Boston, Massachusetts
January 7–9, 2000

Individual session times are posted below. Initial building and room numbers are listed below but there could be some changes so please verify at the conference.

Posted June 18, 1999. Revised: January 7, 2000.
Send questions/comments to: kahurley@princeton.edu

Friday, January 7, 8:00 AM – 10:00 AM
Environmental Policy Sheraton-Berkeley A
Casual Inference Sheraton-Jefferson
Dynamic Monetary Theory Sheraton-Beacon H
Consumption and the Life Cycle Sheraton-Beacon G
Contractual Enforcement Sheraton-Beacon F
International Trade Theory and Policy Sheraton-Beacon B
Repeated Moral Hazard Sheraton-Beacon C

Friday, January 7, 10:15 AM – 12:15 PM
Health Outcomes for Low-Income Families Sheraton-Jefferson
Estimation Sheraton-Beacon G
New Perspectives on PPP Sheraton-Beacon F
Financial Time Series Sheraton-Beacon C
Markets for Customers Sheraton-Beacon H
Indivisibilities and Markets for Durable Goods Sheraton-Beacon B

Friday, January 7, 2:30 PM – 4:30 PM
State and Local Public Finance Sheraton-Berkeley A
Markets in Developing Countries Sheraton-Jefferson
Growth and Productivity Empirics Sheraton-Beacon G
Cities and the Geography of Employment Sheraton-Beacon F
Organizational Form Under Employee Hold-Up Sheraton-Beacon B
Empirical International Trade Sheraton-Beacon H
Asymmetric Information and Markets Sheraton-Beacon C

Saturday, January 8, 8:00 AM – 10:00 AM
Food Markets and Economic Crises Sheraton-Beacon E
Welfare Programs, Child-Support and Marriage
Monetary Policy and Inflation Dynamics: Theory and Evidence Sheraton-Beacon H
Imperfections in Financial Markets: An International Perspective Sheraton-Beacon G
Long Memory in Financial Time Series Sheraton-Beacon B
Empirical Industrial Organization I Sheraton-Beacon C

Saturday, January 8, 10:15 AM – 12:15 PM
Wage Structure Sheraton-Beacon H
Theoretical Econometrics Sheraton-Beacon F
Time-Inconsistent Preferences In Macroeconomics Sheraton-Beacon C
High Frequency Financial Data Sheraton-Beacon B
Dynamic Oligopoly Sheraton-Beacon G
Experiments in Game Theory Sheraton-Beacon E

Saturday, January 8, 2:30 PM – 4:30 PM
Social Security Sheraton-Kent
Multivariate Models Sheraton-Beacon G
Monetary Policy Sheraton-Beacon E
Unemployment and Unemployment Insurance Sheraton-Beacon C
Contractual Form Sheraton-Beacon B
Electoral Competition Sheraton-Beacon H
Decision Theory Sheraton-Beacon F

Sunday, January 9, 8:00 AM – 10:00 AM
Topics in Public Economics Sheraton-Beacon F
Nonlinear Models Sheraton-Beacon H
Dynamic Macroeconomic Policy Sheraton-Beacon C
Asset Pricing I Sheraton-Beacon B
Product-Quality and Brand-Name Competition Sheraton-Kent
Reputation Sheraton-Beacon G

Sunday, January 9, 10:15 AM – 12:15 PM
Household Organization Sheraton-Kent
Structural Models Sheraton-Hampton A
Firm Heterogeneity Sheraton-Beacon G
Money and Credit Sheraton-Beacon F
Applied Models of Learning Sheraton-Beacon C
Empirical Industrial Organization II Sheraton-Beacon H
Consumer Choice and Dynamic Economies Sheraton-Beacon B

Sunday, January 9, 1:00 PM – 3:00 PM
Institutions and Laws in the Labor Market Sheraton-Beacon G
Inference in Nonstationary Models Sheraton-Beacon H
Regional Fluctuations Sheraton-Beacon C
Asset Pricing II Sheraton-Beacon B
Structure of Firms and Markets Sheraton-Kent
Lobbies and Policies Sheraton-Beacon F

Session Titles
Clicking on session title will automatically scroll down to session information.
Health Outcomes for Low-Income Families Friday, January 7, 10:15 AM – 12:15 PM
Institutions and Laws in the Labor Market Sunday, January 9, 1:00 PM – 3:00 PM
Wage Structure Saturday, January 8, 10:15 AM – 12:15 PM
Welfare Programs, Child-Support and Marriage Saturday, January 8, 8:00 AM – 10:00 AM
Social Security Saturday, January 8, 2:30 PM – 4:30 PM
Environmental Policy Friday, January 7, 8:00 AM – 10:00 AM
State and Local Public Finance Friday, January 7, 2:30 PM – 4:30 PM
Household Organization Sunday, January 9, 10:15 AM – 12:15 PM
Topics in Public Economics Sunday, January 9, 8:00 AM – 10:00 AM
Food Markets and Economic Crises Saturday, January 8, 8:00 AM – 10:00 AM
Markets in Developing Countries Friday, January 7, 2:30 PM – 4:30 PM

Casual Inference Friday, January 7, 8:00 AM – 10:00 AM
Theoretical Econometrics Saturday, January 8, 10:15 AM – 12:15 PM
Structural Models Sunday, January 9, 10:15 AM – 12:15 PM
Estimation Friday, January 7, 10:15 AM – 12:15 PM
Multivariate Models Saturday, January 8, 2:30 PM – 4:30 PM
Inference in Nonstationary Models Sunday, January 9, 1:00 PM – 3:00 PM
Nonlinear Models Sunday, January 9, 8:00 AM – 10:00 AM

Monetary Policy Saturday, January 8, 2:30 PM – 4:30 PM
Dynamic Monetary Theory Friday, January 7, 8:00 AM – 10:00 AM
Monetary Policy and Inflation Dynamics: Theory and Evidence Saturday, January 8, 8:00 AM – 10:00 AM
Regional Fluctuations Sunday, January 9, 1:00 PM – 3:00 PM
New Perspectives on PPP Friday, January 7, 10:15 AM – 12:15 PM
Time-Inconsistent Preferences In Macroeconomics Saturday, January 8, 10:15 AM – 12:15 PM
Firm Heterogeneity Sunday, January 9, 10:15 AM – 12:15 PM
Imperfections in Financial Markets: An International Perspective Saturday, January 8, 8:00 AM – 10:00 AM
Growth and Productivity Empirics Friday, January 7, 2:30 PM – 4:30 PM
Dynamic Macroeconomic Policy Sunday, January 9, 8:00 AM – 10:00 AM
Cities and the Geography of Employment Friday, January 7, 2:30 PM – 4:30 PM
Unemployment and Unemployment Insurance Saturday, January 8, 2:30 PM – 4:30 PM
Consumption and the Life Cycle Friday, January 7, 8:00 AM – 10:00 AM
Money and Credit Sunday, January 9, 10:15 AM – 12:15 PM

