER, Brimmer and Company--Financial Institutions in the Age of Globalization


HARRY HOLZER, Georgetown University and Urban Institute--Globalization and Employment Outcomes in the United States


ANNE KRUEGER, Johns Hopkins University (SAIS)--The Nature of Globalization


RAUL MONCARZ, Florida International University--Latin American Responses to Financial Globalization


SCHEHERAZADE REHMAN, George Washington University--Middle East Economic Development and Integration in the Global Economy


DOMINICK SALVATORE, Fordham University--Why is Europe Growing so Slowly?


ALFRED E. ECKES, Ohio University--Commentary



Jan. 4, 2:30 pm



Assessing the Efficacy of "Union Organizing" Strategies in Union


Presiding: GREGOR GALL, University of Hertfordshire


      JACK FIORITO, Florida State University--Union Organising and Union Revitalization in the United States


JOSEPH B. ROSE, McMaster University, Canada--Union Organizing and Union Revitalization in Canada


MARK STUART, University of Leeds--Assessing Union Organizing in the UK: Caught Between a Rock and a Hard Place


RAE COOPER, University of Sydney--Organising in Hard Times: Australian Union Strategy 1996-2006


Discussants: JOHN KELLY, University of London



Jan. 4, 2:30 pm



Using Industry Studies to Study the Impact of Globalization and Possible

Policy Responses


Presiding: GAIL PESYNA, Alfred P. Sloan Foundation


      CLAIR BROWN, University of California-Berkeley--Is Globalization Hurting U.S. High-Tech Professional Workers?


      SUSAN HELPER, Case Western Reserve University--Globalization and Value-creation Architecture: a Missing Link?


      TIM STURGEON, Massachusetts Institute of Technology--Garbage in, Garbage out: How Better Industry Studies Can Improve the Offshoring Debate


      ROSEMARY BATT, Cornell University--Large Scale Globalization Research:  Evidence from Call Centers


      DAVID WEIL, Boston University--Linking Data and Institutions to Study Labor Market Enforcement: Results from a 5-Year Effort



Jan. 4, 2:30 pm



Public Sector Employment: Leading or Lagging the "American Dream" in a

Global Economy


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


Pro Team:

PAULA VOOS, Rutgers University

TERESA GHILARDUCCI, University of Notre Dame

MARLENE KIM, University of Massachusetts


Con Team:

MARICK MASTER, University of Pittsburgh

ROBERT TOBIAS, America's University

DAVID LEWIN, University of California-Los Angeles



Jan. 4, 2:30 pm



Oil and Energy Issues (Q4)


Presiding:  SERDAR SAYAN, TOBB University of Economics and Technology


MOHAMED ABDELAZIZ, GEORGIOS CHORTAREAS, and ANDREA CIPOLLINI, University of Essex -- Stock Prices, Exchange Rates, and Oil: Evidences from Middle East Oil-Exporting Countries


SHAWKAT HAMMOUDEH, Drexel University, RAMAZAN SARI, Abant Izzet Baysal University, and EISA ALEISA, International Monetary Fund--Do Oil-Rich GCC Countries Finance US Current Account Deficit?


   JOYCE M. DARGAY, University of Leeds, DERMOT GATELY, New York University, and HILLARD G. HUNTINGTON, Stanford University--Determinants of World Oil Demand, 1971-2006
      PETER HARTLEY, KENNETH MEDLOCK III and JAMES A. BAKER III, Rice University--Empirical Evidence on the Operational Efficiency of National Oil Companies

NATHAN BALKE, Southern Methodist University, STEPHEN BROWN and MINE K. YUCEL, Federal Reserve Bank of Dallas--Globalization and Oil Prices: Demand versus Supply Shocks


Discussants: RIZA DEMIRER, Southern Illinois University-Edwardsville

HADI SALEHI ESFAHANI, University of Illinois-Urbana-Champaign

GOKHAN OZERTAN, Bogazici University

AHMET FARUK AYSAN, Bogazici University

MEHMET SERKAN TOSUN, University of Nevada-Reno



Jan. 4, 2:30 pm



Economics Education: Curriculum and Pedagogy (A2)


Presiding: WILLIAM BOSSHARDT, Florida Atlantic University


      JODY HOFF, Federal Reserve Bank of San Francisco, and JANE LOPUS, California State University-East Bay --The Effects of the Open and Operating Curriculum Program on Learning High School Economics: Alternative Assessment Strategies.


      BRIAN PETERSON, Central College--The Wal-Mart Effect: Teaching Principles of Microeconomics with Wal-Mart


      K. K. FUNG and VETI COMESONGSRI, University of Memphis--Using Collabics to Manage Economics Writing Assignments for Large Classes


      MOHAMMAD ASHRAF, University of North Carolina at Pembroke--The Behavior of Utility Maximizing Members in a Classroom Group Project:  Implications of the Envelope Theorem


Discussants:  MARCELO CLERICI-ARIAS, Stanford University

TIMOTHY DIETTE, Washington and Lee University

DANIEL TALLEY, Dakota State University

LOUIS JOHNSTON, College of Saint Benedict/Saint John's University



Jan. 4, 2:30 pm



Forensic Economics I (K4)


Presiding: WILLIAM M. G. PEARSON, Spectrum Economics, Inc.


GARY R. SKOOG, Legal Econometrics, Inc. and De Paul University, and JAMES CIECKA, De Paul University--The Dynamic Structure of the Present Value Function


LAWRENCE M. SPIZMAN, State University of New York-Oswego, and MARC WEINSTEIN, Team Econometrics, LLC--Geometric v. Arithmetic: Which Mean Should the Forensic Economist Utilize?


KEVIN E. CAHILL, Analysis Group, Inc., MICHAEL D. GIANDREA, U.S. Bureau of Labor Statistics, and JOSEPH F. QUINN, Boston College--The Role of Re-entry in the Retirement Process


Discussants: EDWARD FOSTER, University of Minnesota

PRIYANKA SINGH, University of Texas-Dallas

BARRY BEN-ZION, Consulting Economist



Jan. 4, 2:30 pm



Is Diversity Enough to Increase the Doctorate to Faculty Pipeline: The Influence of Earnings and Professional Development (I2)


Presiding: RHONDA VONSHAY SHARPE, University of Vermont


LISA DICKSON, University of Maryland-Baltimore County--Is Diversity Enough to Increase the Doctorate to Faculty Pipeline: The Influence of Earnings and Professional Development


CHARLES BECKER, Duke University and GREGORY PRICE, Jackson State University--Curriculum Intensity in Graduate Preparatory Programs: Impacts on Performance and Progression to Graduate Study Among Minority Students in Economics


WILLIAM DARITY, Duke University, RHONDA VONSHAY SHARPE, University of Vermont, and OMARI SWINTON, Duke University--Is There Value Added from Postdoctoral Fellowships in the Social Sciences?


Discussants: CECILIA A. CONRAD, Pomona College

WILLIAM RODGERS, III, Rutgers University



Jan. 4, 2:30 pm



What Can Experimental Economics Teach Us About Public Finance? (H2)


Presiding:  SETH H. GIERTZ, Congressional Budget Office


JAMES ALM and DAVID SJOQUIST, Georgia State University--Experimental Tests of the "Flypaper Effect"


DIRK ENGELMANN, University of London, and NIKOS NIKIFORAKIS, University of Melbourne--Punishment and Feuds in Public Goods Games in the Laboratory


TODD CHERRY and MICHAEL MCKEE, Appalachian State University--Voter Responses to Congested Public Goods: Raise Taxes versus Ration Access?


CATHERINE ECKEL, PHILIP GROSSMAN, and SHERRY XIN LI, University of Texas-Dallas--Giving to Government: Voluntary Taxation in the Lab


Discussants: SUSAN LAURY, Georgia State University

CHRISTIAN VOSSLER, University of Tennessee-Knoxville



Jan. 4, 2:30 pm



Central Bank Communication and Financial Markets (E5)


Presiding:  BRIAN MADIGAN, Federal Reserve Board


MICHAEL EHRMANN and MARCEL FRATZSCHER, European Central Bank--Social Value of Public Information -- Testing the Limits of Transparency


DAVID-JAN JANSEN, De Nederlandsche Bank, and JAKOB DE HAAN, University of Groningen and CESifo--The Importance of Being Vigilant: How Effective has ECB Communication Been in Influencing Euro Area Inflation Expectations?


CARLO ROSA, London School of Economics, Ente Luigui Einaudi, and Institute for the World Economy, and GIOVANNI VERGA, University of Parma--What Moves Market Interest Rates: The ECB or the Fed?


OZER KARAGEDIKLI, Reserve Bank of New Zealand, and PIERRE SIKLOS, Wilfrid Laurier University--It's a Question of Style: Central Bank Communication and the Exchange Rate? New Zealand vs Australia 


Discussants: ROBERT CHIRINKO, University of Illinois-Chicago

WILLIAM ENGLISH, Federal Reserve Board

BRIAN MADIGAN, Federal Reserve Board

ELLIS TALLMAN, Federal Reserve Bank of Atlanta



Jan. 4, 2:30 pm



Behavioral Effects of Tax Policy


Presiding: PAM MOOMAU, Joint Committee on Taxation


GERALD AUTEN and DAVID JOULFAIAN, U.S. Department of the Treasury--The Taxable Income Elasticity Revisited: Evidence from a Long Panel


ITHAI LURIE and BRADLEY HEIM, U.S. Department of the Treasury--Do Increased Premium Subsidies Affect How Much Health Insurance Is Purchased? Evidence from the Self-Employed


BRADLEY HEIM, U.S. Department of the Treasury--The Responsiveness of Reported Self-Employment Income to Tax Rate Changes


THORNTON MATHESON, U.S. Department of the Treasury--The Effect of the Corporate Income Tax on Leverage in Public Corporations


Discussants: LEN BURMAN, Urban Institute

      WILLIAM GENTRY, Williams College



Jan. 4, 2:30 pm



Competition and Technology in Transportation


Presiding: JEFFREY P. COHEN, University of Hartford


JAN BRUECKNER and VIVEK PAI, University of California-Irvine--Technological Innovation in the Airline Industry: The Impact of Regional Jets


W. DAVID WALLS and LASHENG YUAN, University of Calgary--Organization, Strategy, and Competition in Transportation Networks


KEVIN HENRICKSON, Gonzaga University, and WESLEY WILSON, University of Oregon--Market Dominance and Competition: A Study of Spatial Price Discrimination in Rail Markets


JIA YAN, Washington State University, XIAOWEN FU, Hong Kong Polytechnic University, and TAE OUM, University of British Columbia--Market Power, Product Differentiation, and Hub Premium


Discussants: ROBERT WINDLE, University of Maryland

KEN BUTTON, George Mason University

ANDREW HAUGHWOUT, Federal Reserve Bank of New York

JOHN HOWARD BROWN, Georgia Southern University



Jan. 4, 2:30 pm



Issues in Development, Finance and Institutional Economics (O1)


Presiding: EDWARD NELL, New School for Social Research


PHIL O'HARA, Curtin University--Social Structures of Accumulation Theory and Empirics: Reassessment, Reconstruction, and Future Research


CAMERON M. WEBER, New School of Social Research--Questioning Development Orthodoxy


RAMAA VASUDEVAN, Colorado State University--From the Gold Standard to the Floating Dollar Standard: The Relevance of Marx's Conception of World Money


MATIAS VERNENGO and YONGBOK JEON, University of Utah--Verdoorn Effects in the U.S. Economy


Discussants: SCOTT CARTER, University of Tulsa

LAURIE JOHNSON, University of Denver





Jan. 4, 4:45 pm



Richard T. Ely Lecture        


Presiding: AVINASH DIXIT, Princeton University            


SIR NICHOLAS STERN, HM Treasury, UK Government--Economics of Climate Change



Jan. 4, 6:00 pm



Presidential Address and General Meeting



Jan. 4, 7:00 pm



T.W. Schultz Memorial Dinner and Keynote Address


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


      DANIEL MCFADDEN, University of California-Berkeley



Saturday, January 5, 2008


Jan. 5, 7:45 am



Presidential Breakfast


Presiding: JOHN B. DAVIS, Marquette University and University of Amsterdam


            JOHN P. TIEMSTRA, Calvin College--Rethinking the Costs of Economic Growth



Jan. 5, 8:00 am



Growth, Globalization, and Nutrition and Health Standards in Food Markets (I1)


Presiding: SCOTT ROZELLE, Stanford University


      JOHAN SWINNEN, University of Leuven (KUL)--The Political Economy of Nutrition and Health Concerns and Regulations in Food Markets


SCOTT ROZELLE, Stanford University, and JIKUN HUANG--Changes In Food Standards With Growth: Evidence from The Horticultural Revolution in China


BART MINTEN, IFPRI-New Delhi Office--On the Benefits of Improving Food Standards in Poor Economies: Evidence from Madagascar


Discussant: TERRY ROE, University of Minnesota            



Jan. 5, 8:00 am



The Subprime Mortgage Crisis


Presiding: To be announced.


      ALAN BLINDER, Princeton University

      PAUL KRUGMAN, Princeton University

      NOURIEL ROUBINI, New York University

      ROBERT SHILLER, Yale University



Jan. 5, 8:00 am



Neuroeconomic Models of Economic Decision-Making


Presiding: B. DOUGLAS BERNHEIM, Princeton University


ANTONIO RANGEL, CalTech and NBER--The Role of Computation Time in the Construction of Decision Values


ANDREW CAPLIN, MARK DEAN, and PAUL GLIMCHER, New York University--Neuroeconomics: Axioms and Experiments


ISABELLE BROCAS and JUAN D. CARILLO, University of Southern California and CEPR--The Architecture of the Brain: Conflicts and Constraints


Discussants: DAVID LAIBSON, Harvard University

DREW FUDENBERG, Harvard University

ALBERTO BISIN, Harvard University



Jan. 5, 8:00 am



Better Living through Economics: III


Presiding: JOHN SIEGFRIED, Vanderbilt University


MICHAEL BOSKIN, Stanford University--Price Indexes


JOHN B. TAYLOR, Stanford University--Monetary Policy


ANNE KRUEGER, Johns Hopkins University--Trade Liberalization


Discussants:  JERRY HAUSMAN, Massachusetts Institute of Technology

      LAURENCE MEYER, Macroeconomic Advisers, Inc.

      DOUGLAS IRWIN, Dartmouth College



Jan. 5, 8:00 am



Empirical Work on Asymmetric Information in Insurance Markets


Presiding: AMY FINKELSTEIN, Massachusetts Institute of Technology


PIERRE-ANDRE CHIAPPORI and BERNARD SALANIE, Columbia University--Modeling Competition and Market Equilibrium under Asymmetric Information: Empirical Issues


ALESSANDRO LIZZERI, New York University, and IGAL HENDEL, Northwestern University--Who Commits to Long-Term Contracts? How Much Does It Cost? The Case of Life Insurance


DAVID CUTLER, Harvard University, AMY FINKELSTEIN, Massachusetts Institute of Technology, and KATHLEEN MCGARRY, University of California-Los Angeles--Preference Heterogeneity in Insurance Markets


Discussants: LIRAN EINAV, Stanford University

HANMING FANG, Yale University

TOMAS PHILIPSON, University of Chicago



Jan. 5, 8:00 am



Do We Have Enough Merit Goods: A Symposium in Honor of Richard Musgrave


Presiding: BARBARA R. BERGMANN, American University


      HENRY AARON, Brookings Institution

      JAMES HINES, University of Michigan

      DUTCH LEONARD, Harvard University

      JOSEPH NEWHOUSE, Harvard Universitry

      WALLACE OATES, University of Maryland

      PEGGY MUSGRAVE, University of California-Santa Cruz



Jan. 5, 8:00 am



Dynamic Bargaining and Coalition Formation (C7)


Presiding: MUHAMET YILDIZ, Massachusetts Institute of Technology


ALP SIMSEK and MUHAMET YILDIZ, Massachusetts Institute of Technology--Durability of Bargaining Power and Deadline Effect


WILLIAM FUCHS, University of Chicago, and ANDRZEJ SKRZYPACZ, Stanford University--Bargaining with Arrival of New Traders


DARON ACEMOGLU, Massachusetts Institute of Technology, GEORGY EGOROV, Harvard University, and KONSTANTIN SONIN, New Economic School--Dynamics and Stability of Constitutions, Coalitions, and Clubs


ATTILA AMBRUS and SHIH-EN LU, Harvard University--Fixed Deadline Multilateral Bargaining with Random Arrival Times


Discussants: ANDRZEJ SKRZYPACZ, Stanford University

GEORGY EGOROV, Harvard University

ATTILA AMBRUS, Harvard University

MUHAMET YILDIZ, Massachusetts Institute of Technology



Jan. 5, 8:00 am



Agglomeration and Wages (R0)


Presiding: EDWARD L. GLAESER, Harvard University


EDWARD L. GLAESER, Harvard University--Agglomeration and Wages: Opening Remarks


WILLIAM STRANGE, University of Toronto, MARIGEE BACOLOD, University of California-Irvine, and BERNARDO BLUM, University of Toronto--Skills in the City: A Hedonic Approach to the Urban Wage Premium


GILLES DURANTON, University of Toronto, PIERRE-PHILIPPE COMBES, GREQAM - University of Aix-Marseille, and LAURENT GOBILLON, Institut National d'Etudes Démographiques--Spatial Wage Disparities: Sorting Matters!


STEPHEN L. ROSS, University of Connecticut, and SHIHE FU, Southwestern University of Finance and Economics--Wage Premia in Employment Clusters: Agglomeration Economies or Worker Heterogeneity?


Discussants:  JAMES B. REBITZER, Case Western Reserve University

STUART S. ROSENTHAL, Syracuse University

DAN A. BLACK, University of Chicago



Jan. 5, 8:00 am



Optimal Policy in New DSGE Environments (D6)


Presiding: SANJAY CHUGH, University of Maryland


STEPHANIE SCHMITT-GROHE and MARTIN URIBE, Duke University--Comparing Two Variants of Calvo-Type Wage Stickiness


ESTER FAIA, University of Rome--Ramsey Monetary Policy with Labor Market Frictions


DAVID ARSENEAU and SANJAY CHUGH, Federal Reserve Board--Optimal Fiscal and Monetary Policy with Costly Wage Bargaining


BORAGAN ARUOBA, University of Maryland, and SANJAY CHUGH, Federal Reserve Board--Optimal Fiscal and Monetary Policy When Money is Essential


Discussants: DALE HENDERSON, Federal Reserve Board

SANJAY CHUGH, University of Maryland

THOMAS LUBIK, Federal Reserve Bank of Richmond

STEFANIA ALBANESI, Columbia University



Jan. 5, 8:00 am



Lab and Field Experiments on Ethnic Differences (C9)


Presiding: TOMOMI TANAKA, Arizona State University


MARCO CASTILLO, Georgia Institute of Technology, RAGAN PETRIE, Georgia State University, and MAXIMO TORERO, International Food Policy Research Institute--Ethnic and Social Barriers to Cooperation: Experimental Evidence of the Extent and Nature of Discrimination in Urban Peru


CARMIT SEGAL, Harvard Business School, MURIEL NIEDERLE, Stanford University, RAGAN PETRIE, Georgia State University, and LISE VESTERLUND, University of Pittsburgh--Race Differences in Competitive Attitudes


TOMOMI TANAKA, Arizona State University, COLIN CAMERER, California Institute of Technology, and QUANG NGUYEN, University of Hawaii--Status, Ethnicity, and Wealth in Vietnam: Evidence from Experimental Games


Discussants: TANYA ROSENBLAT, Wesleyan University

SEDA ERTAC, University of Chicago

ROBERTO WEBER, Carnegie Mellon University



Jan. 5, 8:00 am



Entry and Industry Dynamics (L1)


Presiding: BRUCE PETERSEN, Washington University


VICTOR AGUIRREGABIRIA, University of Toronto, and CHUN-YU HO, Boston University--A Dynamic Oligopoly Game of the U.S. Airline Industry: Estimation and Policy Experiments


TIMOTHY DUNNE, Federal Reserve Bank of Cleveland, SHAWN KLIMEK, U.S. Census Bureau, MARK ROBERTS, and YI XU, Pennsylvania State University--Market Structure and Industry Dynamics in Service Industries


JAMES BROWN, Montana State University, and BRUCE PETERSEN, Washington University--Public Entrants, Public Equity Finance and Creative Destruction in the High-Tech Sector


BOYAN JOVANOVIC, New York University, and PETER ROUSSEAU, Vanderbilt University--Vintage Organization Capital


Discussants: SHAWN KLIMEK, U.S. Census Bureau

VICTOR AGUIRREGABIRIA, University of Toronto

TIMOTHY DUNNE, Pennsylvania State University

BRUCE PETERSEN, Washington University



Jan. 5, 8:00 am



Market Segmentation and Asset Prices (G1)


Presiding: HAROLD COLE, University of Pennsylvania


YILI CHIEN, Purdue University, HAROLD COLE, University of Pennsylvania, and HANNO LUSTIG, University of California-Los Angeles--Asset Prices and Consumption Allocations with Heterogeneous Trading Opportunities


FRANCISCO GOMES, London Business School--Fiscal Policy, Asset Pricing and Economic Activity in a Savers-Spenders Economy


FATIH GUVENEN, University of Texas-Austin, and MARTIN SCHNEIDER, New York University--Consumption Risk and Portfolio Choice


MARKUS BRUNNERMEIER, Princeton University, STEFAN NAGEL, Stanford University, and LASSE PEDERSEN, New York University--Carry Trades and Currency Crisis


Discussants: NARAYANA KOCHERLAKOTA, University of Minnesota

DIRK KRUEGER, University of Pennsylvania

URBAN JERMANN, University of Pennsylvania

ADRIEN VERDELHAN, Boston University



Jan. 5, 8:00 am



Information in General Equilibrium Models of the Business Cycle (E3)


Presiding: BRUCE MCGOUGH, Oregon State University


RICARDO REIS, Princeton University, and GREGORY MANKIW, Harvard University--Sticky InformaItion in General Equilibrium


CHRISTIAN HELLWIG, University of California-Los Angeles--Heterogeneous Information and Business Cycle Fluctuations


WILLIAM DUPOR, Ohio State University, TOMIYUKI KITAMURA, and TAKAYUKI TSURUGA, --Do Sticky Prices Need to Be Replaced with Sticky Information?


BRUCE MCGOUGH, Oregon State University, WILLIAM BRANCH, University of California-Irvine, JOHN CARLSON, Federal Reserve Bank of Cleveland, GEORGE EVANS, University of Oregon--Adaptive Learning, Endogenous Inattention, and Changes in Monetary Policy


Discussants:  JOHN WILLIAMS, Federal Reserve Bank of San Francisco

      BRUCE MCGOUGH, Oregon State University





Jan. 5, 8:00 am



International Finance and Capital Flows (F3)


Presiding: CHARLES ENGEL, University of Wisconsin


MEHMET CANER and STEVEN HUSTED, University of Pittsburgh--Capital Inflows to Developed Countries


VALERIE CERRA, International Monetary Fund, and SWETA SAXENA, Bank for International Settlements--The Monetary Model Strikes Back: Evidence from the World


MARCO CIPRIANI and GRACIELA KAMINSKY, George Washington University--A New Era of International Financial Integration: Global, Market, and Regional Factors


ANDREW ROSE, University of California-Berkeley--A Stable International Monetary System Emerges: Bretton Woods, Reversed


Discussants: RAMON MORENO, Bank for International Settlements

CHARLES ENGEL, University of Wisconsin

ESWAR PRASAD, Cornell University

MICHAEL DOOLEY, University of California-Santa Cruz



Jan. 5, 8:00 am



Assignment, Uncertainty and Wage Inequality (D3)


Presiding: LUIS GARICANO, University of Chicago


FLAVIO CUNHA, University of Chicago--Stochastic Volatity in Labor Income Across Schooling Groups


ARNAUD DUPUY, Maastricht University--Educational Self-selection, Tasks Assignment and Rising Wage Inequality


MICHAEL SATTINGER, State University of New York-Albany--Assignment, Hierarchies and Upper Tails


LUIS GARICANO, University of Chicago, and THOMAS HUBBARD, Northwestern University--The Return to Knowledge Hierarchies


Discussants:  LINDA WONG, State University of New York-Binghamton

MARKO TERVIÖ, University of California-Berkeley

XAVIER GABAIX, Massachusetts Institute of Technology

GERARD PFANN, Maastricht University



Jan. 5, 8:00 am



International Migration and Remittances (O1)


Presiding: DEAN YANG, University of Michigan


EDWARD MIGUEL and JOAN HAMORY, University of California-Berkeley--Individual Ability and Selection into Migration in Kenya


NAVA ASHRAF, Harvard Business School, CLAUDIA MARTINEZ, University of Chile, DEAN YANG, and DIEGO AYCINENA, University of Michigan--Remittances and the Problem of Control: A Field Experiment with Migrant Families in El Salvador and Washington, D.C.


MICHAEL KREMER, RYAN BUBB, Harvard University, and DAVID LEVINE, University of California-Berkeley--The Economics of International Refugee Law


DAVID MCKENZIE, World Bank, JOHN GIBSON, University of Waikato, and STEVEN STILLMAN, Motu Economic and Public Policy Research--The Impacts of International Migration on Remaining Household Members: Omnibus Results from a Migration Lottery Program


Discussants: CHRIS WOODRUFF, University of California-San Diego


SEEMA JAYACHANDRAN, Stanford University

MARK ROSENZWEIG, Yale University



Jan. 5, 8:00 am





Presiding: PRESTON MCAFEE, Caltech and Yahoo Research


JINGFENG LU, National University of Singapore--A Unified Framework for Auctions Design with Identity-Specific and Financial Externalities


LUCIANO DE CASTRO, University of Illinois-Urbana-Champaign--Affiliation, Equilibrium Existence and the Revenue Ranking of Auctions


DANIEL ELFENBEIN and BRIAN MCMANUS, Washington University-St. Louis--A Greater Price for a Greater Good? The Charity Premium in Online Auctions


Discussant: CHARLES ZHENG, Iowa State University



Jan. 5, 8:00 am



Propagation Mechanisms in Business Cycle Models


Presiding: NOBUHIRO KIYOTAKI, Princeton University


EDWARD KNOTEK II, Federal Reserve Bank of Kansas City--A Tale of Two Rigidities: Sticky Prices in a Sticky-Information Environment


ROGER ALIAGA-DIAZ and MARIA PIA OLIVERO, Drexel University--Macroeconomic Implications of Market Power in Banking


ANDRE SILVA, Universidade Nova de Lisboa--Prices and Money after Interest Rate Shocks with Endogenous Market Segmentation


CATERINA MENDICINO, Bank of Canada--On the Amplification Role of Collateral Constraints


Discussants:  RICARDO REIS, Princeton University

ADAM ASHCRAFT, Federal Reserve Bank of New York

MURILLO CAMPELLO, University of Illinois

NOBUHIRO KIYOTAKI, Princeton University



Jan. 5, 8:00 am



The Impact of School Policies on Student Achievement


Presiding: BRIDGET LONG, Harvard University


SAMRAT BHATTACHARYA, Fifth Third Bank--Effects of Repeating a Grade on Child Test Scores


JANE COOLEY, University of Wisconsin-Madison--Determining "Optimal" Classroom Groupings: Harnessing the Power of Peers


FANG LAI LAI, New York University--How Do Classroom Peers Affect Student Outcomes? Evidence from a Natural Experiment in Beijing's Middle School Admission Procedure


RAJASHRI CHAKRABARTI, Federal Reserve Bank of New York--The Effect of No Child Left Behind on Public Schools: The Role of Sanctions versus Stigma


Discussants: JORDAN MATSUDAIRA, University of California-Berkeley

      BRIDGET LONG, Harvard University

      LARS LEFGREN, Brigham Young University



Jan. 5, 8:00 am



Incentives and Pro-social Behavior: Evidence from Field Experiments (C9)


Presiding: ROLAND BENABOU, Princeton University


NICOLA LACETERA, Case Western Reserve University, and MARIO MACIS, University of Michigan--Intrinsic and Extrinsic Motivations: A Study of Italian Blood Donors, 1980-2005


LORENZ GOETTE, Federal Reserve Bank of Boston, and ALOIS STUTZER, University of Basel--Blood Donation and Incentives: Evidence From a Large-Scale Field Experiment


DAN ARIELY, Massachusetts Institute of Technology, ANAT BRACHA, Tel Aviv University, STEPHAN MEIER, Federal Reserve Bank of Boston--Incentives and the Signal of Behaving Pro-Socially: Evidence from Field and Lab Experiments


SERA LINARDI and MARGARET ANNE MCCONNELL, California Institute of Technology--What Motivates Volunteers?  Field and Lab Experiments


Discussants: ALDO RUSTICHINI, University of Minnesota

RACHEL CROSON, University of Pennsylvania

ARMIN FALK, University of Bonn

FELIX OBERHOLZER-GEE, Harvard Business School



Jan. 5, 8:00 am



Presentations from the Teaching Innovations Program (TIP) for Economics Instructors 


Presiding:  MICHAEL SALEMI, University of North Carolina


      DAGNEY FAULK, Indiana University Southeast--Formative and Summative Assessment in Economics Principles Courses: Are Applied Group Exercises Effective?


