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
Print5th Macroeconomic Policy Research Workshop on Micro Behavior and Monetary Policy
Registration and Hotel reservation form
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)
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)
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)
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
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
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)
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)
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)
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)
Discussant: Ágnes Csermely (MNB)
11:20 – 12:10
Keynote Speech
Jordi Gali (Universitat Pompeu Fabra and CREI): A New Keynesian Model with Unemployment
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)
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)
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)
Discussant: Viktor Várpalotai (MNB)
16:20 – 17:10
Ádám Reiff (Magyar Nemzeti Bank): Firm-level adjustment costs and aggregate investment dynamics
Discussant: Phillip Vermeulen (ECB)
17:30 wine tasting
Organising committee:
Andri Chassamboulli (Economics and Research, MNB)
István Kónya (Deputy Head of Research, MNB)