Preliminary Announcement of the 2008 ASSA Program

Preliminary Announcement of the Program

ANNUAL MEETING
ALLIED SOCIAL SCIENCE ASSOCIATIONS

New Orleans, LA, January 4-6, 2008


REGISTRATION FOR THE MEETING: The deadline for pre-registering for the 2008 meeting was November 19. You may register on-site at the Hilton New Orleans Riverside starting on January 3 at 2:00 pm.


(It is important to note that all sessions will be equipped with an overhead projector, and a LCD projector for PowerPoint presentations.)

LOCATION OF SESSIONS FOR 2008 MEETING IN NEW ORLEANS

AAEA - SHERATON
ACE - SHERATON
ACES - SHERATON
AEA - HILTON RIVERSIDE
AEDSB - SHERATON
AERE - SHERATON
AFA - SHERATON
AFE - SHERATON
AFEA - J W MARRIOTT
AFEE - SHERATON
AIES - J W MARRIOTT
AREUEA - SHERATON
ASCE- J W MARRIOTT
ASE - SHERATON
ASGE - J W MARRIOTT
CEANA - J W MARRIOTT
CES - J W MARRIOTT
CS - HILTON RIVERSIDE
EPS - SHERATON
EHA - HILTON RIVERSIDE
ES - MARRIOTT NEW ORLEANS
ESA - HILTON RIVERSIDE
HERO - SHERATON
HES - SHERATON
IAEE - HILTON RIVERSIDE
IAFFE - J W MARRIOTT
IEFS - SHERATON
IHEA - SHERATON
INEM - SHERATON
IOS - J W MARRIOTT
ISIR - HILTON RIVERSIDE
ISNIE - SHERATON
ITFA - SHERATON
KAEA - J W MARRIOTT
LERA - INTER-CONTINENTAL
MEEA - HILTON RIVERSIDE
NABE - SHERATON
NAEFA - SHERATON
NAFE - J W MARRIOTT
NCEE/NAEE - HILTON RIVERSIDE
NEA - J W MARRIOTT
NTA - SHERATON
ODE-HILTON RIVERSIDE
PSSI - SHERATON
SABE - SHERATON
SCE - J W MARRIOTT
SED - J W MARRIOTT
SGE - SHERATON
SPM - SHERATON
TPUG - HILTON RIVERSIDE
URPE - SHERATON



Thursday, January 3, 2008

Jan. 3, 6:30 pm
ASE/NEA/IAFFE/URPE

Inequality, Democracy, and the Economy (D6)

Presiding: JOHN B. DAVIS, University of Amsterdam and Marquette University

DEAN BAKER, Center for Economic and Policy Research
WILLIAM J. DARITY, JR., Duke University
LOURDES BENERIA, Cornell University


Friday, January 4, 2008

Jan. 4, 8:00 am
AAEA

The Economics of More Flexible Approaches to Simultaneously Meeting Competing Water Demands of Irrigated Agriculture, Cities, and the Environment (Q2)

Presiding: JOHN LOOMIS, Colorado State University

FRANK WARD, New Mexico State University, MARY JO KEALY, CH2M-Hill, LEAH MANNING, Lower Colorado River Authority, and GARY GUY, San Antonio Water System--Least Cost Conservation Measures in Irrigated Agriculture to Sustain Urban and Environmental Water Demands

JAMES PRITCHETT and JENNIFER THORVALDSON, Colorado State University--Water as a Crop: An Investigation into Farmers' Willingness to Adopt Limited Irrigation Practices and Participate in Water Leasing

EDNA LOEHMAN, Purdue University, and JOHN LOOMIS, Colorado State University--Economic Efficiency Conditions for Balancing Optimum Instream Flow as a Public Good and Agricultural Uses of Water

Discussant: RONALD GRIFFIN, Texas A&M University


Jan. 4, 8:00 am
AEA

Firm Heterogeneity and International Trade

Presiding: KALA KRISHNA, Pennsylvania State University

ANDRES RODRIGUEZ CLARE, Pennsylvania State University, and SVETLANA DEMIDOVA, University of Georgia--Trade Policy, Endogenous Variety and Heterogenous Productivity

BEE-YAN ROBERTS, MARK ROBERTS, Pennsylvania State University, and DANIEL XU, New York University--Firm Heterogeneity and Export Activity: Investments in R&D of Taiwanese Firms