Asset Pricing I Sunday, January 9, 8:00 AM – 10:00 AM
Asset Pricing II Sunday, January 9, 1:00 PM – 3:00 PM
Financial Time Series Friday, January 7, 10:15 AM – 12:15 PM
High Frequency Financial Data Saturday, January 8, 10:15 AM – 12:15 PM
Long Memory in Financial Time Series Saturday, January 8, 8:00 AM – 10:00 AM
Contractual Form Saturday, January 8, 2:30 PM – 4:30 PM
Contractual Enforcement Friday, January 7, 8:00 AM – 10:00 AM

Applied Models of Learning Sunday, January 9, 10:15 AM – 12:15 PM
Organizational Form Under Employee Hold-Up Friday, January 7, 2:30 PM – 4:30 PM
Markets for Customers Friday, January 7, 10:15 AM – 12:15 PM
Dynamic Oligopoly Saturday, January 8, 10:15 AM – 12:15 PM
Structure of Firms and Markets Sunday, January 9, 1:00 PM – 3:00 PM
Product-Quality and Brand-Name Competition Sunday, January 9, 8:00 AM – 10:00 AM
Empirical Industrial Organization I Saturday, January 8, 8:00 AM – 10:00 AM
Empirical Industrial Organization II Sunday, January 9, 10:15 AM – 12:15 PM
Empirical International Trade Friday, January 7, 2:30 PM – 4:30 PM

Lobbies and Policies Sunday, January 9, 1:00 PM – 3:00 PM
Electoral Competition Saturday, January 8, 2:30 PM – 4:30 PM
International Trade Theory and Policy Friday, January 7, 8:00 AM – 10:00 AM
Decision Theory Saturday, January 8, 2:30 PM – 4:30 PM
Reputation Sunday, January 9, 8:00 AM – 10:00 AM
Experiments in Game Theory Saturday, January 8, 10:15 AM – 12:15 PM
Repeated Moral Hazard Friday, January 7, 8:00 AM – 10:00 AM
Asymmetric Information and Markets Friday, January 7, 2:30 PM – 4:30 PM
Indivisibilities and Markets for Durable Goods Friday, January 7, 10:15 AM – 12:15 PM
Consumer Choice and Dynamic Economies Sunday, January 9, 10:15 AM – 12:15 PM

Health Outcomes for Low-Income Families
"The Benefits of Prenatal Care: Evidence from the PAT Bus Strike," *William N. Evans and Diana Stech, University of Maryland.
Discussant: Joshua Angrist, Massachusetts Institute of Technology.

"The Impact on Health Outcomes of ‘Moving to Opportunity’ in Boston," Jeffrey Kling, Princeton University.
Discussant: Alberto Abadie, Harvard University.

"Quality Differences in For-Profit and Not-for-Profit Renal Dialysis Facilities: An Application of Propensity Score Methodology," Renee A. Irvin, University of Nebraska-Omaha.
Discussant: Mark McClellan, Stanford University.

"Does Public Health Insurance Lead to More Efficient Hospital Care?," *Leemore Dafny, Massachusetts Institute of Technology; Jonathan Gruber, Massachusetts Institute of Technology and National Bureau of Economic Research.
Discussant: Renee A. Irvin, University of Nebraska-Omaha.

Organizer: Joshua Angrist, Massachusetts Institute of Technology.
Chair: Joshua Angrist, Massachusetts Institute of Technology.

Institutions and Laws in the Labor Market
"Sorting, Quotas, and the Civil Rights Act of 1991: Who Hires When It’s Hard to Fire?," *Paul Oyer and Scott Schaefer, Northwestern University.
Discussant: Thomas Deleire, University of Chicago.

"Outsourcing at Will: Unjust Dismissal Doctrine and the Growth of Temporary Help Employment," David Autor, Massachusetts Institute of Technology.
Discussant: John H. Johnson, University of Illinois-Urbana-Champaign.

"Impact of Overtime Coverage on Public Sector Workers," John H. Johnson, University of Illinois-Urbana-Champaign.
Discussant: David Autor, Massachusetts Institute of Technology.

"Minimum Wages and On-the-job Training," Jörn-Steffen Pischke and Daron Acemoglu, Massachusetts Institute of Technology.
Discussant: Paul Oyer, Northwestern University.

Organizer: Joshua Angrist, Massachusetts Institute of Technology.
Chair: Nicole Fortin, University of British Columbia.

Wage Structure
"What’s Behind the Decline in the Black-White Wage Gap," *Kenneth Couch, University of Connecticut; Mary C. Daly, Federal Reserve Bank of San Francisco.
Discussant: Jörn-Steffen Pischke, Massachusetts Institute of Technology.

"The Dynamics of Self- and Other-Employment and Wages," *Lee Lillard, University of Michigan; Elaine Reardon, Rand.
Discussant: Kenneth Couch, University of Connecticut.

"County-Level Estimates of the Employment Prospects of Low-Skill Workers," David C. Ribar, George Washington University.
Discussant: Bruce Fallick, Federal Reserve Board.

"Has Compensation Become More Flexible?," *Bruce Fallick and Sandra Cannon, Federal Reserve Board; Michael Lettau, Bureau of Labor Statistics.
Discussant: Alan Krueger, Princeton University.

Organizer: Joshua Angrist, Massachusetts Institute of Technology.
Chair: Kenneth Y. Chay, University of California-Berkeley.

Welfare Programs, Child-Support and Marriage
"The Impact of Child Support Enforcement Policy on Non-Marital Childbearing," Irwin Garfinkel, Columbia University; Inhoe Ku and *Robert Plotnick, University of Washington; Sara McLanahan, Princeton University.
Discussant: William N. Evans, University of Maryland.

"Welfare Dynamics under Time Limits," *Jeff Grogger, University of California-Los Angeles; Charles Michalopoulos, Manpower Demonstration Research Corporation.
Discussant: Robert Plotnick, University of Washington.

"Does Variance Matter? The Effect of Rising Male Wage Inequality on Female Age at First Marriage," David S. Loughran, Rand.
Discussant: John H. Johnson, University of Illinois-Urbana-Champaign.

"Geographic Variation in SSI and AFDC Recipiency: What is the Role of Non-Program Factors?," *William Hoyt and Frank Scott, University of Kentucky; W. Hayden Brown, National Institute of Standards and Technology.
Discussant: Aaron Yelowitz, University of California-Los Angeles.

Organizer: Joshua Angrist, Massachusetts Institute of Technology.
Chair: William N. Evans, University of Maryland.

Casual Inference
"When to Control for Covariates: Panel-Asymptotic Results for Estimation of Treatment Effects," *Joshua Angrist, Massachusetts Institute of Technology; Jinyong Hahn, University of Michigan.
Discussant: Rajeev Dehejia, Columbia University.

"Bootstrap Tests for the Effect of a Treatment on the Distribution of An Outcome Variable," Alberto Abadie, Harvard University.
Discussant: Keisuke Hirano, University of California-Los Angeles.

"Local Instrumental Variables Estimation of Treatment Effects," Arild Aakvik, James J. Heckman, and *Edward J. Vytlacil, University of Chicago.
Discussant: Joshua Angrist, Massachusetts Institute of Technology.

"Efficient Estimation of Average Treatment Effects Using the Estimated Propensity Score," *Keisuke Hirano and Guido Imbens, University of California-Los Angeles; Geert Ridder, Johns Hopkins University.
Discussant: Jinyong Hahn, University of Michigan.