      WAYNE A. GROVE, Lemoyne College, and JERRY EVENSKY, Syracuse University--Student Effort, Feedback about Their Effort, and Learning


GAIL HEYNE HAFER, St. Louis Community College Meramec--Using Cooperative Learning to Enhance Student Research and Writing


      KIRSTEN MADDEN, Millersville University--Engaged Learning with the Interpretive Question Cluster Discussion Technique:  Student Outcomes in a History of Economic Thought Course


Discussants:  YU-MONG HSIAO, Campbell University

      TOM SCHEIDING, Elizabethtown College

      BRIAN PETERSON, Central College

      JUDY SMRHA, Baker University



Jan. 5, 8:00 am



Worker Flows from a Comparative Perspective (P5)


Presiding: ADRIANA KUGLER, University of Houston


      STEPAN JURAJDA, Center for Economic Research and Graduate Education of Charles University, Czech Republic, and KATHERINE TERRELL, University of Michigan--Regional Labor Markets and Human Capital in Transition Economies


      JOHN HALTIWANGER, University of Maryland, STEFANO SCARPETTA, Organization for Economic Development and Cooperation, and HELENA SCHWEIGER, European Bank for Reconstruction--Assessing Job Flows Across Countries: The Role of Industry, Firm-size and Regulations


      ALEJANDRO MICCO, Central Bank of Chile, and CARMEN PAGES, Inter-American Development Bank--The Economic Effects of Employment Protection: Evidence from International Industry-Level Data


      ADRIANA KUGLER, University of Houston--The Effects of Employment Protection in Europe and the U.S.


Discussants:  DAVID AUTOR, Massachusetts Institute of Technology

      STEPAN JURAJDA, Center for Economic Research and Graduate Education of Charles University, Czech Republic

      STEFANO SCARPETTA, Organization for Economic Development and Cooperation

      LAWRENCE KAHN, Cornell University



Jan. 5, 8:00 am



China's Evolving Labor Markets


Presiding: DENNIS T. YANG, Virginia Tech and Chinese University of Hong Kong


SUE GE, Virginia Tech, and DENNIS T. YANG, Virginia Tech and Chinese University of Hong Kong--Accounting for Rising Wages in China


HONGBIN LI and JUNSEN ZHANG, Chinese University of Hong Kong--Why Doesn't Education Pay in Urban China?


ALBERT PARK, University of Michigan, and YAOHUI ZHAO, Peking University--The Impact of Migration on the Relative Earnings of Skilled and Unskilled Workers in Urban China


JOHN GILES, Michigan State University, and ALAN DE BRAUW, International Food Policy Research Institute--Migrant Opportunity and the Educational Attainment of Youth in Rural China


Discussants: BELTON M. FLEISHER, Ohio State University and IZA

      NANCY QIAN, Brown University

      SUE GE, Virginia Tech

      WILLIAM MCGUIRE, Ohio State University



Jan. 5, 8:00 am



Asian Financial Crisis: Ten Years Later (F3)


Presiding: YONG H. KIM, University of Cincinnati


      ROBERT H. DEKLE, University of Southern California, and HUAYU SIN, University of International Business and Economics--Will China Experience a Crisis as in East Asia?


      YIN-WONG CHEUNG, University of California-Santa Cruz, MENZIE CHINN, University of Wisconsin, and EIJI FUJII, University of Tsukuba--China's Current Account and Exchange Rate


      JONG-WHA LEE, Korea University and Asian Development Bank--Macroeconomic and Financial Interdependence in East Asia: Ten Years after the Crisis


      SOYOUNG KIM, Korea University, and YUNG CHUL PARK, Seoul National University--Inflation Targeting in Korea: A Model of Success?


Discussants: JEFFREY FRANKEL, Harvard University

      YU-CHIN CHEN, University of Washington

      YOONBAI KIM, University of Kentucky

      JINILL KIM, Federal Reserve Board



Jan. 5, 8:00 am



Bank Risk

Presiding: ALLEN BERGER, Federal Reserve Board


CEM DEMIROGLU and CHRISTOPHER M. JAMES, University of Florida--The Information Content of Bank Loan Covenants


JESUS SAURINA SALAS, GABRIEL JIMENEZ, Bank of Spain, and JOSÉ A. LOPEZ, Federal Reserve Bank of San Francisco--How Does Competition Impact Bank Risk Taking?


LARS NORDEN and MARTIN WEBER, University of Mannheim--Checking Account Information and Credit Risk of Bank Customers


VASSO IOANNIDOU and STEVEN R.G. ONGENA, Tilburg University--'Time for a Change': Loan Conditions and Bank Behavior when Firms Switch


Discussants: CHRISTA BOUWMAN, Case Western Reserve University
LORETTA MESTER, Federal Reserve Bank of Philadelphia
LAMONT BLACK, Government of the United States of America



Jan. 5, 8:00 am



Credit Risk


Presiding: ROBERT GOLDSTEIN, University of Minnesota-Twin Cities


ANDREA BURASCHI, Imperial College London, FABIO TROJANI, and ANDREA VEDOLIN, University of St. Gallen--The Joint Behavior of Credit Spreads, Stock Options and Equity Returns when Investors Disagree


ANTJE BERNDT and ANASTASIYA OSTROVNAYA, Carnegie Mellon University--Information Flow Between Credit Default Swap, Option and Equity Markets


MARK CAREY and MICHAEL B. GORDY, Government of the United States of America--The Bank as Grim Reaper: Debt Composition and Recoveries on Defaulted Debt


Discussants: ALEXANDER DAVID, University of Calgary
GAIYAN ZHANG, University of Missouri-St. Louis
SERGEI DAVYDENK, University of Toronto



Jan. 5, 8:00 am



Proxy Voting, Privatization and Boards of Directors

Presiding: MICHAEL WEISBACH, University of Illinois-Urbana-Champaign


CINDY R. ALEXANDER, Securities and Exchange Commission, MARK A. CHEN, Georgia State University, DUANE J. SEPPI, and CHESTER S. SPATT, Carnegie Mellon University--The Role of Advisory Services in Proxy Voting


MARTIJN CREMERS, Yale School of Management, and ROBERTA ROMANO, Yale University--Institutional Investors and Proxy Voting: The Impact of the 2003 Mutual Fund Voting Disclosure Regulation


JIANPING DENG, University of Electronic Science and Technology of China, JIE GAN, Hong Kong University of Science & Technology, and JIA HE, Chinese University of Hong Kong--Privatization, Large Shareholders' Incentive to Expropriate, and Firm Performance


JEFFREY L. COLES, Arizona State University, NAVEEN D. DANIEL, and LALITHA NAVEEN, Purdue University--Co-Opted Boards: Causes and Consequences


Discussants: GREGOR MATVOS, University of Chicago
CHESTER SPATT, Carnegie Mellon University
MARA FACCIO, Purdue University
RENÉE ADAMS, Stockholm School of Economics



Jan. 5, 8:00 am



Volume and Liquidity

Presiding: JENNIFER HUANG, University of Texas-Austin


DANIEL DORN, Drexel University, and GUR HUBERMAN, Columbia University--Turnover and Volatility


TIMOTHY C. JOHNSON, London Business School--Volume, Liquidity, and Liquidity Risk


MARZENA J. ROSTEK and MAREK WERETKA, University of Wisconsin-Madison--The Time Structure of Price Impact in Thin Financial Markets


Discussants: BING HAN, University of Texas-Austin
ARVIND KRISHNAMURTHY, Northwestern University
DIMITRI VAYANOS, London School of Economics & Political Science



Jan. 5, 8:0 0am



Mutual Funds

Presiding: MARK GRINBLATT, University of California-Los Angeles


THEODORE E. DAY, University of Texas-Dallas, GEORGE Z. LI, New Jersey City University and YEXIAO XU, University of Texas-Dallas--Dividend Distributions and Closed-End Fund Discounts


RUSS R. WERMERS, University of Maryland, YOUCHANG WU, and JOSEF ZECHNER, University of Vienna--Portfolio Performance, Discount Dynamics, and the Turnover of Closed-End Fund Managers


ODED BRAVERMAN, SHMUEL KANDEL, and AVI WOHL, Tel Aviv University--Aggregate Mutual Fund Flows and Subsequent Market Returns


Discussants: JEFFREY PONTIFF, Boston College
LU ZHENG, University of California-Irvine
SHERIDAN TITMAN, University of Texas-Austin



Jan. 5, 8:00 am



Real Estate Derivatives  (G1)


Presiding: BRENT W. AMBROSE, Pennsylvania State University


PENG LIU, University of California-Berkeley--A Simple Model of Hedging on Forward Contracts of Real Estates


PATRICK LECOMTE, University Of Cincinnati--Beyond Index-Based Hedging: Can Real Estate Trigger a New Breed of Derivatives Market?


YONGHENG DENG, University of Southern California, and JOHN QUIGLEY, University of California - Berkeley--Index Revision, House Price Risk, and the Market for House Price Derivatives


JEFFERSON DUARTE, University of Washington, and DOUGLAS MCMANUS, Freddie Mac--Residential Mortgage Credit Derivatives


Discussants:  BARBARA BUKHVALOVA, Norwegian School of Management
 GIANLUCA MARCATO, University of Reading
 DAVID FELDMAN, University of New South Wales
 RICHARD BUTTIMER, University of North Carolina-Charlotte



Jan. 5, 8:00 am



Housing the Elderly (R2)


Presiding: PETER CHINLOY, American University


MARTIN FARNHAM, University of Victoria, and PURVI SEVAK, Hunter College--Housing Wealth and Retirement Timing


TODD SINAI and NICHOLAS SOULELES, University of Pennsylvania--Net Worth and Housing Equity in Retirement


ZHENGUO LIN, YINGCHUN LIU, and VINCENT YAO, Fannie Mae--Ownership Restriction and Housing Value: Evidence from American Housing Survey


GARY DEAN PAINTER and KWAN OH LEE, University of Southern California--Why Do Elderly Homeowners Become Renters? Life Cycle and Demographic Transitions


Discussants:  ISAAC MEGBOLUGBE, Johns Hopkins University
 MAN CHO, KDI School
 WILLIAM HARDIN, Florida International University
 SCOTT SUSIN, U.S. Census Bureau



Jan. 5, 8:00 am



Hedonics & Valuation  (R3)


Presiding: DEAN H. GATZLAFF, Florida State University


GANG-ZHI FAN, and WEINA ZHANG, National University of Singapore--An Indifference Binomial Valuation of Urban Land Bid and Asking Prices


A. MONIQUE PARKES and HENRY MUNNEKE, University of Georgia--Catalysts or Cannibals: Are There Spillover Effects From Economic Development Programs?


DOUGLAS J. KRUPKA, IZA Bonn, and DOUGLAS SIMPSON NOONAN, Georgia Institute of Technology--Empowerment Zones, Neighborhood Dynamics, and Direct and Indirect Effects on Housing Values


JOHN CLAPP, University of Connecticut, JYH-BANG JOU, National Taiwan University, and TAN LEE, Yuan Ze University--Hedonic Pricing with Redevelopment Options


Discussants: CARLOS SLAWSON, Louisiana State University
 DAVID MACPHERSON, Florida State University
 DAVID BRASINGTON, Louisiana State University
 TIMOTHY RIDDIOUGH, University of Wisconsin-Madison



Jan. 5, 8:00 am



Origins and Significance of Circular and Cumulative Causation (B5)


Presiding: JOHN F. HENRY, University of Missouri-Kansas City


JOHN HALL, Portland State University, and OLIVER WHYBROW, University of Leuven--Continuity, Continuousness, and the Chain of Ideas: Linking Peirce's Synechism and Veblen's Circular and Cumulative Causation

SEBASTIAN BERGER, University of Missouri-Kansas City--Veblen, Myrdal, and Kapp:  Meaning and Application of Circular and Cumulative Causation

RIC HOLT, Southern Oregon University, and STEVE PRESSMAN, Monmouth University--Nicholas Kaldor and his Principle of Cumulative Causation
PHILLIP ANTHONY O'HARA, Curtin University--Circular and Cumulative Causation: A Comparison of Myrdal and Kaldor on Growth and Development Dynamics
F. GREGORY HAYDEN, University of Nebraska--Circular and Cumulative Causation and the Social Fabric Matrix

Discussants: EDWARD J. NELL, New School for Social Research

MATHEW FORSTATER, University of Missouri-Kansas City



Jan. 5, 8:00 am



Public Health Impacts of Air and Water Pollution (Q5)


Presiding: MARY EVANS, University of Tennessee-Knoxville

MARY DAVIS, University of Maine and Harvard School of Public Health, and THOMAS SMITH, Harvard School of Public Health--The Relationship between Economic Trends and Pollution Exposure in a Population of Workers Exposed to Diesel Exhaust


VALERIE MUELLER, Columbia University, ALEXANDER PFAFF, Duke University, JOHN PEABODY, University of California-San Francisco, YAPING LIU, First Hospital of Tsinghhua Hospital, Beijing, China, TRAVIS RIDDELL, Boston Children's Hospital, and KIRK SMITH, University of California-Berkeley--Evaluating the Health Impacts of Improved Stoves in China Using Propensity Score Matching


TIMOTHY BEATTY, University of York, and JAY SHIMSHACK, Tufts University--School Buses, Diesel Emissions, and Children's Health

SHANTI GAMPER-RABINDRAN, University of Pittsburgh, SHAKEEB KHAN, Duke University, and CHRIS TIMMINS, Duke University--The Impact of Piped Water Provision on Infant Mortality in Brazil: A Quantile Panel Data Approach


Discussants: NATALIE SIMON, U.S. Environmental Protection Agency

SUBHRENDU PATTANAYAK, Research Triangle Institute

JOSEPH ALDY, Resources for the Future

SYLVIA BRANDT, University of Massachusetts



Jan. 5, 8:00 am



CEOs (G3)


Presiding:  STEVEN KAPLAN, University of Chicago


MORTEN BENNEDSEN, Copenhagen Business School, FRANCISCO PÉREZ-GONZALEZ, Columbia University, and DANIEL WOLFENZON, New York University--Do CEOs Matter?


LUCIAN ARYE BEBCHUK, Harvard Law School, MARTIJN CREMERS, Yale School of Management, and URS PEYER, INSEAD--CEO Centrality


KOSE JOHN, New York University, and DALIDA KADYRZHANOVA, Columbia University--CEOs, Geography, and Peer Influences in Governance


ANTOINETTE SCHOAR, Massachusetts Institute of Technology--CEO Careers and Style


Discussants: ROBERT PARRINO, University of Texas

ANIL SHIVDASANI, University of North Carolina

S. ABRAHAM RAVID, Cornell University and Rutgers University

      MORTEN SORENSON, University of Chicago



Jan. 5, 8:00 am



Econometric Theory  (C1)


Presiding: AMAN ULLAH, University of California-Riverside


NINA BOYARCHENKO, University of Chicago, and SERGE LEVENDORSKII--University of Texas-Austin, Estimating Equations For A Class Of Time-Irreversible Multi-Factor Models


MARTIN BURDA, University of Toronto--Local Generalized Minimum Contrast Estimation of Conditional Moment Restrictions Models


ANIL BERA, GABRIEL MONTES-ROJAS, University of Illinois-Urbana-Champaign, and WALTER SOSA-ESCUDERO, Universidad de San Andres, Argentina--General Specification Testing with Locally Misspecified Models


LIANGJUN SU, Peking University, and AMAN ULLAH, University of California-Riverside--Local Polynomial Estimation of Nonparametric Simultaneous Equations Models



Jan. 5, 8:00 am



Economics of Segregation (R2)


Presiding: NATHANIEL BAUM-SNOW, Brown University


JUDITH K. HELLERSTEIN, University of Maryland, DAVID NEUMARK, University of California-Irvine, and MELISSA MCINERNEY, U.S. Census Bureau--Spatial Mismatch Or Racial Mismatch?


YANNIS M. IOANNIDES, Tufts University, and GIULIO ZANELLA, University of Siena--Searching for the Best Neighborhood


BULENT ANIL and DAVID L. SJOQUIST, Georgia State University--The Move Decision among Low-Income Households


DAVID CARD, ALEXANDRE MAS, University of California-Berkeley, and JESSE ROTHSTEIN, Princeton University--Tipping and the Dynamics of Segregation


Discussants: NATHANIEL BAUM-SNOW, Brown University

JONATHAN GURYAN, University of Chicago



Jan. 5, 8:00 am



Search Theory  (D8)


Presiding: SUSAN VROMAN, Georgetown University


SIMON BOARD, University of Toronto--Relational Contracts with On-the-Job Search


GABRIELE CAMERA, Purdue University, and CEMIL SELCUK, Washington & Lee University--Price Dispersion with Directed Search


JAMES ALBRECHT, AXEL ANDERSON, and SUSAN VROMAN, Georgetown University--Search by Committee


JAN EECKHOUT and PHILIPP KIRCHER, University of Pennsylvania--The Sorting Effect of Price Competition


Discussants: LEENA RUDANKO, University of Chicago

IAN KING, University of Otago

GUIDO MENZIO, University of Pennsylvania

      SHOUYONG SHI, University of Toronto



Jan. 5, 8:00 am



Dynamic Industrial Organization (L0)


Presiding: MATTI LISKI, Helsinki School of Economics


JAN BOONE, Tilburg University, and JOEL SHAPIRO, Universitat Pompeu Fabra--Selling to Consumers with Endogenous Types


VOLKER NOCKE, Oxford University, and MICHAEL D. WHINSTON, Northwestern University--Sequential Merger Review


JAMES D. DANA JR. and YUK-FAI FONG, Northwestern University--Product Quality, Reputation, and Tacit Collusion


LUDWIG RESSNER and MARKUS REISINGER, University of Munich--Dynamic Duopoly with Inattentive Firms


REYER GERLAGH, University of Manchester, and MATTI LISKI, Helsinki School of Economics--Strategic Oil-Dependence



Jan. 5, 8:00 am



Matching and Market Design  (C7)


Presiding: ALVIN E. ROTH, Harvard University


PARAG PATHAK, Harvard University, and TAYFUN SONMEZ, Boston College--Leveling the Playing Field: Sincere and Sophisticated Players in the Boston Mechanism


ERIC BUDISH, Harvard University, and ESTELLE CANTILLON, ECARES, Universite Libre de Bruxelles, and CEPR--Strategic Behavior in Multi-unit Assignment Problems: Theory and Evidence from Course Allocations


ATILA ABDULKADIROGLU, Duke University, and SIMON LOERTSCHER, University of Melbourne--Dynamic House Allocations


MAREK PYCIA, Pennsylvania State University--Many-to-One Matching with Complementarities and Peer Effects


Discussants: PAUL MILGROM, Stanford University

MICHAEL OSTROVSKY, Stanford University



Jan. 5, 8:00 am



High Dimensional Estimation (C1)


Presiding: EDWARD VYTLACIL, Columbia University


VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology, and ALEXANDRE BELLONI, IBM and Massachusetts Institute of Technology--Conditional Quantile Processes under Increasing Dimension


JIAN HUANG, University of Iowa, JOEL L. HOROWITZ, Northwestern University, and SHUANGGE MA, Yale University--Asymptotic Properties of Bridge Estimators in Sparse, High-Dimensional Regression Models


ALEXEI ONATSKI, Columbia University-- The Principal Components Estimation Of Large Factor Models When Factors Are Weak


JIANQING FAN, Princeton University, and JIANCHI LV, University of Southern California--Sure Independence Screening for Ultra-High Dimensional Feature Space


Discussants:  JOEL HOROWITZ, Northwestern University

ALEXANDRE BELLONI, IBM and Massachusetts Institute of Technology

JINCHI LV, Princeton University

ALEXEI ONATSKI, Columbia University



Jan. 5, 8:00 am



Money, Banking and Payments (E5)


Presiding: PIERRE-OLIVIER WEILL, University of California-Los Angeles


CYRIL MONNET, European Central Bank, THOR KOEPPL, Queens University, and TED TEMZELIDES, University of Pittsburgh--Payments and Mechanism Design


ANTOINE MARTIN and JAMES MCANDREWS, Federal Reserve Bank of New York--Liquidity Saving Mechanisms


CARLO STRUB, University of Basel, and NADJA WIRZ, University of St. Gallen--Patents and Money


ED NOSAL, Federal Reserve Bank of Cleveland--Matching, Money and the Friedman Rule


Discussants: NEIL WALLACE, Pennsylvania State University

PIERRE-OLIVIER WEILL, University of California-Los Angeles

CESAIRE MEH, Bank of Canada

HUBERTO ENNIS, Federal Reserve Bank of Richmond



Jan. 5, 8:00 am



Concepts and Standards of Good Theories


Presiding: D. WADE HANDS, University of Puget Sound


HANS LIND and JOHAN NYSTROM, Royal Institute of Technology--"Observable" and "Verifiable": Can These be the Basic Concepts in Incomplete Contract Theory?


SAMULI LEPPALA, Turku School of Economics--The Absence of a Definition of Knowledge in Economics: What has Epistemology to Offer?


MENNO ROL, University of Groningen--Conceptual Unification in Economics and Psychology


LUIS MIRELES-FLORES, Erasmus University of Rotterdam--Is Policy Relevance a Theoretical Virtue of Economic Models?


Discussants: D. WADE HANDS, University of Puget Sound

Jan. 5, 8:00 am



The "Value-Added" Contributions of Unions to Improving Health Care Delivery and Patients Outcomes


Presiding: PETER LAZES, Cornell University NYSILR


      PETE CARLSON, Cornell University/NYSILR--Advancing the Front Line of Health Care Transformation


      PAUL CLARK, DARLENE CLARK, Pennsylvania State University, CLIVE FULLAGAR,

       Kansas State University, and DAN GALLAGHER, James Madison University--Union Efforts to Increase Nurse Voice in Patient Care


      JANE NYGAARD, American Federation of Government Employees--AFGE Efforts to Make the Veterans Administration Hospitals a Model of Health Care Delivery


      SONDRA OLENDORF, Maimonides Medical Center--The Importance of Front-Line Participation -- Our Experience at Maimonides Medical Center


      JAMES BIALKE, SEIU Local 113--Pressures on Local Unions to Change and Create Capacity for Value Added Work



Jan. 5, 8:00 am



Innovative Teaching in Labor and Employment Relations


Presiding: CHERYL MARANTO, Marquette University


DAPHNE TARAS, University of Calgary--Using Deception to Make Students Unionize


      DANIEL J.B. MITCHELL, University of California-Los Angeles--The Vision Thing: Integrating Video and Audio Material into Course Instruction


      PAUL F. COLE, American Labor Studies Center--Integrating Labor Studies into the K-12 Curriculum



Jan. 5, 8:00 am



AILR/LERA Best Papers


Presiding: BRUCE KAUFMANN, Georgia State University


SAUL RUBINSTEIN and ADRIENNE EATON, Rutgers University--The Effects of High-Involvement Work Systems on Employee and Union-Management Communications Networks


REBECCA GIVAN, ARIEL AVGAR, and MINGWEI LIU--Having Your Cake and Eating It Too? The Effects of Hospital Restructuring on Diverse Organizational Outcomes


TERRY WAGAR, St. Mary's University, and CLIVE GILSON, University of Waikato--Is Labor Relations Climate Associated with Improved Workplace Performance? Canadian and New Zealand Evidence


MONICA BIELSKI BORIS, University of Arkansas-Little Rock--Identity at Work: U.S. Labor Union Efforts to Address Sexual Diversity Through Policy and Practice


SHARON HERMES, U.S. Government Accountability Office--Private Pension Reform and Personal Accounts in the UK: Implications for Women


GEORGE TSOGAS, Cass Business School--"Roger and Me" or How to Start on a New Paradigm for 21st Century Industrial Relations   



Jan. 5, 8:00 am



Poster Session


Presiding:  SOHRAB BEHDAD, Denison University


GOkhan Ozertan, Bogazici University, Sayed H. Saghaian, University of Kentucky, and Aslıhan D. SpauldIng, Illinois State University--Consumer Responses to Food Scares: The Case of the 2005-2006 Avian Influenza in Turkey


NICO VELLINGA, JAY SQUALLI and KENNETH WILSON, Zayed University--Can a Wage Subsidy Reduce National Unemployment Rate in the UAE?


JEHAD YASIN, Fort Valley State University--Trade among Arab Gulf Countries: A Gravity Model Approach


NAGLA RIZK, American University in Cairo--Intellectual Property Rights and Development: Open Source Software in Egypt


NURHAN DAVUTYAN, Marmara University--Estimating Tax Evasion in Turkey: An Expenditure Based Approach


AMIR KIA, Utah Valley State College -- Money, Deficits, Debts and Inflation in Emerging Countries: Evidence from Turkey


NAEEM MUHAMMAD, University of Wollongong--Short-Term and Long-Term Dynamic Price Linkages among the GCC Stock Markets and between the Stock Markets of the GCC Countries and Important Western Countries


JAY SQUALLI and KENNETH WILSON, Zayed University, UAE--An Estimate of the Private Returns to Education in the UAE


MAHMOUD ABDELBAKY (ELSAKKARY), Southern Illinois University--Exchange Rate Misalignment across De-Facto Exchange Rate Regimes in MENA


EMAN SELIM, Tant University--The Impact of  Exogenous Shocks on the Egyptian Economy and Policy  Responses Since the Seventies


M. ENSAR YESILYURT and FILIZ YESILYURT, Pamukkale University--The Efficiency Analysis of Turkish Manufacturing


AHMET FARUK AYSAN and SANLI PINAR CEYHAN, Bogazici University--Structural Change and Efficiency of Banking in Turkey: Does the Ownership Matter?


