2013 - Understanding the Economic Slump

Held on Thursday, February 28 and Friday, March 1, 2013, on the Princeton University campus, this conference combined economic and historical analysis to shed light on how to overcome the slow recovery. Videos, papers presented, and corresponding slides from are posted below. Selected photos from the conference are here.

Read the conference summary.


Videos, Papers, & Slides

Session I: Lessons from the Great Depression

Chair: Atif Mian, Princeton University

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

Gary Gorton, Yale University
"The Flight from Maturity"

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

Video: Deep Recessions, Fast Recoveries and Financial Crises: Evidence from the American Record


Video: The Flight from Maturity


Video: When Credit Bites Back

Session II: Policy Uncertainty

Chair: Brandice Canes-Wrone, Princeton University

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)

Video: Measuring Economic Policy Uncertainty


Video: Uncertainty, Redistribution, and the Labor Market


Video: Political Uncertainty and Risk Premia

Keynote Address

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

"Sovereign Debt Crises and Sovereign Debt Restructuring"

Video: Sovereign Debt Crises and Sovereign Debt Restructuring

Session III: Financial Innovation

Chair: Ashoka Mody, Woodrow Wilson School, Princeton University

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

Edward Kung, UCLA
"A Structural Model of Continuous Workout Mortgages"

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

Video: Uncertainty Shocks and Balance Sheet Recessions


Video: A Structural Model of Continuous Workout Mortgages


Video: Speculation and Risk Sharing with New Financial Assets

Session IV: Policy Responses

Chair: Hyun Song Shin, Princeton University

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

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"

Loretta J. Mester, Federal Reserve Bank of Philadelphia
"Federal Reserve Policy During and After the Crisis"

Video: A Banking Union for the Euro


Video: Problems with the Helicopter


Video: Federal Reserve Policy During and After the Crisis


2013 Conference

Keynote Speaker

Anne Krueger

Anne Krueger, Johns Hopkins University