HIAU LOOI KEE, World Bank, and KALA KRISHNA, Pennsylvania State University--Trade Policy Differences and Firm Characteristics: Evidence from Bangladesh

Discussants: RICHARD BALDWIN, Graduate Institute of International Studies, Geneva
JAMES TYBOUT, Pennsylvania State University
JOSEPH FRANCOIS, Erasmus University Rotterdam


Jan. 4, 8:00 am
AEA

Better Living through Economics: I

Presiding: JOHN J. SIEGFRIED, Vanderbilt University

CHARLES PLOTT, California Institute of Technology--Using Economic Research to Improve the World We Live In

Discussants: DAN NEWLON, National Science Foundation
DANIEL HAMERMESH, University of Texas-Austin
ALAN BLINDER, Princeton University


Jan. 4, 8:00 am
AEA

The Economic Effects of Informal Care around the World (J2)

Presiding: COURTNEY VAN HOUTVEN, Duke University

NORMA COE, Tilburg University, and COURTNEY VAN HOUTVEN, Duke University--The Effect of Parental Caregiving on Adult Children's Health and Wealth

LAURA CRESPO, Centro de Estudios Monetarios y Financieros (CEMFI)--Caring for Parents and Employment Status of European Mid-Life Women

PIERRE-CARL MICHAUD, RAND Corporation, and AXEL HEITMUELLER, London Business School and Prime Minister's Strategy Unit--Informal Care and Employment in England: Evidence from the British Household Panel Survey

BERNARD VAN DEN BERG, Free University of Amsterdam, DENZIL FIEBIG, and JANE HALL, University of New South Wales--The Impact of Providing Informal Care on Self-Reported Well-Being

Discussants: LILIANA PEZZIN, Medical College of Wisconsin
GEMA ZAMARRO, Tilburg University
STEVEN STERN, University of Virginia
EDWARD C. NORTON, University of North Carolina-Chapel Hil


Jan. 4, 8:00 am
AEA

Relational Contracts and Transactional Efficiency (L1)

Presiding: CLAUDE MENARD, ATOM - University of Paris Pantheon - Sorbonne

ROBERT GIBBONS and REBECCA HENDERSON, Massachusetts Institute of Technology--What Do Managers Do? Suggestive Evidence and Potential Theories about Building and Managing Relational Contracts

CLAUDE MENARD, ATOM - University of Paris Pantheon-Sorbonne--The Governance of Interfirm Agreements: A Relational Contract Perspective

ESHIEN CHONG, CLAUDINE DESRIEUX, and STÉPHANE SAUSSIER, University Paris XI Sud--Relational Contracts in Public-Private Partnerships: A Point of View from Multi-Market Contacts

RICARD GIL, University California-Santa Cruz, and JEAN-MICHEL OUDOT, ATOM - University Paris Pantheon-Sorbonne--Contractual Completeness and Ex-post Efficiency: Trade-Offs between Ex-Ante and Ex-Post Costs in Contract Design

Discussants: SCOTT MASTEN, University of Michigan
STEVEN TADELIS, University of California-Berkeley
RICARD GIL, University of California-Santa Cruz
ERIC BROUSSEAU, University of Paris Nanterre


Jan. 4, 8:00 am
AEA

Technology Adoption in Developing Countries (O3)

Presiding: DEAN YANG, University of Michigan

TAVNEET SURI, Massachusetts Institute of Technology--Selection and Comparative Advantage in Technology Adoption

XAVIER GINE, World Bank, NAVA ASHRAF, Harvard University, and DEAN KARLAN, Yale University--Technology Adoption and Network Formation: Evidence from a Horticultural Credit and Export Program in Kenya

DEAN YANG, University of Michigan, and XAVIER GINE, World Bank--Insurance, Credit, and Technology Adoption: Field Experimental Evidence from Malawi

Discussants: HOYT BLEAKLEY, University of Chicago
RICHARD AKRESH, University of Illinois-Ubana-Champaign
REBECCA THORNTON, University of Michigan


Jan. 4, 8:00 am
AEA

Dynamic Tradeoffs in Health Care Decisions (I1)

Presiding: HANMING FANG, Yale University

JEROME ADDA, University College London, UK--Social Smoking versus Addiction

JOHN CAWLEY and FENG LIU, Cornell University--The Impact of Unemployment on Health Investments and Risky Behaviors

HANMING FANG and ALESSANDRO GAVAZZA, Yale University--Dynamic Inefficiencies in Health Care Markets

AHMED KHWAJA, Duke University, DAN SILVERMAN, University of Michigan, and FRANK SLOAN, Duke University--Time Preference, Time Discounting, and Smoking Decisions

Discussants: To be announced.