O. MIKHAIL, University of Central Florida--The Persistence of Institutions and Economic Outcomes: An Application to Egypt


ALI DARRAT and JAYANTA SARKAR, Louisiana Tech University--Determinants and Growth Consequences of Foreign Direct Investment: The Experience of Major Host Countries in MENA


GWENDOLYN RODRIGUES and NAEEM MUHAMMAD, University of Wollongong--Sources and Impacts of Globalization in the MENA Countries: An Empirical Analysis


SEBOUH AINTABLIAN and MYRNA BOGHOSSIAN, Lebanese American University--Oil: A Blessing or a Curse? The Effect of Oil Price Shocks across Industries in Selected Countries of the MENA Region


SULEIMAN I. COHEN, Erasmus University--UAE Economy More Dualistic than Other GCC?


DOAA SALMAN, MSA University--Women and Myths of Today: An Investigation of the Reasons for Gender Inequalities in Egyptian Rural Areas


HALA EL RAMLY, American University in Cairo--Are Incomes of Arab Countries Converging?


MALDA AL-SARAYJI, George Mason University--Trafficking Traffic!


BASEL SALEH, Radford University--A Fragile Economy, A Fragile Peace: The Case of the Palestinian Authority



Jan. 5, 8:00 am



Forensic Economics II (K4)


Presiding: FRANK L. SLESNICK, Bellarmine University


DAVID H. CISCEL, Emeritus, University of Memphis, and DAVID C. SHARP, Nathan Associates, Inc.-Memphis--Selling Fried Chicken: Issues of Combining Business Losses with Personal Injury -- A Case Study


BOYD L. FJELDSTED, University of Utah--Stationarity of the Real Earnings Growth Rate with Implications for Determination of a Net Discount Rate


SHAEL N. WOLFSON, Forensic Economics, Corp.--Forensic Economic Issues In the Post Katrina Gulf South


Discussants: MARC A. WEINSTEIN, Team Economics, LLC

CHRISTOPHER J. BRUCE, University of Calgary




Jan. 5, 8:00 am



Credit Knowledge and Usage Among Minority Consumers and the Subprime Lending Market (D1)


Presiding: GEORGE GALSTER, Wayne State University


CHARLES BETSEY, Howard University--Perceived Truth: How Perceptions of Creditworthiness Affect Equal Credit Access


SHELIA ARDS, SAMUEL MYERS, University of Minnesota, and INHYUCK HA, Western Carolina University--Misperceptions of Credit Worthiness and Racial Differences in Credit Card Usage


CHRISOPHER RICHARDSON, GMAC Mortgage LLC--An Analysis of Higher-Cost Mortgage Credit: Does Market Competition Matter?


ANGELA M. WILLIAMS FOSTER, University of Pittsburgh--The Effects of Neighborhood Attributes on Sub-Prime Lending Propensity


Discussants: NGINA CHITEJI, Skidmore College

VANESSA GAIL PERRY, George Washington University



Jan. 5, 8:00 am



Financial Market Failures and the Role of Government (G1)


Presiding:  W. SCOTT FRAME, Federal Reserve Bank of Atlanta


JOHN DUCA, Federal Reserve Bank of Dallas--Risk and the Use of Collateralized Open Market Paper During the Great Depression


KIRSTEN HEPPKE-FALK, Deutsche Bundesbank, and GUNTRAM WOLFF, Deutsche Bundesbank, University of Pittsburgh, and ZEI-University of Bonn--Moral Hazard and Bail-Out in Fiscal Federations: Evidence for the German Lander


MARC HAYFORD and A.G. MALLIARIS, Loyola University-Chicago--Financial Instabilities, Asset Bubbles, and the Role of Central Banks


JAMES WILCOX, University of California-Berkeley, and YUKIHIRO YASUDA, University of California-Berkeley and Tokyo Keizai University--Do Government Loan Guarantees Raise or Lower Non-Guaranteed Lending? The Case of Japanese Banks and Borrowers


Discussants: GARY RICHARDSON, University of California-Irvine

GEORGE KAUFMAN, Loyola University

ANDREW FILARDO, Bank for International Settlements

RAPHAEL BOSTIC, University of Southern California



Jan. 5, 8:00 am



Controlled and Natural Experiments in Behavioral Economics (C9)


Presiding: MARK PRINGLE, University of Nevada-Reno


JAMES HECKMAN, University of Chicago--Controlled and Natural Experiments in Economics


      HERBERT GINTIS, University of Massachusetts-Amherst--Behavioral Game Theory and Human Nature


      MICHELLE BADDELEY, CHRIS BURKE, PHILLIPPE TOBLER, and WOLFRAM SCHULTTZ, Cambridge University--A Behavioral Analysis of Herding Games


SEAN FLYNN, Vassar College, and MICHAEL DONNELLY, Federal Reserve Board--Does Labor Contract Completeness Drive Unionization? Some Experimental Evidence


      NATHAN BERG, University of Texas-Dallas, and WERNER GUTH, Max Planck Institute of Economics--On Logical Inconsistency and Forgiveness


      NATALIA OVCHINNIKOVA, HANS CZAP, St. Lawrence University, GARY LYNNE, University of Nebraska-Lincoln, and CHRIS LARIMER, University of Northern Iowa -- Experiments Related to Care for the Environment



Jan. 5, 8:00 am



Market Work and Time Use


Presiding: CHARLENE KALENKOSKI, Ohio University


HARLEY FRAZIS and JAY STEWART, U.S. Bureau of Labor Statistics--How Much Do People Really Work in the New Economy?


JENNIFER WARD-BATTS, Claremont McKenna College--Household Production and Consumption around Retirement: Evidence from Time-Use Data


      CHARLENE KALENKOSKI, Ohio University, and SABRINA WULFF PABILONIA, U.S. Bureau of Labor Statistics--Does Working While in High School Crowd Out Study Time?


Discussants: YOUNGHWAN SONG, Union College

MICHAEL GIANDREA, U.S. Bureau of Labor Statistics

      ANNE WINKLER, University of Missouri-St.Louis



Jan. 5, 8:00 am



Heterodox Macroeconomics: Crotty's Integration of Keynes, Marx and Institutionalism (E6)


Presiding: JONATHAN GOLDSTEIN, Bowdoin College


      JONATHAN GOLDSTEIN, Bowdoin College--Heterodox Macroeconomics: The Integration of Keynes and Marx


      MARTIN WOLFSON, University of Notre Dame--Methodology and Radical Political Economics: Marx, Keynes, Mitchell and Crotty


      GERALD EPSTEIN, University of Massachusetts-Amherst--Marx, Keynes and Crotty: The Case for Capital Controls Revisited


      MICHAEL HILLARD, University of Southern Maine--Historically Specific, Institutionally Contingent: Labor Movements, Class Struggles and Capitalisms


      ÖZGÜR ORHANGAZI, Roosevelt University - Macroeconomic Fragility in the Age of Financialization?


Discussants: MICHELLE NAPLES, College of New Jersey

      ROBERT POLLIN, University of Massachusetts-Amherst



Jan. 5, 8:00 am



Between Work and Family: Examinations of U.S. Women's Well-being (J1)


Presiding: MARY KING, Portland State University


ELAINE MCCRATE, University of Vermont--Flexibility for Whom? Control Over the Variability of Work Schedules


ELLEN MUTARI and DEBORAH M. FIGART, Richard Stockton College of New Jersey--Between "the House" and Home: Casino Workers' Schedules in a 24/7 Economy?


RANDY ALBEDA, University of Massachusetts-Boston--"My Ends Ain't Meeting": Single Mothers' Earnings and Public Work Suppports in "Post-Welfare" United States


SUSAN WILLIAMS MCELROY, University of Texas-Dallas, and WILLIAM SPRIGGS, Howard University--Testing the Safety Net: Is It Adequate for African American Women?


Discussants: MARY KING, Portland State University

ULLA GRAPARD, Colgate University



Jan. 5, 10:15 am



Determining Food Expenditures and Measuring Poverty; the Work of Mollie

Orshansky (I3)




KENNETH HANSON, DAVID SMALLWOOD, USDA-ERS, ANDI CARLSON, U.S. Department of Agriculture, and PETER BASIOTIS--Household Food Expenditures in relation to the Thrifty Food Plan and Poverty Measurement


MICHELE VER PLOEG, USDA-ERS, and CONSTANCE F. CITRO, National Research Council--Poverty Measurement


PATRICIA RUGGLES, National Research Council--The Politics of Poverty Measurement


Discussant:  CHRISTINE RANNEY, Cornell University   



Jan. 5, 10:15 am



Reforming Economic Institutions of the European Union            


Presiding: TIMOTHY BESLEY, London School of Economics    


RICHARD BALDWIN, Graduate Institute of International Studies, Geneva--Reform of EU Economic Decision Making Arrangements


ERIK BERGLOF, European Bank for Reconstruction and Development--Reform of EU Institutional Arrangements


FRANCESCO GIAVAZZI, Bocconi University and Massachusetts Institute of Technology--Title to be announced.                        


Discussant: MARTIN FELDSTEIN, Harvard University   



Jan. 5, 10:15 am



Better Living through Economics: IV


Presiding: JOHN SIEGFRIED, Vanderbilt University


TOM TIETENBERG, Colby College--Tradable Emissions Rights


ROBERT MOFFITT, Johns Hopkins University--The Earned Income Tax Credit


REBECCA BLANK, University of Michigan--Welfare to Work Reform


Discussants:  WALLACE OATES, University of Maryland

JOSEPH HOTZ, Duke University

NANCY FOLBRE, University of Massachusetts



Jan. 5, 10:15 am



Gender Differences in Careers, Education, and Games


Presiding: ROLAND G. FRYER, JR., Harvard University


CLAUDIA GOLDIN and LAWRENCE KATZ, Harvard University--Transitions: Career and Family Life Cycles of the Educational Elite


ROLAND G. FRYER, JR., Harvard University, and STEVEN LEVITT, University of Chicago--Understanding the Gender Gap in the First 6 Years of School


STEFFEN ANDERSEN, Copenhagen Business School, ERWIN BULTE, Wageningen Unviersity, URI GNEEZY, University of California-San Diego, and JOHN A. LIST, University of Chicago--The Economics of Matrilineal Societies:  Comparing Men and Women in Simple Economic Games


Discussants: FRANCINE BLAU, Cornell University

JANET CURRIE, Columbia University

CHARLES HOLT, University of Virginia



Jan. 5, 10:15 am



The Economics of Noncognitive Skills (J2)


Presiding: JAMES HECKMAN, University of Chicago


JAMES HECKMAN, PAUL LAFONTAINE, and SERGIO URZUA, University of Chicago--The Effects of Cognitive and Noncognitive Abilities on Adolescent Schooling Behavior


CATHERINE WEINBERGER, University of California--Quantifying the Growing Importance of "Soft Skills" in the Labor Market


LEX BORGHANS and BART GOLSTEYN, ROA, Maastricht University--Time Preference over the Life Cycle


ANGELA DUCKWORTH, University of Pennsylvania, CHRISTOPHER PETERSON, University of Michigan, MICHAEL MATTHEWS, and DENNIS KELLY, U.S. Military Academy--Perseverance and Passion for Long-Term Goals


Discussant: JAMES HECKMAN, University of Chicago



Jan. 5, 10:15 am



Lifecycle Investing


Presiding: JOSHUA RAUH, University of Chicago


ZVI BODIE, DORIANA RUFFINO, and JONATHAN TREUSSARD, Boston University--Life Cycle Investing: Beyond Modern Portfolio Theory to Modern Investment Technology


FRANCISCO GOMES, London Business School, LAURENCE KOTLIKOFF, Boston University, and LUIS VICEIRA, Harvard Business School--Optimal Portfolio Choice with Variable Labor Supply


JEFFREY BROWN, University of Illinois-Urbana-Champaign, JEFFREY KLING, Brookings Institution, and SENDHIL MULLAINATHAN, Harvard University--New Strategies for Promoting Annuitization


Discussants: JOSHUA RAUH, University of Chicago

JAMES POTERBA, Massachusetts Institute of Technology




Jan. 5, 10:15 am



The Economics of South Africa since the End of Apartheid (O0)


Presiding: JAMES LEVINSOHN, University of Michigan


DANI RODRIK, Harvard University--Understanding South Africa's Economic Puzzles


JEFFREY FRANKEL, Harvard University, BEN SMITH, Stellenbosch University, and FEDERICO STURZENNEGER, Harvard University--South Africa: Macroeconomic Challenges after a Decade of Success


ABHIJIT BANERJEE, Massachusetts Institute of Technology, SEBASTIAN GALIANI, Washington University in St Louis, JAMES LEVINSOHN, University of Michigan, and INGRID WOOLARD, University of Cape Town--Why Has Unemployment Risen in the New South Africa


Discussants: RICARDO HAUSMAN, Harvard University



Jan. 5, 10:15 am



The Economic Impacts of the Media (I0)


Presiding: EDWARD GLAESER, Harvard University


GORDON DAHL, University of California-San Diego, and STEFANO DELLAVIGNA, University of California-Berkeley--Does Movie Violence Increase Violent Crime?


MATTHEW GENTZKOW and JESSE SHAPIRO, University of Chicago--Does Television Rot Your Brain? New Evidence from the Coleman Study


ROBERT JENSEN, Harvard University, and EMILY OSTER, University of Chicago--The Power of TV: Cable Television and Gender Attitudes in India


BENJAMIN OLKEN, Harvard University--Do Television and Radio Destroy Social Capital? Evidence from Indonesian Villages


Discussants: BRUCE SACERDOTE, Dartmouth College

EDWARD GLAESER, Harvard University

NANCY QIAN, Brown University

MATTHEW KAHN, Tufts University



Jan. 5, 10:15 am



Offshoring and the Labor Market (F2)


Presiding: POL ANTRAS, Harvard University


BILGEHAN KARABAY, Central Bank of Turkey, and JOHN MCLAREN, University of Virginia--Trade, Outsourcing, and the Invisible Handshake


CARL DAVIDSON, STEVEN MATUSZ, and ANDREI SHEVCHENKO, Michigan State University--Outsourcing Peter to Pay Paul: High Skill Expectations and Low-Skill Wages with Imperfect Labor Markets


ANDRES RODRIGUEZ-CLARE, Pennsylvania State University--Offshoring in a Ricardian World


DEVASHISH MITRA, Syracuse University, and PRIYA RANJAN, University of California-Irvine--Offshoring and Unemployment


Discussants: ARNAUD COSTINOT, University of California-San Diego

GENE GROSSMAN, Princeton University

ALAN DEARDORFF, University of Michigan

POL ANTRAS, Harvard University



Jan. 5, 10:15 am



The Micro-Level Consequences of Political Violence and Civil War (O1)


Presiding: CHRISTOPHER BLATTMAN, Yale University & Center for Global Development


EDWARD MIGUEL and JOHN BELLOWS, University of California-Berkeley--War and Local Collective Action in Sierra Leone


LAKSHMI  IYER, Harvard Business School, and QUY-TOAN DO, World Bank--Income and Mental Health in Post-Conflict Bosnia


STERGIOS SKAPERDAS, University of California-Irvine, JOSE LUIS EVIA, Catholic University of Bolivia, and ROBERTO LASERNA, CERES--Socio-Political Conflict and Economic Performance in Bolivia


CHRISTOPHER BLATTMAN, Yale University & Center for Global Development--From Violence to Voting: War and Political Development in Uganda


Discussant: ADRIANA LLERAS MUNEY, Princeton University



Jan. 5, 10:15 am



Time Allocation and Household Production: Macro and Micro Approaches (J2)


Presiding: MICHELE TERTILT, Stanford University


MARK AGUIAR, University of Rochester, ERIK HURST, University of Chicago--The Allocation of a Lifetime


JONI HERSCH, Vanderbilt University Law School--Home Production, Occupation, and the Gender Pay Disparity


ROBERT A. POLLAK, Washington University--Allocating Time


GAREY RAMEY and VALERIE RAMEY, University of California-San Diego--The Rugrat Race


Discussants: ROBERT HALL, Stanford University

DANIEL HAMERMESH, University of Texas-Austin

ERIK HURST, University of Chicago

RANDALL WRIGHT, University of Pennsylvania



Jan. 5, 10:15 am



Information Use in Economic Choice: Eye Tracking Studies (D6)


Presiding: COLIN CAMERER, Caltech


MIGUEL COSTA-GOMES, University of York, and VINCE CRAWFORD, University of California-San Diego--Studying Cognition via Information Search in Two-Person Guessing Game Experiments


IAN KARJBICH, Caltech, CARRIE ARMEL, Stanford University, and ANTONIO RANGEL, Caltech--The Role of Visual Attention in Simple Economic Choice: Theory and Eye Tracking Experiments


COLIN CAMERER, JOSEPH TAO-YI WANG , Caltech and CHRISTOPHER TREPEL, University of California-Los Angeles--Studying Learning in Games Using Eye-Tracking


ROSEMARIE NAGEL, ELENA REUTSKAJA, Universitat Pompeu Fabra, ANTONIO RANGEL, and COLIN CAMERER, Caltech--Choice Overload under the Magnifying Glass of the Eye-Tracker


Discussants: SHACHAR KARIV, University of California-Berkeley

ANDREW CAPLIN, New York University



Jan. 5, 10:15 am



Consumer Payment Choice: Rational or Irrational Behavior? (D1)


Presiding: ANNETTE VISSING-JORGENSEN, Northwestern University


VICTOR STANGO  and JONATHAN ZINMAN, Dartmouth College--Does Mental Accounting Actually Matter for Spending Control? Field Evidence from Payment and Portfolio Choices


SUMIT AGARWAL, Federal Reserve Bank of Chicago, SOUPHALA CHOMSISENGPHET, U.S. Office of the Comptroller of the Currency, and CHUNLIN LIU, University of Nevada, and NICHOLAS SOULELES, University of Pennsylvania--Do Consumers Choose the Right Credit Contracts?


SUMIT AGARWAL, Federal Reserve Bank of Chicago, JOHN DRISCOLL, Federal Reserve Board, XAVIER GABAIX, Massachusetts Institute of Technology, and DAVID LAIBSON, Harvard University--Stimulus and Response: The Path from Naïveté to Sophistication in the Credit Card Market


SCOTT SCHUH and JOANNA STAVINS, Federal Reserve Bank of Boston--Why Are (Some) Consumers (Finally) Writing Fewer Checks: The Role of Payment Characteristics


Discussants: JAMES CHOI, Yale University

      CHRIS CARROLL, Johns Hopkins University

      DEVIN POPE, University of Pennsylvania



Jan. 5, 10:15 am



Innovations and Insights from the New Immigrant Survey (J6)




RICHARD FREEMAN, Harvard University and NBER--How Much Do Immigrants Gain in the Labor Market from Immigrating?


MARK ROSENZWEIG, Yale University--Higher Education and International Migration: Brain Circulation


JOSEPH ALTONJI, Yale University and NBER, and MARK ROSENZWEIG, Yale University--The Determinants of the Wages and Occupations of Immigrants in the Home Country and the U.S.


RANDALL AKEE, IZA, DAVID JAEGER, College of William and Mary, University of Bonn and IZA, KONSTANTINOS TATSIRAMOS, IZA--The Persistence of Self-Employment across Borders: New Evidence on Legal Immigrants to the U.S.


Discussants: MAGNUS LOFSTROM, Public Policy Institute of California

RACHEL FRIEDBERG, Brown University

DAVID JAEGER, College of William and Mary

MICHAEL CLEMENS, Center for Global Development



Jan. 5, 10:15 am



Emerging Market Financial Structures


Presiding: OLIVIER JEANNE, International Monetary Fund


ANTON KORINEK, Columbia University--Excessive Dollar Borrowing in Emerging Markets: Balance Sheet Effects and Macroeconomic Externalities


RAOUL MINETTI, Michigan State University, and LEO FERRARIS, Universidad Carlos III--Creditors' Skills and the Long-Run Impact of Financial Liberalization


JANA GRITTERSOVA, Cornell University--Banks and the Currency Game: The Political Economy of Exchange Rate Regime Choices in Transition Economies


Discussants:   MARCOS CHAMON, International Monetary Fund



Jan. 5, 10:15 am



Institutions and Economic Growth in the Very Long Run


Presiding: JOACHIM VOTH, Universitat Pompeu Fabra


ARUSHA COORAY, University of Tasmania--Economic Growth and the Size and Quality of the Government


CHRIS STEFANADIS, University of Arizona--Appropriation, Property Rights Institutions, and Openness to International Trade


MIRIAM BRUHN, Massachusetts Institute of Technology, and FRANCISCO GALLEGO, Catholic University of Chile--Good, Bad, and Ugly Colonial Activities: Studying Development across the Americas


Discussants: JAMES ROBINSON, Harvard University

STANLEY ENGERMAN, University of Rochester



Jan. 5, 10:15 am



Pricing, Competition and Innovation in the Pharmaceutical Industry


Presiding: SARA ELLISON, Massachusetts Institute of Technology


JIE CHEN and JOHN RIZZO, State University of New York-Stony Brook--Entry Pricing and Product Quality: Evidence from the Pharmaceutical Industry


KADIR CIVAN, Fatih University, and MICHAEL MALONEY, Clemson University--Drug Prices and Drug Development


STUART GRAHAM and  MATTHEW HIGGINS, Georgia Institute of Technology-- Managing the Pace of New Product Introductions in the Pharmaceutical Industry


YUTIAN CHEN and WEI TAN, State University of New York-Stony Brook--Predatory Advertising: Theory and Evidence in the Pharmaceutical Industry


Discussants:  FIONA SCOTT-MORTON, Yale University

      SARA ELLISON, Massachusetts Institute of Technology

      ERNST BERNDT, Massachusetts Institute of Technology

      IAIN COCKBURN, Boston University



Jan. 5, 10:15 am



Technology Transfers (O3)


Presiding: ANTONIO SPILIMBERGO, International Monetary Fund


DARON ACEMOGLU and AMY FINKELSTEIN, Massachusetts Institute of Technology--Input and Technology Choices in Regulated Industries: Evidence from the Health Care



CHRIS PAPAGEORGIOU and ANTONIO SPILIMBERGO, International Monetary Fund--Is Learning Abroad Necessary for Technology Adoption and Development?


DIEGO COMIN, WILLIAM EASTERLY, New York University, and ERICK GONG, University of California-Berkeley--Was the Wealth of Nations Determined in 1000 B.C.?


AAMIR HASHMI, University of Toronto and National University of Singapore--Human Capital, Institutions and Technology Adoption: A Cross-Country Analysis


Discussants: RICHARD ROGERSON, Arizona State University

JAMES FEYRER, Dartmouth College

SIMON JOHNSON, Massachusetts Institute of Technology



Jan. 5, 10:15 am



Saving and Investment Decisions:  How Do Women Fare?


Presiding: OLIVIA MITCHELL, University of Pennsylvania


ANNAMARIA LUSARDI, Dartmouth College, and OLIVIA MITCHELL, University of Pennsylvania--Planning and Financial Literacy:  How Do Women Fare?


JULIE AGNEW, LISA ANDERSON, JEFFREY GERLACH, and LISA SZYKMAN, College of William and Mary--Who Chooses Annuities?  An Experimental Investigation of the Role of Sex, Information Bias and Financial Literacy


NAVA ASHRAF, Harvard Business School, DEAN KARLAN, Yale University, and WESLEY YIN, University of Chicago--Female Empowerment:  Impact of a Commitment Savings Product in the Philippines


VICKIE BAJTELSMIT and NANCY JIANAKOPLOS, Colorado State University--Are Self-Employed Women More Financially Savvy?