Organizer: Guido Imbens, University of California-Los Angeles.
Chair: Joshua Angrist, Massachusetts Institute of Technology.

Theoretical Econometrics
"Inference on Regressions with Interval Data on a Monotone," Charles F. Manski, Northwestern University; *Elie T. Tamer, Princeton University.
Discussant: Aberto Abadie, Harvard University.

"The Large Sample Behavior of the Generalized Method of Moments Estimator in Misspecified Models," *Alastair R. Hall and Atsushi Inoue, North Carolina State University.
Discussant: Jinyong Hahn, University of Michigan.

"How Large is the Bias in Self-Reported Disability?," *John Rust, Yale University and National Bureau of Economic Research; Moshe Buchinsky, Brown University, National Bureau of Economic Research, and Institut National de la Statistique et des Etudes Economiques; Hugo Benitez-Silva, Hiu Man Chan, and Sofia Sheidvasser, Yale University.
Discussant: Wilbert Van Der Klaauw, New York University.

"Nonparametric Censored and Truncated Regression," *Arthur Lewbel, Boston College; Oliver Linton, Yale University.
Discussant: Jack Porter, Harvard University.

Organizer: Guido Imbens, University of California-Los Angeles.
Chair: Jack Porter, Harvard University.

Structural Models
"Estimating a Dynamic Discrete Choice Model of Crime," Susumu Imai, Pennsylvania State University; *Kala Krishna, Pennsylvania State University and National Bureau of Economic Research; Maria Pisu, Center for Disease Control.
Discussant: Robin C. Sickles, Rice University.

"Turning From Crime: An Application of Value Function Approximation in a Dynamic Structural Model," *Jenny Williams, University of Adelaide; Robin C. Sickles, Rice University.
Discussant: Susumu Imai, Pennsylvania State University.

"The Econometrics of Rational Addiction: The Case of Cigarettes," *Badi H. Baltagi and James M. Griffin, Texas A&M University.
Discussant: Elie T. Tamer, Princeton University.

"Games Daughters and Parents Play: Teenage Childbearing, Parental Reputation, and Strategic Transfers," Lingxin Hao, Johns Hopkins University; *V. Joseph Hotz and Ginger Jin, University of California-Los Angeles.
Discussant: Wilbert Van Der Klaauw, New York University.

Organizer: Guido Imbens, University of California-Los Angeles.
Chair: V. Joseph Hotz, University of California-Los Angeles.

Social Security
"Social Security and Demographic Uncertainty: The Risk Sharing Properties of Alternative Policies," Henning Bohn, University of California-Santa Barbara.
Discussant: Liqun Liu, Texas A&M University.

"Social Security Privatization and Aggregate Equity Demand," *James R. Hines Jr., University of Michigan and National Bureau of Economic Research; Austin Nichols, University of Michigan.
Discussant: Andrew Samwick, Dartmouth College.

"Intergenerational Transfers and Longevity Neutrality," *Liqun Liu, Andrew J. Rettenmaier, and Thomas R. Saving, Texas A&M University.
Discussant: Tomas Philipson, University of Chicago.

Organizer: Stephen Coate, Cornell University.
Chair: James R. Hines Jr., University of Michigan and National Bureau of Economic Research.

Environmental Policy
"What to Tax: Emissions or Polluting Goods?," Helmuth Cremer, University of Toulouse; *Firouz Gahvari, University of Illinois-Urbana-Champaign.
Discussant: Roberton C. Williams III, University of Texas-Austin.

"Incentives for Pollution Control: Regulation or (and?) Information," Jerome Foulon, *Paul Lanoie, and Benoit LaPlante, University of Montreal.
Discussant: Arik Levinson, University of Wisconsin-Madison.

"Semi-Parametric Discrete Choice Measures of Willingness to Pay," Ju-Chin Huang, University of New Hampshire.
Discussant: Firouz Gahvari, University of Illinois-Urbana-Champaign.

Organizer: Stephen Coate, Cornell University.
Chair: Roberton C. Williams III, University of Texas-Austin.

State and Local Public Finance
"The Tiebout Hypothesis and Majority Rule: An Empirical Analysis," *Dennis Epple, Carnegie-Mellon University and National Bureau of Economic Research; Holger Sieg, Duke University.
Discussant: Patrick Bayer, Yale University.

"The New Federalism: Distributional Conflict, Voluntarism, and Segregation," *Ignatius J. Horstmann, University of Western Ontario; Kimberley A. Scharf, University of Warwick.
Discussant: Jan K. Brueckner, University of Illinois-Urbana-Champaign.

"Tiebout/Tax-Competition Models," Jan K. Brueckner, University of Illinois-Urbana-Champaign.
Discussant: John D. Wilson, Michigan State University.

Organizer: Stephen Coate, Cornell University.
Chair: John D. Wilson, Michigan State University.

Topics in Public Economics
"The Rise in Old-Age Longevity and the Market for Long-Term Care," *Tomas Philipson and Darius Lakdawalla, University of Chicago.
Discussant: Donald Kenkel, Cornell University.

"The Usual Excess-Burden Approximation Usually Doesn’t Come Close," Lawrence H. Goulder, Stanford University and National Bureau of Economic Research; *Roberton C. Williams III, University of Texas-Austin.
Discussant: Ju-Chin Huang, University of New Hampshire.

"Provision Point Mechanism: A Case of Over Provision of Public Goods," Massimo Morelli and *Lise Vesterlund, Iowa State University.
Discussant: William Harbaugh, University of Oregon.

Organizer: Stephen Coate, Cornell University.
Chair: Lise Vesterlund, Iowa State University.

Household Organization
"Missing Women, the Marriage Market and Economic Growth," *Andrew D. Foster and Mark R. Rosenzweig, Brown University.
Discussant: Emmanuel Skoufias, International Food Policy Research Institute.

"Does Micro-Credit Borrowing Displace Interhousehold Transfers?," *Mark M. Pitt, Brown University; Signe-Mary McKernan, Urban Institute.
Discussant: Anjini Kochar, Stanford University.

"How Hungry is the Selfish Gene?," *Anne Case, I-Fen Lin, and Sara McLanahan, Princeton University.
Discussant: Chris Udry, Yale University.

Organizer: Chris Udry, Yale University.
Chair: Chris Udry, Yale University.

Food Markets and Economic Crises
"Targeting of Food Aid in Rural Ethiopia: Chronic Need or Inertia?," T. S. Jayne, *John Strauss, and Takashi Yamano, Michigan State University.
Discussant: John Hoddinott, International Food Policy Research Institute.

"Household Budgets, Household Composition and the Crisis in Indonesia: Evidence from Longitudinal Household Survey Data," Duncan Thomas, Rand and University of California-Los Angeles; Kathleen Beegle and Elizabeth Frankenberg, Rand; *Graciela Teruel, Universidad Iberoamericana.
Discussant: Chris Paxson, Princeton University.

"Integration of Rice Markets in 18th Century China," Carol Shiue, University of Texas-Austin.
Discussant: John Giles, Michigan State University.

Organizer: Chris Udry, Yale University.
Chair: Chris Paxson, Princeton University.