Jan. 4, 8:00 am
AEA

Asset Prices with Learning (G1)

Presiding: KLAUS ADAM, European Central Bank

TIMOTHY COGLEY, University of California-Davis, and THOMAS J. SARGENT, New York University--The Market Price of Risk and the Equity Premium: A Legacy of the Great Depression?

ATHANASIOS ORPHANIDES and MIN WEI, Federal Reserve Board--Evolving Macroeconomic Perceptions and the Term Structure of Interest Rates

AVIK CHAKRABORTY, University of Tennessee, and GEORGE EVANS, University of Oregon--Can Perpetual Learning Explain the Forward Premium Puzzle?

KLAUS ADAM, European Central Bank, ALBERT MARCET, CREI, Pompeu Fabra, IAB, and JUAN PABLO NICOLINI, Universidad Torcuato di Tella--Stock Market Volatility and Learning

Discussants: To be announced.


Jan. 4, 8:00 am
AEA

Marriage Markets: Theory and Empirics (J1)

Presiding: CHRISTOPHER FLINN, New York University

MARISTELLA BOTTICINI, Collegio Carlo Alberto, University of Torino, and Boston University--Social Norms and Demographic Shocks: Marriage Markets and Dowries in Medieval Tuscany

ZVIKA NEEMAN, ANDREW NEWMAN, and CLAUDIA OLIVETTI, Boston University--Are Working Women Good for Marriage?

EUGENE CHOO, University of Toronto, SHANNON SEITZ, Boston College, and ALOYSIUS SIOW, University of Toronto

DANIELA DEL BOCA, University of Torino, and CHRISTOPHER FLINN, New York University--Household Time Allocation and Modes of Behavior: A Theory of Sorts

Discussants: SHANNON SEITZ, Boston College
META BROWN, University of Wisconsin-Madison
DANIELA DEL BOCA, University of Torino
WILBERT VAN DER KLAAUW, Federal Reserve Bank of New York


Jan. 4, 8:00 am
AEA

The Economic Geography of Trade and Production (R1)

Presiding: STEPHEN REDDING, London School of Economics

GILLES DURANTON, University of Toronto, PIERRE-PHILIPPE COMBES, University of Aix-Marseille, LAURENT GOBILLON, Institut National d'Etudes Démographiques, DIEGO PUGA, Universitat Pompeu Fabra, and SÉBASTIEN ROUX, Institut National de la Statistique et des Etudes Economiques--The Productivity Advantages of Large Cities: Distinguishing Agglomeration from Firm Selection

STEPHEN REDDING, DANIEL STURM, London School of Economics, and NIKOLAUS WOLF, University of Warwick--History and Industry Location: Evidence from German Airports

GUY MICHAELS, London School of Economics--The Long-Term Consequences of Resource Based Specialization

ELEANOR DOYLE, University College Cork, Ireland, and IMMACULADA MARTINEZ-ZARZOSO, Universitaet-Goettingen, Germany--Productivity, Trade, and Institutional Quality: A Panel Analysis

Discussants: GIOVANNI PERI, University of California-Davis
DONALD DAVIS, Columbia University
JAMES HARRIGAN, Federal Reserve Bank of New York


Jan. 4, 8:00 am
AEA

New Evidence on the Great Moderation of U.S. Business Cycle Volatility (E3)

Presiding: GIORGIO PRIMICERI, Northwestern University

LUCA BENATI, European Central Bank, and PAOLO SURICO, Bank of England--VAR Analysis and the Great Moderation

JONAS FISHER, Federal Reserve Bank of Chicago, and MARTIN GERVAIS, University Western Ontario--First Time Home Buyers and Residential Investment Volatility

ZHENG LIU, Emory University, DANIEL WAGGONER, and TAO ZHA, Federal Reserve Bank of Atlanta--Macroeconomic Volatility and Monetary Policy Regimes

JESUS FERNANDEZ-VILLAVERDE, University of Pennsylvania, and JUAN RUBIO-RAMIREZ, Duke University--How Structural are Structural Parameters? Time-Varying Parameters and the Great Moderation

Discussants: MARC GIANNONI, Columbia University
JEFFREY CAMPBELL, Federal Reserve Bank of Chicago
MATTEO IACOVIELLO, Boston College
BENOIT MOJON, Federal Reserve Bank of Chicago


