Sixth Macroeconomic Policy Research Workshop on
Labor Markets, Wage Behavior and Inflation Dynamics
November 29-30, 2007
Organized by the Magyar Nemzeti Bank, in Collaboration with the Eurosystem Wage Dynamics Network
Final Program
November 29, Thursday
12:00 – 13:00 Lunch and Registration
(Magyar Nemzeti Bank, Address: Szabadság tér 8-9.)
13:15 – 13:30 Welcome address
András Simor (Governor, Magyar Nemzeti Bank)
Session 1
Chair: Péter Tabák (Magyar Nemzeti Bank)
13:30 – 14:20
Katarzyna B. Budnik (National Bank of Poland and Warsaw School of Economics), Search Equilibrium with Migration: the Case of Poland
Discussant: Anna Naszódi (Magyar Nemzeti Bank)
14:20 – 15:10
Juan F. Jimeno (Banco de Espana), Does Immigration Affect the Phillips Curve? Some Evidence for Spain (joint with Samuel Bentolila and Juan J. Dolado)
Discussant: Alex Cukierman (Tel Aviv University)
15:10 – 15:30 Coffee break
Session 2
Chair: Frank Smets (European Central Bank)
15:30 – 16:20
Nicolas Groshenny (Bocconi University), An Estimated New-Keynesian Business Cycle Model with Equilibrium
Discussant: Juuso Vanhala (Bank of Finland)
16:20 – 17:10
István Kónya (Magyar Nemzeti Bank and Central European University), An Open Economy DSGE Model with Labor Market Frictions (joint with Zoltán Jakab)
Discussant: Keith Kuester (European Central Bank)
19:30 Danube cruise with dinner
November 30, Friday
Session 3
Chair: Ákos Valentinyi (University of Southampton)
9:20 – 10:10
Alessia Campolmi (Magyar Nemzeti Bank and Central European University), Labor Market Institutions and Inflation Volatility in the Euro Area(joint with Ester Faia)
Discussant: Fabio Rumler (Oesterreichische Nationalbank)
10:10 – 11:00
David M. Arseneau (Federal Reserve Board), Optimal Fiscal and Monetary Policy with Costly Wage Bargaining(joint with Sanjay K. Chugh)
Discussant: Ester Faia (Universitat Pompau Fabra)
11:00 – 11:20 Coffee break
Chair: György Szapáry (Former Vice Governor of Magyar Nemzeti Bank)
11:20 – 12:10
Keynote Speech
Robert Hall (Stanford University), Five Years of Progress in Understanding Unemployment and Wage Dynamics
12:10 – 13:30 Lunch
Session 4
Chair: Gábor Oblath (Magyar Nemzeti Bank)
13:30 – 14:20
Antonella Trigari (Bocconi University), An Estimated Monetary DSGE Model with Unemployment and Staggered Nominal Wage Bargaining (joint with Luca Sala and Mark Gertler)
Discussant: Stephen Millard (Bank of England)
14:20 – 15:10
Olivier Pierrard (Banque Centrale du Luxembourg and Université Catholique de Louvain), Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment (joint with Gregory De Walque, Henri R. Sneessens and Raf Wouters)
Discussant: Katalin Szilágyi (Magyar Nemzeti Bank)
15:10 – 15:30 Coffee break
Session 5
Chair: Júlia Király (Vice Governor, Magyar Nemzeti Bank)
15:30 – 16:20
Fredrik Wulfsberg (Norges Bank), How Strong is the Macroeconomic Case for Downward Real Wage Rigidity? (joint with Steinar Holden)
Discussant: Attila Rátfai (Central European University)
16:20 – 17:10
Christian Haefke (Institute for Advanced Studies Vienna), Wage Rigidity and Job Creation (joint with Marcus Sonntag and Thijs van Rens)
Discussant: Ádám Reiff (Magyar Nemzeti Bank)
17:30 Wine tasting
Organizing committee:
István Kónya (MNB)
Ádám Reiff ( MNB)
Frank Smets (ECB)