Markets in Developing Countries
"Sex Workers and the Cost of Safe Sex: The Compensating Differential for Condom Use in Calcutta," *Vijayendra Rao, World Bank; Indrani Gupta, Institute of Economic Growth; Samarajit Jana, All India Institute of Public Health and Hygiene.
Discussant: Anna Paulson, Northwestern University.

"Shadow Wages, Allocative Efficiency, and Labor Supply in Smallholder Agriculture," *Christopher B. Barrett, Cornell University; Shane M. Sherlund, University of Wisconsin-Madison.
Discussant: Andrew D. Foster, Brown University.

"BCCI: Bank Corruption, Collateral and Interventions," Philip Bond, Northwestern University; *Ashok S. Rai, Harvard University.
Discussant: Maitreesh Ghatak, Chicago University.

Organizer: Chris Udry, Yale University.
Chair: Andrew D. Foster, Brown University.

Monetary Policy
"The Quest for Prosperity without Inflation," Athanasios Orphanides, Federal Reserve System.
Discussant: John Taylor, Stanford University.

"Modest Policy Interventions," *Eric Leeper, Indiana University; Tao Zha, Federal Reserve Bank of Atlanta.
Discussant: Martin Eichenbaum, Northwestern University.

"Eurosystem Monetary Targeting: Lessons from U.S. Data," Glenn Rudebusch, Federal Reserve Bank of San Francisco; *Lars Svensson, Stockholm University.
Discussant: Jordi Gali, Universitat Pompeu Fabra.

Organizer: Jordi Gali, Universitat Pompeu Fabra.
Chair: Jordi Gali, Universitat Pompeu Fabra.

Dynamic Monetary Theory
"Chain of Production as a Transmission Mechanism of Monetary Shocks," Kevin X. D. Huang, Utah State University; *Zheng Liu, University of Minnesota.
Discussant: Michael Horvath, Stanford University.

"Inflation, Heterogeneity, and Costly Credit: How Regressive is the Inflation Tax ?," Andres Erosa and *Gustavo Ventura, University of Western Ontario.
Discussant: Zheng Liu, University of Minnesota.

"Monetary Regimes with Public-Private Competition," *Ramon Marimon, European University Institute; Juan Pablo Nicolini, Universidad Torcuato Di Tella; Pedro Teles, Banco de Portugal.
Discussant: Michael Devereux, University of British Columbia.

Organizer: Jordi Gali, Universitat Pompeu Fabra.
Chair: Zheng Liu, University of Minnesota.

Monetary Policy and Inflation Dynamics: Theory and Evidence
"Exact Utilities under Alternative Monetary Rules in a Simple Macro Model with Optimizing Agents," *Dale Henderson, Federal Reserve Board; *Jinill Kim, University of Virginia.
Discussant: Peter N. Ireland, Boston College.

"How Well Does the New-Keynesian Sticky-Price Model Fit the Data?," John M. Roberts, Federal Reserve Board.
Discussant: Argia Sbordone, Rutgers University.

"An Analysis of Disinflation Costs, and its Relevance for Mexico’s Current Disinflation Program," *O. Sanchez and A. M. Werner, Banco de Mexico.
Discussant: Robert Rich, Federal Reserve Bank of New York.

Organizer: Jordi Gali, Universitat Pompeu Fabra.
Chair: Peter N. Ireland, Boston College.

Regional Fluctuations
"Understanding Employment Cycles: Post-War Evidence from U.S. States and Regions," Keith Sill* and Gerald Carlino, Federal Reserve Bank of Philadelphia; Robert Defina, Villanova University.
Discussant: Mark A.Wynne, Federal Reserve Bank of Dallas.

"Monetary Policy, Housing Investment, and Heterogeneous Regional Markets," Michael Fratantoni, Fannie Mae; *Scott Schuh, Federal Reserve Bank of Boston.
Discussant: Keith Sill, Federal Reserve Bank of Philadelphia.

"Dynamic Risk Sharing in the United States and Europe," *Pierfederico Asdrubali, Michigan State University; Soyoung Kim, University of Illinois-Urbana-Champaign.
Discussant: Eric Van Wincoop, Federal Reserve Bank of New York.

Organizer: Jordi Gali, Universitat Pompeu Fabra.
Chair: Eric Van Wincoop, Federal Reserve Bank of New York.

New Perspectives on PPP
"Dispersion in International Prices," *Mario J. Crucini, Vanderbilt University; Chris I. Telmer, Carnegie-Mellon University; Marios Zachariadis, Ohio State University.
Discussant: Holger Wolf, Georgetown University.

"Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies," Jonathan McCarthy, Federal Reserve Bank of New York.
Discussant: Jose Campa, Centro de Estudios Monetarios y Financieros.

"The Welfare Costs of Deviations from the Law of One Price," Charles Engel, University of Washington and National Bureau of Economic Research; *John H. Rogers, Federal Reserve Board.
Discussant: Ken Rogoff, Harvard University.

Organizer: Jordi Gali, Universitat Pompeu Fabra.
Chair: Holger Wolf, Georgetown University.

Time-Inconsistent Preferences In Macroeconomics
"Ignorance is Bliss," *Boyan Jovanovic, New York University; Dmitriy Stolyarov, University of Michigan.
Discussant: Marco Bassetto, Northwestern University.

"Consumption and Savings with Quasi-Hyperbolic Discounting," *Per Krusell, University of Rochester; Anthony A. Smith Jr., Carnegie-Mellon University.
Discussant: Tomoyuki Nakajima, Brown University.

"A Debt Puzzle," *David Laibson and Jeremy Tobacman, Harvard University; Andrea Repetto, Universidad de Chile.
Discussant: Daron Acemoglu, Massachusetts Institute of Technology.

Organizer: Per Krusell, University of Rochester.
Chair: Daron Acemoglu, Massachusetts Institute of Technology.

Firm Heterogeneity
"Optimal Lending Contracts and Firms’ Survival with Moral Hazard," *Gian Luca Clementi and Hugo Hopenhayn, University of Rochester.
Discussant: Alexander Monge, Northwestern University.

"Firm Specific Learning and the Investment Behavior of Large and Small Firms," *Wenli Li and John A. Weinberg, Federal Reserve Bank of Richmond.
Discussant: Joao Gomes, University of Pennsylvania.

"The Boundaries and the Size Distribution of Firms," Masako Ueda, Universitat Pompeu Fabra.
Discussant: Rui Albuquerque, Simon School of Business, University of Rochester.

Organizer: Per Krusell, University of Rochester.
Chair: Rui Albuquerque, Simon School of Business, University of Rochester.

Imperfections in Financial Markets: An International Perspective
"Emerging Markets Crises: An Asset Markets Perspective," Ricardo Caballero, Massachusetts Institute of Technology; *Arvind Krishnamurthy, Northwestern University.
Discussant: Craig Burnside, World Bank.

"Capital Markets and the Instability of Open Economies," Philippe Aghion, University College London and EBRD, *Philippe Bacchetta, Study Center Gerzensee and University of Lausanne, and Abhijit Banerjee, Massachusetts Institute of Technology
Discussant: Martin Gervais, Federal Reserve Bank of Richmond.

"Lending Booms and Speculative Crises," *Martin Schneider, University of Rochester; Aaron Tornell, Harvard University.
Discussant: Annette Vissing-Jorgensen, University of Chicago.

