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Household Finance and Macroeconomics
15 – 16 Octubre 2009
Madrid
Conferencias
Información
El Banco de España ha organizado una conferencia sobre finanzas de los hogares y macroeconomía, que se celebró en Madrid los días 15 y 16 de octubre de 2009. La conferencia se centró en las interacciones entre la situación financiera de las familias y la macroeconomía. Estuvo abierta a trabajos teóricos y empíricos sobre temas relacionados con la situación financiera de las familias, su composición y su relevancia para el análisis macroeconómico.
Ponencias
- 15 Octubre 2009
- Session 1. Welcome and Chair: José L. Malo de Molina (Banco de España)
- 09.15 - 10.15
- “Housing, adjustment costs, and endogenous risk aversion”
Marjorie Flavin (University of California, San Diego)
Discussant: Enrique Sentana (CEMFI)
(77 KB)
- 10.15 - 11.15
- “House prices and risk sharing”
María José Luengo-Prado (Northeastern University), Dmytro Hryshko (University of Alberta) and Bent E. Sorensen (University of Houston)
Discussant: Josep Pijoan (CEMFI)
(111 KB) - Session 2. Chair: Nezih Guner (ICREA, Universitat Autònoma de Barcelona and Barcelona GSE)
- 11.45 - 12.45
- “The right amount of trust”
Luigi Guiso (European University Institute and Ente Einaudi), Jeff Butler (Eief) and Paola Giuliano (UCLA)
Discussant: Francesco Caselli (LSE)
(92 KB) - 13.00 - 14.00
- “Health and (other) asset holdings”
Pascal St-Amour (University of Lausanne), Julien Hugonnier (University of Lausanne and Swiss Finance Institute) and Florian Pelgrin (University of Lausanne)
Discussant: Pedro Mira (CEMFI)
(56 KB) - Session 3. Chair: Juan Ayuso (Banco de España)
- 15.15 - 16.15
- “Capital structure, hurdle rates, and portfolio choice – Interactions in an entrepreneurial firm"
John C. Heaton (University of Chicago Booth School of Business) and Deborah Lucas (Kellogg School of Management)
Discussant: Paul Willen (Federal Reserve Bank of Boston)
(806 KB) - 16.30 - 17.30
- “The finances of american households in the past 3 recessions: evidence from the survey of consumer finances"
Michael Palumbo (Federal Reserve Board) and Kevin Moore (Federal Reserve Board)
Discussant: Ernesto Villanueva (Banco de España)
(241 KB) - Session 4. Chair: Olympia Bover (Banco de España)
- 18.00 - 19.00
- “Redistributive taxation and personal bankruptcy in US States”
Charles Grant (University of Reading and EUI) and Winfried Koeniger (IZA Bonn, University of Bonn and EUI)
Discussant: Andrés Erosa (IMDEA)
(147 KB) - 19.00 - 20.00
- “Do disaster expectations explain household portfolios?”
Sule Alan (University of Cambridge)
Discussant: Xavier Mateos Planas (University of Southampton)
(43 KB)
- 16 Octubre 2009
- Session 1. Chair: Roberto Blanco (Banco de España)
- 09.15 - 10.15
- “Insuring consumption using income linked assets”
Andreas Fuster (Harvard University) and Paul Willen (Federal Reserve Bank of Boston)
Discussant: Claudio Michelacci (CEMFI)
(73 KB) - 10.15 - 11.15
- “The response of household wealth to the risk of losing the job: evidence from differences in firing costs"
Cristina Barceló (Banco de España) and Ernesto Villanueva (Banco de España)
Discussant: Andrea Brandolini (Banca d’Italia)
(30 KB) - Session 2. Chair: Juan F. Jimeno (Banco de España)
- 11.45 - 12.45
- “Financial advice and account performance”
Andreas Hacketal, (Goethe University Frankfurt)
Michael Haliassos (Goethe University Frankfurt, CFS and MEA)
Tullio Jappelli (University of Salerno, CSEF)Discussant: Raquel Carrasco (Universidad Carlos III)
(117 KB) - 13.00 - 14.00
- “Fiction or fact: systematic gender differences in financial investments?”
Jesper Rangvid (Copenhagen Business School), Charlotte Christiansen (CREATES, Aarhus University) and Juanna Schröter Joensen (Stockholm School of Economics)
Discussant: Manuel Bagüés (Universidad Carlos III)
(150 KB)