Held on February 20, 2014, the conference took place on the Princeton Campus and brought together academics, researchers and policy makers to discuss the connections between Consumption and Finance. Leading researchers in macro, finance and behavioral economics talked about what we have learned in the broad area of consumption and where we need to focus next. Robert E. Hall, Robert and Carole McNeil Joint Hoover Senior Fellow and Professor of Economics, Stanford University, gave the keynote address. Videos, papers presented, and corresponding slides from are posted below. Selected photos from the conference are here.
Read the conference summary.
Videos, Papers, & Slides
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Session I: Consumption & Credit
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Chair: Angus S. Deaton, Princeton University
Chris Carroll, Consumer Financial Protection Bureau
"Credit and Saving in the Long Run and Over the Business Cycle"
(Paper | Slides | Video)
Amir Sufi, Chicago Booth School of Business
"The Effect of Interest Rate and Collateral Value Shocks on Household Spending"
(Paper | Slides | Video)Video: Credit and Saving in the Long Run and Over the Business Cycle
Video: The Effect of Interest Rate and Collateral Value Shocks on Household Spending
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Session II: Consumption and Non-standard Preferences
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Chair: Mark Aguiar, Princeton University
Adair Morse, Berkeley Haas School of Business
"Trickle-Down Consumption"
(Paper | Slides)David Laibson, Harvard University
"Present Bias and Consumption"
(Paper | Slides)Video: Trickle Down Consumption
Video: Present Bias and Consumption
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Keynote Address
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Robert E. Hall, Hoover Senior Fellow and Professor of Economics, Stanford University
"Consumption Smoothing and Intertemporal Substitution vs. the Household Financial Squeeze in the Great Recession"
(Slides) -
Session III: Wealth and Saving Behavior
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Chair: Roland Benabou, Princeton University
Raj Chetty, Harvard University
"Active vs. Passive Decisions and Crowd-Out in Retirement Savings Accounts: Evidence from Denmark"
(Paper | Slides)Jonathan Zinman, Dartmouth College
"Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock"
(Paper | Slides) -
Session IV: Consumer Finance
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Chair: Nobu Kiyotaki, Princeton University
Annamaria Lusardi, George Washington University
"Debt and Debt Management Among Older Adults"
(Paper | Slides)Gregor Matvos, Chicago Booth School of Business
"Advertising Expensive Mortgages"
(Paper | Slides)Johanness Stroebel, NYU Stern School of Business
"Very Long-Run Discount Rates"
(Paper | Slides)Video: Debt and Debt Management Among Older Adults
Video: Advertising Expensive Mortgages
Video: Very Long-Run Discount Rates
Keynote Speaker
Robert E. Hall, Stanford University