Organizer: Per Krusell, University of Rochester.
Chair: Annette Vissing-Jorgensen, University of Chicago.

Growth and Productivity Empirics
"The Intangible Costs and Benefits of Computer Investments: Evidence from the Financial Markets," *Erik Brynjolfsson and Shinkyu Yang, Massachusetts Institute of Technology.
Discussant: Andreas Hornstein, Federal Reserve Bank of Richmond.

"Computing Productivity: Are Computers Pulling Their Weight?," Erik Brynjolfsson, Massachusetts Institute of Technology; *Lorin M. Hitt, University of Pennsylvania.
Discussant: James Kahn, Federal Reserve Bank of New York.

"Searching for Endogenous Innovation: Evidence of Scale Effects for U.S. States," Norman Sedgley III and *Bruce Elmslie, University of New Hampshire.
Discussant: Nezih Guner, Pennsylvania State University.

Organizer: Per Krusell, University of Rochester.
Chair: Nezih Guner, Pennsylvania State University.

Dynamic Macroeconomic Policy
"Increasing Returns in Effective Labor, Indeterminacy, and Endogenous Growth," Michael Ben-Gad, University of Houston.
Discussant: Paul Klein, Stockholm University.

"Keynesian Conundrum," William Dupor, University of Pennsylvania.
Discussant: Anthony A. Smith Jr., Carnegie-Mellon University.

"On the Determination of Public Debt under Stochastic Interest Rates," Huw Lloyd-Ellis, Shiqiang Zhan, and *Xiaodong Zhu, University of Toronto.
Discussant: Allen Head, Queen's University.

Organizer: Per Krusell, University of Rochester.
Chair: Allen Head, Queen's University.

Cities and the Geography of Employment
"Aggregate Metropolitan Employment Growth and the Deconcentration of Metropolitan Employment," *Gerald A. Carlino and Satyajit Chatterjee, Federal Reserve Bank of Philadelphia.
Discussant: Sukkoo Kim, Washington University.

"Urban Evolution in the USA," *Duncan Black, University of California-Irvine and CORE; Vernon Henderson, Brown University.
Discussant: Edward Glaeser, Harvard University.

"Population Growth in U.S. Counties, 1840–1990," Patricia Beeson, *David DeJong, and Werner Troesken, University of Pittsburgh.
Discussant: Jed Kolko, Harvard University.

"The Rise of American Cities, 1880–1980," Curt Simon, Clemson University.
Discussant: Duncan Black, University of California-Irvine and CORE.

Organizer: Richard Rogerson, University of Pennsylvania.
Chair: Gerald A. Carlino, Federal Reserve Bank of Philadelphia.

Unemployment and Unemployment Insurance
"Productivity Gains from Unemployment Insurance," *Daron Acemoglu, Massachusetts Institute of Technology; Robert Shimer, Princeton University.
Discussant: Ricardo Lagos, London School of Economics.

"Workers, Firms, and New Equipment: A Search Model Analysis," *Andreas Hornstein, Federal Reserve Bank of Richmond; Per Krusell, University of Rochester; Gianluca Violante, University College of London.
Discussant: Boyan Jovanovic, New York University.

"Equilibrium Unemployment Insurance," John Hassler, *Kjetil Storesletten, and Fabrizio Zilibotti, Stockholm University; José V. Rodríguez-Mora, Universitat Pompeu Fabra.
Discussant: Robert Shimer, Princeton University.

Organizer: Richard Rogerson, University of Pennsylvania.
Chair: Kjetil Storesletten, Stockholm University.

Consumption and the Life Cycle
"Consumption over the Life Cycle," Pierre-Olivier Gourinchas and *Jonathan Parker, Princeton University.
Discussant: Jang-Ting Guo, University of California-Riverside.

"Wealth Accumulation over the Life Cycle and Precautionary Savings," Marco Cagetti, University of Chicago.
Discussant: David Andolfatto, University of Waterloo.

"The Effects of Health, Wealth, and Wages on Labor Supply and Retirement Behavior," Eric French, University of Wisconsin-Madison.
Discussant: Morris Davis, Federal Reserve Board.

Organizer: Richard Rogerson, University of Pennsylvania.
Chair: Jonathan Parker, Princeton University.

Money and Credit
"On the Local Interaction of Money and Credit," Yi Jin and *Ted Temzelides, University of Iowa.
Discussant: Dean Corbae, University of Pittsburgh.

"Endogenous Types, Middlemen, and Price Dispersion in an Absence-of-Double-Coincidence Model," Gabriele Camera, Purdue University.
Discussant: Elisabeth Soller Curtis, Drexel University.

"May the Worst Monetary Standard Be the Best? A Reenactment of the ‘Crimes of 1873’," Juan-Manuel Renero, Centro de Investigación y Docencia Económicas.
Discussant: Ricardo Cavalcanti, Pennsylvania State University.

"Dynamic Credit Relationships in General Equilibrium," *Anthony A. Smith Jr. and Cheng Wang, Carnegie-Mellon University.
Discussant: Ted Temzelides, University of Iowa.

Organizer: Richard Rogerson, University of Pennsylvania.
Chair: Gabriele Camera, Purdue University.

Estimation
"Forecasting Dynamic Time Series in the Presence of Deterministic Components," *Tim Vogelsang and Serena Ng, Cornell University.
Discussant: Valentina Corradi, Queen Mary and Westfield College.

"A Comparison of Some Recent Bayesian and Non-Bayesian Procedures for Limited Information Simultaneous Equation Models," Chuanming Gao and *Kajal Lahiri, State University of New York at Albany.
Discussant: Yuichi Kitamura, University of Wisconsin-Madison.

"Mean-Squared Error Reduction for GMM Estimators of Time Series Models," Guido Kuersteiner, Massachusetts Institute of Technology.
Discussant: Xiaohong Chen, London School of Economics.

Organizer: Werner Ploberger, University of Rochester.
Chair: Ingolf Dittmann, University of Dortmund.

Multivariate Models
"Principal Components and the Long Run," *Xiaohong Chen, London School of Economics, Lars P. Hansen, University of Chicago, and Jose Scheinkman, Princeton University.
Discussant: George J. Jiang, York University.

"Testing for Structural Change of a Time Trend Regression in Panel Data," *Chihwa Kao and Jamie Emerson, Syracuse University.
Discussant: Badi H. Baltagi, Texas A&M University.

"On Estimation and Inference of Cointegrated Panel Regressions with Near Integrated Regressors," Heikki Kauppi, University of Helsinki.
Discussant: Chihwa Kao, Syracuse University.

"Inference on Segmented Cointegration and Reconsideration of the Fisher Relation," Jae Young Kim, State University of New York at Albany.
Discussant: Ingolf Dittmann, University of Dortmund.

Organizer: Werner Ploberger, University of Rochester.
Chair: Badi H. Baltagi, Texas A&M University.

Inference in Nonstationary Models
"Estimation of the Trend Model with Autoregressive Errors," *Barry Falk, Anindya Roy, and Wayne A. Fuller, Iowa State University.
Discussant: Ingolf Dittmann, University of Dortmund.

"Residual-Based Tests for Fractional Cointegration: A Monte Carlo Study," Ingolf Dittmann, University of Dortmund.
Discussant: Hans-Martin Krolzig, University of Oxford.

