Photo credit: Anna Logue

Conference on “Macroeconomic Issues after the Crisis”


Hotel Il Melograno in Monopoli



Thursday, 15 June 2017

 19.30 Reception and Dinner - Hotel Il Melograno

Friday, 16 June 2017

 9.15 - 9.30 Welcome address

 Morning Session - Chair: Saverio Simonelli (CSEF)

 9.30 – 10.30  Larry Christiano (Northwestern University) “Is there a Uniqueness Problem in the New Keynesian Model?”

Discussant: Klaus Adam (Mannheim University)

10.30 - 11.00 Coffee Break

11.00 - 12.00 Claudio Michelacci (EIEF) “Aggregate Demand Networks” (joint with Luigi Paciello and Andrea Pozzi)

Discussant: Luigi Iovino (Bocconi Universtity)

12.00 – 13.00 Arlene Wong (Federal Reserve Bank of Minneapolis) “On The Cyclicality of Gross Margins” (with Eric Anderson and Sergio Rebelo)

Discussant: Pontus Rendahl (Cambridge University)

13.00- 14.30 Lunch

Afternoon Session - Chair: Klaus Adam (University of Mannheim)

14.30 - 15.30  Harald Uligh (University of Chicago) “Neoclassical growth with long-term one-sided commitment contracts” (joint with Dirk Krüger)

Discussant: Morten Ravn (University College London)

15.30 – 16.30  Pierre Yared (Columbia Business School) “Fiscal Rules and Discretion in a World Economy” (joint with Marina Halac)

Discussant: Facundo Piguillem (EIEF)

20.00 Reception and Dinner (by invitations only)


Saturday, 17 June 2017

Morning Session - Chair: Luigi Paciello (EIEF)

9.30 - 10.30  Morten Ravn (University College London) “Macroeconomic Fluctuations with HANK & SAM: an Analytical Approach” (joint with Vincent Sterk)

Discussant: Xavier Ragot (Sciencespo)

10.30 - 11.00 Coffee Break

11.00 - 12.00 Giancarlo Corsetti (University of Cambridge) “The Missing Internal Devaluation Puzzle: Nominal and Real Adjustment to the Great Recession within the US” (joint with Luca Dedola and  Riccardo Trezzi)

Discussant: Juan Passadore (EIEF)

12.00 – 13.00 Marty Eichenbaum (Northwestern University) “Monetary Policy and the Predictability of Nominal Exchange Rates” (with Benjamin K. Johannsen and Sergio Rebelo)

Discussant: Gaetano Gaballo (ECB)

 13.00- 14.30 Lunch

Afternoon Session - Chair: Morten Ravn (University College London)

14.30 - 15.30 Giorgio Primiceri (Northwestern University) “The Mortgage Rate Conundrum“ (with A. Justiniano and A Tambalotti)

Discussant: Ethan Ilzetzki (London School of Economics)



Klaus Adam (Mannheim University)

Martin Eichenbaum (Northwestern University)

Luigi Paciello (EIEF)

Morten Ravn (University College London)

Saverio Simonelli (University of Naples Federico II and CSEF)

The conference is held at the Hotel Il Melograno ( in Monopoli and is co-organised by the Center for International Macroeconomics (Northwestern University), the Center for Studies in Economics and Finance (CSEF), the Einaudi Institute for Economics and Finance (EIEF), the University College of London (UCL) and the University of Mannheim.