Bank Hosted Events

Research and Policy: A Golden Minnesota Partnership

To be held at the Federal Reserve Bank of Minneapolis and at the University of Minnesota, August 21, 22, and 23, 2019

Published August 21, 2019


This conference will honor the remarkable relationship between the Federal Reserve Bank of Minneapolis and the University of Minnesota.

Here’s the current agenda, with the complete set of academic panels and participants.


Wednesday, August 21
Federal Reserve Bank of Minneapolis
5:00 p.m. – 5:30 p.m.

Welcome reception

5:30 p.m. – 6:45 p.m.

How Economic Research Informs Policy

Welcome: Sri Zaheer, member of the Minneapolis Fed’s board of directors and dean of the University of Minnesota’s Carlson School of Management
Moderator: Neel Kashkari, president, Federal Reserve Bank of Minneapolis
Lars Peter Hansen, University of Chicago
Finn E. Kydland, University of California, Santa Barbara
Nancy L. Stokey, University of Chicago
Robert M. Townsend, Massachusetts Institute of Technology

6:45 p.m. – 7:30 p.m.


Thursday, August 22
University of Minnesota, Carlson School of Management, 3M Auditorium
8:30 a.m. – 9:00 a.m.


9:00 a.m. – 9:05 a.m.


9:05 a.m. – 9:55 a.m.

The End of the American Dream? Inequality and Segregation in U.S. Cities

Veronica Guerrieri, University of Chicago
Discussant: Lee E. Ohanian, UCLA

9:55 a.m. – 10:45 a.m.

Money and Banking in a New Keynesian Model

Monika Piazzesi, Stanford
Discussant: Stephen Williamson, University of Western Ontario

10:45 a.m. – 11:00 a.m.


11:00 a.m. – 11:50 a.m.

Distortions in Production Networks

Jennifer La’O, Columbia
Discussant: Martin Schneider, Stanford

11:50 a.m. – 12:40 p.m.

Consumer Surplus of Alternative Payment Methods: Paying Uber with Cash

Fernando Alvarez, University of Chicago
Discussant: Warren Weber, former senior research officer, Federal Reserve Bank of Minneapolis

12:40 p.m. – 1:30 p.m.


1:30 p.m. – 2:30 p.m.

Too Big to Fail: Where Do We Go From Here?

Moderator: Ron J. Feldman, first vice president, Federal Reserve Bank of Minneapolis
Neel Kashkari, president, Federal Reserve Bank of Minneapolis
Gary Stern, former president, Federal Reserve Bank of Minneapolis
Neil Wallace, Penn State University

2:30 p.m. – 2:45 p.m.


2:45 p.m. – 3:25 p.m.

Are Banks Safer?

Andrew Atkeson, UCLA
Discussant: Harold L. Cole, University of Pennsylvania

3:25 p.m. – 4:15 p.m.

The Limits of onetary Economics: On Money as a Medium of Exchange in Near–Cashless Economies

Richard Lagos, New York University
Discussant: Randall Wright, University of Wisconsin–Madison

4:15 p.m. – 5:00 p.m.


5:00 p.m. – 6:30 p.m.

The Four Horsemen of the Economic Revolution

Location: University of Minnesota’s Ted Mann Concert Hall
Moderator: Art Rolnick, University of Minnesota Humphrey School
Edward C. Prescott, Arizona State University
Thomas J. Sargent, New York University
Christopher A. Sims, Princeton University
Neil Wallace, Penn State University

6:30 p.m. – 7:30 p.m.


Friday, August 23
Federal Reserve Bank of Minneapolis
8:30 a.m. – 8:55 a.m.


8:55 a.m. – 9:00 a.m.

Welcome — Mark L.J. Wright, senior vice president and director of Research, Federal Reserve Bank of Minneapolis

9:00 a.m. – 9:50 a.m.

Imperfect Risk–Sharing and the Business Cycle

Luigi Bocola, Stanford
Discussant: Dirk Krueger, University of Pennsylvania

9:50 a.m. – 10:40 a.m.

Financial Dollarization in Emerging Markets: Efficient Risk–Sharing or Prescription for Disaster

Larry Christiano, Northwestern
Discussant: Ayse Imrohoroglu, University of Southern California

10:40 a.m. – 10:50 a.m.


10:50 a.m. – 11:40 a.m.

Hours and Wages

Richard Rogerson, Princeton
Discussant: Gary D. Hansen, UCLA

11:40 a.m. – 11:50 a.m.


11:50 a.m. – 1:30 p.m.

Lunch: A Conversation on Climate Change and Economic Risks

Robert Litterman, Kepos Capital
V. V. Chari, University of Minnesota                       

1:30 p.m. – 1:40 p.m.


1:40 p.m. – 2:30 p.m.

Markups and Inequality

Virgiliu Midrigan, NYU
Discussant: Francisco J. Buera, Washington University in St. Louis

2:30 p.m. – 3:20 p.m.

A Theory of Falling Growth and Rising Rents

Peter J. Klenow, Stanford
Discussant: Samuel S. Kortum, Yale

3:20 p.m. – 3:30 p.m.

Closing — Mark L.J. Wright