Jan. 4, 8:00 am
AEA

Neural Foundations of Simple Economic Decision Making (D1)

Presiding: ANTONIO RANGEL, Caltech

BRIAN KNUTSON, Stanford University, SCOTT RICK, Carnegie Mellon University, ELLIOTT WIMMER, Stanford University, DRAZEN PRELEC, Massachusetts Institute of Technology, and GEORGE LOEWENSTEIN, Carnegie Mellon University--Neural Predictors of Purchases

HILKE PLASSMAN, JOHN O'DOHERTY, and ANTONIO RANGEL, Caltech--The Neural Basis for the Computation of Decision Values in Simple Economic Choice

CRAIG FOX, SABRINA TOM, CHRISOPHER TREPEL, and RUSSELL POLDRACK, University of California-Los Angeles--Losses Loom Larger Than Gains on the Brain: The Neural Basis of Loss Aversion in Decision Making under Risk

DAVID LAIBSON, Harvard University, SAMUEL MCCLURE, Princeton University, DAN ARIELY, Massachusetts Institute of Technology, and JONATHAN COHEN, Princeton University--Neural Mechanisms Underlying Temptation and Control

Discussants: ALDO RUSTICHINI, University of Minnessota


Jan. 4, 8:00 am
AEA

Understanding School Performance (I2)

Presiding: RICHARD MURNANE, Harvard University

ERIC HANUSHEK, Stanford University, and STEVEN RIVKIN, Amherst College--School Quality and the Black-White Achievement Gap

TIMOTHY BESLEY, London School of Economics, and STEPHEN MACHIN, University College London--Are Public Sector CEOs Different? Leadership Wages and Performance in Schools

ANDREAS AMMERMUELLER, Centre for European Economic Research (ZEW), Germany, and PETER DOLTON, Royal Holloway College--Pupil-Teacher Gender Interaction Effects on Scholastic Outcomes in England and the USA

WIJI ARULAMPALAM, JEREMY SMITH, and ROBIN NAYLOR, University of Warwick--Student Performance and Class Attendance

Discussants: RICHARD MURNANE, Harvard University
Others to be announced.


Jan. 4, 8:00 am
AEA

A Historical Perspective on Money and Payment Systems (E4)

Presiding: NATHAN SUSSMAN, Hebrew University

STEPHEN QUINN, Texas Christian University, and WILLIAM ROBERDS, Federal Reserve Bank of Atlanta--The Evolution of Checks as a Means of Payment: A Historical Survey

ISABEL SCHNABEL, University of Mainz, and BONN HYUN SONG SHIN, Princeton University--The "Kipper- und Wipperzeit" and the Origin of Central Banks

VINCENT BIGNON, University of Paris 10 at Nanterre & Sciences-Po, and RICHARD DUTU, University of Waikato, New Zealand--Moneychangers and the Quality of Money

Discussants: To be announced.


Jan. 4, 8:00 am
AEA

Macroeconomic News and Financial Markets (E4)

Presiding: SAMUEL REYNARD, Swiss National Bank

PAOLO PASQUARIELLO, University of Michigan, and CLARA VEGA, Federal Reserve Board--The On-the-Run Liquidity Phenomenon

MAGNUS ANDERSSON, European Central Bank--Using Intraday Data to Gauge Financial Market Responses to Fed and ECB Monetary Policy Decisions

JOSHUA HAUSMAN, University of California-Berkeley, and JON WONGSWAN, Barclays Global Investors--Global Asset Prices and FOMC Announcements

ANGELO RANALDO and SAMUEL REYNARD, Swiss National Bank--Monetary Policy, Effectgs on Long-Term Rates and Stock Prices

Discussants: JEREMY GRAVELINE, University of Minnesota
ALAIN CHABOUD, Federal Reserve Board
MARCEL FRATZSCHER, European Central Bank
MICHAEL FLEMING, Federal Reserve Bank of New York


Jan. 4, 8:00 am
AEA

Job and Occupational Mobility

Presiding: GIUSEPPE MOSCARINI, Yale University

ILLOONG KWON, State University of New York-Albany, and EVA MEYERSSON MILGROM, Stanford University--Firm vs. Occupation in Labor Markets: A Cross Analysis of Wage, Mobility, and Promotion

ANA RUTE CARDOSO, IZA Bonn--Big Fish in Small Pond or Small Fish in Big Pond? An Analysis of Job Mobility

