Frontiers of Macroeconomics


Frontiers of Macroeconomics


Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University, Southwestern University of Finance and Economics (SWUFE), Northwestern University and Federal Reserve Bank of Atlanta are pleased to announce that the Journal of Economic Perspectives Conference 2018 will be held on December 8-9, 2018, in Shanghai, China, on the theme of “Frontiers of Macroeconomics”.


This conference aims to provide a high-level open platform to bring together the academics and researchers from leading academic institutions to discuss the frontiers of academic research in macroeconomics. The leading international scholars will provide the participants with cutting-edge research methodologies and novel perspectives.


Day One’s program consists of presentations of 6 papers selected from the Journal of Economic Perspectives. It will be open to the public, including scholars, policy makers and other non-experts who are interested in the latest development of macroeconomic research. Day Two comprises presentations of 6 invited papers on shadow banking and Chinese economy with a focus on macroeconomic modelling.


  • Program
  • Venue
  • Participants
  • Registration


Frontiers of Macroeconomics


Day1: December 8, 2018

Papers from the Journal of Economic Perspectives, “The State of Macroeconomics”


9:00 - 9:30am Opening remark
  David Altig Executive Vice President and Director of Research,
  Federal Reserve Bank of Atlanta.
9:30 - 10:30am The State of New Keynesian Economics: A Partial Assessment
  Jordi Galí Universitat Pompeu Fabra,
    Centre de Recerca en Economia Internacional (CREI)
  Presented by: Jordi Galí
  Discussant: Jianjun Miao, Boston University
10:30 - 10:45am Coffee Break
10:45 - 11:45am What Happened: Financial Factors in the Great Recession?
  Mark Gertler New York University
  Simon Gilchrist Boston University
  Presented by: Simon Gilchrist
  Discussant: Zheng Liu, Federal Reserve Bank of San Francisco
11:45 am - 12:45pm On DSGE Models
  Lawrence J. Christiano Northwestern University
  Martin S. Eichenbaum Northwestern University
  Mathias Trabandt Freie Universitat Berlin
  Presented by: Lawrence J. Christiano
  Discussant: Pengfei Wang, Hong Kong University of Science and Technology
12:45 - 2:00pm Lunch
2:00 - 3:00pm Identification in Macroeconomics
  Emi Nakamura Columbia University
  Jón Steinsson Columbia University
  Presented by: Jón Steinsson
  Discussant: Xiaohong Chen, Yale University
3:00 - 3:15pm Coffee Break
3:15 - 4:15pm Incorporating Household Heterogeneity in Business Cycle Models
  Greg Kaplan University of Chicago
  Gianluca Violante Princeton University
  Presented by: Greg Kaplan
  Discussant: Jinhui Bai, Tsinghua University
4:15 - 5:15pm Finance Business Cycles: The Credit Driven Household Demand Channel
  Atif Mian Princeton University
  Amir Sufi University of Chicago, Booth School of Business
  Presented by: Amir Sufi
  Discussant: Erica Li, Cheung Kong Graduate School of Business


Day 2: December 9, 2018


9:00 - 10:00am The Mandarin Model of Growth
  Wei Xiong Princeton University
  Presented by: Wei Xiong
  Discussant: Li-An Zhou, Peking University
10:00 - 11:00am A Macroeconomic Model with Financial Panics
  Mark Gertler New York University
  Nobuhiro Kiyotaki Princeton University
  Andrea Prestipino Board of Governors, Federal Reserve
  Presented by: Mark Gertler
  Discussant: Lawrence J. Christiano, Northwestern University
11:00 - 11:15am Coffee Break
11:15am - 12:15pm Shadow Banking and the Four Pillars of Traditional Financial Intermediation
  Emmanuel Farhi Harvard University
  Jean Tirole University of Toulouse
  Presented by: Emmanuel Farhi
  Discussant: Zhiguo He, University of Chicago, Booth School of Business
12:15 - 1:15pm Lunch
1:15 - 2:15pm Suboptimal Choice and Asset Pricing
  Jun Liu University of California, San Diego
  Presented by: Jun Liu
  Discussant: Hong Yan, Shanghai Advanced Institute of Finance (SAIF)
2:15 - 2:30pm Coffee Break
2:30 - 3:30pm Institutional Foundations of China's Growth
  Chong-en Bai Tsinghua University
  Chang-Tai Hsieh University of Chicago, Booth School of Business
  Zheng Song Chinese University of Hong Kong
  Presented by: Chong-en Bai
  Discussant: Xiaodong Zhu, University of Toronto
3:30 - 4:30pm Macroeconomic Effects of Financial Policies
  Kaiji Chen Emory University
  Jue Ren Texas Christian University
  Tao Zha Federal Reserve Bank of Atlanta
  Presented by: Tao Zha
  Discussant: Chun Chang, Shanghai Advanced Institute of Finance (SAIF)