"Diagnostic Checking for Adequacy in Linear and Nonlinear Time Series Models, Yongmiao Hong,

Cornell University; *Tae-Hwy Lee, University of California-Riverside.
Discussant: Andreas Gottschling, Deutsche Bank Research.

"Efficient Estimation of the Continuous Time Stochastic Volatility Model via the Empirical Characteristic Function," *George J. Jiang, York University; John L. Knight, University of Western Ontario.
Discussant: Valentina Corradi, Queen Mary and Westfield College.

Organizer: Werner Ploberger, University of Rochester.
Chair: Bent Sorensen, Federal Reserve Bank of Kansas City.

Nonlinear Models
"Predicting Markov-Switching Vector Autoregressive Processes," Hans-Martin Krolzig, University of Oxford.
Discussant: George J. Jiang, York University.

"Testing for Neglected Nonlinearity in Regression Models: A Collection of New Tests," *Gloria Gonzalez-Rivera and Christian M. Dahl, University of California-Riverside.
Discussant: Xiaohong Chen, London School of Economics.

"A Model Specification Test for Diffusion Processes," *Valentina Corradi, Queen Mary and Westfield College; Norman R. Swanson, Pennsylvania State University.
Discussant: Bent Sorensen, Federal Reserve Bank of Kansas City.

"A Consistent and Interpretable Nonlinear Modeling Method with Applications to Economics and Finance," *Andreas Gottschling and Christof Kreuter, Deutsche Bank Research.
Discussant: Gloria Gonzalez-Rivera, University of California-Riverside.

Organizer: Werner Ploberger, University of Rochester.
Chair: Yuichi Kitamura, University of Wisconsin-Madison.

Asset Pricing I
"Generalized Numeraire Portfolios," Giorgio DeSantis, Goldman Sachs; Bruno Gerard and *Fulvio Ortu, University of Southern California.
Discussant: Pierluigi Balduzzi, Boston College.

"Money, Market Equilibrium, and Stock-Return Predictability," Pierluigi Balduzzi, Boston College.
Discussant: David Marshall, Federal Reserve Bank of Chicago

"A Further Equity Premium Puzzle," J. Huston McCulloch, Ohio State University.
Discussant: David Chapman, University of Texas-Austin.

Organizer: John Heaton, University of Chicago.
Chair: David Chapman, University of Texas-Austin.

Asset Pricing II
"Nonparametric Estimation of Time Varying Characteristics of Intertemporal Asset Pricing Models," *Peter Woehrmann, University of Bielefeld; Willi Semmler, New School University and University of Bielefeld; Martin Lettau, Federal Reserve Bank of New York.
Discussant: John Heaton, University of Chicago.

"Savings, Portfolio and Investment Decisions: Observable Implications with Knightian Uncertainty," Wen-Fang Liu, University of Washington.
Discussant: Deborah Lucas, Northwestern University.

Organizer: John Heaton, University of Chicago.
Chair: John Heaton, University of Chicago.

Financial Time Series
"Estimating Jump Diffusions with a Panel of Options and Returns," Mikhail Chernov and *Eric Ghysels, Pennsylvania State University; A. Ronald Gallant, University of North Carolina-Chapel Hill; George Tauchen, Duke University.
Discussant: Luca Benzoni, University of Minnesota.

"Jump-Diffusion Term Structure and Ito Conditional Moment Generator," *Hao Zhou, Duke University.
Discussant: Sanjiv Ranjan Das, Harvard Business School

"Efficient Estimation of Conditional Asset Pricing Models," *Keith P. Vorkink and Douglas J. Hodgson, Unversity of Rochester.
Discussant: Michael W. Brandt, University of Pennsylvania.

Organizer: John Heaton, University of Chicago.
Chair: Sanjiv Ranjan Das, Harvard Business School.

High Frequency Financial Data
"Modeling the Interdependence of Volatility and Inter-Transaction Duration Processes," *Joachim Grammig and Marc Wellner, University of Frankfurt.
Discussant: Ramazan Gencay, University of Windsor.

"Real-Time Trading Models and the Statistical Properties of Foreign Exchange Rates," *Ramazan Gencay, University of Windsor; Giuseppe Ballocchi, Michel Dacorogna, Richard Olsen and Olivier Pictet, Olsen & Associates.
Discussant: Ashish Das, Northwestern University.

"FOMC Days and Exchange Rate Dynamics," *Michael Melvin and Patricia Ramirez, Arizona State University.
Discussant: Ravi Bansal, Duke University.

Organizer: John Heaton, University of Chicago.
Chair: Ravi Bansal, Duke University.

Long Memory in Financial Time Series
"Long Memory Characteristics of the Distributions of Treasury Security Yields, Returns and Volatility," *Robert A. Connolly, University of North Carolina-Chapel Hill; Nuray Guner, Middle East Technical University.
Discussant: Kris Jacobs, McGill University.

"Long Memory, Structural Change, and Information Flow in Markets for Financial Assets," *Francis X. Diebold, New York University, University of Pennsylvania, and National Bureau of Economic Research; Atsushi Inoue, North Carolina State University.
Discussant: Fallaw Sowell, Carnegie-Mellon University.

"Equilibrium Interest Rate Dynamics: Short and Long Memory," Jin-Chuan Duan, Hong Kong University of Science and Technology; *Kris Jacobs, McGill University.
Discussant: Timothy Conley, Northwestern University.

Organizer: John Heaton, University of Chicago.
Chair: Kris Jacobs, McGill University.

Contractual Form
"Revenue Sharing Contract and Control Right Assignment: An Application to the Joint Venture," *Chong-En Bai, Boston College; Zhigang Tao, University of Hong Kong; Changqi Wu, Hong Kong University of Science and Technology.
Discussant: Steve Tadelis, Stanford University.

"Contract Enforcement in Transition," Simon Johnson, Massachusetts Institute of Technology; John McMillan, Stanford University; *Christopher Woodruff, University of California-San Diego.
Discussant: Anna Paulson, Northwestern University.

"Incentives versus Transaction Costs: A Theory of Procurement Contracts," Patrick Bajari and *Steve Tadelis, Stanford University.
Discussant: Michael Riordan, Columbia University.

Organizer: Jeffrey Zwiebel, Stanford University.
Chair: Michael Riordan, Columbia University.

Contractual Enforcement
"Monitoring of Heterogeneous Agents When Monitoring Changes the Distribution of Agents," *Kenneth Koford, University of Delaware; Tsvetomir Tsachev, Bulgarian Academy of Sciences.
Discussant: Antonio Bernardo, University of California-Los Angeles.

"The Endogenous Determination of Verifiability," Murat Usman, Koç University.
Discussant: Howard Chang, University of Pennsylvania.

"Incomplete Contracts, Collusion and Authority Delegation in Organizations," Yutaka Suzuki, Hosei University.
Discussant: Leonardo Felli, London School of Economics.

Organizer: Jeffrey Zwiebel, Stanford University.
Chair: Leonardo Felli, London School of Economics.

Applied Models of Learning
"A Strategic Analysis of Network Reliability," *Venkatesh Bala, New York University; Sanjeev Goyal, Erasmus University, Rotterdam.
Discussant: Dimitri Vayanos, Massachusetts Institute of Technology.