IOANA MARINESCU, University of Chicago--Separation Costs and Stochastic Productivity in a Matching Model of Job Turnover

GIUSEPPE MOSCARINI, Yale University, and FRANCIS VELLA, Georgetown University--Occupational Mobility and the Business Cycle

Discussants: FABIEN POSTEL-VINAY, University of Bristol
GUEORGUI KAMBOUROV, University of Toronto


Jan. 4, 8:00 am
AEA

Taxes and Factor Mobility

Presiding: ALICIA MENENDEZ, University of Chicago

PAUL BEAUDRY, University of British Columbia, CHARLES BLACKORBY, University of Warwick, and DEZSOE SZALAY, University of Warwick--Taxes and Employment Subsidies in Optimal Redistribution Programs

ROBERT CHIRINKO, University of Illinois-Chicago, and DANIEL WILSON, Federal Reserve Bank of San Francisco--Tax Competition and Factor Mobility: Evidence from the 50 U.S. States

MARCELLO ESTEVAO, International Monetary Fund--Institutions, Informality, and Wage Flexibility

DONALD ROBBINS, University of Antioquia, and DANIEL SALINAS, Dison Ruiz--The Impact of Payroll Taxes upon Employment, Wages, the Unemployment Rate and Informality: Theory and Simulations for Colombia

Discussants: JAMES HINES, University of Michigan
DAVID WILDASIN, University of Kentucky


Jan. 4, 8:00 am
AEA

Marriage and Motherhood in Developing Countries

Presiding: NANCY QIAN, Brown University

JORGE AGUERO and MINDY MARKS, University of California-Riverside--Motherhood and Female Labor Force Participation: Evidence from Infertility Shocks

MANISHA SHAH and RAJ ARUNACHALAM, University of Melbourne--Prostitutes and Brides

ADRIANA COMACHO, University de los Andes--Low Birth Weight and Pre-Term Babies: An Indirect Effect of Terrorist Attacks in Columbia

RAJEEV DEHEJIA, Tufts University and NBER, KATHLEEN BEEGLE, World Bank, and ROBERTA GATTI, World Bank and CPER--Bride Price and Child Labor: A Higher Price for Girls Who Work More?

Discussants: MARCUS RANGEL, University of Chicago
MICHELE TERTILT, Stanford University
ADRIANA LLERAS-MUNEY, Princeton University
ERIC EDMONDS, Dartmouth College


Jan. 4, 8:00 am
AEA

Assessment of Economics in U.S. High Schools and Undergraduate Programs

Presiding: WENDY A. STOCK, Montana State University

WILLIAM WALSTAD, University of Nebraska-Lincoln, and STEPHEN BUCKLES, Vanderbilt University--Major Findings from the First National Assessment of Educational Progress (NAEP) in Economics

WILLIAM WALSTAD, University of Nebraska-Lincoln, and KENNETH REBECK, St. Cloud State University--A New Edition and National Norming Data for the Test of Understanding in College Economics (TUCE)

GEORG SCHAUR, University of Tennessee-Knoxville, and WILLIAM BECKER, Indiana University--Assessment Practices and Trends in Undergraduate Economics Courses

Discussants: ALAN KRUEGER, Princeton University
WENDY A. STOCK, Montana State University
TISHA L. N. EMERSON, Baylor University


Jan. 4, 8:00 am
AFA

Private Security Issuance and the Going Private Decision

Presiding: HEITOR ALMEIDA, New York University

MATTHEW T. BILLETT, University of Iowa, MARK J. FLANNERY, University of Florida, and JON A. GARFINKEL, University of Iowa--Long-Run Underperformance Following External Finance Issues?

GORDON M. PHILLIPS, University of Maryland, and ARMANDO R. GOMES, Washington University-St. Louis--Why Do Public Firms Issue Private and Public Securities?

ARNOUD W.A. BOOT, University of Amsterdam, RADHAKRISHNAN GOPALAN, and ANJAN V. THAKOR, Washington University-St. Louis--Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?