Discussants: SILVIA ARDAGNA, Harvard University

PASCALINE DUPAS, Dartmouth College

OLIVIA MITCHELL, University of Pennsylvania

ENRICHETTA RAVINA, New York University



Jan. 5, 10:15 am



K-12 Economic and Financial Literacy Education


Presiding: RICHARD MACDONALD, National Council on Economic Education


PAUL W. GRIMES, MEGHAN J. MILLEA, and KATHLEEN THOMAS, Mississippi State University--District Level Mandates and High School Students' Understanding of Economics


CYNTHIA HARTER and JOHN HARTER, Eastern Kentucky University--Is Financial Literacy Improved by Participating in a Stock Market Game? Preliminary Results


HELEN ROBERTS, University of Illinois-Chicago--Measuring the Effects of the Financial Fitness for Kids Program for Early Elementary School Students in Chicago


      ROGER B. BUTTERS, Nebraska Council on Economic Education, University of Nebraska-Lincoln, and TAMMIE FISCHER, University of Nebraska-Lincoln--Establishing State Specific Benchmarks in Economic Education


Discussants: JANE LOPUS, California State University-East Bay

      GEORGE VREDEVELD, University of Cincinnati

      JAMES O'NEILL, Delaware Council on Economic Education, University of Delaware

      WILLIAM BOSSHARDT, Florida Atlantic University



Jan. 5: 10:15 am



Andrew Brimmer Policy Forum: Public Policy and the Reconstruction of the

Hurricane-Ravaged Gulf Coast (R1)


Presiding: ANDREW F. BRIMMER, Brimmer & Company and University of Massachusetts-Amherst


JAMES H. CARR, National Community Reinvestment Coalition--Housing Quadrangle Challenges: Planning, Demand, Supply, and Financing


BENJAMIN SPRINGGATE, University of California-Los Angeles and Tulane University, and CHARLES E. ALLEN, Tulane-Xavier Center for Bioenvironmental Research--Public Policies for Health Sector Recovery in Post-Katrina New Orleans


JOHN EDWARDS and STEFANO BARBIERI, Tulane University--Katrina, Public Goods, and the Return to New Orleans


MARCELLUS ANDREWS, Barnard College and Center for Economic and Policy Research--Weather, Risks, and Insurance: Challenges of Reconciliation in the Gulf Coast Region


ANDREW F. BRIMMER, Brimmer & Co. and University of Massachusetts-Amherst --Public Policy Strategic Planning for Reconstruction in the Gulf Coast



Jan. 5, 10:15 am



Operation and Reform of the International Monetary System (F3)


Presiding: STANLEY LAWSON, St. John's University


      JAMES W. DEAN, Simon Fraser University and Western Washington University--Paradoxes of Global Finance


      MORDECHAI KREININ, Michigan State University, and MICHAEL PLUMMER, Johns Hopkins University--Global Trade Imbalances: Are They Sustainable? Do They Pose a Threat to Global Stability


      DOMINICK SALVATORE, Fordham University--The International Monetary System: Past, Present and Future


      DOUGLAS WALKER, Regent University--Steps Toward Fundamental Reforms of the International Monetary System


Discussants: SARA GORDON, St. John's University

      PELLEGRINO MANFRA, City University of New York



Jan. 5, 10:15 am



Household Finance

Presiding: MARKUS BRUNNERMEIER, Princeton University


LAURENT E. CALVET, HEC Paris, JOHN Y. CAMPBELL, Harvard University, and PAOLO SODINI, Stockholm School of Economics--Fight or Flight? Portfolio Rebalancing by Individual Investors


MARKKU KAUSTIA and SAMULI KNÜPFER, Helsinki School of Economics--Do Investors Learn from Personal Experience? Evidence from IPO Subscriptions


JUHANI LINNAINMAA, University of Chicago--Learning from Experience: Individual Investors and Parameter Uncertainty About the Profitability of High-Frequency Trading


Discussants: STEFAN NAGEL, Stanford University
MOTOHIRO YOGO, University of Pennsylvania
TOBIAS ADRIAN, Federal Reserve Banks



Jan. 5, 10:15 am



Stock Returns and the Economy

Presiding: RAVI JAGANNATHAN, Northwestern University


ROBERT F. ENGLE, New York University, ERIC GHYSELS, and BUMJEAN SOHN, University of North Carolina-Chapel Hill--On the Economic Sources of Stock Market Volatility


TIM BOLLERSLEV, Duke University, and HAO ZHOU, Federal Reserve Board--Expected Stock Returns and Variance Risk Premia


SAM JAMES HENKEL, Indiana University-Bloomington, J. SPENCER MARTIN, Carnegie Mellon University, and FEDERICO NARDARI, Arizona State University--On the Emergence and Submergence of Stock Return Predictability


ELROY DIMSON, PAUL MARSH, and MIKE STAUNTON, London Business School--The Worldwide Equity Premium: A Smaller Puzzle


Discussants: CHRISTOPHER JONES, University of Southern California
RAVI BANSAL, Duke University
ROSSEN VALKANOV, University of California-San Diego
STEPHEN BROWN, New York University



Jan. 5, 10:15 am



CEO Pay: Design, Incentives and Outcomes


Presiding: STEVEN KAPLAN, University of Chicago


MICHAEL W. FAULKENDER, Washington University-St. Louis, and JUN YANG, Indiana University Bloomington--Inside the Black Box: The Role and Composition of Compensation Peer Groups


J. CARR BETTIS, Arizona State University, JOHN M. BIZJAK, Portland State University, JEFFREY L. COLES, Arizona State University, and SWAMINATHAN L. KALPATHY, Washington State University--Equity Grants with Performance-Based Vesting Conditions


ANTONIO FALATO, Government of the United States of America--Superstars or Superlemons? Top Executive Pay and Corporate Acquisitions


Discussants: AUGUSTIN LANDIER, New York University
DAVID YERMACK, New York University
BENGT HOLMSTRÖM, Massachusetts Institute of Technology



Jan. 5, 10:15 am



Politics and Firms

Presiding: MARIANNE BERTRAND, University of Chicago


MARA FACCIO, Purdue University, and DAVID C. PARSLEY, Vanderbilt University--Sudden Deaths: Taking Stock of Geographic Ties


ALEXANDER W. BUTLER, University of Texas-Dallas, LARRY FAUVER, University of Miami, and SANDRA MORTAL, University of Missouri-Columbia--Corruption, Political Connections, and Municipal Finance


STIJN CLAESSENS, International Monetary Fund, ERIK H.B. FEIJEN, and LUC A. LAEVEN, World Bank--Political Connections and Preferential Access to Finance: The Role of Campaign Contributions


Discussants: RAYMOND FISMAN, Columbia University
ATIF MIAN, University of Chicago



Jan. 5, 10:15 am





Presiding: FRANCESCA CORNELLI, London Business School


WENDY YUNCHUN HU and JAY R. RITTER, University of Florida--Multiple Bookrunners in IPOs


UGUR CELIKYURT, MERIH SEVILIR, and ANIL SHIVDASANI, University of North Carolina-Chapel Hill--Going Public to Acquire: The Acquisition Motive for IPOs


RONALD W. MASULIS, Vanderbilt University, C.N.V. KRISHNAN, and AJAI K. SINGH, Case Western Reserve University--Does Venture Capital Reputation Matter? Evidence from Subsequent IPO Issuer Performance


AMIT BUBNA, Indian School of Business, and NAGPURNANAND R. PRABHALA, University of Maryland--When Bookbuilding Meets IPOs


Discussants: GERARD HOBERG, University of Maryland
HENRI SERVAES, London Business School
LAURA LINDSEY, Arizona State University
DAVID GOLDREICH, University of Toronto



Jan. 5, 10:15 am



Topics in Housing Economics  (R3)


Presiding: AMY S. BOGDON, Federal Housing Finance Board


CHARLES KA YUI LEUNG and PATRICK CHEUNG, City University of Hong Kong--Do Relationships Change After a Crisis? The Case of a Housing Market


DONALD R. HAURIN, Ohio State University, and DAVID M. BRASINGTON, Louisiana State University--Parents, Peers, or School Inputs: Which Components of School Outcomes Are Capitalized into House Value?


GEOFFREY K. TURNBULL, Georgia State University, and VELMA ZAHIROVIC-HERBERT, University of Georgia--Public School Reform in Baton Rouge: What Signals Quality to Homebuyers?


LYNN M. FISHER, Massachusetts Institute of Technology--The Selection of Developer Permit Applications for Litigation: Asymmetric Information and Entitlements


Discussants: BO ZHAO, Federal Reserve Bank of Boston
AMY ELLEN SCHWARTZ, New York University
RICHARD MARTIN, University of Georgia
JENNY SCHUETZ, New York University



Jan. 5, 10:15 am



Homeownership (R2)


Presiding: SUSAN M. WACHTER, University of Pennsylvania


EDWARD COULSON, Pennsylvania State University, and MAURICE DALTON, Tufts University--Ethnic Homeownership Gaps: The Role of Age and Time


TODD SINAI, University of Pennsylvania--Homeownership as a Way to Hedge Mobility Risk


ABDUL MUNASIB, Oklahoma State University, and JEFFREY JACOB, Bethel University--Tenure Choice Implications of Social Networks


SHANE M. SHERLUND and BRIAN K. BUCKS, Federal Reserve Board--Trends in Homeownership


Discussants:  SUSAN M. WACHTER, University of Pennsylvania
JAN BRUECKNER, University of California-Irvine
RAPHAEL BOSTIC, University of Southern California



Jan. 5, 10:15 am



Real Estate Price Indexes (R3)


Presiding: HENRY J. MUNNEKE, University of Georgia


PAUL CARRILLO, George Washington University, DIRK W. EARLY, Southwestern University, and EDGAR OLSEN, University of Virginia--A New Geographical Housing Price Index for All Areas in the United States


R. KELLEY PACE, Louisiana State University, and JAMES P. LESAGE, Texas State University-San Marcos--Interpreting Spatial Econometric Models


MICHIO NAOI, MIKI SEKO, Keio University, and KAZUTO SUMITA, Kanazawa Seiryo University--Regional Life Quality Differences in Japan: Analysis of Housing and Labor Markets with Earthquake Risks


LIANG PENG, University of Colorado-Boulder--Repeat Sales Regression on Heterogeneous Properties


Discussants:  RICHARD GREEN, George Washington University
HAIBO HUANG, Property & Portfolio Research, Inc.
GEOFFREY K. TURNBULL, Georgia State University

      JOHN CLAPP, University of Connecticut



Jan. 5, 10:15 am



Price Levels and Inflation in Developed and Emerging Market Economies (E3)


Presiding: JAEWOO LEE, International Monetary Fund


      VAHAGN GALSTYAN and PHILIP LANE, Trinity College, University of Dublin--International Trade and International Relative Prices


      MICHAEL EHRMANN, European Central Bank--Rational Inattention, Inflation Developments and Perceptions After the Euro Cash Changeover


      IIKKA KORHONEN and AARON MEHROTRA, Bank of Finland--Money Demand in Post-Crisis Russia: De-dollarisation and Re-monetisation


      BALAZS EGERT, OECD--Real Convergence, Price Level Convergence and Inflation Differentials in Europe



      MICHAEL EHRMANN, European Central Bank

      IIKKA KORHONEN, Bank of Finland

      PHILIP LANE, Trinity College, University of Dublin



Jan. 5, 10:15 am



Financial Institutions, Poverty, and Income Distribution (D3)


Presiding: PHILIP ARESTIS, University of Cambridge


WILLIAM MILBERG, New School for Social Research--Finance and Income Distribution in Global Production Networks
PHILIP ARESTIS, University of Cambridge, and ASENA CANER, TOBB-Economics and Technology University, Turkey--Capital Account Liberalization and Poverty

AJIT SINGH, University of Cambridge--Stock Markets and Income Distribution

HOWARD STEIN, University of Michigan--Financial Liberalization, Institutional Transformation and Credit Allocation in Developing Countries

GARY DYMSKI, University of California-Sacramento--Sub-Prime Lending, Private-Equity Funds, and Wealth Ratchet Effects: Financial Crises at Micro, Macro, and Global Scales


Discussant:  DEAN BAKER, Center for Economic and Policy Research

Jan. 5, 10:15 am



Economic Rights, Poverty, and Inequality (I3)


Presiding:  LANSE MINKLER, University of Connecticut


LANSE MINKLER, University of Connecticut--Some Economics of Economic Rights


LOUIS DE MESNARD, University of Burgundy--Poverty Reduction: The Paradox of the Endogenous Poverty Line


SOURUSHE ZANDVAKILI, University of Cincinnati--Advances in Measurement of Inequality and Role of Statistical Inference


OGUZHAN C. DINCER, Illinois State University, and BURAK GUNALP, Hacettepe University--Corruption, Inequality, and Poverty in the United States


Discussant:  WILFRED DOLFSMA, University of Groningen



Jan. 5, 10:15 am



Aging, Disability, and Long-Term Care Policy (I1)


Presiding: THEODORE TSUKAHARA, JR., Saint Mary's College of California


R. TAMARA KONETZKA, ELMER ABBO, and ROBERT ELLIS, University of Chicago--Nursing Home Litigation and Quality of Care


LILIANA E. PEZZIN, Medical College of Wisconsin, JUDITH KASPER, Johns Hopkins University, and J. BRADFORD RICE, Boston University--A Dynamic Model of Policy and Health Effects on Living Arrangement Transitions of Elderly Persons


ALBERTO HOLLY, THOMAS M. LUFKIN, University of Lausanne, EDWARD C. NORTON, University of North Carolina-Chapel Hill, and COURTNEY HAROLD VAN HOUTVEN, Duke University--Informal Care and Medical Care Utilization in Europe and the United States


Discussants: FRANCES WEAVER, Pennsylvania State University and Swiss Health Observatory

      LOIS SHAW, Levy Economic Institute

BARBARA SCHONE, Agency for Healthcare Research and Quality, U.S. Department of Health and Human Services, and Georgetown University



Jan. 5, 10:15 am



The Cuban Economy


Presiding: CARLOS SEIGLIE, Rutgers University-Newark


ROGER BETANCOURT, University of Maryland-College Park--Human Rights and Economic Growth: Implications for a Cuban Transition


RODOLFO GONZALEZ, California State University-San Jose, and LUIS LOCAY, University of Miami--The Impact of the Revolution on Cuba's Health and Education Indices


      NICOLAS SANCHEZ, College of the Holy Cross--Cuban Transitions and U.S. Interests: When Would the Benefits Converge?


Discussants: JOHN DEVEREUX, Queens College

ARTHUR DIAMOND, University of Nebraska-Omaha



Jan. 5, 10:15 am



Resource Management, Uncertainty, and Institutions (Q2)


Presiding: WOLFRAM SCHLENKER, Columbia University


NICHOLAS BROZOVIC, University of Illinois-Urbana-Champaign, and WOLFRAM SCHLENKER, Columbia University--Resilience, Uncertainty, and the Role of Economics in Ecosystem Management


JUNJIE ZHANG and MARTIN SMITH, Duke University--Bias Correction in an Empirical Fishery Model: A Two-Stage Approach

SHUBHAYU SAHA, ERIN SILLS, North Carolina State University, SUBHRENDU PATTANAYAK, Research Triangle Institute, and JILL CAVIGLIA-HARRIS, Salisbury University--Impact of Social Capital on Natural Capital: Farmer Associations, Social Interaction and Land Use Choices in the Amazon Frontier


GREGMAR GALINATO, Washington State University--Endogenous Property Rights Regimes, Common Pool Resources and Trade


Discussants: STEVE NEWBOLD, U.S. Environmental Protection Agency

KURT SCHNIER, University of Rhode Island

MAUREEN CROPPER, University of Maryland

MICHAEL MARGOLIS, Universidad de Guanajuato



Jan. 5, 10:15 am



Paired Invited Session: Market Design (D4)


Presiding: JEROEN SWINKELS, Washington University


PAUL MILGROM, Stanford University--Frontiers of Market Design: Auctions


ALVIN E. ROTH, Harvard University--Frontiers of Market Design: Matching


Discussant: SUSAN ATHEY, Harvard University



Jan. 5, 10:15 am



Paired Invited Session: Subsampling Methods in Econometrics  (C0)


Presiding: SERENA NG, University of Michigan


JOSEPH ROMANO, Stanford University--Subsampling Methodology


DONALD ANDREWS, Yale Universit--Subsampling Methods in Econometrics


Discussant: JOEL HOROWITZ, Northwestern University



Jan. 5, 10:15 am



Private Health Insurance Markets


Presiding: LEEMORE S. DAFNY, Northwestern University


      LEEMORE S. DAFNY, Northwestern University--Are Health Insurance Markets Competitive?  A Test of Direct Price Discrimination


      PHILIP F. COOPER, Agency for Healthcare Research and Quality, KOSALI ILAYPERUMA SIMON, Cornell University, and GINGER Z. JIN, University of Maryland--Impact of State Regulations on Self-Insurance of Health Benefits, 1997-2004


      JAY BHATTACHARYA, Stanford University, and WILLIAM B. VOGT, Carnegie Mellon University--Employment and Adverse Selection in Health Insurance


Discussants: AMITABH CHANDRA, Harvard University

      MICHAEL CHERNEW, Harvard University

      MARTIN GAYNOR, Carnegie Mellon University



Jan. 5, 10:15 am



Thorstein Veblen at 150:  Rethinking a Survivor (B1)


Presiding:  ANNE MAYHEW, University of Tennessee


MATTHEW WILSON, University of Denver--Veblen on Veblen:  Social Critic, Evolutionary Scientist, or Both?


ROBERT PRASCH, Middlebury College--Thorstein Veblen's Theory of Consumption


ERIC HAKE, Eastern Illinois University--Thorstein Veblen's Theory of Business Enterprise, Business Cycles, and Industrial Organization


Discussants:  MALCOLM RUTHERFORD, University of Victoria

JANET KNOEDLER, Bucknell University



Jan. 5, 10:15 am



Organization and Performance  (L2)


Presiding: CHRISTOPHER SNYDER, Dartmouth College


SILKE JANUSZEWSKI FORBES, University of California San Diego, and MARA LEDERMAN, University of Toronto--The Performance Implications of Vertical Integration: Evidence from Regional Airlines


RENATA KOSOVA, Cornell University, FRANCINE LAFONTAINE, University of Michigan, and ROZENN PERRIGOT, Université de Rennes I--Organizational Form and Performance: Evidence from the Hotel Industry


ALI HORTACSU and CHAD SYVERSON, University of Chicago--Vertical Integration and Production: Some Plant-Level Evidence


Discussants: LUIS GARICANO, University of Chicago





Jan. 5, 10:15 am



Corporate Finance and Banking Issues of Korea (G3)


Presiding: KEE-HONG BAE, Queen's University


JUNG YONG CHOI, DONG WOOK LEE, and KYUNG-SUH PARK, Korea University --Corporate Governance and Firm Value: Endogeneity-Free Evidence from Korea


JUN-KOO KANG, Michigan State University, INMOO LEE, National University of Singapore and HYUN-SEUNG NA, University of California-Riverside--Economic Shock, Owner-Manager Incentives, and Corporate Restructuring: Evidence from the Financial Crisis in Korea


JOO HA NAM, Sogang University, and KY-HYANG YUHN, Florida Atlantic University--Determinants of Investment by Large Business Groups: A Test of the Hoshi-Kashap-Scharfstein Proposition for the Korean Chaebol


WOOK SOHN, KDI School of Public Policy and Management--Banking Relationships and Conflicts of Interest: Evidence from the Korean Bank Reform


Discussants: HOJE JO, Santa Clara University

HEITOR ALMEIDA, University of Illinois-Urbana-Champaign

JONGMOO JAY CHOI, Temple University

SHANE JOHNSON, Texas A&M University



Jan. 5, 10:15 am



Union Organizing and Changing Employment Relations in Globalizing China


Presiding: SAROSH KURUVILLA, Cornell University


      MINGWEI LIU, Cornell University--Grassroots Union Organizing in China: A Strategic Perspective


      SUNGHOON KIM, Cornell University--An Investigation of Grassroots Trade Union Approaches of Foreign-Owned Firms in China


XIANGMIN LIU, Cornell University, and FANG XU, Renmin University of China--Temporary Workers in Permanent Jobs: A Study of Non-Standard Work Arrangements among Call Centers in China


RICHARD LOCKE and FEI QIN, Massachusetts Institute of Technology--What Leads to Improvements in Working Conditions in Global Supply Chains: A Study of Chinese Apparel and Footwear Factories


Discussants: BILL TAYLOR, City University of Hong Kong



Jan. 5, 10:15 am



Labor and Community Floor Raising: Revitalizing the American Dream from Below


Presiding: ROBERT BRUNO, University of Illinois-Urbana-Champaign


      NIK THEODORE, University of Illinois-Chicago--Working Your Way Up from the Bottom: Day Labor and Workplace Violations


      ANTHONY GRIFFIN and MAURICE KING, International Brotherhood of Electrical Workers, Local 134--How "Jump-Start" Brought Middle-Class Possibilities to the Urban Poor


      VIRGINIA PARKS, University of Chicago, and DORIAN WARREN, Columbia University --Community Development and the Campaign to Humanize the "Big Box"


Discussant: KIM BOBO, National Interfaith Committee for Worker Justice

      JANICE FINE, Rutgers University



Jan. 5, 10:15 am



First Amendment Issues and Free Speech in the Workplace


Presiding: WILLIAM CANAK, Middle Tennessee State University


      JED MARCUS, Esq., Bressler, Amery & Ross, P.C.


JON ROSEN, Esq., Rosen Law Firm


      BRUCE BARRY, Vanderbilt University


Discussants: ROBERT COVINGTON, Vanderbilt University



Jan. 5, 10:15 am



Recent and Prospective Developments in Monetary Policy Transparency and

Communications: A Global Perspective


Presiding: KEVIN L. KLIESEN, Federal Reserve Bank of St. Louis




DONALD L. KOHN, Federal Reserve Board


LUCAS D. PAPADEMOS, European Central Bank


Discussants: MICHAEL WOODFORD, Columbia University



Jan. 5, 10:15 am



Forensic Economics III--Hedonic Damages -- One More Time (Panel Discussion) (K4)


Presiding: PETER MARKS, Rhode Island College


BRIAN MCDONALD, Economic Consultant--Loss of Enjoyment of Life Damages in New Mexico


TED MILLER, Pacific Institute for Research and Evaluation--Hedonic Damages: Were the Crippling Blows Well-Founded?


W. KIP VISCUSI, Vanderbilt Law School--Why Lives Have Different Values


JOHN O. WARD, University of Missouri-Kansas City--Time Use Valuation as an Alternative to Lost Enjoyment of Life Measures in Calculating Wrongful Death Damages



Jan. 5, 10:15 am



Political Economy of Recovery from Katrina: Comparative Perspectives (D6)


Presiding: WILLIAM SPRIGGS, Howard University


RODNEY GREEN, Howard University, and BEVERLY WRIGHT, Dillard University--The Political Economy of Non-Government versus Government Recovery Intervention in New Orleans in the Wake of Katrina


CHARLES BETSEY, Howard University and MARGARET C. SIMMS, Joint Center for Political and Economic Studies--People and Jobs: Employment Prospects for New Orleans Residents in the Aftermath of Hurricane Katrina


HEIDI HARTMANN and AVIS JONES-DEWEEVER, Institute for Women's Policy Research--In the Eye of the Storm: Examining the Effects of Hurricane Katrina on the Women of New Orleans and the Gulf Coast


HAYDAR KURBAN, GAMINIE MEEPAGALA, and MARY KAY PERKINS, Howard University--Using Recovery Patterns from Hurricane Andrew as a Benchmark for Post-Katrina Reconstruction in New Orleans


Discussants: LANCE FREEMAN, Columbia University

CECILIA CONRAD, Pomona College

JOSEPH PERSKY, University of Illinois-Chicago

GREG PRICE, Jackson State University



Jan. 5, 10:15 am



U.S. Asset Trade with the Rest of the World


Presiding: MONIKA PIAZZESI, University of Chicago


ALESSANDRA FOGLI and FABRIZIO PERRI, University of Minnesota--External Imbalances and Macroeconomic Volatility


ENRIQUE MENDOZA, University of Maryland, VICTOR RIOS-RULL, University of Minnesota, VINCENZO QUADRINI, University of Southern California--Financial Integration, Financial Deepness and Global Imbalances


LEE OHANIAN, University of California-Los Angeles, and MARK WRIGHT, Federal Reserve Bank of Minneapolis--The Efficiency and Mobility of International Capital Flows: 1950-2006


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



Jan. 5, 10:15 am





Presiding: SAMUEL  KORTUM, University of Chicago


RALPH SIEBERT, Purdue University--How Licensing Resolves Hold-up: Evidence from a Dynamic Panel Data Model with Unobserved


KENNETH FLAMM, University of Texas--The Microeconomics of Microprocessor Innovation


UNNIKRISHNAN SADASIVAN PILLAI, University of Chicago--Drivers of Technological Innovation in Computation


      BRETT GORDON, Carnegie Mellon University--A Dynamic Model of Consumer Replacement Cycles in the PC Processor Industry


Discussants: DANIEL  SICHEL, Federal Reserve Board

      PAUL THOMAS, Intel

      ANA AIZCORBE, U.S. Bureau of Economic Analysis

      CAROL ROBBINS, U.S. Bureau of Economic Analysis



Jan. 5, 10:15 am



Issues in Surface Transportation


Presiding: CLETUS C. COUGHLIN, Federal Reserve Bank of St. Louis


JEFFREY P. COHEN, University of Hartford, and KRISTEN MONACO, California State University-Long Beach--Inter-County Spillovers and Ports and Roads Infrastructure Investment


RICHARD ARNOTT, Boston College--The Corridor Problem


RICHARD FOWLES, University of Utah, PETER LOEB, Rutgers University, and WILLIAM CLARKE, Bentley College--The Determinants of Motor Vehicle Fatalities Using Specification Testing and Bayesian Stochastic Search Variable Selection Methods


WAYNE K. TALLEY, Old Dominion University, DI JIN, and HAUKE KITE-POWELL, Woods Hole Oceanographic Institute--Determinants of the Damage Cost and Injury Severity of Ferry Vessel Accidents


Discussants: JASON BARR, Rutgers University

IAN SUE WING, Boston University

MARTIN DRESNER, University of Maryland

WILLIAM CLARKE, Bentley College



Jan. 5, 10:15 am



Alternative Approaches to the Economics of the Elderly (J14)


Presiding: AJIT ZACHARIAS, Levy Economics Institute of Bard College


      TERESA GHILARDUCCI, University of Notre Dame--Guaranteed Retirement Accounts: Towards Retirement Income Security


      SUNHWA LEE, Institute for Women's Policy Research--Race/Ethnicity, Living Arrangements, and Retirement Security Among Older Women


      CHRISTIAN WELLER, Center for American Progress--Navigating the Perfect Storm: How Have Public Sector Pension Plans Handled the Funding Crisis?


      EDWARD N. WOLFF, Levy Economics Institute of Bard College and New York University and AJIT ZACHARIAS, Levy Economics Institute of Bard College--How Well-Off are America's Elderly? A New Perspective


      MICHELLE NAPLES, College of New Jersey, GERALD JOGERST, and JEANETTE DALY, University of Iowa--Elder Abuse: Economic and Feminist Factors


Discussants: AJIT ZACHARIAS, Levy Economics Institute of Bard College

      THOMAS MASTERSON, Levy Economics Institute of Bard College



Jan. 5, 10:15 am



Topics in Heterodox Economics (B2)


Presiding: JAMES DEVINE, Loyola Marymount University


       FREDERIC LEE, University of Missouri-Kansas City--The Emergence of Heterodox Economics in a Contested Landscape, 1990-2006


      MICHAEL PERELMAN, California State University-Chico--The Confiscation of American Prosperity: From Right Wing Extremism and Economic Ideology to the Next Great Depression


      ELLEN RUSSELL, Canadian Centre for Policy Alternatives--Domestic Financial Reform and Bargaining Power: The New Deal Financial Architecture


      IAN MCGREGOR, University of Technology-Sydney--Warming as Usual -- Radical International Political Economy Required to Address Climate Change


      DANIEL SAROS, Valparaiso University--An Application of Social Structure of Accumulation Theory to American Industry During the Progressive Era


Discussants: DAVID KOTZ, University of Massachusetts-Amherst

      GIL SKILLMAN, Wesleyan University



Jan. 5, 12:30 pm



Luncheon Honoring the 2006 Nobel Laureate, Edmund Phelps


Presiding: AVINASH DIXIT, Princeton University


JAMES HECKMAN, University of Chicago

JOSEPH STIGLITZ, Columbia University



Jan. 5, 12:30 pm

AEA/Journal of the European Economic Association




Presiding: XAVIER VIVES, IESE Business School and Pompeu Fabra University


      ALBERTO ALESINA, Harvard University-- Culture, the Family and Taxation



Jan. 5, 12:30 pm



Presidential Luncheon


Presiding: FRANK NOTHAFT, Freddie Mac


      RICHARD K. GREEN, George Washington University



Jan. 5, 12:30 pm



The Future of Comparative Economics: Old, New, or Something Else (Roundtable) (P5)


Presiding: BARKLEY ROSSER, James Madison University


AVNER GREIF, Stanford University

SIMON JOHNSON, Massachusetts Institute of Technology and International Monetary Fund

FREDERIC PRYOR, Swarthmore College

YINGYI QIAN, University of California-Berkeley

GERARD ROLAND, University of California-Berkeley

MARINA ROSSER, James Madison University



Jan. 5, 12:30 pm



Evaluating a Newly-Edited Old-Economics Contribution: John Fagg Foster on Value and Science (B3)


Presiding: WOLFRAM ELSNER, University of Bremen


WILLIAM WALLER, Hobart and William Smith Colleges--The Unreasonable Society: Foster and the Limits of Instrumental Valuation
OLIVIER BRETTE, University Jean Moulin Lyon 3--On Science and Value: John Fagg Foster, reader of Veblen


JAMES STURGEON, University of Missouri-Kansas City--Institutionalist theory of Change and Valuation: the Principles of Institutional Adjustment of J. Fagg Foster


BALDWIN RANSON, retired--Confronting Foster's Wildest Claim: Only the Instrumental Theory of Value Can Be Applied!

