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October 26-27, 2006: 5th Macroeconomic Policy Research Workshop on Micro Behavior and Monetary Policy

5th Macroeconomic Policy Research Workshop on Micro Behavior and Monetary Policy

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5th Macroeconomic Policy Research Workshop on Micro Behavior and Monetary Policy

General information

Registration and Hotel reservation form

Map

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 Nunez 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)

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October 4-5, 2002: 1st Workshop on Macroeconomic Policy Research
January 19, 2007 Conference on Inflation Targeting
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October 26-27, 2006: 5th Macroeconomic Policy Research Workshop on Micro Behavior and Monetary Policy
7th Macroeconomic Policy Research Workshop on Productivity, Trade and Development - October 30-31, 2008
October 2-3, 2003: 2nd Workshop on Macroeconomic Policy Research
October 29-30 2004, 3rd Macroeconomic Policy Research Workshop
11th Macroeconomic Policy Research Workshop on: 'Microeconomic behavior and its macro- economic implications during the financial crisis' - September 6-7, 2012
12th EABCN Workshop: 'International Business Cycle – Linkages, Differences and Implications' June 28-29, 2010
February 27-28, 2003: Monetary Strategies for Accession Countries
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November 29-30, 2007: 6th Macroeconomic Policy Research Workshop on Labor markets, wage behavior and inflation dynamics
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