| Cornell University, Federal Reserve Bank of Minneapolis, and University of California, Los Angeles September 30-October 1, 1994 |
|
| Friday, September 30 | |
| Welcome and opening remarks: Art Rolnick | |
| Session 1 | |
| 1:00 p.m. | Chair: Ross Starr |
| “Costly Information Acquisition, Price Volatility, and Efficiency in Competitive Market Games” Matthew O. Jackson and James Peck |
|
| Discussant: Thomas Holmes | |
| “On the Volatility of Equity Prices” Joseph M. Ostroy and Simon M. Potter |
|
| Discussant: William Brock | |
| 3:20 p.m. | Break |
| Session 2 | |
| 3:40 p.m. | Chair: Stefan Krasa |
| "Market Games in the Overlapping Generations Model: Existence and Stationary Equilibria" Aditya Goenka and Steven E. Spear |
|
| Discussant: Russell Cooper | |
| "Financial Intermediation and Regime Switching in Business Cycles" Costas Azariadis and Bruce Smith |
|
| Discussant: Nobu Kiyotaki | |
| 6:00 p.m. | Adjourn |
| 6:15 p.m. | Reception |
| 7:15 p.m. | Dinner |
| Saturday. October 1 | |
| 8:30 a.m. | Continental breakfast |
| Session 3 | |
| 9:00 a.m. | Chair: Caroline Betts |
| "Is Consumption Variability Across Households Consistent with Efficient Credit Allocation? A Preliminary Quantitative Study" Soo Nam Oh and Edward Green |
|
| Discussant: Rao Aiyagari | |
| "Finance and Development: A Factual Study" Ricardo Cavalcanti, Andres Erosa, and Edward Prescott |
|
| Discussant: Ross Levine | |
| 11:20 a.m. | Break |
| Session 4 | |
| 11:40 a.m. | Chair: Scott Freeman |
| "Inside Money, Outside Money and Short Term Interest Rates" V. V. Chari, Lawrence J. Christiano, and Martin Eichenbaum |
|
| Discussant: Christian Gilles | |
| 12:50 p.m. | Lunch |
| 2:00 p.m. | "Sequential Markets and the Suboptimality of the Friedman Rule" Stephen D. Williamson |
| Discussant: Anne Villamil | |
| 3:10 p.m. | Break |
| 3:30 p.m. | Chair: Marcelo Veracierto |
| "Monetary Steady States in a Low Real Interest Rate Economy" James Bullard and Steve Russell |
|
| Discussant: Roger Farmer | |
| "On the Fluctuations Induced by Majority Voting" Gregory W. Huffman |
|
| Discussant: Roberto Chang | |
| 5:50 p.m. | Adjourn |
| 6:00 p.m. | Reception |
| 7:00 p.m. | Dinner |