Discussant: GLADYS FOSTER, retired


Jan. 5, 12:30 pm



Resource Allocation Within the Household (D1)


Presiding: ELEANOR BROWN, Pomona College 


CECILIA CONRAD, Pomona College and Scripps College, and RAJIV SETHI, Barnard College--Rethinking Economic Models of Domestic Violence


JENNIFER WARD-BATTS, Claremont McKenna College--Can Home Production or Marital Bargaining Explain the Post-Retirement Consumption Puzzle? Evidence from U.K Expenditure Data


CRISTINA ECHEVARRIA, University of Saskatchewan--Taxing the Homemaker


Discussants: MELISSA GONZALEZ-BRENES, University of Massachusetts-Amherst

      MICHAEL KUEHLWEIN, Pomona College

      FRANCES WOOLLEY, Carleton University



Jan. 5, 12:30 pm



Social and Political Aspects of Economic Behavior (B4, B5)


Presiding: TEJ K. KAUL, Western Illinois University


      SURESH DESAI, Montclair State University--Innovation in Gandhian Economics


      VAMAN RAO, Western Illinois University--Changing Configuration of Economic Players on the World Economy


      SANDWIP K. DAS, University of California-Riverside--Transparency in Government Procurement


      RAMJHIM AGGARWAL, Arizona State University--Technological Lock-ins, Poverty and Environmental Degradation


      AMIT BATABYAL, Rochester Institute of Technology, and HAMID BELADI, University of Texas--Bribery and Favoritism in Queuing Models of Rationed Resource Allocation


      NIMAI MEHTA, George Mason University--Inequality as a Norm and in Fact: The Use and Abuse of Indian History from Mill to Sen


      ROBY RAJAN, University of Wisconsin--Differential Linkages in Global Outsourcing


Discussants: SAURAV BATABYAL, University of Wisconsin-Milwaukee

      KUSUM KETKAR, Vanderbilt University

      CHANDANA CHAKRABORTY, Montclair State University

      SUHAS L. KETKAR, Vanderbilt University



Jan. 5, 12:30 pm



Asian Economic and Financial Integration: A Growth Map for the Future (F1)


Presiding:  PING WANG, Washington University-St. Louis


WING THYE WOO, Brookings Institution--Asian Economic Integration: Why and What Form?


YIN-WONG CHEUNG and XING WANG QIAN, University of California-Santa Cruz--Hoarding of International Reserves: Mrs. Machlup's Wardrobe and the Joneses


KAR-YIU WONG, University of Washington--Free Trade Areas and International Rivalry


CHUNG-HUA SHEN, National Chengchi University, and YEA-MOW CHEN, San Francisco State University--Mergers and Acquisitions of Financial Institutions and Asian Financial Market Integration


Discussant: JUANN H. HUNG, Congressional Budget Office

CHI-WA YUEN, University of Hong Kong

CHONG K. YIP, Chinese University of Hong Kong

JACKY YUK-CHOW SO, Texas A&M International University



Jan. 5, 12:30 pm



The Economics of Empire, Slavery, and Segregation


Presiding: WILLIAM COLLINS, Vanderbilt University


LEAH PLATT BOUSTAN, University of California-Los Angeles, and ROBERT MARGO, Boston University--Going Postal: What Black Employment in the Postal Service Reveals About the Increasing Cost of Residential Segregation, 1940-2000


FELIPE TÅMEGA FERNANDES, London School of Economics--The U.S. and British Struggle for Rubber: A Quantitative Approach, 1870-1910


JONATHAN PRITCHETT and KEVIN LANDER, Tulane University--When to Care: The Economic Rationale of Slavery Health Care Provisions


Discussants: WILLIAM COLLINS, Vanderbilt University

      GAVIN WRIGHT, Stanford University

JENNY WAHL, Carleton College



Jan. 5, 12:30 pm



Contributed Papers in Health Economics: Health Plans, Health Insurance,

and Obesity


Presiding: J. MICHAEL FITZMAURICE, Agency for Healthcare Research and Quality


      ANTHONY T. LO SASSO, LORENS HELMCHEN, University of Illinois-Chicago, and WILLARD G. MANNING, University of Chicago--The Effects of CDHP on Utilization and Cost of care


      DIDEM BERNARD, JESSICA BANTHIN, and WILLIAM ENCINOSA, Agency for Healthcare Research and Quality--Wealth, Assets, and the Affordability of Health Insurance


      OLGA YAKUSHEVA, Marquette University--On the Relationship between Income and Body Fat: Thin Bodies and Thin Wallets


Discussants: KATHERINE BAICKER, University of California-Los Angeles

      AL DOBSON, Dobson, Davanso and Associates

      JEANNE WENDEL, University of Nevada-Reno



Jan. 5, 12:30 pm



Feminist Perspectives on Macroeconomics & Development (O1)


Presiding:  YANA RODGERS, Rutgers University


ALISON BUTLER, Willamette University--How Aggregated Do We Need to Be:  Race, Gender, Class and Distribution in a Macroeconomics Classroom


ELISSA BRAUNSTEIN Colorado State University, and GAMZE YASAR, Colorado State University--Gender, Economic Development and Islam: A Cross Country Study


ANNE MIKKOLA, University of Helsinki, and CARRIE A. MILES, George Mason University and Baylor University--Development and Gender Equality: Consequences, Causes, Challenges and Cures


Discussants: JEAN SHACKELFORD, Bucknell University
 JENNIFER OLMSTED, Drew University



Jan. 5, 12:30 pm



Globalization and Trade Policy  (F0)


Presiding: JOHN T. EVANS, Long Island University


MILES MATTSON and DRUSILLA BROWN, Tufts University--Access to Essential Medicine: The Impact of TRIPS


JOSEPH PELZMAN, George Washington University, and AMIR SHOHAN, Ben Gurion Unviersity of the Negev--U.S. Bilateral Regional Agreements:   The Negative Welfare Effects of Multiplicity in Country of Origin Rules


DON P. CLARK, University of Tennessee--Vertical Specialization with Developed and Developing Countries


NANCY H. CHAU, Cornell University, and ROLF FARE, Oregon State University--On Trade Impairment Nullification, Trade Sanctions and the Shadow Price of Imports: A Trade Benefit Function Approach


Discussants: ARNAB K. BASU, College of William and Mary

KATHLEEN REES, Texas A&M University-Kingsville

WENDY TAKACS, University of Maryland-Baltimore County

JUDITH DEAN, U.S. International Trade Commission



Jan. 5, 12:30 pm



Presidential Luncheon and Address


Presiding: ANTHONY T. OLIVER, Parker, Milliken, Clark, O'Hara and Samuelian


      EILEEN B. HOFFMAN, Federal Mediation & Conciliation Service



Jan. 5, 12:30 pm



Youth Employment Issues in the MENA Region (J4)


Presiding:  TARIK YOUSEF, Dubai School of Government and Brookings Institution


RAGUI ASSAAD and GHADA BARSOU, Population Council Regional Office for West Asia and North Africa--Youth Exclusion in Egypt: Trends and Policies


DJAVAD SALEHI-ISFAHANI, Virginia Polytechnic University, and DANIEL EGEL, University of California-Berkeley--Demographic Shocks and Youth Transitions in Iran: Trends, Policies, and Challenges


NADER KABBANI, Syria Trust for Development, and NOURA KAMEL, American University of Beirut--Social-Economic Exclusion and Youth Employment Outcomes in Syria


BRAHIM BOUDARBAT, Université de Montréal--Youth Employment in Morocco


Discussants: KENNETH WILSON, Zayed University

JEHAD YASIN, Fort Valley State University

ALPAY FILIZTEKIN, Sabanci University

JAY SQUALLI, Zayed University



Jan. 5, 12:30 pm



Opportunities and Obstacles to Southern African Development (O1)


Presiding: ROMIE TRIBBLE, JR., Spelman College


ROMIE TRIBBLE, JR., Spelman College--The Openness Hypothesis and the South African Economy


GLENWOOD ROSS, Morehouse College--Foreign Direct Investment to Post Apartheid South Africa: Determinants, Trends and Prospects


RADHA BHATTACHARYA, California State University-Fullerton--Empirical Analysis of Economic Growth in South Africa: From Apartheid to AIDS


MARIONNETTE HOLMES, Spelman College--The Cost Effectiveness of HAART on HIV and AIDS in Botswana


MONA RAY, Morehouse College--The Crowding-Out Effect of HIV-AIDS on BEE in South Africa


Discussants: JULIET ELU, Spelman College

ELIZABETH ASIEDU, University of Kansas

MESFIN BEZUNAH, Clark-Atlanta University

ALVIN HEADEN, North Carolina State University

AMATA DIABATE, Spelman College



Jan. 5, 12:30 pm



Measuring Income and Taxation


Presiding: ROSEMARY MARCUS, U.S. Bureau of Economic Analysis


ROBERT BROWN, U.S. Bureau of Economic Analysis--The Feasibility of Producing Personal Income to Adjusted Gross Income (PI-AGI) Reconciliations by State


MARK LEDBETTER, U.S. Bureau of Economic Analysis--An Analytical Framework to Understanding Conceptional Differences between the BEA Measure of Personal Income and the IRS Measure of Adjusted Gross Income


JOHN PELOQUIN and THOMAS F. STINSON, Minnesota Department of Finance--Pointing with a Blunt Stick: Selected Topics in Forecasting Minnesota Income Tax Revenues


      PHIL KING, Canadian Department of Finance--Methodology of Forecasting Canadian Personal Income Tax Revenues with Microsimulation Models and National Account Estimates


Discussants: KIM BLOOMQUIST, Internal Revenue Service

BROOKS ROBINSON, Institute for Triple Helix Innovation

RALPH RECTOR, Heritage Foundation

JOEL PLATT, U.S. Bureau of Economic Analysis



Jan. 5, 2:30 pm



Institutions, Structure, and African Development (O5)


Presiding: EMMANUAL NNADOZIE, UN Economic Commission for Africa (UNECA), Addis Ababa


      JEAN-LOUIS ARCAND, Universite d'Auvergne, and MARCEL FAFCHAMPS, Oxford University--Matching in Rural Producer Organizations


      JOHANNES FEDDERKE and ALEXANDRA WOLLNIK, University of Cape Town--The Spatial Distribution of Manufacturing in South Africa 1970-1996 and Its Determinants


      O.E. INONI, and D.G. OMOTOR, Delta State University, Nigeria--The Effects of Road and Market Infrastructure on Agricultural Output and Income of Rural Households in Delta State,  Nigeria


      MWANGI WA GITHINJI, University of Massachusetts-Amherst--The Political Economy of Ethnicity in Africa: Rewarding Supporters with Jobs in Kenya


      UNA OKONKWO OSILI, Indiana University-Purdue University--Diasporas and Development: Evidence from Africa Migration


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

      KWABENA GYIMAH-BREMPONG, University of South Florida

      RUTH OWAIFO OYELERE, Georgia Institute of Technology

      SYLVAIN BOKO, Wake Forest University

      SHER VERICK, UNECA, Addis Ababa



Jan. 5, 2:30 pm



U.S. Fiscal Institutions: Reforming Tax Expenditures


Presiding: JAMES POTERBA, Massachusetts Institute of Technology


LEN BURMAN and ERIC TODER, Urban Institute--The Growth, Distribution, and Opportunity Cost of Individual Income Tax Expenditures


JAMES POTERBA, Massachusetts Institute of Technology, and TODD SINAI, University of Pennsylvania--Tax Expenditures for Owner-Occupied Housing


GILBERT METCALF, Tufts University--Rethinking Federal Tax Expenditures for Energy


Discussants: ALAN AUERBACH, University of California-Berkeley

EDWARD GLAESER, Harvard University

HILARY SIGMAN, Rutgers University



Jan. 5, 2:30 pm



Better Living through Economics: V


Presiding: JOHN SIEGFRIED, Vanderbilt University


JAMES C. MILLER III, George Mason University, JOHN T. WARNER, Clemson University, and BETH ASCH, Rand Corporation--The Volunteer Military


LAWRENCE WHITE, New York University--The Role of Economics in Antitrust Analysis


DAVID LAIBSON, Harvard University, JOHN BESHEARS, JAMES CHOI, Yale University, and BRIGITTE MADRIAN, Harvard University--Saving for Retirement


Discussants:  WALTER OI, University of Rochester

      KENNETH ELZINGA, University of Virginia

      ROBERT SHILLER, Yale University



Jan. 5, 2:30 pm



Sources of International Price Stickiness


Presiding: CHARLES ENGEL, University of Wisconsin-Madison


PINELOPI K. GOLDBERG, Princeton University, and REBECCA HELLERSTEIN, Federal Reserve Bank of New York--A Microeconomic Approach to Explaining Exchange-Rate Pass-Through


EMI NAKAMURA, Harvard University--Pass-Through in Retail and Wholesale


ARIEL BURSTEIN and CHRISTIAN HELLWIG, University of California-Los Angeles--Inferring Pricing Complementarities from Micro Data


Discussants: CHARLES ENGEL, University of Wisconsin-Madison

AVI NEVO, Northwestern University



Jan. 5, 2:30 pm



Economics of the Minimum Wage (J2)


Presiding: DANIEL AARONSON, Federal Reserve Bank of Chicago


PETER ARCIDIACONO, TOM AHN, Duke University, and WALTER WESSELS, North Carolina State University--The Distributional Impacts of Minimum Wage Increases When Both Labor Supply and Labor Demand are Endogenous


ALAN MANNING and RICHARD DICKENS, London School of Economics--The Minimum Wage and UK Wage Inequality


DAVID NEUMARK, University of California-Irvine, and WILLIAM WASCHER, Federal Reserve Board--Minimum Wages, the Earned Income Tax Credit, and Employment


DANIEL AARONSON, ERIC FRENCH, Federal Reserve Bank of Chicago, and TED TO --The Employment Response to Minimum Wage Hikes: Evidence from Geocoded ES202 Data


Discussants:   CHRISTOPHER FLINN, New York University

HILARY HOYNES, University of California-Davis

DAVID LEE, Princeton University

WILLIAM WASCHER, Federal Reserve Board



Jan. 5, 2:30 pm



The Impact of Hurricanes on Residents and Local Labor Markets (J6)


Presiding: JAMES SULLIVAN, University of Notre Dame


CHRISTINA PAXSON and CECILIA ROUSE, Princeton University--Adversity and Resilience: The Impact of Hurricane Katrina on a Group of Low-Income Parents


JEFFREY GROEN and ANNE POLIVKA, U.S. Bureau of Labor Statistics--The Effect of Hurricance Katrina on the Labor Market Outcomes of Evacuees


ARIEL BELASEN and SOLOMON POLACHEK, State University of New York-Binghamton--How Disasters Affect Local Labor Markets: The Effects of Hurricanes in Florida


MOLLY FIFER MCINTOSH, Princeton University--Measuring the Labor Market Impacts of Hurricane Katrina Migration: Evidence from Houston, Texas


Discussants: SHELDON DANZIGER, University of Michigan

ADRIANA KUGLER, University of Houston

JAMIE KRUSE, East Carolina University

ETHAN LEWIS, Dartmouth College



Jan. 5, 2:30 pm



Growth, Productivity, and Wages in the U.S. Economy (Roundtable) (E6)


Presiding: DOMINICK SALVATORE, Fordham University


WILLIAM BAUMOL, Princeton University and New York University--Impediments to Entrepreneurial Contributions to U.S. Productivity


MARTIN FELDSTEIN, Harvard University--Did Wages Reflect Gains in Productivity?


GLENN HUBBARD, Columbia University--The Productivity Riddle and "Management"


DALE JORGENSON, Harvard University--Labor Supply and Demand in the Long Run


JOHN TAYLOR, Stanford University--U.S. Growth, Productivity and Wages during the Long Boom



Jan. 5, 2:30 pm



The Economics of Paid Sex Markets (J4)


Presiding: ALAN KRUEGER, Princeton University


STEVE LEVITT, University of Chicago, and SUDHIR VENKATESH, Columbia University--An Empirical Analysis of Street Prostitutes


MANISHA SHAH, University of Melbourne, and PAUL GERTLER, University of California-Berkeley and NBER--Enforcing Licensing Requirements: Implications for Disease Transmission in the Sex Market


TAGGERT BROOKS, University of Wisconsin-La Crosse--In Da Club: An Econometric Analysis of Strip Club Patrons


LENA EDLUND, Columbia University, and EVELYN KORN, Philipps-Universit at Marburg--From Sex to Gender


Discussants: LENA EDLUND, Columbia University

EMILY OSTER, University of Chicago

SCOTT DREWIANKA, University of Wisconsin-Milwaukee

TED BERGSTROM, University of California-Santa Barbara



Jan. 5, 2:30 pm



The Empirics of Corruption (D7)


Presiding: ANDREI SHLEIFER, Harvard University


ABHIJIT BANERJEE, Massachusetts Institute of Technology, and ROHINI PANDE, Harvard University--Parochial Politics: Ethnic Preferences and Politician Corruption


RAY FISMAN, Columbia University, and EDWARD MIGUEL, University of California-Berkeley--Cultures of Corruption: Evidence from Diplomatic Parking Tickets


BENJAMIN OLKEN, Harvard University, and PATRICK BARRON, World Bank--The Simple Economics of Extortion: Evidence from Trucking in Aceh


Discussants: TIMOTHY BESLEY, London School of Economics

PAOLA SAPIENZA, Northwestern University

ANDREI SHLEIFER, Harvard University



Jan. 5, 2:30 pm



Economics and Social Identity (Z1)


Presiding: CATHERINE ECKEL, University of Texas-Dallas


JONAH BERGER, CHIP HEATH, Stanford University, and BENJAMIN HO, Cornell University--Identity Signaling: Explaining Conformity and Abandonment


YAN CHEN, University of Michigan-Ann Arbor, and SHERRY XIN LI, University of Texas-Dallas--Group Identity and Social Preferences


JASON FLETCHER, Yale University--Health Behaviors and Identity Formation: The Case of Smoking


KARLA HOFF and PRIYANKA PANDEY, World Bank--Does Social Hierarchy Affect Social Preferences? Simple Tests in Village India


Discussants: ROLAND BENABOU, Princeton University

RACHEL KRANTON, University of Maryland

RACHEL CROSON, University of Pennsylvania

GEORGE AKERLOF, University of California-Berkeley



Jan. 5, 2:30 pm



Monetary Policy Transparency and Communication (E5)


Presiding: ALAN BLINDER, Princeton University


ATHANASIOS ORPHANIDES, Central Bank of Cyprus,  PAR OSTERHOLM, Uppsala University, and SPENCER DALE, Federal Reserve Board--Imperfect Central Bank Communication: A Double-Edged Sword?


KEN KUTTNER, Oberlin College, and ADAM POSEN, Peterson Institute of International Economics--Do Central Bank Mandates Matter?


CARL WALSH, University of California-Santa Cruz--The Role of Transparency as a Mechanism for Accountability


MICHAEL EHRMANN, European Central Bank, HELGE BERGER, Free University Berlin, and MARCEL FRATZSCHER, European Central Bank--Geography or Skills: What Explains Fed Watchers' Forecast Accuracy of U.S. Monetary Policy?


Discussants: JOHN WILLIAMS, Federal Reserve Bank of San Francisco

      PIERRE SIKLOS, Wilfrid Laurier University

      PETRA GEERAATS, Cambridge University

ALAN BLINDER, Princeton University



Jan. 5, 2:30 pm



Economic Behavior: Evidence from Sports (D0)


Presiding: RICHARD THALER, University of Chicago


V. BHASKAR, University College London--Rational Adversaries? Evidence from Randomized Trials in the Game of Cricket


FRANC KLAASSEN, Tinbergen Institute and University of Amsterdam, and JAN MAGNUS, Tilburg University--Are Economic Agents Successful Optimizers? An Analysis Through Service Strategy in Tennis


JOSEPH PRICE, Cornell University, and JUSTIN WOLFERS, University of Pennsylvania--Racial Discrimination among NBA Referees


CHRISTOPHER ADAMS, Federal Trade Commission--Estimating The Value of "Going For It" (When No One Does)


Discussants: GEORGE-LEVI GAYLE, Carnegie Mellon University

GEORGE DELTAS, University of Illinois

DANIELE PASERMAN, Hebrew University

SHANE FREDERICK, Massachusetts Institute of Technology



Jan. 5, 2:30 pm



Prosperity and Depression: the 1920s and 1930s (N1)


Presiding: SHARON HARRISON, Barnard College, Columbia University


SHARON HARRISON, Barnard College, Columbia University, and MARK WEDER, University of Adelaide--Did Sunspost Forces Cause the Roaring Twenties?


MONIQUE EBELL and ALBRECHT RITSCHL, Humboldt-University of Berlin--Real Origins of the Great Depression: Monopoly Power, Unions and the American Business Cycle in the 1920s


LEE OHANIAN, University of California-Los Angeles--The Contribution of Cartelization Policies to the Start of the Great Depression


BOYAN JOVANOVIC, New York University, and PETER ROUSSEAU, Vanderbilt University--IPO's of the 1920's


Discussants: JANG-TING GUO, University of California-Riverside

MONIKA MERZ, University of Bonn

MICHAEL BORDO, Rutgers University

CAROLA SCHENONE, University of Virginia



Jan. 5, 2:30 pm



Historical Evolution of Financial Institutions (F0, N0)


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


SEBNEM KALEMLI-OZCAN, University of Houston and NBER--Financial Integration, Institutions, and Growth: Historical Evidence from the Ottoman Empire


KEVIN O'ROURKE, Trinity College, AHMED S. RAHMAN, United States Naval Academy, and ALAN TAYLOR, University of California-Davis--Trade, Knowledge and the Industrial Revolution


MURAT IYIGUN, University of Colorado--Ottomans and the Rise of Atlantic Trade


MICHAEL BORDO, Rutgers University and NBER, and PETER ROUSSEAU, Vanderbilt University and NBER--Legal-Political Factors and the Historical Evolution of the Finance-Growth Link


Discussants: DIEGO COMIN, Harvard University AND nber

RODRIGO SOARES, University of Maryland

SIMON JOHNSON, Massachusetts Institute of Technology



Jan. 5, 2:30 pm



Political Economy


Presiding: STEVEN CALLANDER, Northwestern University


MATILDE BOMBARDINI, University of British Columbia, and FRANCESCO TREBBI, University of Chicago--Votes or Money? Theory and Evidence from the U.S. Congress


DARON ACEMOGLU, Massachusetts Institute of Technology, GEORGY EGOROV, Harvard University, and KONSTANTIN SONIN, New Economic School--Coalition Formation in Nondemocracies


DAN KOVENOCK, Purdue University, and BRIAN ROBERSON, Miami University--Is the 50-State Strategy Optimal?


ALIA GIZATULINA, University of Mannheim--Symmetric Third-Party Governance


Discussant: ERNESTO DAL BO, University of California-Berkeley



Jan. 5, 2:30 pm



Security Issuance


Presiding: JAY RITTER, University of Florida


XI LI, Acadian Asset Management, and RONALD MASULIS, Vanderbilt University--Do Venture Investments by Financial Institutions Affect the IPO Underwriting Process?


MARK KAMSTRA, York University, DEBARSHI NANDY, York University, and PEI SHAO, University of Northern British Columbia--Do Financing Expectations Affect Announcement and Long-Run Stock Performance?


AMAR GANDE, Southern Methodist University, and ANTHONY SAUNDERS, New York University--Are Banks Still Special When There is a Secondary Market for Loans?


ELIF SISLI CIAMARRA, New York University--Monitoring by Affiliated Bankers on Board of Directors: Evidence from Corporate Financing Outcomes


Discussants: REBECCA ZARUTSKIE, Duke University and Massachusetts Institute of Technology

XI LI, Acadian Asset Management

BILL WILHELM, University of Virginia

AILSA ROELL, Columbia University



Jan. 5, 2:30 pm



Empirical Studies of Pricing


Presiding: ALAN SORENSEN, Stanford University


DAISUKE KATANO and FUMIKO TAKEDA, University of Tokyo--An Empirical Study of Price Dispersion in the Japanese "Digital Holy Durables" Markets


DANIEL DE MUNNIK, Bank of Canada, and KUAN XU, Dalhousie University--Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms


ARUN SUNDARARAJAN and GAL OESTREICHER-SINGER, New York University--Are Digital Rights Valuable? Theory and Evidence from eBook Pricing


RAPHAEL AUER, Swiss National Bank, and THOMAS CHANEY, University of Chicago--Quality Pricing and Endogenous Entry: A Model of Exchange Rate Pass Through


Discussants: ALAN SORENSEN, Stanford University

      LINDA GOLDBERG, Federal Reserve Bank of New York

      GITA GOPINATH, Harvard University



Jan. 5, 2:30 pm



Consumer Bankruptcy and Credit Scoring: Recent Contributions (E4)


Presiding: MICHELE TERTILT, Stanford University


      LIRAN EINAV, JON LEVIN, Stanford University, and WILLIAM ADAMS, Citigroup--Liquidity Constraints and Imperfect Information in Subprime Lending


      BORGHAN NARAJABAD, University of Texas-Austin--Information Technology and the Rise of Household Bankruptcy


      JIM MACGEE, IGOR LIVSHITS, University of Western Ontario, and MICHELE TERTILT, Stanford University--Costly Contracts and Consumer Lending


      PAIGE SKIBA, Vanderbilt University, and JEREMY TOBACMAN, University of Oxford--The Profitability of Payday Lending



Jan. 5, 2:30 pm



Reconciliation of Seemingly Inconsistent Data Series


Presiding:  DAVID JOHNSON, U.S. Census Bureau


KATHARINE G. ABRAHAM, University of Maryland, JOHN C. HALTIWANGER, University of Maryland and U.S. Census Bureau, and KRISTIN SANDUSKY, U.S. Census Bureau, and JAMES SPLETZER, U.S. Bureau of Labor Statistics--Household vs. Establishment Measures of Employment:  Problems in Measuring Self-employment and Job Changing, and the Role of Multiple Jobs


GEORGE L. PERRY, Brookings Institution--Alternative Measures of Compensation and Wages:  Conceptual Issues and Implications for Policy Makers


LAURENCE H. MEYER, Macroeconomic Advisers--The CPI vs. the PCE Price Index:  The Recent BEA-BLS Reconciliation--Some Lessons for the Federal Reserve and Other Policy Makers           


Discussants: BRUCE D. MEYER, University of Chicago

LAWRENCE F. KATZ, Harvard University

STEPHEN G. CECCHETTI, Brandeis University



Jan. 5, 2:30 pm



Poster Session on Teaching Ideas and Projects


CoordinatorWENDY A. STOCK, Montana State University


G. DIRK MATEER, Pennsylvania State University--Teaching with You Tube: An Economist's Guide to Free Web-Based Content


      MINE E. CINAR, Loyola University Chicago--Teaching Intermediate Microeconomics as a Financial Writing Intensive Class


      PRÓDROMOS-IOÁNNIS PRODROMÍDIS, Centre of Planning and Economic Research (KEPE), Greece--A Case of Teaching by Blending Lectures with Dialogue, Site-Visits, Games, Research, and Peer Reviews


      CHARLES P. ROCK, Rollins College--Reforming the Liberal Arts Economics Major for Students at Rollins College: 1999-2008


      K.K. FUNG, University of Memphis--Livingeconomics--Customizing Microeconomics Principles Textbook using OpusI and Flashecon


      JOSHUA C. HALL, West Virginia University, ROBERT A. LAWSON, Capital University, and G. DIRK MATEER, Pennsylvania State University--From ABBA to Zeppelin, Led: A Web Resource for Teaching Economics through Music


      NANCY BROOKS, University of Vermont--Using Problem-Based Service-Learning to Teach Local Economic Development


      JAMES BRUEHLER and LINDA GHENT, Eastern Illinois University--A Funny Thing Happened in My Economics Course


      OSMAN GULSEVEN, North Carolina State University--Learning Economics with Games


      HOLLY FRETWELL, Montana State University, NOREEN LEPHARDT, Marquette University, and ROBERT REINKE, South Dakota Council on Economic Education, University of South Dakota--Economics and the Environment


      REBECCA SUMMARY, Southeast Missouri State University--Enhancing Communication in Distance Learning Courses


LAURA SHINN, Temple University--Show Me the Money! An Object Lesson in Which Students Actively Learning Money Supply Changes


      MARILYN COTTRELL, Brock University, Canada--A Complementary Technique for Reinforcing Basic Microeconomic Principles by Utilizing Animated Vignettes


      JOHNNIE B. LINN III, Concord University--Student Assessment of an Economics Teaching Card Deck


      CATHERINE LAWSON and LARRY LAWSON, Missouri Western State University--Designs on Learning: Using Lessons from Video Games to Teach and Learn Economics


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


      STEVEN C. MYERS, University of Akron--Problem Based Learning in an Applied Econometric Curriculum


      JAY CORRIGAN, Kenyon College--The Pollution Game: A Classroom Demonstration


      GWENDOLYN C. MORRISON, Indiana University-Purdue University-Indianapolis, GENE BEYT, Tulane University, THOMAS INUI, Regenstrief Institute and Indiana University-Purdue University-Indianapolis, and DEBRA LITZELMAN, Indiana University-Purdue University-Indianapolis--Teaching Health Policy and Economics in a Medical School Using Team-Based Learning


      CARSTEN LANGE, California State Polytechnic University--Integrating Active Learning in an Online Class for Principles in Microeconomics


      LYNN HUNNICUTT and KAREN TRAVIS, Pacific Lutheran University--Interactive Learning in the Capstone Course


      JOHN R. CROOKER, University of Central Missouri--Interactive Web-Tools in Principles of Macroeconomics: Recent Experiences with Macromedia Breeze, Online Homeworks, and iTunes Podcasts


JOHN KANE, State University of  New York-Oswego--A Mastery Learning Approach in Introductory Microeconomics Courses


      ZHIFANG PENG and DILARA TAS, Southern Illinois University-Carbondale--A Classroom Experiment on Production Possibilities Frontier


      YELENA F. TAKHTAMANOVA, Federal Reserve Bank of San Francisco--FRBSF University Symposium Program


      MIKE ALLGRUNN, DAVID CARR, University of South Dakota, and ROBERT REINKE, South Dakota Council on Economic Education, University of South Dakota--Teaching Resource Allocation: Markets, Lotteries, and Arbitrage


      BARB BLOEMHF, McMaster University, Canada--Essay Assignments that Delivery Critical Thinking



Jan. 5, 2:30 pm



Asian Economy and Asian Money


Presiding:  ROBERT MUNDELL, Columbia University


      MASAHIRO KAWAI, Tokyo University and Asian Development Bank--The Asian Money


      MICHAEL PLUMMER, Johns Hopkins University--Market-Driven Regionalism in Asia: Integration, Competitiveness and the Quest for Best Practices


      M. DUTTA, Rutgers University--Optimum Currency Areas: U.S. Dollar, Euro and Asian Money


Discussants: MARDY DUNGEY, Cambridge University, UK

      JANG HEE YOO, Ewha University, Korea and Korea Economic Research Institute

      MICHAEL PLUMMER, Johns Hopkins University

      GIOVANNI CAPANNELLI, Asian Development Bank



Jan. 5, 2:30 pm



Household Finance: Mortgage Choice, Persuasion, and Life Cycle Housing (G1)


Presiding: JOHN CAMPBELL, Harvard University


      SUMIT AGARWAL, Federal Reserve Bank of Chicago, and BRENT AMBROSE, Pennsylvania State University--To Arm, or Not to Arm: Evidence of the Effect of Persuasion on Financial Decisions


      OTTO VAN HEMERT, New York University--Life-Cycle Housing and Portfolio Choice with Bond Markets


      ALLIE SCHWARTZ, Harvard University--Who Takes Out Adjustable Rate Mortgages?


