New Approaches to Fiscal Policy - January 8-9, 2010

Sponsored by the Center for Quantitative Economic Research (CQER)

The conference featured a number of papers that examine the effects of fiscal policy. Given the current deep recession and rising government debt, the theme of this conference was more timely and urgent than ever. The goal of the conference was to convene prominent economists to share their perspectives on this important topic.


Friday, January 8, 2010
  Welcome Remarks
John Robertson, Vice President and Senior Economist, Federal Reserve Bank of Atlanta
Session 1 Session Chair
Federico Mandelman, Federal Reserve Bank of Atlanta

"Simple Analytics of the Government Expenditure Multiplier" PDF logo
Michael Woodford, Columbia University

Marco Bassetto, Federal Reserve Bank of Chicago [Presentation] PDF logo

  "Fiscal Stimulus and Distortionary Taxation" PDF logo
Harald Uhlig, University of Chicago

Lars Svensson, Sveriges Riksbank [Presentation] PDF logo
Session 2 Session Chair
Pedro Silos, Federal Reserve Bank of Atlanta

"What Fiscal Policy Is Effective at Zero Interest Rates?"
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Gauti Eggertsson, Federal Reserve Bank of New York

Bruce Preston, Columbia University [Presentation] PDF logo
  "Central Banking in the Credit Turmoil: An Assessment of Federal Reserve Practice" PDF logo
Marvin Goodfriend, Carnegie Mellon [Presentation] PDF logo

V.V. Chari, University of Minnesota [Presentation] PDF logo
Session 3 Session Chair
Lei Fang, Federal Reserve Bank of Atlanta

"Fiscal Policy Can Reduce Unemployment: But There Is a Better Alternative"
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Roger Farmer, University of California, Los Angeles [Presentation]

Mirko Wiederholt, Northwestern University [Presentation] PDF logo
  "Using Stock Returns to Identify Government Spending Shocks" PDF logo
Jonas Fisher and Ryan Peters, Federal Reserve Bank of Chicago

Andrew Levin, Board of Governors [Presentation] PDF logo
Keynote speaker "Fiscal Policy Analysis in the Current Environment"
Alan Auerbach, University of California, Berkeley [Presentation] PDF logo
Saturday, January 9, 2010
Session 4 Session Chair
Juan Rubio-Ramirez, Duke University and Federal Reserve Bank of Atlanta

"Price Level Determination in General Equilibrium"
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Christopher Sims
, Princeton University

Jesus Fernandez-Villaverde, University of Pennsylvania [Presentation] PDF logo
  "New Keynesian versus Old Keynesian Government Spending Multipliers" PDF logo
John Taylor, Stanford University [Presentation] PDF logo

Jesper Lindé, Federal Reserve Board [Presentation] PDF logo
Session 5 Session Chair
Dan Waggoner, Federal Reserve Bank of Atlanta

"When Is the Government Spending Multiplier Large?"
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Larry Christiano, Martin Eichenbaum, and Sergio Rebelo, Northwestern University [Presentation] PDF logo

Nobuhiro Kiyotaki, Princeton University [Presentation] PDF logo