Federal Reserve Bank of Minneapolis and University of Minnesota
May 21–22, 2004
Friday, May 21
| 8:15 | Registration |
| 8:30 | Continental Breakfast |
| 9:00 | Welcome and Opening Remarks Robert Bruininks, President, University of Minnesota |
| Session I: Models of Monetary Economies | |
| Chair: Arthur J. Rolnick, Federal Reserve Bank of Minneapolis |
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| 9:15 | Edward Green (Federal Reserve Bank of Chicago and Pennsylvania State University) and Ruilin Zhou (Federal Reserve Bank of Chicago and Pennsylvania State University) “Money as a Mechanism in a Bewley Economy” [PDF] Discussant: David Levine (University of California, Los Angeles) |
| 10:15 | Break |
| 10:30 | Charles Kahn (University of Illinois), James McAndrews (Federal Reserve Bank of New York) and William Roberds (Federal Reserve Bank of Atlanta) “Money is Privacy” [PDF] Discussant: Akihiko Matsui (University of Tokyo) |
| 11:30 | Peter Howitt (Brown University) “Beyond Search: Fiat Money in Organized Exchange” Discussant: Dean Corbae (University of Texas, Austin) |
| Session II: Monetary Policy | |
| Chair: Karl Shell, Cornell University | |
| 2:15 | Ricardo Lagos (Federal Reserve Bank of Minneapolis and New York University) and Guillaume Rocheteau (Federal Reserve Bank of Cleveland and Australian National University) “Inflation, Output, and Welfare” [PDF] Discussant: Edward Prescott (Federal Reserve Bank of Minneapolis and Arizona State University) |
| 3:15 | Joydeep Bhattacharya (Iowa State University), Joseph Haslag (University of Missouri) and Antoine Martin (Federal Reserve Bank of Kansas City) “Heterogeneity, Redistribution, and the Friedman Rule” Discussant: Peter Ireland (Boston College) |
| 4:15 | Break |
| 4:30 | Nobuhiro Kiyotaki (London School of Economics) and John Moore (Edinburgh University and London School of Economics) “Liquidity and Asset Prices” [PDF] Discussant: Michael Woodford (Princeton University) |
| Saturday, May 22 | |
| 8:30 | Continental Breakfast |
| Session III: Imperfect Information/Participation | |
| Chair: John Kennan, University of Wisconsin | |
| 9:15 | Aleksander Berentsen (University of Basel), Gabriele Camera (Purdue University) and Christopher Waller (University of Notre Dame) “The Distribution of Money Balances and the Non-Neutrality of Money” [PDF] Discussant: S. Williamson (University of Iowa) |
| 10:15 | Break |
| 10:30 | Shouyong Shi (University of Toronto) “Nominal Bonds and Interest Rates: The Case of One-Period Bonds” [PDF] Discussant: Warren Weber (Federal Reserve Bank of Minneapolis and University of Minnesota) |
| 11:30 | Allen Head (Queen’s University) and Alok Kumar ( University of Victoria) “Price Dispersion, Inflation, and Welfare” Discussant: Dale Mortensen (Northwestern University) |
| Session IV: Money and Banking | |
| Chair: John Kareken, University of Minnesota | |
| 2:15 |
Ping He (University of Pennsylvania), |
| 3:15 |
Ricardo Cavalcanti (Getulio Vargas Foundation), |
| 4:15 | Break |
| 4:30 | Neil Wallace (Federal Reserve Bank of Minneapolis and Pennsylvania State University) “From Private Banking to Central Banking: Ingredients of a Welfare Analysis” [PDF] Discussant: Narayana Kocherlakota (Federal Reserve Bank of Minneapolis and Stanford University) |
The Next Generation of Monetary Models, The Region, September 2004
Models of Monetary Economies Proceedings