Discussants: HENRIK CRONQVIST, Ohio State University

      NICHOLAS SOULELES, University of  Pennsylvania

      RICHARD ROSEN, Federal Reserve Bank of Chicago



Jan. 5, 2:30 pm



Executive Compensation


Presiding: DIRK JENTER, Stanford University


CAROLA FRYDMAN, Massachusetts Institute of Technology, and RAVEN E. SAKS, Government of the United States of America--Executive Compensation: A New View from a Long-Term Perspective, 1936-2005

STEVEN N. KAPLAN and JOSHUA D. RAUH, University of Chicago--Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

SANDEEP DAHIYA, Georgetown University, and DAVID YERMACK, New York University--You Can't Take It with You: Sunset Provisions for Equity Compensation when Managers Retire, Resign, or Die

Discussants: LAURA STARKS, University of Texas-Austin
ANTOINETTE SCHOAR, Massachusetts Institute of Technology
YANIV GRINSTEIN, Cornell University


Jan. 5, 2:30 pm



Understanding Investor Preferences


Presiding: CHRISTOPHER POLK, London School of Economics & Political Science


HARRISON G. HONG, Princeton University, and MARCIN T. KACPERCZYK, University of British Columbia--The Price of Sin: The Effects of Social Norms on Markets


ULRIKE MALMENDIER, University of California-Berkeley, and STEFAN NAGEL, Stanford University--Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?


BRIAN J. HENDERSON, Seton Hall University, and NEIL D. PEARSON, University of Illinois-Urbana-Champaign--Patterns in the Payoffs of Structured Equity Derivatives


Discussants: ANTTI PETAJISTO, Yale School of Management
RANDOLPH COHEN, Harvard Business School
JOSHUA COVAL, Harvard Business School



Jan. 5, 2:30 pm



Predictability in the Stock, Bond, and Options Markets

Presiding: ROSSEN VALKANOV, University of California-San Diego




LOUIS H. EDERINGTON, University of Oklahoma, and WEI GUAN, University of South Florida-St. Petersburg--Volatility Forecasts for Option Valuation


JESSICA A. WACHTER, University of Pennsylvania, and MISSAKA WARUSAWITHARANA, Federal Reserve Board--What is the Chance that the Equity Premium Varies Over Time? Evidence from Predictive Regressions


GEORGE E. TAUCHEN, Duke University, and HAO ZHOU, Federal Reserve Board--Realized Jumps on Financial Markets and Predicting Credit Spreads


Discussants: SHINGO GOTO, Barclays
GEORGE JIANG, University of Arizona
JING-ZHI JAY HUANG, Pennsylvania State University



Jan. 5, 2:30 pm



Information and Trade

Presiding: CHRISTINE PARLOUR, University of California-Berkeley


PAOLO COLLA, Università Bocconi and ANTONIO MELE, London School of Economics & Political Science--Information Linkages and Correlated Trading


NEVZAT EREN, University of Minnesota-Twin Cities, and HAN N. OZSOYLEV, University of Oxford--Hype and Dump Manipulation


ALEX BOULATOV and THOMAS J. GEORGE, University of Houston--Securities Trading when Liquidity Providers are Informed


Discussants: JOHAN WALDEN, University of California-Berkeley
BILGE YILMAZ, University of Pennsylvania
IOANID ROSU, University of Chicago



Jan. 5, 2:30 pm



Trends in Empirical Capital Structure


Presiding: MURILLO CAMPELLO, University of Illinois at Urbana-Champaign


MICHAEL R. ROBERTS, University of Pennsylvania, and AMIR SUFI, University of Chicago--Control Rights and Capital Structure: An Empirical Investigation


ALEXANDER KURSHEV, London Business School, and ILYA A. STREBULAEV, Stanford University--Firm Size and Capital Structure


MICHAEL W. FAULKENDER, Washington University-St. Louis, and JASON M SMITH, University of Kentucky--Are Adjustment Costs Impeding Realization of Target Capital Structure?


SREEDHAR T. BHARATH, PAOLO PASQUARIELLO, University of Michigan-Ann Arbor, and GUOJUN WU, University of Houston--Does Asymmetric Information Drive Capital Structure Decisions?


Discussants: VIRAL ACHARYA, London Business School
DIRK HACKBARTH, Washington University-St. Louis
MARK LEARY, Duke University
MURRAY FRANK, University of Minnesota-Twin Cities



Jan. 5, 2:30 pm



REITS & Investment  (L8)


Presiding: J. SA-AADU, University of Iowa


KENNETH D. ROSKELLEY, University of Arizona, MICHAEL J. HIGHFIELD, and DENNIS F. STEELE, Mississippi State University--Can Secondary Market Investors Profit from REIT IPOs?


ERASMO GIAMBONA, University of Amsterdam--Compounding Biases in the CRSP/Ziman Real Estate Database: Implications for Performance Measurement


RICHARD CHUNG, Hong Kong Polytechnic University, JAMES D. SHILLING, DePaul University, SCOTT FUNG, and TAMMIE X. SIMMONS-MOSLEY, California State University-East Bay--The Role of Institutional Investors in Real Estate: Theory and Empirical Evidence


TOBIAS MÜHLHOFER, Indiana University--They Would If They Could: Assessing the Bindingness of the Property Holding Constraints for REITs


KATHY HUNG, California State University-East Bay, ZHAN ONAYEV, State Street Global Advisors, and CHARLES TU, University of San Diego--Time-Varying Diversification Effect of Real Estate in Institutional Portfolios: When Alternative Assets Are Considered


Discussants: SEOW-ENG ONG, National University of Singapore
 JAY HARTZELL, University of Texas-Austin
 NURAY GUNER, Middle East Technical University
 WALTER BOUDRY, University of North Carolina-Chapel Hill
 CROCKER LIU, Arizona State University



Jan. 5, 2:30 pm



Housing Affordability (R2)


Presiding: MARSHA J. COURCHANE, CRA International


PIET EICHHOLTZ and THIES LINDENTHAL, Maastricht University--Demographic Change and the Demand for Housing: British Evidence


JEFFREY ZABEL, Tufts University, and HENRY POLLAKOWSKI, Massachusetts Institute of Technology--Regional Housing Affordability


BRENT C. SMITH, Virginia Commonwealth University--The Influence of Affordability on Construction Quality: Developer Response to Externalities in the Market


PAUL S. WILLEN and KRISTOPHER GERARDI, Federal Reserve Bank of Boston, and HARVEY S. ROSEN, Princeton University--Unaffordable or Too Expensive: A New Approach to Housing Affordability


Discussants: CHRISTIAN REDFEARN, University of Southern California
 PETER ZORN, Freddie Mac
 CHRISTOPHER CUNNINGHAM, Federal Reserve Bank of Atlanta
 ANDREA HEUSON, University of Miami



Jan. 5, 2:30 pm



Comparative Empirical Studies of Labor-Managed and Conventional Firm Creation (L2)


Presiding: AVNER BEN-NER, University of Minnesota


      JAN M. PODIVINSKY and GEOFF STEWART, University of Southampton, UK--On the Choice Between Capitalist and Labor-Managed Firm Production: Evidence From a Panel of Entrants into UK Manufacturing 


      SAIOA ARANDO LASGABASTER, Deusto University, Spain--Entry and Exit of Worker Cooperatives and Conventional Firms in the Spanish Basque Country


      PANU KALMI, Helsinki School of Economics, Finland--Catching a Wave: Co-operative Entrepreneurship in Finnish Regions


      VIRGINIE PEROTIN, Leeds University Business School, UK--The Compared Determinants of Labor-Managed and Conventional Firm Creation: An Empirical Study on Industry-Level French Data


Discussants: KAUSIK CHAUDHURI, Leeds University, UK

      MARK KLINEDINST, University of Southern Mississippi



Jan. 5, 2:30 pm



Methodological and Theoretical Foundations of Institutional Economics (B5)


Presiding: ULRICH WITT, Max Plank Institute of Economics and University of Jena


KLAUS NIELSEN, Roskilde University and Birkbeck College, University of London--Original and New Institutional Economics--A Stylized Comparison of Core Propositions


WILFRED DOLFSMA, University of Groningen, and ANTOON SPITHOVEN, University of Utrecht--What Does the Phenomenon of "Silent Trade" Tell Us About the Supposed Continuum between OIE and NIE?


WOLFRAM ELSNER, University of Bremen--A Process and Some Logic of "Meso": On Emergence and the Why and How of "Meso-Economics"


CARSTEN HERRMANN-PILLATH, Witten/Hedecke University, Clarence Ayres Visiting Scholar--Deducing Principles of Economics from Ontological Constraints on Information


DAVID DEQUECH, University of Campinas--Institutional Logics: A First Approximation


Discussant:  GEOFF HODGSON, University of Hertfordshire



Jan. 5, 2:30 pm



Regulation, Deregulation, and Reform (L5)


Presiding: GLEN ATKINSON, University of Nevada-Reno


JANICE PETERSON, California State University-Fresno--Institutional Change and Alternative Reform Agendas: Unemployment Insurance


STEPHEN P. PASCHALL, Lovett Bookman Harmon Marks LLP--John R. Commons's Contributions to Health Care Reform in the 21st Century


BOB LOUBE, Rolka Loube Saltzer Associates--Network Neutrality and Control of the Internet


HARRY TREBING, Michigan State University--The Multidimensional Consequences of Electricity and Gas Deregulation and Their Implications for Successful Policy Reform


BURL HAAR, Minnesota Public Utilities Commission--Economic Regulation, The Lights are Still On: A View from the Inside


Discussant: ERIC R. HAKE, Eastern Illinois University


Jan. 5, 2:30 pm



Power and Culture in the Neoliberal Regime (B5)


Presiding: WILLIAM WALLER, Hobart and William Smith Colleges


PHIL O'HARA, Curtin University, Australia--Global Inequality and Uneven Development: Recent Trends and Patterns


MICHAEL CARROLL, Bowling Green State University, and JAMES RONALD STANFIELD, Colorado State University and Bowling Green State University--Toward Sustainable Adaptive Efficiency in Thomas Friedman's Flat World


MARY WRENN, Weber State University--Identity, Identity Politics, and Neoliberalism


GEOFFREY SCHNEIDER, Bucknell University--Comparative Institutional Advantage and the Appropriate Development Model for sub-Saharan Africa


Discussant: WILLIAM WALLER, Hobart and William Smith Colleges



Jan. 5, 2:30 pm



The Stern Review of the Economics of Climate Change and Its Critics

(Roundtable Discussion)  (Q5)


Presiding: ROBERT STAVINS, Harvard University


WILLIAM CLINE, Peterson Institute for International Economics

SCOTT BARRETT, Johns Hopkins University



MARTIN WEITZMAN, Harvard University

NICHOLAS STERN, London School of Economics and Political Science

JOHN WEYANT, Stanford University



Jan. 5, 2:30 pm



Comparative Corporate Finance (O5)


Presiding: VOJISLAV MAKSIMOVIC, University of Maryland


MARK ROE and JORDAN SIEGEL, Harvard University--Political Instability and Financial Development


MEGHANA AYYAGARI, George Washington University, ASLI DEMIRGUC-KUNT, World Bank, and VOJISLAV MAKSIMOVIC, University of Maryland--Formal versus Informal Finance: Evidence from China


FRANKLIN ALLEN, University of Pennsylvania, RAJESH CHAKRABARTI, SANKAR DE, Indian School of Business, JUN QIAN, Boston College, and MEIJUN QIAN, National University of Singapore--Comparing the Financial Systems of China and India


REENA AGGARWAL, Georgetown University, ISIL EREL, RENE STULZ, Ohio State University, and ROHAN WILLIAMS, Georgetown University--Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth



Discussants: RAGHURAM RAJAN, University of Chicago

JOSEPH FAN, Chinese University of Hong Kong

SUGATO BHATTACHARYYA, University of Michigan

STIJN CLAESSENS, International Monetary Fund



Jan. 5, 2:30 pm



Trade Related Issues, II (F2, F3, F4)


Presiding: SURESH DESAI, Montclair State University


      SUHAS KETKAR, Vanderbilt University--Magnifying the Development Impact of Remittances


      RAM UPENDRA DAS, Research and Information System for Developing Countries, and MEENAKSHI RISHI, Seattle University--Two-Way Linkages between Trade and Financial Liberalization


      ATRAYEE GHOSH ROY, Minnesota State University, and HENDRIK VAN DEN BERG, University of Nebraska--Trade and Indian Economy


      SUSHANTA MALLICK and HELENA MARQUES, University of London--Pass-Through of Exchange Rate and Tariffs into Import Prices of India


      CHAITRAM TALELE, Columbia State College--Economic Analysis of Non-tariff Barriers in International Trade


      SUDHANVA CHAR, Life University--India, China and the U.S. during the Next Ten Years


      RENU KALLIANPUR, AXA Advisors and SAL MIEKES--Interlinkages in World Financial Markets


Discussants: SANDWIP K. DAS, University of California-Riverside

      SAURAV BATABYAL, University of Wisconsin-Milwaukee

      SHAILENDRA GAJANAN, University of Pittsburgh

      GOVINDA KOIRALA, University of Rio Grande

      PARUL JAIN, Standards and Poor



Jan. 5, 2:30 pm



Institutions and Economic Development (O4)


Presiding:  ZHIQIANG LIU, University at Buffalo


LI GAN, Texas A&M University and NBER, LIXIN COLIN XU, World Bank, and YANG YAO, Peking University--Health Shocks, Village Elections, and Long-term Income: Evidence from Rural China


CHERYL XIAONING LONG, Colgate University, and XIAOBO ZHANG, International Food Policy Research Institute--Organization Choice with Credit Constraint: Industrial Clusters in China


LI GAN, Texas A&M University and NBER, LIXIN COLIN XU, World Bank, and YANG YAO, Peking University--Governance, Finance, and Consumption Insurance: Evidence from Chinese Villages


HONGPING JIANG and DAVID D. LI, Tsinghua University--Optimal Investment to GDP Ratio in a Developing Economy:  Is China Over-investing


Discussants: SCOTT ROZELLE, Stanford University

XIAO-YUAN DONG, University of Winnipeg

GARY JEFFERSON, Brandeis University

NAN LI, Ohio State University



Jan. 5, 2:30 pm



Recent Developments in Experimental Game Theory (C9)


Presiding: JOHN KAGEL, Ohio State University


PEDRO DAL BO, Brown University, and GUILLAUME FRECHETTE, New York University--The Evolution of Cooperation in Infinitely Repeated Games: Experimental Evidence


JACOB GOEREE and LEEAT YARIV, Cal Tech--An Experimental Study of Jury Deliberation


DAVID COOPER, Florida State University, and JOHN KAGEL, Ohio State University--Are Two Heads Really Better than One? Team Play versus Advice in Signaling Games


STEFFEN ALTMANN, ARMIN FALK, and MATTHIAS WIBRAL, University of Bonn and IZA--Promotions in Multi-Stage Elimination Tournaments: an Experimental Investigation


Discussants: JOHN DUFFY, University of Pittsburgh

MASSIMO MORELLI, Ohio State University

COLIN CAMERER, California Institute of Technology

BRUCE WEINBERG, Ohio State University



Jan. 5, 2:30



International Trade (F1)


Presiding: JAMES ANDERSON, Boston College


ARNAUD COSTINOT and  IVANA KOMUNJER, University of California-San Diego--What Goods Do Countries Trade? New Ricardian Predictions


FRANCISCO ALCALÁ, Universidad de Murcia--Product Quality and Trade


DAVIN CHOR, Singapore Management University--Unpacking Sources of Comparative Advantage: A Quantitative Approach


JAMES E. ANDERSON, Boston College and NBER--Gravity, Productivity and the Pattern of Production and Trade


Discussants: SAMUEL KORTUM, University of Chicago

CHRISTIAN BRODA, University of Chicago



Jan. 5, 2:30 pm



Treatment Effects and Policy Analysis (C2)


Presiding: ARTHUR LEWBEL, Boston College


DEBOPAM BHATTACHARYA, Dartmouth College, AMITABH CHANDRA, Harvard University, and XIAOHONG CHEN, New York University--A Nonparametric Analysis Of Optimal Healthcare Expenditure


JINYONG HAHN, University of California-Los Angeles, KEISUKE HIRANO, University of Arizona, and DEAN KARLAN, Yale University--Adaptive Design of Multiple Stage Experiments using the Propensity Score


TOBIAS KLEIN, University of Mannheim--Heterogeneous Treatment Effects: Instrumental Variables without Monotonicity?


ARTHUR LEWBEL, Boston College--Identifying the Returns to Lying When the Truth is Unobserved



Jan. 5, 2:30 pm



Nonlinear Financial Time Series (C5)


Presiding: XILONG CHEN, University of North Carolina-Chapel Hill


YONGMIAO HONG, Cornell University, and YOON-JIN LEE, Indiana University--Detecting Misspecifications in Autoregressive Conditional Duration Models


PER MYKLAND, University of Chicago, and ERIC RENAULT, University of North Carolina--Causality and the Estimation of Volatility in High Frequency Data


STANISLAV ANATOLYEV, New Economic School, and NIKOLAY GOSPODINOV, Concordia University--Modeling Financial Return Dynamics by Decomposition


XILONG CHEN and ERIC GHYSELS, University of North Carolina--News - Good Or Bad - And Its Impact Over Multiple Horizons



Jan. 5, 2:30 pm



Set Estimation (C1)


Presiding: VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology 


ELIE TAMER, Northwestern University--New Estimation Methods in Set Identified Models


ALFRED GALICHON, Harvard University--Inference in Incomplete Models


CHRISTIAN BONTEMPS, THIERRY MAGNAC, University of Toulouse and IDEI, and ERIC MAURIN, PSE--Set Identified Linear Models


ARIE BERESTEANU, Duke University, ILYA MOLCHANOV, University of Bern, and  FRANCESCA MOLINARI, Cornell University--Asymptotic Behavior of Inequality Constrained Models - With Applications to Office Supply Superstores



Jan. 5, 2:30 pm



Information and Asset Prices  (G1)


Presiding: WEI XIONG, Princeton University                               


RUI ALBUQUERQUE, Boston University, and JIANJUN MIAO, Boston University and HKST--Advance Information and Asset Prices


XAVIER GABAIX, Massachusetts Institute of Technology--A Simple, Unified, Exactly Solved Framework for Ten Puzzles in Macro-Finance


DARRELL DUFFIE, Stanford University, GASTON GIROUX (unaffiliated), and GUSTAVO MANSO, Massachusetts Institute of Technology--Information Percolation


HONG JUN YAN, Yale University, and WEI XIONG, Princeton University--Heterogeneous Expectations and Bond Markets



Jan. 5, 2:30 pm



Empirical Macroeconomics (E0)


Presiding: RICARDO REIS, Princeton University


HUIYU HUANG, TAE-HWY LEE, and CANLIN LI, University of California-Riverside--Forecasting Output Growth and Inflation: How to Use Information in the Yield Curve


S. BORAGAN ARUOBA, University of Maryland, FRANCIS X. DIEBOLD, University of Pennsylvania, and CHIARA SCOTTI, Federal Reserve Board--Real-Time Measurement of Business Conditions


JINILL KIM, Federal Reserve Board, and FRANCISCO RUGE-MURCIA, University of Montreal--How Much Inflation is Necessary to Grease the Wheels?


RICARDO REIS, and MARK W. WATSON, Princeton University--Measuring Changes in the Value of the Numeraire


Discussants: JONATHAN WRIGHT, Federal Reserve Board

GIORGIO PRIMICERI, Northwestern University



Jan. 5, 2:30 pm



Session to Honor Kenneth L. Sokoloff


Presiding: STEPHEN HABER, Stanford University


ROBERT ALLEN, Oxford University -- Research on Inventive Activity and Technological Change


CLAUDIA GOLDIN, Harvard University -- Research on Early Manufacturing and Productivity


JAMES ROBINSON, Harvard University -- Research on the Sources of Economic Growth and Development


DOUGLASS NORTH, Washington University-St. Louis -- Kenneth L. Sokoloff and Cliometrics


Discussants: To be announced.



Jan. 5, 2:30 pm



The Future of the Defense Budget


Presiding:  MICHAEL LIND, New America Foundation


JOSEPH STIGLITZ, Columbia University, and LINDA BILMES, Harvard University--Five Years of War: Reassessing the Economic Cost of Conflict in Iraq 


BARBARA BERGMANN, American University--A Cost/Benefit Analysis of Large Military Budgets


WINSLOW WHEELER, Strauss Military Reform Project, Center for Defense Information-- Weapons Systems That Don't Work for Threats That Don't Exist  


RICHARD KAUFMAN, Bethesda Research Institute--The Next Peace Dividend  



Jan. 5, 2:30 pm



Rawls and the Economists (B3)


Presiding: SANDRA PEART, University of Richmond


SANDRA PEART, University of Richmond, and DAVID LEVY, George Mason University--The Buchanan-Rawls Correspondence


JOHN DAVIS, Marquette University and University of Amsterdam--Rawls and Sen on Deliberative Democracy


JOE PERSKY, University of Illinois-Chicago--Rawls' Thin Defense of Property


Discussants: STEVEN DURLAUF, University of Wisconsin

DAVID COLANDER, Middlebury College



Jan. 5, 2:30 pm



Gender, Race, and Ethnicity in the Americas (J1)


Presiding: MARIA DE LOS ANGELES CRUMMETT, University of South Florida


BETILDE RINCON DE MUNOZ and CAROLE A. GREEN, University of South Florida--Labor Force Participation Among Women in Venezuela: Work in the Formal Versus the Informal Sector


MARY C. KING, Portland State University--Mexican Women's Work on Both Sides of the U.S. Mexican Border

MARLENE KIM, University of Massachusetts-Boston--The Intersection of Race and Gender in the Earnings of Black Women


CRUZ BUENO, University of Massachusetts-Amherst--Afro-Latinas, Neoliberalism and Export Processing Zones in the Dominican Republic


Discussants: MARY LOPEZ, Occidental College
CECILIA CONRAD, Scripps College and Pomona College



Jan. 5, 2:30 pm



Workers' Rights in the Aftermath of Natural Disasters


Presiding: CHARLIE JESZECK, U.S. Government Accountability Office


      MICHAEL Z. GREEN, Texas Wesleyan School of Law--What Hurricane Katrina Should Have Taught Employers about Using Expedited ADR to Address Employment Matters in a Crisis


      REVAE MORAN, U.S. Government Accountability Office--Protecting the Health and Safety of Response and Rescue Workers during the Katrina Disaster


      MARIELENA HINCAPIE, National Immigration Law Center--After the Flood: The Consequences of Hurricane Katrina


      RUBEN GARCIA, California Western University School of Law--New Orleans: Ground Zero of a Neoliberal Labor Policy


      ART LUJAN, Building Trades Workforce Development Project--Rebuilding Our Lives, Rebuilding Our City: Issues of Wages and Workforce Development in the Reconstruction of New Orleans



Jan. 5, 2:30 pm



Supplier Relations in the Global Auto Industry: Ready to Rebuild or Still Unstable?


Presiding: ARTHUR R. SCHWARTZ, General Motors


SUSAN HELPER, Case-Western Reserve University--Can U.S. Suppliers Meet the Challenge of Globalization?

