Program

2019 Liberal Arts Macroeconomics Conference at Macalester College
Preliminary Schedule

All paper sessions will take place in room 200 of the Theater & Dance Building (T&D 200)

TUESDAY AUGUST 6th

8:00am Welcome Remarks

8:15-10:15am Financial Markets (Chair: Liang Ding, Macalester College)

  • “A New Chronology of U.S. Asset Price Bubbles, 1825-1929,” Andrew Jalil, Occidental College.
  • “Aggregate Congressional Trading and Stock Market Returns,” Serkan Karadas, Sewanee—University of the South.
  • “Can Risk Models Extract Inflation Expectations from Financial Market Data? Evidence from the Inflation Protected Securities of Six Countries,” Dan Tortorice, College of the Holy Cross.
  • “Defined benefit pensions, leverage ratios, and investment risk in the Great Recession,” Gretchen Lay, Mount Holyoke College.

10:30-12:30am Banking and Housing (Chair: Allison Luedtke, Saint Michael’s College)

  • “Predatory Lending in a Quantitative Model of Consumer Default,” Seth Neumiller, Wellesley College.
  • “Student Debt and Entrepreneurship: The Effect of Repayment Plans on Entrepreneurial Activity,” Lhakpa Sherpa, Carleton College.
  • “Inequality and the Price Rent Ratio of Housing,” Andrew Gracyk, Wake Forest University.
  • “House Price Uncertainty,” Richard Higgins, Colgate University.
12:30-1:30pm Lunch

1:45-3:15pm Labor (Chair: Edouard Wemy, Clark University)

  • “Elderly Care in an Aging Population and the Female Labor Markets,” Jessie Wang, Furman University.
  • “Skilled Immigration Policy and U.S. Services Offshoring,” Mishita Mehra,” Grinnell College.
  • “International Migration: Unemployment Differences and Costs to Move,” Kristina Sargent, Middlebury College.

3:30-5:30pm Monetary Policy (Chair: Jason Jones, Furman University)

  • “Discount Rates and Monetary Policy,” Julieta Yung, Bates College.
  • “Estimating a Taylor Rule with Variable Selection and Partial Regime Switching,” Adam Check, University of St. Thomas.
  • “Exchange Rates and Monetary Policy When Nontraded Goods are Complements,” Bill Craighead, US Air Force Academy.
  • “The Puzzle of Excessively Low Inflation in Europe,” Sandeep Mazumder, Wake Forest University.

5:30-6:30pm Reception (Lowe Dayton Commons)

6:30-8:30pm Dinner (Lowe Dayton Commons)

Keynote Address: Mark Wright, Senior Vice President and Director of Research, Federal Reserve Bank of Minneapolis, “New Developments in the Way the Fed is Thinking about Monetary Policy.”

WEDNESAY AUGUST 7th

8:00-9:15am Steering Committee/Business Meeting T&D 204

9:30-11:30am Trade and International Firms (Chair: Saif Mehkari, University of Richmond)

  • “Foreign Direct Investment Commitments: Evidence from Middle-Income Economies in Asia,” Abigail Hornstein, Wesleyan University.
  • “Market Institutions and Factor Shares Across Countries,” Brad Sturgill, Sewanee—The University of the South.
  • “Intellectual Property, Tariffs, and International Trade Dynamics,” Andrea Waddle, University of Richmond.
  • “Does Competing with Chinese Products Enhance the Productivity of Surviving Plants? Evidence from the Chilean Manufacturing Sector,” Ivanova Reyes, Gettysburg College.
11:45-1:45pm Lunch/Breakout Teaching Sessions
  • “MMT: it’s less crazy than it sounds,” Mark Kuperberg, Swarthmore College. T&D 213
  • “Preparing Students for Graduate School,” Allison Luedtke, Saint Michael’s College. T&D 206
  • “Writing and Data Analysis in Intermediate Macroeconomics,” Peter Sullivan, Puget Sound University. T&D 204

2-4pm Learning and Forecasting (Chair: Dean Croushore, University of Richmond)

  • “Finite Horizon Life-cycle Learning,” Erin Cottle Hunt, Lafayette College.
  • “Learning to Optimize with News Shocks,” Brian Dombeck, Lewis and Clark College.
  • “Subjective Shadow Rate Beliefs at the Zero Lower Bound,” Ethan Struby, Carleton College.
  • “Forecasting GDP Growth using Disaggregated GDP Revisions,” Tyler Schipper, University of St. Thomas.

Note: We are experimenting with a new format this year and not assigning discussants to each paper.  Instead, the paper presenter will have 22 minutes to present and the final 8 minutes will be open for comments and questions from the other session participants and the audience. We ask all session participants, including the chair, to read the papers and come with comments and questions.

Deadline to send papers to other session participants: July 12, 2019.