"If at First You Don’t Succeed…: An Experimental Investigation of the Impact of Repetition Options on Corporate Takeovers and the Provision of Public Goods," *Ann B. Gillette, J. Mack Robinson College of Business, Georgia State University; Thomas H. Noe, Tulane University.
Discussant: Kent Daniel, Northwestern University.

"Evolution and Time Horizons in an Agent Based Stock Market," Blake LeBaron, Brandeis University.
Discussant: Peter L. Bossaerts, California Institute of Technology.

Organizer: Jeffrey Zwiebel, Stanford University.
Chair: Dimitri Vayanos, Massachusetts Institute of Technology5

Organizational Form under Employee Hold-Up
"A General Theory of Integration under Contractual Incompleteness," *Catherine de Fontenay, University of New South Wales; Joshua Gans, University of Melbourne.
Discussant: Jeffrey Zwiebel, Stanford University.

"Endogenous Spillovers, Increased Competition and Re-organization Waves," Diego Rodriguez Palenzuela, Universitat Pompeu Fabra and European Central Bank.
Discussant: Christopher M. Snyder, George Washington University.

"Mergers, Employee Hold-up and the Scope of the Firm: An Intra-firm Bargaining Approach to Mergers," Lars Stole, University of Chicago; *Jeffrey Zwiebel, Stanford University.
Discussant: Denis Gromb, Massachusetts Institute of Technology.

Organizer: Jeffrey Zwiebel, Stanford University.
Chair: Dimitri Vayanos, Massachusetts Institute of Technology.

Markets for Customers
"Supplier Surfing: Competition and Consumer Behavior in Subscription Markets," Curtis R. Taylor, Texas A&M University.
Discussant: Patrick DeGraba, Federal Communications Commission.

"The Economics of Number Portability: Switching Costs and Two Part Tariffs," *Reiko Aoki and John Small, University of Auckland and Centre for Research in Network Economics and Communications.
Discussant: Michael Waldman, Cornell University.

"Price Cycles in Markets with Customer Recognition," J. Miguel Villas-Boas, University of California-Berkeley.
Discussant: Yongmin Chen, University of Colorado-Boulder.

Organizer: Michael Riordan, Columbia University.
Chair: Patrick DeGraba, Federal Communications Commission.

Dynamic Oligopoly
"Dynamic Price Competition and Stackelberg Warfare," Byoung Jun, Korea University; *Xavier Vives, Institut d'Analisi Economica, Consejo Superior de Investigaciones Científicas.
Discussant: Dirk Bergemann, Yale University.

"Snowball: The Evolution of Dynamic Oligopolies with Network Externalities," Sarit Markovich, University of Chicago.
Discussant: Nicholas Economides, New York University.

"Optimal Collusion with Private Information," *Susan Athey, Massachusetts Institute of Technology; Kyle Bagwell, Columbia University.
Discussant: Peter Cramton, University of Maryland.

Organizer: Michael Riordan, Columbia University.
Chair: Nicholas Economides, New York University.

Structure of Firms and Markets
"Effects of Distributor Integration on Producer Entry: A Bargaining Perspective," *Paul Heidhues, Wissenschaftszentrum Berlin; Suchan Chae, Rice University.
Discussant: Barry Nalebuff, Yale University.

"Durable Goods, Monopoly Maintenance, and Time Inconsistency," *Hodaka Morita, University of New South Wales; Michael Waldman, Cornell University.
Discussant: David Salant, LECG Incorporated.

"Focused Firms and the Incentive to Innovate," Kenneth S. Corts, Harvard University.
Discussant: Christopher M. Snyder, George Washington University.

Organizer: Michael Riordan, Columbia University.
Chair: Barry Nalebuff, Yale University.

Product-Quality and Brand-Name Competition
"Location as a Signal of Quality," Nikolaos Vettas, Duke University.
Discussant: Kyle Bagwell, Columbia University.

"If at First You Don't Succeed…: Profits, Prices and Market Structure in a Model of Quality with Unknowable Consumer Heterogeneity," Kala Krishna, Pennsylvania State University and National Bureau of Economic Research; *Tor Winston, Pennsylvania State University.
Discussant: Xavier Vives, Institut d'Analisi Economica, Consejo Superior de Investigaciones Científicas.

"The Simple Economics of Brand Stretching," *Lynne Pepall and Daniel Richards, Tufts University.
Discussant: Luis Cabral, London Business School.

Organizer: Michael Riordan, Columbia University.
Chair: Kyle Bagwell, Columbia University.

Empirical Industrial Organization I
"Optimal Reserve Price in First-Auctions: A Formulation from Observed Bids," T. Li, Washington State University; *Isabelle Perrigne and Q. Vuong, University of Southern California.
Discussant: Martin Pesendorfer, Yale University.

"Bidding Behavior in a Repeated Procurement Auction," Mireia Jofre-Bonet and *Martin Pesendorfer, Yale University.
Discussant: Philip A. Haile, University of Wisconsin-Madison.

"Optimal Dynamic Contracts: Evidence from Life Insurance," *Igal Hendel and Alessandro Lizzeri, Princeton University.
Discussant: Pierre-Andre Chiappori, University of Chicago.

Organizer: Pinelopi Goldberg, Columbia University.
Chair: Philip A. Haile, University of Wisconsin-Madison.

Empirical Industrial Organization II
"Implications of Resource Exhaustibility on Exit Patterns in U.S. Coal Mining," David R. Merrell, Carnegie-Mellon Census Research Data Center.
Discussant: Mark J. Roberts, Pennsylvania State University.

"Quantity Discounts for Taste-Varying Consumers," Eugenio J. Miravette, New York University.
Discussant: Scott Stern, Massachusetts Institute of Technology.

"Market Structure, Brand Competition, and the Price of a Pint," Joris Pinkse and *Margaret E. Slade, University of British Columbia.
Discussant: Aviv Nevo, University of California-Berkeley.

Organizer: Pinelopi Goldberg, Columbia University.
Chair: Mark J. Roberts, Pennsylvania State University.

Empirical International Trade
"Geographic Localization of International Technology Diffusion," Wolfgang Keller, University of Texas-Austin.
Discussant: James Harrigan, Federal Reserve Bank of New York.

"Export Decision and Investment in Machinery & Equipment," Sule Ozler and *Kamil Yilmaz, Koç University.
Discussant: Ann Harrison, Columbia University.

"Firm Behavior and Market Access in a Free Trade Area with Rules of Origin," *Jiandong Ju, University of Oklahoma; Kala Krishna, Pennsylvania State University and National Bureau of Economic Research.
Discussant: Philip Levy, Yale University.

Organizer: Pinelopi Goldberg, Columbia University.
Chair: Ann Harrison, Columbia University.

Lobbies and Policies
"Collective Action Theory and Telecommunications Policy," Dino Falaschetti, Washington University.
Discussant: James Snyder, Massachusetts Institute of Technology.

"Who Needs Lobbies? Asymmetric Information and Non-monetary Lobbying," Çaglar Özden, Emory University.
Discussant: Richard Boylan, Washington University.