DAN LURIA, Performance Benchmarking Service, Michigan Manufacturing Technology Center--Regional Strategies for the U.S. Auto Parts Industry

NIRAJ GANATRA, United Auto Workers--Rebuilding After Bankruptcy

MARI SAKO, Oxford University (not confirmed) OR John Paul MacDuffie, University of Pennsylvania-- European and Japanese Trends in Auto Industry Supplier Relations

Discussant: LINDA EWING, United Auto Workers

SUSAN NUTSON, Tower Automotive



Jan. 5, 2:30 pm



Poster Session


Presiding: ROBERT HOELL, Georgia Southern University


DIANE-GABRIELLE TREMBLAY, CATHERINE CHEVRIER, and MARTINE DI LORETO, Télé-université--Self-Employment: A Better Reconciliation of Personal and Professional Life...Or More Crossovers in Social Times?


YONG-SEUNG PARK, Kyung Hee University and YONG-JIN NHO, Seoul National University of Technology--Unions, Informal Learning, and Economic Competitiveness


      TERRY H. WAGAR, Saint Mary's University--I'm Out of Here: Factors Associated with Quit Behavior in the Canadian Trucking Industry


JOHANNA WESTSTAR, University of Toronto--Facilitating the Match between Education and Jobs: A Role for Increased Worker Control


DARLA FLINT PAULSON, University of Minnesota--How Allowing Employees Decision Making Influence Affects Customer Wellbeing:  A Stakeholder Theory Perspective


HERVÉ QUENEAU--Changes in Racial and Ethnic Segregation in the Workforce


RUPA BANERJEE, University of Toronto--Post-Migration Education & the Labour Market Integration of New Immigrants in Canada


DARLA FLINT and YINGCHUN WANG, University of Minnesota--The Existence and Implications of Employee--Manager Perception Discrepancies of High Performance Work Systems


RICHARD A. OPLAND, KYOKO KATO, MICHAEL L. MOORE, and MINGZHU NIE, Michigan State University--The Role of Work Design in the Strategic Human Resource Management -- Performance Relationship: Aligning Work and People Systems for Better Firm Performance


MATTHEW M. BODAH, University of Rhode Island, DALE BELMAN, Michigan State University, and PETER PHILIPS, University of Utah--Construction Sector Project Labor Agreements: A Research Update


TING REN, University of Minnesota--Union Effect on Trust in the Workplace


JAEWONG KIM, JOHN PAUL MACDUFFIE, University of Pennsylvania, and FRITS PIL, University of Pittsburgh--Employee Voice and Organizational Performance


      STEPHANE RENAUD, University of Montreal--Does Voluntary Training Impact Workers' Wages?  An Empirical Investigation Based on Within-Firm Data


      WEI-CHIAO HUANG, Western Michigan University--Examining the Employment Impact of Michigan's Renaissance Zone Program


JACK L. HOWARD, Illinois State University--Employee Awareness And Perceptions Surrounding Workplace Violence Policies


EDWIN W. ARNOLD, Auburn University-Montgomery, and CLYDE J. SCOTT, University of Alabama--Raid Elections Revisited


TIMOTHY J. KEAVENY, EDWARD J. INDERRIEDEN, and BONNIE S. O'NEILL, Marquette University--Factors Related to Perceptions Regarding Alternative Forms of Variable Pay


KRISTEN M. MUNDAY, University of Minnesota--What Kinds of Workers are Never-Members?  An Analysis of Individuals Who Choose Never to Join Unions in the United States


DIANE FREY, London School of Economics and Political Science--Theorizing Labour Rights: An Institutional Approach to Compliance Theory: The Case of Labour Rights in Central America


RAFAEL GELY, University of Cincinnati, and TIMOTHY D. CHANDLER, Louisiana State University--The "Lumpiness" of Grievance Arbitration Decision-Making


JING WANG, University of Toronto--The Effects of Minimum Wages on Employment and Wage: Evidence from China


      HELEN LAVAN, DePaul University, and MARSHA KATZ, Governors State University--Problems in Finding Solutions to the Impact of Obesity on Organizations


ADAM SETH LITWIN, Massachusetts Institute of Technology--Information Technology and Industrial Relations: Work, Workers, and the Performance Impact of an Electronic Health Records System


_      GREGOR GALL, University of Hertfordshire--Statutory Union Recognition Provisions as Stimulants to Employer Anti-Unionism in Two Anglo-Saxon Countries


      JIAJIA CUI, Tilburg University--Intergenerational Risk Sharing Within Funded Pension Schemes


      JEROME BARRETT, Friends of FMCS History Foundation--Sixty Years of FMCS: 1947 to 2007


ITHAK HARPAZ, University of Haifa--The Current Position of Labor Unions in Israel: Is There a Future?



Jan. 5, 2:30 pm



Finance and Credit Markets (G1)


Presiding:  HASSAN HAKIMIAN, Cass Business School


MURAT USTA, University of Alberta, and NURAY GUNER, Middle East Technical University -- The Role of Foreign Investors in an Emerging Stock Market


RIZA DEMIRER, Southern Illinois University-Edwardsville, and ALI M. KUTAN, Southern Illinois University-Edwardsville, William Davidson Institute, University of Michigan, and Cass Business School, London--Do Investors Herd in MENA Stock Markets?


M. KABIR HASSAN and JUNG-SUK YU, University of New Orleans--Rational Speculative Bubbles: An Empirical Investigation of the Middle East and North African (MENA) Stock Markets


ADEL BOUGHRARA, University of Sousse--The Importance of the Bank Lending Channel in Tunisia


MOHAMED CHAFFAI, University of Sfax, and MICHEL DIETSCH, University of Strasbourg -- The Price of Bad Loans: An International Banking Comparison


Discussants: ALI DARRAT, Louisiana Tech University

NAEEM MUHAMMAD, University of Wollongong

GEORGIOS CHORTAREAS, University of Essex

VUSLAT US ALIOGLU, Central Bank of the Republic of Turkey

SAMY BEN NACEUR, University of Tunis Carthage



Jan. 5, 2:30 pm



Economics Education: Evaluating Instructor Effectiveness (A2)


Presiding:  SUSAN DOTY, University of Southern Mississippi


ANGELA DILLS, Mercer University, and DENNIS PLACONE, Clemson University--Teacher Attitudes and Teacher Knowledge in Economic Education


      SAMER KHERFI, American University of Sharjah--Whose Opinion Is It Anyway?  Characteristics of Respondents to Student Surveys of Teachings


      TIN-CHUN LIN, Indiana University-Northwest--Revenge or Reward: Economic Behavior of Student Evaluation of Teachers


      BILL GOFFE, State University of New York-Oswego--Redesigning a Large Macro Principles Course Using Bain's What the Best College Teachers Do


Discussants: ANDREW I. KOHEN, James Madison University

SOLINA LINDAHL, California Polytechnic State University                                

MORRIS COATS, Nicholls State University

MIKE LOVELL, Wesleyan University



Jan. 5, 2:30 pm



Forensic Economics IV (K4)


Presiding: MICHAEL L. BROOKSHIRE, Marshall University Graduate College


DAVID SCHAP, College of the Holy Cross, and STEVEN J. SHAPIRO, University of New Haven, and CAITLIN STREET, College of the Holy Cross--Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of Rhode Island


STEPHEN M. HORNER, Economic Consulting--Stationarity of Medical Net Discount Rates


MICHAEL J. PIETTE, Analytical Economics, Inc., and FRANK SLESNICK, Bellarmine University--Net Accumulation to the Estate: Meaning and Measurement


Discussants: PETER A. MARKS, Rhode Island College

REBECCA SUMMARY, Southeast Missouri State University

FRANK D. TINARI, Tinari Economics Group



Jan. 5, 2:30 pm



Human Capital, Social Capital, and Wealth Among Hispanics in the United States (I3)


Presiding: ALBERTO DAVILA, University of Texas-Pan American


DAVID MOLINA, University of North Texas--Income Inequality Between Homogeneous Race/Ethnic Households and Mixed Race/Ethnic Households


BARBARA J. ROBLES, Arizona State University--Using Tax Refunds to Capitalize Micro-Businesses: Family and Community wealth Building in the Borderlands


RENE P. ROSENBAUM, Michigan State University--Articulating the Economic Importance of Non-Parental Child Care for U.S. Hispanics: Challenges for Policy


RICHARD FRY, Pew Hispanic Center--The Educational Attainment of Hispanic Youth in New Settlement States


Discussants: MARK HUGO LOPEZ, University of Maryland

TEOFILO OZUNA, University of Texas-Pan American

SUE STOCKLY, Eastern New Mexico University

ISABEL RUIZ, Sam Houston State University



Jan. 5, 2:30 pm



Trade, Investment and Economic Integration in the Americas (F1)


Presiding: MAHMOOD ZAIDI, University of Minnesota


ANDREAS WALDKIRCH, Colby College--The Effects of Foreign Direct Investment in Mexico since NAFTA


AHMED KHALID, Bond University--Mexican Currency Crisis and its Spillover Effects to Global Financial Markets -- Granger Causality Tests Using a Multivariate VAR Model


LUIS CACERES, UNDP El Salvador--Human Capital, Institutions, and Economic Integration in Latin America

ERWAN QUINTIN, Federal Reserve Bank of Dallas--Currency Crises, Worker Reallocation, and Total Factor Productivity


Discussants: SVEN ARNDT, Claremont McKenna College

HARVEY ROSENBLUM, Federal Reserve Bank of Dallas

ANIL KUMAR, Federal Reserve Bank of Dallas

JIM BROX, University of Waterloo



Jan. 5, 2:30 pm



Computational Aspects of Macroeconomic Policy Modeling (C6)


Presiding: SHARON KOZICKI, Bank of Canada


ROBERTO BILLI, Federal Reserve Bank of Kansas City--Optimal Inflation for the U.S.


RHYS MENDES, Bank of Canada--Information, Expectations and the Business Cycle


AQIB ASLAM, University of Cambridge, LUISA CORRADO, University of Rome Tor Vergata and University of Cambridge, and SEAN HOLLY, University of Cambridge--Solution of DSGE Models Through Persistent Excitation


MICHEL JUILLARD, Paris School of Economics--DYNARE: A Toolbox for the Solution and Estimation of DSGE Models


Discussants: ROBERT TETLOW, Federal Reserve Board

LAWRENCE CHRISTIANO, Northwestern University

GARY S. ANDERSON, Federal Reserve Board



Jan. 5, 2:30



The Distinguished Lecture on Economics in Government


Presiding: JONATHAN A. SCHWABISH, Congressional Budget Office


      PETER ORSZAG, Director, Congressional Budget Office



Jan. 5, 2:30 pm



E.K. Hunt's Contribution to Radical Economics (Roundtable Discussion) (A1)


Presiding: JUSTIN ELARDO, Ohio State University


      MARK LAUTZENHEISER, Earlham College


      GARY DYMSKI, University of California-Riverside


      ROBERT POLLIN, University of Massachusetts-Amherst


      AL CAMPBELL, University of Utah


      KORKUT ERTURK, University of Utah


      INGRID RIMA, Temple University



Jan. 5, 2:30 pm



Heterodox Macroeconomics (E1)


Presiding: ELLEN FRANK, Rhode Island College


      SIMON MOHUN and ROBERTO VENEZIANI, Queen Mary University of London--Goodwin Cycles in the U.S. and U.K. Economies, 1948-2004


      ERIK OLSEN, University of Missouri-Kansas City--Marxian Social Accounting and Modeling: A Social Accounting Matrix Approach


      RON BAIMAN, Loyola University Chicago--Down the Tubes We Go: A Detailed Analysis of the 2001-2006 Economic Expansion in Illinois and What It Portends for the Future of the U.S. Economy


      TERRENCE MCDONOUGH, University of Ireland-Galway, and DAVID M. KOTZ, University of Massachusetts-Amherst--National Global Neoliberalism and the Contemporary Social Structure of Accumulation


Discussants: ELLEN FRANK, Rhode Island College

      HOWARD PETITH, Universitat Autónoma de Barcelona



Jan. 5, 4:40 pm



Presidential Address


Presiding: AVINASH DIXIT, Princeton University


      THOMAS J. SARGENT, New York University



Jan. 5, 5:15 pm



Annual Membership Meeting and Presidential Address



Jan. 5, 5:30 pm



Business Meeting and Presidential Address



Jan. 5, 6:00 pm



Business Meeting



Jan. 5, 7:00 pm



Presidential Address and Reception




Sunday, January 6, 2008


Jan. 6, 8:00 am



Height, Health and Economic Development


Presiding: ANNE CASE, Princeton University


ANNE CASE and CHRISTINA PAXSON, Princeton University--Height and Cognitive Function


ANGUS DEATON, Princeton University--On Heights and Health


FRANCO PERACCHI and GIOVANNI VECCHI, Universita di Roma, and BRIAN A'HEARN, Franklin and Marshall College--Inequality in Height and Inequality in Living Standards: Historical Evidence from Italy


Discussant: JANET CURRIE, Columbia University



Jan. 6, 8:00 am



Price Manipulation in Financial Markets


Presiding:  SHMUEL BARUCH, University of Utah


ALBERT S. KYLE, University of Maryland, and VISH VISWANATHAN, Duke University--How to Define Illegal Price Manipulation


BILGE YILMAZ, University of Pennsylvania, and ARCHISHMAN CHAKRABORTY, Baruch College, City University of New York--Microstructure Bluffing


AILSA ROELL, Columbia University and LIN PENG, Baruch College, City University of New York--Managerial Incentives and Stock Price Manipulation


Discussants:  ALEX EDMANS, University of Pennsylvania

JENNIFER HUANG, University of Texas

MATTHEW PRITSKER, Federal Reserve Board



Jan. 6, 8:00 am



Student Incentives in Action: Experimental Evidence from Offering Money for Educational Achievement (I2)


Presiding: JOSHUA ANGRIST, Massachusetts Institute of Technology


ERIC BETTINGER, Case Western Reserve University--Paying to Learn: The Effects of Financial Incentives on Elementary School Test Scores


ROLAND FRYER, Harvard University--Incentivising: An Intuitive Approach to Raising Achievement


JOSHUA ANGRIST, Massachusetts Institute Of Technology, DANIEL LANG, and PHILIP OREOPOULOS, University of Toronto--Lead Them to Water and Pay Them to Drink: An Experiment with Services and Incentives for College Achievement


CECILIA ROUSE, Princeton University--The Effect of Financial Incentives on Community College Attainment: Evidence from Opening Doors


Discussants: VICTOR LAVY, Hebrew University

SUSAN DYNARSKI, Harvard University

CAROLINE HOXBY, Harvard University

MICHAEL KREMER, Harvard University



Jan. 6, 8:00 am



Applications of Recent Methodology in Project Evaluation


Presiding: CHRISTOPHER TABER, Northwestern University


JOSEPH ALTONJI, Yale University, TODD ELDER, Michigan State University, and CHRISTOPHER TABER, Northwestern University--Using Selection on Observed Variables to Assess Bias from Unobservables when Evaluating Swan-Ganz Catheterization


JAY BHATTACHARYA, Stanford University, AZEEM SHAIKH, Yale University, and EDWARD VYTLACIL, Columbia University--Exploiting Instrumental Variables to Bound the Effect of Swan-Ganz Catheterization


QI LI, Texas A&M University, JEFF RACINE, McMaster University, and JEFFREY WOOLDRIDGE, Michigan State University--Estimating Average Treatment Effects with Continuous and Discrete Covariates


Discussants: JOSEPH HOTZ, Duke University

ALBERTO ABADIE, Harvard University



Jan. 6, 8:00 am



New Comparative Economic History


Presiding: ALAN M. TAYLOR, University of California-Davis


GREGORY CLARK, University of California-Davis, KEVIN H. O'ROURKE, Trinity College, Dublin, and ALAN M. TAYLOR, University of California-Davis--Made in America? The Industrial Revolution and the New World


DAVID S. JACKS, Simon Fraser University, CHRISTOPHER M. MEISSNER, University of California-Davis, and DENNIS NOVY, University of Warwick, UK--Trade Costs, 1870-2000


HANS-JOACHIM VOTH, Pompeu Fabra University, and DENNIS QUINN, Georgetown University--A Century of Global Equity Market Correlations


Discussant: BARRY EICHENGREEN, University of California-Berkeley



Jan. 6, 8:00 am



Epidemiology and Economics (I1)


Presiding: TOMAS PHILIPSON, University of Chicago


SCOTT BARRETT, Johns Hopkins University--The Polio Eradication Game


ROBERT ROWTHORN, RAMANAN LAXMINARYAN, and CHRISTOPHER GILLIGAN, University of Cambridge--Optimal Control of Epidemics in Metapopulations


FLAVIO TOXVAERD, University of Cambridge--The Dynamics of Decentralized Treatment


Discussants: TOMAS PHILIPSON, University of Chicago



Jan. 6, 8:00 am



Health and Economic Outcomes: Linkages across the Life Cycle (I1)


Presiding: HOYT BLEAKLEY, University of Chicago


JOSEPH FERRIE, Northwestern University, KAREN ROLF, University of Nebraska, and WERNER TROESKEN, University of Pittsburgh--"On the Street Where You Live": Effects of a Child's Neighborhood on Later Life Outcomes


DOUGLAS ALMOND, Columbia University, and MICHAEL GREENSTONE, Massachusetts Institute of Technology--U.S. Above-Ground Nuclear Tests of the 1950s and Subsequent Health and Socioeconomic Outcomes


DEAN YANG and  SHARON MACCINI, University of Michigan--Under the Weather: Health, Schooling, and Socioeconomic Consequences of Early-Life Rainfall


HOYT BLEAKLEY, University of Chicago--Malaria in the Americas: A Retrospective Analysis of Childhood Exposure



Jan. 6, 8:00 am



Exchange Rates and Trade Prices in Emerging Markets (F1)


Presiding: FRANK SMETS, European Central Bank


PHILIPPE AGHION, Harvard University, PHILIPPE BACCHETTA, Study Center Gerzensee, ROMAIN RANCIERE, International Monetary Fund, and KENNETH ROGOFF, Harvard University--Exchange Rate Volatility and Productivity Growth: The Role of Financial Development


GUILLERMO CALVO, University of Maryland, ONDRA KAMENIK, Czech National Bank, and MICHAEL KUMHOF, International Monetary Fund--Trade Openness and Monetary Policy Rules


JEFFREY FRANKEL, Harvard University, DAVID PARSLEY, Vanderbilt University,  and SHANG-JIN WEI, International Monetary Fund--Slow Pass-through Around the World: A New Import for Developing Countries?


MATTHIEU BUSSIERE  and TUOMAS PELTONEN, European Central Bank--Pricing to Market in Emerging Markets: The Role of the Exchange Rate Regime


Discussants: PHILIPPE MARTIN, University of Paris I

MARTIN URIBE, Duke University

GRACIELA KAMINSKY, George Washington University

LAURA ALFARO, Harvard Business School



Jan. 6, 8:00 am



Long-Run Risk (G1)


Presiding: STIJN VAN NIEUWERBURGH, New York University


RAVI BANSAL, Duke University--Long-Run Risk in Financial Economics


XIAOHONG CHEN, JACK FAVILUKIS, and SYDNEY LUDVIGSON, New York University--An Estimation of Economic Models with Recursive Preferences


HANNO LUSTIG, University of California-Los Angeles, STIJN VAN NIEUWERBURGH, New York University, and ADRIEN VERDELHAN, Boston University--The Role of the Wealth-Consumption Ratio in Leading Asset Pricing Models


Discussants: RICARDO COLACITO, University of North Carolina-Chapel Hill

DANA KIKU, University of Pennsylvania

LARS P. HANSEN, University of Chicago



Jan. 6, 8:00 am



Product Markets and Corporate Finance (G3)


Presiding: DALIDA KADYRZHANOVA, University of Maryland


GERARD HOBERG, University of Maryland, and GORDON PHILLIPS, University of Maryland and NBER--Real and Financial Industry Booms and Busts


RICHMOND MATHEWS and DAVID ROBINSON, Duke University--Market Structure, Internal Capital Markets, and the Boundaries of the Firm


HEATHER TOOKES and MATTHEW SPIEGEL, Yale University--Dynamic Competition, Innovation and Strategic Financing


ANTONIO FALATO, Federal Reserve Board, and DALIDA KADYRZHANOVA, University of Maryland--Managerial Incentives and Dynamic Competition


Discussants: PAUL POVEL, University of Minnesota

      PAOLO FULGHIERI, University of North Carolina

      VOJISLAV MAKSIMOVIC, University of Maryland

      ALEX EDMANS, University of Pennsylvania



Jan. 6, 8:00 am



International Capital Flows (F3)


Presiding: ASSAF RAZIN, Tel Aviv University and Cornell University


CEDRIC TILLE, Federal Reserve Bank of New Yorkm, and ERIC VAN WINCOOP, University of Virginia--International Capital Flows


MICHAEL DEVEREUX, University of British Columbia, and ALAN SUTHERLAND, University of St. Andrews--Country Portfolio Dynamics


NICOLAS COEURDACIER, ESSEC and Paris School of Economics, ROBERT KOLLMANN, ECARES, Free University of Brussels, and PHILIPPE MARTIN, University of Paris 1 and Paris School of Economics--Return Volatility and International Portfolio Choice


ITAY GOLDSTEIN, University of Pennsylvania, ASSAF RAZIN, Tel Aviv University and Cornell University, and HUI TONG, International Monetary Fund--Portfolio Balance and Reversals of International Capital Stocks: Differences Across Debt and Equity Capital


Discussants: JAUME VENTURA, Universitat Pompeu Fabra

PHILIP LANE, Trinity College Dublin

JONATHAN HEATHCOTE, Georgetown University and Federal Reserve Board

JEAN IMBS, University of Lausanne



Jan. 6, 8:00 am



The Economics of Family and Work (J1)


Presiding: RAQUEL BERNAL, Northwestern University


RAQUEL BERNAL, LUOJIA HU, CHIAKI MORIGUCHI, and EVA NAGYPAL, Northwestern University--The Economic of Child Adoption: Evidence from Micro-level Data


CLAUDIA OLIVETTI, Boston University,  and BARBARA PETRONGOLO, London School of Economics--Gaps across Skills: Selection or Inequality?


ALESSANDRA FOGLI and LAURA VELDKAMP, New York University--Learning and Female Labor Force Participation


JOHN KNOWLES, University of Pennsylvania, MELISSA TARTARI, Yale University, and PETRA TODD, University of Pennsylvania--Explaining Wealth and Consumption Variation over the Life-Cycle and Across Households:  A Dynamic Model of Labor Supply, Savings and Fertility


Discussants:  To be announced.



Jan. 6, 8:00 am



Social Capital, Risk Sharing, and Development


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


AIMEE CHEN, SEBNEM KALEMLI-OZCAN and BENT SORENSEN, University of Houston and NBER--Social Capital and Risk Sharing: Evidence from the U.S.


LUIGI GUISO, European University Institute and CEPR, PAOLA SAPIENZA, Northwestern University and CEPR, and LUIGI ZINGALES, University of Chicago and NBER and CEPR--Testing Putnam


CHARLOTTE OSTERGAARD, IBOLYA SCHINDELE, Norwegian School of Management, and BENT VALE, Norwegian Central Bank--Social Capital and Regionality in Financial Intermediation: Evidence from Norwegian Banking


ASHLEY LESTER, KAIVAN MUNSHI, Brown University, and MARK ROSENZWEIG, Yale University and NBER--Identity, Interest and Commitment: Voting in Indian Panchayat Elections


Discussants:  RAQUEL FERNANDEZ, New York University and NBER

FRANCESCO GIAVAZZI, University of Bocconi, NBER, and CEPR

MARK SPIEGEL, Federal Reserve Bank of San Francisco

CHRISTOPHER UDRY, Yale University and NBER



Jan. 6, 8:00 am



Empirical Studies of Household Financial Behavior


Presiding:  DAVID LOVE, Williams College


JASON SELIGMAN and RANA BOSE, University of Georgia--Active Pension Participation and Independent Household Wealth Accumulation


CASEY ROTHSCHILD, Middlebury College--Adverse Selection and the Annuity Puzzle: Evidence from the U.K. Life Annuity Act of 1808


WENDY EDELBERG, MICHAEL PALUMBO, and DAVID REIFSCHNEIDER, Federal Reserve Board-- Financial Innovations and Household Spending Behavior


DAVID LOVE, Williams College, and PAUL SMITH, Federal Reserve Board--Risky Pensions and Household Saving over the Life Cycle


Discussants: SCOTT WEISBENNER, University of Illinois

NORMA COE, Tilburg University

JEFFREY BROWN, University of Illinois

ANNEMARIA LUSARDI, Dartmouth College



Jan. 6, 8:00 am



Trade and Political Economy (F1)


Presiding: PAOLA CONCONI, Universitè Libre de Bruxelles (ECARES) and CEPR


POL ANTRAS, Harvard University, and GERARD PADRO-I-MIQUEL, Stanford University--Foreign Influence and Trade Policy


PAOLA CONCONI, Universitè Libre de Bruxelles (ECARES) and CEPR, GIOVANNI FACCHINI, University of Essex, Universita degli Studi di Milano and CEPR, and MAURIZIO ZANARDI, Tilburg University--Fast Track Authority and International Negotiations


NUNO LIMAO, University of Maryland, and PATRICIA TOVAR-RODRIGUEZ, Brandeis University--The Choice of Inefficient Redistribution Policies in International Trade


WILLIAM HAUK, University of South Carolina--Protection with Many Sellers: An Application to Legislatures with Malapportionment


Discussants: GIOVANNI MAGGI, Yale University

POL ANTRAS, Harvard University

ANDREI LEVCHENKO, International Monetary Fund

DEVASHISH MITRA, Syracuse University



Jan. 6, 8:00 am



The Causes and Consequences of Medical Innovation


Presiding: RENA CONTI, University of Chicago


PARIS CLEANTHOUS, New York University, WONJOON KIM, Korea Advanced Institute of Science & Technology and Yale University, DICK WITTINK, Yale University--Pharmaceutical Firms' Strategic Innovation Decisions and Patients' Welfare Dynamics: Innovate or Imitate?


JUAN CONTRERAS, Congressional Budget Office, BEOMSOO KIM, University of North Carolina-Greensboro, and IGNEZ TRISTAO, Congressional Budget Office--Does Experience Make Better Doctors?  Experience from LASIK Eye Surgeries


RENA CONTI, University of Chicago--The Economic Value of New Treatments for Depression


BO MACINNIS, University of Michigan--Taking Pills to Work: Are Chronically Ill Middle-Aged Men Made Better Off in Labor Markets by Medical Innovations?


Discussants: To be announced.



