Second Annual Conference

Understanding the Economic Slump

February 28, 2013

This conference took place on Thursday, February 28 and Friday March 1, 2013 on the Princeton University campus. It combined economic and historical analysis to shed light on how to overcome the slow recovery.

Program

Thursday, February 28, 2013

Welcome
Markus Brunnermeier and Atif Mian, 
JRCPPF Co-Directors, Princeton University

Session I: Lessons from the Great Depression

Michael Bordo, Rutgers University
"Deep Recessions, Fast Recoveries and Financial Crises: Evidence from the American Record"
(Paper | Slides | Video)

Gary Gorton, Yale University
"The Flight from Maturity"
(Slides | Video)

Alan Taylor, University of Virginia
"When Credit Bites Back"
(Paper | Slides | Video)

Chair:
Atif Mian, Princeton University

Session II: Policy Uncertainty

Nicholas Bloom, Stanford University
"Measuring Economic Policy Uncertainty"
(Paper | Slides | Video)

Casey B. Mulligan, University of Chicago
"Uncertainty, Redistribution, and the Labor Market"
(Paper | Slides | Video)

Pietro Veronesi, Chicago Business School
"Political Uncertainty and Risk Premia"
(Paper | Slides | Video)

Chair:
Brandice Canes-Wrone, Princeton University

Keynote Address

Anne Krueger, Johns Hopkins University
Former Deputy Managing Director of the IMF

"Sovereign Debt Crises and Sovereign Debt Restructuring"
(SpeechVideo)

Friday, March 1, 2013

Session III: Financial Innovation

Sebastian Di Tella, MIT
"Uncertainty Shocks and Balance Sheet Recessions"
(Paper | Slides | Video)

Edward Kung, UCLA
"A Structural Model of Continuous Workout Mortgages"
(Slides | Video)

Alp Simsek, Harvard University
"Speculation and Risk Sharing with New Financial Assets"
(Paper | Slides | Video)

Chair:
Ashoka Mody, Woodrow Wilson School, Princeton University

Session IV: Policy Responses

Giovanni Dell'Ariccia, IMF
"A Banking Union for the Euro"
(Paper | Slides | Video)

Linda Goldberg, Federal Reserve Bank of New York
"International Dollar Use, Global Finance and Central Bank Responses"

Jean-Pierre Landau, Sciences-Po
"Problems with the Helicopter"
(Slides | Video)

Loretta J. Mester, Federal Reserve Bank of Philadelphia
"Federal Reserve Policy During and After the Crisis"
(Slides | Video)

Chair:
Hyun Song Shin, Princeton University

Keynote Speaker

Anne KruegerAnne Krueger
Johns Hopkins University