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Macroeconomics after the (financial) flood - Conference in memory of Albert Ando (1929-2002)

September 19, 2012 marked the 10th anniversary of the death of Prof. Albert Ando, who contributed to a number of research projects carried out at the Bank of Italy over a period of two decades. The Bank will paid tribute to him and his research activity with an international conference focusing on some of the themes that featured prominently among his interests and in his work. The conference, entitled "Macroeconomics after the (financial) flood. Conference in memory of Albert Ando (1929-2002)," took place at the Bank's headquarters in Rome on 18 December 2012.

Program

SESSION 1: IMPACT OF CYCLICAL AND DEMOGRAPHIC FACTORS ON THE DISTRIBUTION OF INCOME AND WEALTH

Inflation, demand for liquidity, and welfare - Paper
Shutao Cao (Bank of Canada), Césaire A. Meh (Bank of Canada), José-Víctor Ríos Rull (University of Minnesota, Federal Reserve Bank of Minneapolis, CAERP and NBER), Yaz Terajima (Bank of Canada)

Slipping and sliding: Wealth of US households over the financial crisis - Presentation
Arthur Kennickell (Board of Governors of the Federal Reserve System)

SESSION 2: FINANCIAL CRISIS AND PROLONGED STAGNATION IN JAPAN: LESSONS FOR ITALY AND EUROPE

Defying gravity: How long will Japanese government bond prices remain high? - Paper (external link, NBER website), Presentation
Takeo Hoshi (University of California, San Diego, NBER and TCER), Takatoshi Ito (University of Tokyo, NBER and TCER)

The mystery of the printing press: Self-fulfilling debt crises and monetary sovereignty - Paper
Giancarlo Corsetti (Cambridge University; University of Rome III and CEPR), Luca Dedola (ECB and CEPR)

Some unpleasant properties of log-linearized solutions when the nominal rate is zero - Paper
R. Anton Braun (Federal Reserve Bank of Atlanta), Lena Mareen Körber (London School of Economics), Yuichiro Waki (University of Queensland)