Jan. 6, 8:00 am



Marriage, Divorce, and Fertility


Presiding: LISA GIDDINGS, University of Wisconsin-LaCrosse


KASEY BUCKLES, University of Notre Dame--Understanding the Returns to Delayed Childbearing for Working Women


KRISTIN MAMMEN, Barnard College, Columbia University--The Effects of Children's Gender on Living Arrangements and Child Support


BETSEY STEVENSON, University of Pennsylvania--Divorce-Law Changes, Household Bargaining, and Married Women's Labor Supply Revisited


JUNGMIN LEE, Florida International University and IZA, and AMY FARMER, University of Arkansas-Fayetteville--Infertility and Female Labor Supply


Discussants: JOYCE P. JACOBSEN, Wesleyan University

LISA GIDDINGS, University of Wisconsin-LaCrosse

SHELLY LUNDBERG, University of Washington

LUCIE SCHMIDT, Williams College



Jan. 6, 8:00 am



The Output of Banking and Finance


Presiding: J. STEVEN LANDEFELD, Director, Bureau of Economic Analysis


DENNIS FIXLER, MARSHALL REINSDORF, and GEORGE SMITH, Bureau of Economic Analysis--New Measures of the Services of Commercial Banks in US GDP


SUSANTO BASU and J. CHRISTINA WANG, Boston College and Federal Reserve Bank of Boston--Technological Progress, "Money" in the Utility Function, and the "User Cost of Money"


ADAM ASHCRAFT, Federal Reserve Bank of New York--Measuring the Contribution of Recent Financial Innovations in the National Accounts


Discussants: DIANA HANCOCK, Federal Reserve Board

ERWIN DIEWERT, University of British Columbia

TIMOTHY KOCH, University of South Carolina



Jan. 6, 8:00 am



Computer Assisted Instruction: Making Technology Effective in Principles Courses


Presiding:  BETTY J. BLECHA, San Francisco State University


JOSEPH PALARDY, KRISS SCHUELLER, and TOD PORTER, Youngstown State University-- Macropolicy: Simulation Software for Principles of Macroeconomics


MICHAEL SALEMI, University of North Carolina-Chapel Hill-- Large Principles Sections and Clicker Technology

STUART ALLEN and JEFF K. SARBAUM, University of North Carolina-Greensboro-- Principles of Economics as a Game

COLE R. GUSTAFSON, North Dakota State University--The Efficacy of Technology in Online and Conventional Principles Courses


Discussants: SHERYL BALL, Virginia Tech University
DANIEL A. TALLEY, South Dakota State University



Jan. 6, 8:00 am



History and Significance of ASSA: The Allied Social Science Association since the 1930s (A1)


Presiding: WILFRED DOLFSMA, University of Groningen


JOHN SIEGFRIED, Vanderbilt University


MICHAEL BERNSTEIN, Tulane University


BETSY JANE CLARY, College of Charleston


Discussants: DEIRDRE MCCLOSKEY, University of Illinois-Chicago



Jan. 6, 8:00 am



Network Neutrality


Presiding: CHRISTIAAN HOGENDORN, Wesleyan University


GERRY FAULHABER, University of Pennsylvania--Net Neutrality: The Core of the Debate


SIMON WILKIE, University of Southern California--Principles for Network Neutrality


ELI NOAM, Columbia University--Net Neutrality in Practice


Discussants: SHANE GREENSTEIN, Northwestern University

MARTIN PERRY, Rutgers University

JOHN  MAYO, Georgetown University



Jan. 6, 8:00 am



Technology, Skewness and Stock Returns


Presiding: JONATHAN LEWELLEN, Dartmouth College


PAUL PO-HSUAN HSU, University of Connecticut--Aggregate Technology Shocks, Market Returns, and Market Premiums


ROBIN MARC GREENWOOD, Harvard Business School, and STEFAN NAGEL, Stanford University--Inexperienced Investors and Bubbles


LAURA FRIEDER, Purdue University, and GEORGE J. JIANG, University of Arizona--Separating Up from Down: New Evidence on the Idiosyncratic Volatility -- Return Relation


Discussants: DIMITRIS PAPANIKOLAOU, Northwestern University
OWEN LAMONT, Yale School of Management
JOSEPH CHEN, University of Southern California



Jan. 6, 8:00 am



Price (De-)Stabilizing Short Selling


Presiding: LASSE PEDERSEN, New York University


TAL FISHMAN, HARRISON G. HONG, Princeton University, and JEFFREY D. KUBIK, Syracuse University--Do Arbitrageurs Amplify Economic Shocks?


ANDRIY V. SHKILKO, Wilfrid Laurier University, BONNIE F. VAN NESS, and ROBERT A. VAN NESS, University of Mississippi--Predatory Short Selling


ZSUZSA HUSZAR, California State Polytechnic University-Pomona, and BRADFORD D. JORDAN, University of Kentucky--The Good News in Short Interest


PEDRO A.C. SAFFI, University of Navarra, and KARI SIGURDSSON, London Business School--Price Efficiency and Short-Selling


Discussants: DENNIS LASSER, State University of New York-Binghamton
MARKUS BRUNNERMEIER, Princeton University
NICOLAE GARLEANU, University of Pennsylvania
RONNIE SADKA, University of Washington



Jan. 6, 8:00 am



Venture Capital and Private Equity

Presiding: PER STRÖMBERG, Swedish Institute for Financial Research


MORTEN SORENSEN, University of Chicago--Learning by Investing: Evidence from Venture Capital


PAUL A. GOMPERS and YUHAI XUAN, Harvard Business School--The Role of Venture Capitalists in the Acquisition of Private Companies


ALEXANDER LJUNGQVIST, MATTHEW P. RICHARDSON, and DANIEL WOLFENZON, New York University--The Investment Behavior of Buyout Funds: Theory and Evidence


JOOST DRIESSEN, TSE-CHUN LIN, and LUDOVIC PHALIPPOU, University of Amsterdam--Estimating the Risk Exposure of Private Equity Funds: A New Methodology


Discussants: BURTON HOLLIFIELD, Carnegie Mellon University
OLA BENGTSSON, Cornell University
ULF AXELSON, Swedish Institute for Financial Research
MAGNUS DAHLQUIST, Swedish Institute for Financial Research



Jan. 6, 8:00 am



Bond Risk Premiums


Presiding: KENNETH SINGLETON, Stanford University


DIMITRI VAYANOS, London School of Economics & Political Science, and JEAN-LUC VILA, Merrill Lynch & Co.--A Preferred-Habitat Model of the Term Structure of Interest Rates


STEFANIA D'AMICO, Federal Reserve Board, DON H. KIM, and MIN WEI, Government of the United States of America--Tips from Tips: The Informational Content of Treasury Inflation-Protected Security Prices


MAXIM Ulrich, Goethe University Frankfurt--Model Uncertainty and Term Premia on Nominal Bonds


Discussants: JUN LIU, University of California-San Diego
GREGORY DUFFEE, University of California-Berkeley
SCOTT JOSLIN, Massachusetts Institute of Technology



Jan. 6, 8:00 am



Corporate Governance

Presiding: ALEXANDER DYCK, University of Toronto


TIM JENKINSON and TARUN RAMADORAI, University of Oxford--Do Investors Value High Levels of Regulation?


VALENTINA GIULIA BRUNO, American University, and STIJN CLAESSENS, International Monetary Fund--Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?


JOSEPH P.H. FAN, Chinese University of Hong Kong, JUN HUANG, Shanghai University of Finance & Economics, RANDALL MORCK, University of Alberta, and BERNARD YIN YEUNG, New York University--Institutional Determinants of Vertical Integration: Evidence from China


Discussants: CHRISTIAN LEUZ, University of Chicago
CRAIG DOIDGE, University of Toronto
FRANKLIN ALLEN, University of Pennsylvania



Jan. 6, 8:00 am



Housing Market Theory (R3)


Presiding: ROBERT H. EDELSTEIN, University of California-Berkeley


JAMES FOLLAIN, James R. Follain LLC, and SETH GIERTZ, Congressional Budget Office--A Panel Study of House Prices, Employment, and the Interest Rates


PAUL ANGLIN, University of Guelph--An Empirical Study of Local Dynamics and Contagion in Real Estate Markets


DANNY BEN-SHAHAR and EYAL SULGANIK, Technion Israel Institute of Technology--How Do We Determine Which Housing Market Allows for Greater Mobility?


LU HAN, University of Toronto--The Volatility Feedback Effects in Housing Markets


Discussants: STUART GABRIEL, University of California-Los Angeles

      DESMOND TSANG, McGill University

THOMAS DAVIDOFF, University of California-Berkeley

GERD WELKE, Baruch College, City University of New York


Jan. 6, 8:00 am



REITs  (G1)


Presiding: BRADFORD CASE, National Association of Real Estate Investment Trusts


TOBIAS MÜHLHOFER, Indiana University, JAY HARTZELL, and SHERIDAN TITMAN, University of Texas-Austin--Alternative Benchmarks for Evaluating REIT Mutual Fund Performance


WALTER I. BOUDRY, University of North Carolina-Chapel Hill, JARL G. KALLBERG, Thunderbird School of Global Management, and Crocker H Liu, Arizona State University--An Analysis of REIT Security Issuance Decisions


PETER LIU, ROBERT H. EDELSTEIN, University of California-Berkeley, and DESMOND TSANG, McGill University--Can Investors Profit from Voluntary Accounting Information?


RUSSELL M. PRICE, Howard University, and BRADFORD CASE, National Association of Real Estate Investment Trusts--NAV, Investor Sentiment and Risk: The Case of REITs


Discussants:  LIANG PENG, University of Colorado-Boulder
 BRENT AMBROSE, Pennsylvania State University
 DAVID DOWNS, Virginia Commonwealth University
 BOB CONNOLLY, University of North Carolina



Jan. 6, 8:00 am



Institutional Variation within Large Countries: Causes and Consequences (P1)


Presiding: SIMON JOHNSON, Massachusetts Institute of Technology and International Monetary Fund


      DANIEL BERKOWITZ and KAREN CLAY, University of Pittsburgh--Legal Origins and the Evolution of Institutions: Evidence from American State Courts


      JOANA NARITOMI, RODRIGO SOARES, and JULIANO ASSUNCAO, University of Maryland--Rent-Seeking and the Unveiling of 'De Facto' Institutions: Development and Colonial Heritage within Brazil


      MARIO GAMBOA-CAVAZOS, VIDAL GARZA-CANTU, and EMILIANO SALINAS, Instituto Tecnológico de Estudios Superiores de Monterrey, Mexico--The Organization of Corruption: Political Horizons and Special Interests


      WILLIAM PYLE, Middlebury College--Democracy, Organized Business and Property Rights Across the Russian Federation


Discussants: ALBERTO DIAZ-CAYEROS, Stanford University

      KRIS MITCHENER, Santa Clara University

      PETER MURRELL, University of Maryland



Jan. 6, 8:00 am



Understanding Environmental Preferences (Q5)


Presiding: SANDRA HOFFMANN, Resources for the Future

DAVID KINGSLEY, University of Colorado-Boulder--The Role of Preference Uncertainty in the Willingness to Pay - Willingness to Accept Disparity: An Experimental Test


DEBRA ISRAEL, Indiana State University--Gender, Household Decision-Making and Environmental Giving


IKUHO KOCHI, Colorado State University, and LAURA TAYLOR, North Carolina State University--Estimating the Value of a Statistical Life for Heterogeneous Risks in a Revealed Preference Framework


CAMERON SPEIR and AMY ANDO, University of Illinois--Modeling Recreational Anglers' Response to Fish Consumption Advisories Over Time


Discussants: CATHERINE KLING, Iowa State University

SANDRA HOFFMANN, Resources for the Future

J.R. DESHAZO, University of California-Los Angeles

KEN BAERENKLAU, University of California-Riverside



Jan. 6, 8:00 am



Theory and Evidence on Pricing Factors in Asset Markets (G1)


Presiding: NOUR MEDDAHI, Montreal University


ENZO GIACOMINI, and WOLFGANG HÄRDLE, CASE, Humboldt-Universität zu Berlin--Dynamic Factor Models in Risk Preferences Estimation


DENNIS PHILIP, Cass Business School, CHIHWA KAO, Syracuse University, and GIOVANNI URGA, Cass Business School--Testing for Instability in Factor Structure of Yield Curves


SHENG LI and ANDREW PATTON, London School of Economics--Time-Varying Liquidity in Hedge Fund Returns


GEORGE DIACOGIANNIS, University of Piraeus, and DAVID FELDMAN, University of New South Wales--The CAPM Relation For Inefficient Portfolios


BRUNO FEUNOU, Montreal University and CREST, and NOUR MEDDAHI, Imperial College London--Generalized Affine Models



Jan. 6, 8:00 am



Topics in Macro and Growth (E2)


Presiding: OLEKSIY KRYVTSOV, Bank of Canada


MATTEO IACOVIELLO, Boston College, and STEFANO NERI, Bank of Italy--The Role of Housing Collateral in an Estimated Two-Sector Model of the US Economy


KENICHI UEDA, International Monetary Fund--Value of Life and Economic Growth


ANI GUERDJIKOVA and LEVON BARSEGHYAN, Cornell University--Private Incentives versus Class Interests: Implications for Economic Growth


OLEKSIY KRYVTSOV, Bank of Canada, and VIRGILIU MIDRIGAN, New York University and Federal Reserve Bank of Minneapolis--Markups and Inventories in General Equilibrium (S,s) Model



Jan. 6, 8:00 am



Structural Econometrics (C3)


Presiding: ROBERT SAUER, University of Southampton


KENNETH JUDD, Hoover Institution, and CHE-LIN SU, Northwestern University--Constrained Optimization Approaches to Estimation of Structural Models


BO HONORE, Princeton University, and AUREO DE PAULA, University of Pennsylvania--Interdependent Durations


ROBERT MOFFITT, Johns Hopkins University, WEI TAN, State University of New York-Stony Brook, and ZHONG ZHAO, IZA--Weighting for Attrition in Panel Data Structural Models


MICHAEL P. KEANE, University of Technology Sydney, and ROBERT M. SAUER, University of Southampton--Classification Error in Discrete Choice Models: Implications for Female Labor Supply Behavior


Discussants: PATRICK BAJARI, University of Minnesota

ELIE TAMER, Northwestern University

GEERT RIDDER, University of Southern California

JASON ABREVAYA, Purdue University



Jan. 6, 8:00 am



Empirical Industrial Organization II (L1)


Presiding: MO XIAO, University of Arizona


TONG LI, Vanderbilt University, HARRY J. PAARSCH, and TIMOTHY P. HUBBARD, University of Iowa--Semiparametric Estimation in Models of First-Price, Sealed-Bid Auctions with Affiliation


ANDREW SWEETING, Northwestern University--The Costs of Product Repositioning: The Case of Format Switching in the Commercial Radio Industry


AVI GOLDFARB and BOTAO YANG, University of Toronto--Are All Managers Created Equal?


MO XIAO, University of Arizona, and PETER F. ORAZEM, Iowa State University--Entry Threat and Entry Deterrence: The Timing of Broadband Rollout


Discussants: LANIER BENKARD, Stanford University

      MICHAEL MAZZEO, Northwestern University

      FEDERICO CILIBERTO, University of Virginia

      SUDIP GUPTA, Indian School of Business



Jan. 6, 8:00 am



Foundations of Price Formation (D4)


Presiding: XAVIER VIVES, IESE Business School


MARK SATTERTHWAITE and KONSTANTINOS E. ZACHARIADIS, Northwestern University--Interdependent Costs and Values, the Buyers' Bid Double Auction, and the Rate of Convergence to Truth Telling


HUANXING YANG and LIXIN YE--Ohio State University, Search with Learning: Understanding Asymmetric Price Adjustments


ARTYOM SHNEYEROV, University of British Columbia--Bilateral Matching and Bargaining with Private Information


XAVIER VIVES, IESE Business School and UPF--Strategic Supply Function Competition with Private Information


Discussants: ANDREW POSTLEWAITE, University of Pennsylvania

ANDRZEJ SKRZYPACZ, Stanford University

JAN EECKHOUT, University of Pennsylvania

WILLIAM FUCHS, University of Chicago



Jan. 6, 8:00 am



Monetary Economics (E5)


Presiding: BENJAMIN LESTER, University of Pennsylvania


JONATHAN CHIU, and MIGUEL MOLICO, Bank of Canada--Uncertainty, Inflation and Welfare


RICHARD DUTU, Waikato Management School, STELLA HUANGFU, University of Sydney, and BENOIT JULIEN, University of New South Wales--Money, Capital and Unemployment


ALEKSANDER BERENTSEN, University of Basel, and CHRISTOPHER WALLER, University of Notre Dame--Optimal Stabilization Policy with Endogenous Firm Entry


ALLEN HEAD and JUNFENG QIU, Queen's University--Elastic Money, Inflation, and Interest Rate Policy


Discussants: S. BORAGAN ARUOBA, University of Maryland

LING SUN, University of Toronto

VERONICA GUERRIERI, University of Chicago

BENJAMIN LESTER, University of Pennsylvania



Jan. 6, 8:00 am



Health Insurance and Incentives


Presiding: RANDALL P. ELLIS, Boston University


      M. KATE BUNDORF and JONATHAN LEVIN, Stanford University--Pricing Health Insurance: The Efficiency Implications of Heterogeneous Risks and Preferences


GEIR GODAGER, TOR IVERSEN, University of Oslo, and CHING-TO ALBERT MA, Boston University--Service Motives and Profit Incentives among Physicians


RANDALL P. ELLIS, Boston University, and WILLARD G. MANNING, University of Chicago--Optimal Health Insurance for Prevention and Treatment


Discussants: AMY FINKELSTEIN, Massachusetts Institute of Technology

DANA GOLDMAN, Rand Corporation

W. DAVID BRADFORD, Medical University of South Carolina



Jan. 6, 8:00 am



The Gloves-Off Economy: Problems and Possibilities at the Bottom of America's

Labor Market


Presiding: ANNETTE BERNHARDT, New York University School of Law


      CHRIS TILLY, University of Massachusetts--An Introduction and Overview of the "Gloves-Off Economy"


      LAURA DRESSER, University of Wisconsin-Madison--Caring and Cleaning in the Home: Intimate and Isolated but not Immutable


      NIK THEODORE and JAMIE PECK, University of Illinois-Chicago--Remaking Temporary Work


      DAVID WEIL, Boston University--Of High Roads and Low Roads: Understanding the Political Economy of Workplace Regulations


Discussants: RUTH MILKMAN, University of California-Los Angeles

      MIKE PIORE, Massachusetts Institute of Technology



Jan. 6, 8:00 am



Domestic Partners: Rights, Responsibilities and Benefits in the New

American Workplace


Presiding: MARLENE HEYSER, Workplace Law Strategies

ELLIS MUROV, Esq., Employee Benefits Attorney

SARA ADLER, Arbitrator/Mediator

STEVEN BRIGGS, DePaul University

STEVEN HENDERSON, United Food & Commercial Workers



Jan. 6, 8:00 am



Institutions, Work Organization, Job Quality, and Worker Outcomes in

Retail in the United States and Western Europe


Presiding: EILEEN APPELBAUM, Rutgers University


      SOPHIE PRUNIER-POULMAIRE, PHILIPPE ASKENAZY, and JEAN-BAPTISTE BERRY, University of Paris IX- Nanterre--Working Hard in Large French Retailers

      DOROTHEA VOSS-DAHM, GEOFF MASON, and MATT OSBORNE, Institut Arbet und Teknik--Labor Market Outcomes in Different National Settings:  UK-German Comparison in Retailing


      LARS ESBJERG, KLAUS G. GRUNERT and NUKA BUCK, Aarhus School of Business--Job Satisfaction in  a Low-Wage, Low-Status Industry: The Case of Danish Food Retailing


FRANÇOISE CARRÉ, CHRIS TILLY, BRANDYN HOLGATE, and PHILIP MOSS, University of Massachusetts-Boston--Possibilities for Improving Service and Job Quality in US Food and Consumer Electronics Retail


Discussants: BARBARA GILBERT CHEN, Food and Commercial Workers International Union



Jan. 6, 8:00 am



Heterodox Development Economics (O1)


Presiding: CAMERON WEBER, New School for Social Research


T. KRISHNA KUMAR, Indian Institute of Management, India, and SUSHANTA MALLICK, Queen Mary-University of London--Estimating Consumption Deprivation in India Using Survey Data


OMAR DAHI, Hampshire College, and FIRAT DEMIR, University of Oklahoma--Asymmetric Effects of Financial Sector Development on North-South and South-South Trade: Evidence from South American Countries


TIM KOECHLIN, Vassar College, and MEHRENE LARUDEE, DePaul University--Wages, Productivity and Foreign Direct Investment Flows: An Empirical Assessment of the 'Pauper Labor Argument'


LEANNE USSHER, Queens College, City University of New York--International Price Stability, Full Employment and Global Balances: The Case for A Commodity Reserve Currency


FADHEL KABOUB, Drew University--Elements of a Radical Counter-Movement to Neoliberalism


Discussants: CAMERON WEBER, New School for Social Research

MWANGI WA GITHINJI, University of Massachusetts-Amherst



Jan. 6, 8:00 am



The Economy and Planning in Cuba Today (O5)


Presiding: FRANK THOMPSON, University of Michigan-Ann Arbor


      AL CAMPBELL, University of Utah--The Cuban Economy: Continuity, Change and Performance


      REMY HERRERA, University of Paris I--Contemporary Planning in Cuba


      SINAN KOONT, Dickinson College--A Cuban Success Story: Urban Agriculture


      ISAAC SANEY, Dalhousie University and Saint Mary's University, Canada--Race, Inequality & Revolution: Lessons from Cuba


Discussants: ROSE MARIA MARQUEZ, Pontifica Universidade Catolica de Sao Paolo

      FRANK THOMPSON, University of Michigan-Ann Arbor



Jan. 6, 10:15 am



Assets and Credit Among Low-Income Households


Presiding: REBECCA BLANK, University of Michigan


RAPHAEL BOSTIC, University of Southern California--Mortgages, Risk, and Homeownership among Low- and Moderate-Income Families


KERWIN CHARLES, University of Chicago, MEL STEPHENS, Carnegie Mellon University, and BENJAMIN KEYS, University of Michigan--Differential Credit Market Use for Car Purchases by Income Level


PETER TUFANO, Harvard University--Saving While Gambling:  An Empirical Analysis of UK Premium Bonds


Discussants: EDGAR OLSEN, University of Virginia

ANNAMARIA LUSARDI, Dartmouth College

OLIVIA MITCHELL, University of Pennsylvania



Jan. 6, 10:15 am



Work Incentives, Motivation, and Identity


Presiding: RACHEL KRANTON, University of Maryland


CANICE PRENDERGAST, University of Chicago--Bureaucratic Conflict


TIMOTHY BESLEY and MAITREESH GHATAK, London School of Economics--Investing in Motivation


GEORGE AKERLOF, University of California-Berkeley, and RACHEL KRANTON, University of Maryland--Whistleblowing and Sabotage: Loyalty and Work Group Identity


Discussant: ROBERT GIBBONS, Massachusetts Institute of Technology



Jan. 6, 10:15 am



The Economics of Conflict and Nation-Building (H5)


Presiding: SHARUN MUKAND, Tufts University


EDWARD GLAESER, Harvard University--The Political Economy of Warfare


SUMON MAJUMDAR, Queen's University, and SHARUN MUKAND, Tufts University--The Ballot and the Plough in Nation-Building


ELI BERMAN, University of California-San Diego, and DAVID LAITIN, Stanford University--Hard Targets: Theory and Evidence on Suicide Attacks


Discussants: ENRICO SPOLAORE, Tufts University

DANIELE PASERMAN, Hebrew University

GERARD PADRO I MIQUEL, Stanford University



Jan. 6, 10:15 am



The Behavioral Economics of Choice and the Shaping of Policy (D7)


Presiding: JEFFREY KLING, Brookings Institution


RICHARD THALER and CASS R. SUNSTEIN, University of Chicago--Choice Architecture: A Strategy for Libertarian Paternalistic Public Policy


WILLIAM GALE, Brookings Institution--Effects of Public Policies on the Disposition of Lump-Sum Distributions: Rational and Behavioral Influences


JEFFREY KLING, Brookings Institution, SENDHIL MULLAINATHAN, Harvard University, and ELDAR SHAFIR, Princeton University--Harnessing Market Forces not Market Complexity


Discussants: DAVID LAIBSON, Harvard University

DRAZEN PRELEC, Massachusetts Institute of Technology

STEFANO DELLAVIGNA, University of California-Berkeley



Jan. 6, 10:15, am



Economics of Terrorism (D0)


Presiding: WALTER ENDERS, University of Alabama


KEVIN SIQUEIRA and TODD SANDLER, University of Texas-Dallas--Terrorist Backlash, Terrorism Mitigation, and Policy Delegation


HOWARD KUNREUTHER and ERWANN MICHEL-KERJAN, University of Pennsylvania--The Economics of Security Externalities


HAMID MOHTADI, University of Wisconsin-Milwaukee--Optimal Security Investments and Catastrophic Terrorism


Discussants: LARRY SAMUELSON, University of Wisconsin-Madison

DANIEL ARCE, Rhodes College



Jan. 6, 10:15 am



New Perspectives on Financial Globalization


Presiding: JEFFREY FRANKEL, Harvard University


PHILIP LANE, Trinity College, Dublin, and GIAN MARIA MILESI-FERRETTI, International Monetary Fund--What Drives Financial Globalization?


HARALD HAU, INSEAD, and HELENE REY, Princeton University--Home Bias at the Fund Level


CARMEN REINHART, University of Maryland, and KENNETH ROGOFF, Harvard University--Capital Flow Cycles


Discussants: MICHAEL BORDO, Rutgers University

GITA GOPINATH, Harvard University

ALAN TAYLOR, University of California-Davis



Jan. 6, 10:15 am



Structural Reforms and Development (O1)


Presiding: ANNE KRUEGER, Stanford University


RAGHURAM RAJAN, University of Chicago--The Persistence of Underdevelopment: Constituencies and Competitive Rent Preservation


PAOLA GIULIANO, PRACHI MISHRA, DIEGO SCALISE, and ANTONIO SPILIMBERGO, International Monetary Fund--What Determines Structural Reforms in Developing Countries?


THIERRY TRESSEL and ZHIWEI ZHANG, International Monetary Fund--What is the Impact of Structural Policies in Developing Countries?


DAVID HAUNER and ALESSANDRO PRATI, International Monetary Fund--Sequencing Structural Reforms: Do Countries Do As They Are Told?


Discussants: DANI RODRIK, Harvard University

SIMON JOHNSON, Massachusetts Institute of Technology

ALLAN DRAZEN, University of Maryland



Jan. 6, 10:15 am



Effects on Natural and Human Resources of the Rise of Markets in Developing

Countries (O1)


Presiding: MARK PITT, Brown University


ANDREW FOSTER and SHEETAL SEKHRI, Brown University--Water Markets and the Decline of the Water Table in India


ALIX ZWANE, University of California-Berkeley, MICHAEL KREMER, Harvard University, JESSICA LEINO, and EDWARD MIGUEL, University of California-Berkeley--Spring Cleaning: A Randomized Evaluation of Source Water Quality Improvement


MUSHFIQ MOBARAK and MOLLY LIPSCOMB, University of Colorado-Boulder--The Costs of Decentralization: Water Pollution Spillovers from the Re-drawing of County Boundaries in Brazil


NIDHIYA MENON, Brandeis University, and YANA RODGERS, Rutgers University--Gendered Impacts of the Economic Liberalization in India


Discussants: EDWARD MIGUEL, University of California-Berkeley

MUSHFIQ MOBARAK, University of Colorado-Boulder

NIDHIYA MENON, Brandeis University

ANDREW FOSTER, Brown University



Jan. 6, 10:15 am



The Effects of Targeted Financial Incentives on Public-Sector Labor Market Decisions (J2)


Presiding: ERIC HANUSHEK, Hoover Institution, Stanford University


RICHARD MURNANE, JENNIFER STEELE, and JOHN WILLETT, Harvard University--The Effects of Workforce-Contingent Financial Aid on New Teachers' Employment Decisions


ERICA FIELD, Harvard University--Educational Debt Burden and Early Career Choice: Long-Run Evidence from a Financial Aid Experiment