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Conference on Monetary Theory and Financial Intermediation

Federal Reserve Bank of Minneapolis
May 17-18, 1991
Friday, May 17
1:00 p.m. N. KiyotakiA. Matsui, and K. Matsuyama
Toward a Theory of International Currency
  Discussant: A. Stockman
2:00 p.m. H. Gintis
“Money in General Equilibrium”
  Discussant: S. R. Aiyagari
3:00 p.m. Break
3:30 p.m. T. KehoeN. Kiyotaki, and R. Wright
“More on Money as a Medium of Exchange”
  Discussant: M. Woodford
4:30 p.m. W. Roberds
Legal Restrictions and Welfare in a Simple Model of Money
  Discussant: N. Wallace
6:00 p.m. Reception
7:00 p.m. Dinner
Saturday, May 18
9:00 a.m. Coffee, rolls, and aspirin
9:30 a.m. F. Allen and D. Gale
“Limited Market Participation and Excess Volatility of Asset Prices”
  Discussant: N. Stokey
10:30 a.m. Break
11:00 a.m. J. Lacker and S. Schreft
Money, Trade Credit, and Asset Prices
  Discussant: E. Green
12:00 p.m. B. ChampB. Smith, and S. Williamson
“Currency Elasticity and Banking Panics: Theory and Evidence”
  Discussant: A. Rolnick
1:00 p.m. Lunch
2:00 p.m. A. BootS. Greenbaum, and A. Thakor
“Reputation and Constructive Ambiguity in Financial Contracting”
  Discussant: B. Prescott
3:00 p.m. A. Prati
“Poincaré’s Stabilization: Stopping a Run on Government Debt”
  Discussant: B. Smith
4:00 p.m. Break
4:30 p.m. M. BordoP. Rappoport, and A. Schwartz
Money Versus Credit: Evidence for the National Banking Era, 1880-1914
  Discussant: R. Lucas
6:00 p.m. Reception