"Campaign Spending with Office-Seeking Politicians, Rational Voters and Multiple Lobbies," Andrea Prat, Tilburg University.
Discussant: Avinash Dixit, Princeton University

Organizer: Gene Grossman, Princeton University.
Chair: Avinash Dixit, Princeton University.

Electoral Competition
"Do Representative and Direct Democracies Lead to Similar Policy Choices?," Alex Cukierman, Tilburg University and Tel Aviv University; *Yossi Spiegel, Tel Aviv University.
Discussant: Timothy Feddersen, Princeton University.

"Electoral Competition under the Threat of Political Unrest," Matthew Ellman and *Leonard Wantchekon, Yale University.
Discussant: Gilat Levy, London School of Economics

"Rational Agents and Policy Compromise," Humberto G. Llavador, University of California-Davis.
Discussant: Andrea Prat, Tilburg University.

Organizer: Gene Grossman, Princeton University.
Chair: Timothy Feddersen, Princeton University.

International Trade Theory and Policy
"Endogenous Vertical Restraints in International Trade: Implications for Trade Volume, Competition and Welfare" *Horst Raff, Indiana University; Nicolas Schmitt, Simon Fraser University.
Discussant: John McLaren, Columbia University.

"Trade and Contract Enforcement," *James E. Anderson, Boston College; Leslie Young, Chinese University of Hong Kong.
Discussant: Jonathan Eaton, Boston University.

"Optimal Financial Openness with Asymmetric Information in Bank Financing," Bin Xu, University of Florida.
Discussant: Eric Bond, Pennsylvania State University.

Organizer: Gene Grossman, Princeton University.
Chair: Jonathan Eaton, Boston University.

Decision Theory
"Decomposable Choice under Uncertainty," *Simon Grant, Australian National University; Atsushi Kajii, University of Tsukuba; Ben Polak, Yale University.
Discussant: Paolo Ghirardato, California Institute of Technology.

"The Impossibility of Compromise Convexity and Uniqueness in Decision Making with Risk and Uncertainty," *Paolo Ghirardato, California Institute of Technology; Massimo Marinacci, Universita di Bologna.
Discussant: Ben Polak, Yale University.

"Ambiguity Aversion and Incompleteness of Financial Markets," *Sujoy Mukerji, Oxford University; Jean-Marc Tallon, Centre National de la Recherche Scientifique, Equipe Universitaire de Recherche en Economie Quantitative.
Discussant: Massimo Marinacci, Universita di Bologna.

Organizer: Stephen Morris, Yale University.
Chair: Ben Polak, Yale University.

Reputation
"Professional Advice," *Marco Ottaviani, University College London; Peter Sorensen, University of Copenhagen.
Discussant: John Morgan, Princeton University.

"On the Non-Existence of Reputation Effects in Two-Person Infinitely Repeated Games," Jimmy Chan, Johns Hopkins University.
Discussant: Larry Samuelson, University of Wisconsin-Madison.

"Legal Precedent and Appellate Review with Careerist Judges," Gilat Levy, London School of Economics.
Discussant: Zvika Neeman, Boston University.

Organizer: Stephen Morris, Yale University.
Chair: Zvika Neeman, Boston University.

Experiments in Game Theory
"An Experimental Study of House Allocation Mechanisms," *Yan Chen and Tayfun Sonmez, University of Michigan.
Discussant: Eiichi Miyagawa, Columbia University.

"Minimax Play at Wimbledon," *Mark Walker and John Wooders, University of Arizona.
Discussant: Miguel Costa-Gomes, Harvard University.

"Cognition and Behavior in Normal-Form Games," *Miguel Costa-Gomes, Harvard University; Vincent Crawford, University of California-San Diego; Bruno Broseta, University of Arizona.
Discussant: Rosemarie Nagel, Universitat Pompeu Fabra.

Organizer: Stephen Morris, Yale University.
Chair Rosemarie Nagel, Universitat Pompeu Fabra.

Repeated Moral Hazard
"Who Wants a Good Reputation?," George Mailath, University of Pennsylvania; *Larry Samuelson, University of Wisconsin-Madison.
Discussant: Martin Cripps, Warwick University.

"The Role of Market Institutions when Quality is a Public Good," Rudolf Kerschbamer, Muriel Niederle and *Josef Perktold, University of Chicago.
Discussant: Peter Norman, University of Wisconsin-Madison.

"Trading in Names under Moral Hazard," Dragan Filipovich, Centro de Investigación y Docencia Económicas.
Discussant: Steven Tadelis, Stanford University.

Organizer: Stephen Morris, Yale University.
Chair Peter Norman, University of Wisconsin-Madison.

Asymmetric Information and Markets
"Discrete Public Goods with Incomplete Information," *Flavio Menezes, Australian National University and EPGE/FGV; Paulo K. Monteiro, Instituto de Matematica Pura e Aplicada and University of Copenhagen; Akram Temimi, University of Alabama.
Discussant: Bryan Ellickson, University of California-Los Angeles.

"Equity, Options and Efficiency in the Presence of Moral Hazard," *Michael Magill, University of Southern California; Martine Quinzii, University of California-Davis.
Discussant: Edward S. Prescott, Federal Reserve Bank of Richmond.

"Organizations in Arrow-Debreu Economics with Private Information," *Edward S. Prescott, Federal Reserve Bank of Richmond; Robert M. Townsend, University of Chicago and Federal Reserve Bank of Chicago.
Discussant: Martine Quinzii, University of California-Davis.

Organizer: Chris Shannon, University of California-Berkeley.
Chair: Bryan Ellickson, University of California-Los Angeles.

Indivisibilities and Markets for Durable Goods
"Existence of Stationary Equilibrium in the Markets for New and Used Durable Goods," Hideo Konishi and *Michael T. Sandfort, Southern Methodist University.
Discussant: John Rust, Yale University.

"Heterogeneous Discount Factors in an Assignment Model with Search Frictions," Andreas Ramsauer, University of Vienna.
Discussant: Robert Shimer, Princeton University.

"Exchange in a General Market with Indivisible Goods," Szilvia Pápai, Universidade Nova de Lisboa.
Discussant: Jan Eeckhout, University of Pennsylvania.

"Heterogeneity as a Coordination Mechanism," Melvyn G. Coles, University of Essex; *Jan Eeckhout, University of Pennsylvania.
Discussant: Joseph Ostroy, University of California-Los Angeles.

Organizer: Chris Shannon, University of California-Berkeley.
Chair: Robert Shimer, Princeton University.

Consumer Choice and Dynamic Economies
"Measuring Consumer Inconsistency: Real Income, Revealed Preference and the Slutsky Matrix," David Jerison, Massachusetts Institute of Technology; *Michael Jerison, State University of New York at Albany.
Discussant: Susan Snyder, Virginia Polytechnic Institute & State University.

"Consumption Choice under Uncertainty with Intertemporal Substitution: Existence and Optimality," Peter Bank and *Frank Riedel, Humboldt Universitat zu Berlin.
Discussant: Michael Magill, University of Southern California.

"Efficiency of the Stock Market in the OLG Model with Production," Michael Magill, University of Southern California; *Martine Quinzii, University of California-Davis.
Discussant: Chris Shannon, University of California-Berkeley.

Organizer: Chris Shannon, University of California-Berkeley.
Chair: Susan Snyder, Virginia Polytechnic Institute & State University.