5th Macroeconomic Policy Research Workshop on Micro Behavior and Monetary Policy
General information
Registration and Hotel reservation form
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Fifth Macroeconomic Policy Research Workshop on
micro behavior and monetary policy
October 26-27, 2006
Organized by the Magyar Nemzeti Bank, in Collaboration with the Centre of Central Banking Studies (CCBS) of the Bank of England
final Program
october 26, Thursday
9:00 – 9:30 Registration
(Magyar Nemzeti Bank, Address: Szabadság Tér 8-9.)
9:30 – 9:40 Welcome address
György Szapáry (Deputy Governor, Magyar Nemzeti Bank)
Session 1
Chair: György Szapáry (MNB)
9:40 – 10:30
Gábor Kátay (Magyar Nemzeti Bank): Estimating aggregate productivity from firm-level data: the case of Hungary (joint with Zoltán Wolf)
Paper
Discussant: Álmos Telegdy (CEU, IE-HAS)
10:30 – 11:20
Phillip Vermeulen (European Central Bank): Real versus financial frictions to capital investment (joint with Nihal Bayraktar and Plutarchos Sakellaris)
Paper
Discussant: Ádám Reiff (MNB)
11:20 – 12:10
Charlotta Groth (Bank of England): Productivity growth, adjustment costs and variable factor utilisation: the UK case (joint with Soledad Nuñez and Sylaja Srinivasan)
Paper
Discussant: Anna Naszódi (MNB)
12:10 – 13:30 Lunch
Session 2
Chair: László Urbán (MNB)
13:30 – 14:20
Keynote Speech
Christopher Pissarides (London School of Economics): Unemployment and Hours of Work: The North Atlantic Divide Revisited
Paper
14:20 – 15:10
Andri Chassamboulli (Magyar Nemzeti Bank and Central European University): Job Competition over the Business Cycle: Implications for Labor Productivity and Unemployment Rates by Skill
Paper
Discussant: Chris Pissarides (LSE)
15:10 – 15:30 Coffee break
Session 3
Chair: John Earle (CEU, Upjohn Institute)
15:30 – 16:20
Jacek Socha (National Bank of Poland): Downwardnominal wage rigidity in Poland and its implications for monetary policy (joint with Michał Brzoza-Brzezina)
Paper
Discussant: István Kónya (MNB, CEU)
16:20 – 17:10
Ana Lamo (European Central Bank): Are specific skills an obstacle to labor market adjustment? Theory and an application to the EU enlargement (joint with Julián Messina and Etienne Wasmer)
Paper
Discussant: Gábor Kézdi (CEU)
19:30 Danube cruise with dinner
october 27, Friday
Session 4
Chair: Julius Horváth (CEU)
9:40 – 10:30
Jeffrey Campbell (Federal Reserve Bank of Chicago): Rigidprices: evidence from U.S. scanner data (joint with Benjamin Eden)
Paper
Discussant: Szabolcs Lőrincz (MNB)
10:30 – 11:20
Emmanuel Dhyne (Banque Nationale de Belgique and Université de Mons-Hainaut): Lumpy price adjustments: a microeconometric analysis (joint with Catherine Fuss, Hashem Pesaran and Patrick Sevestre)
Paper
Discussant: Ágnes Csermely (MNB)
11:20 – 12:10
Keynote Speech
Jordi Gali (Universitat Pompeu Fabra and CREI): A New Keynesian Model with Unemployment
Paper
12:10 – 13:30 Lunch
Session 5
Chair: Péter Benczúr (MNB, CEU)
13:30 – 14:20
Roman Horváth (Czech National Bank and Charles University): Price setting behaviour: micro evidence on Slovakia (joint with Fabrizio Coricelli)
Paper
Discussant: Zoltán Wolf (Tinbergen Institute)
14:20 – 15:10
Benoit Mojon (European Central Bank and Université de la Méditerranée): Fast micro and slow macro: can aggregation explain the persistence of inflation? (joint with Filippo Altissimo and Paolo Zaffaroni)
Paper
Discussant: Balázs Világi (MNB)
15:10 – 15:30 Coffee break
Session 6
Chair: Mihály Kovács (MNB)
15:30 – 16:20
Ansgar Belke (University of Hohenheim): Monetary policy and investment decisions – a stylized treatment of the uncertainty trap (joint with Matthias Göcke)
Paper
Discussant: Viktor Várpalotai (MNB)
16:20 – 17:10
Ádám Reiff (Magyar Nemzeti Bank): Firm-level adjustment costs and aggregate investment dynamics
Paper
Discussant: Phillip Vermeulen (ECB)
17:30 wine tasting
Organising committee:
Andri Chassamboulli (Economics and Research, MNB)
István Kónya (Deputy Head of Research, MNB)