SREEDHAR T. BHARATH and AMY K. DITTMAR, University of Michigan-Ann Arbor--
To Be Or Not to Be (Public)

Discussants: CHARLES HADLOCK, Michigan State University
MICHAEL HERTZEL, Arizona State University
DANIEL FERREIRA, London School of Economics & Political Science
EKKEHART BOEHMER, Texas A&M University


Jan. 4, 8:00 am
AFA

Risks and Risk Compensation in Asset Markets

Presiding: RAVI BANSAL, Duke University

RAVI JAGANNATHAN, Northwestern University, HITOSHI TAKEHARA, University of Tsukuba, and YONG WANG, Hong Kong Polytechnic University--Calendar Cycles, Infrequent Decisions and the Cross Section of Stock Returns

GIL SADKA, Columbia University, RONNIE SADKA, University of Washington, and RAY BALL, University of Chicago--Aggregate Earnings and Asset Prices

HUAFENG (JASON) CHEN, MARCIN T. KACPERCZYK, and HERNAN ORTIZ-MOLINA, University of British Columbia--Labor Unions and Expected Stock Returns

ROBERT D. ARNOTT, JASON C. HSU, Research Affiliates, LLC, JUN LIU, and HARRY MARKOWITZ, University of California-San Diego--Does Noise Create Size and Value Effects?

Discussants: DANA KIKU, University of Pennsylvania
ROBERT DITTMAR, University of Michigan-Ann Arbor
HENGJIE AI, Duke University
AMIR YARON, University of Pennsylvania


Jan. 4, 8:00 am
AFA

Corporate Fraud

Presiding: ANIL SHIVDASANI, University of North Carolina-Chapel Hill

XIAODING LIU and JAY R. RITTER, University of Florida--
Corporate Executive Bribery: an Empirical Analysis

JONATHAN M. KARPOFF, University of Washington, D. SCOTT LEE, and GERALD S. MARTIN, Texas A&M University--The Consequences to Managers for Financial Misrepresentation

JOHN M. BIZJAK, Portland State University, MICHAEL L. LEMMON, University of Utah and RYAN J. WHITBY, Texas Tech University--Option Backdating and Board Interlocks

Discussants: MICHELLE LOWRY, Pennsylvania State University
ADAIR MORSE, University of Chicago
URS PEYER, INSEAD


Jan. 4, 8:00 am
AFA

Bank Capital Requirements and the Business Cycle

Presiding: VIRAL ACHARYA, London Business School

RAFAEL REPULLO and JAVIER SUAREZ, Centro de Estudios Monetarios y Financieros (CEMFI)--The Procyclical Effects of Basel II

DIANA HANCOCK, Federal Reserve Board, JOE PEEK, University of Kentucky, and JAMES A. WILCOX, University of California-Berkeley--The Repercussions on Small Banks and Small Businesses of Procyclical Bank Capital and Countercyclical Loan Guarantees

CHRISTOPHE PERIGNON, HEC Paris, and DANIEL R. SMITH, Simon Fraser University--The Level and Quality of Value-at-Risk Disclosure by Commercial Banks

EBERHARD FEESS, University of Applied Sciences and Technology Aachen (RWTH Aachen), and ULRICH HEGE, HEC Paris--The Basel II Accord: Internal Ratings and Bank Differentiation

Discussants: ANDREW WINTON, University of Minnesota-Twin Cities
PHILIP STRAHAN, Boston College
ANTHONY SAUNDERS, New York University
TANJU YORULMAZER, New York University


Jan. 4, 8:00 am
AFA

Advances in Portfolio Theory

Presiding: JESSICA WACHTER, University of Pennsylvania

JAKSA CVITANIC, California Institute of Technology, LEVON GOUKASIAN, Pepperdine University, and FERNANDO ZAPATERO, University of Southern California--Optimal Risk Taking With Flexible Income

ANDREA BURASCHI, Imperial College London, PAOLO PORCHIA, and FABIO TROJANI, University of St. Gallen--Correlation Risk and Optimal Portfolio Choice

PETER C. SCHOTMAN and FRANK LUTGENS, University of Maastricht--Predictability-Robust Dynamic Portfolio Choice

HONG LIU, Washington University-St. Louis, and MARK LOEWENSTEIN, University of Maryland--Optimal Portfolio Selection with Transaction Costs and 'Event Risk'

Discussants: VICKY HENDERSON, University of Warwick
MICHAEL JOHANNES, Columbia University
ZHENYU WANG, Federal Reserve Banks
FRANCIS LONGSTAFF, University of California-Los Angeles


Jan. 4, 8:00 am
AREUEA

Mortgage Risk Valuation (G1)

Presiding: JAMES R. FOLLAIN, James R. Follain LLC

MAN CHO, KDI School, CHRISTIAN DERITIS, and ERIC ROSENBLATT, Fannie Mae--Appraisal Bias and Loan Performance: New Evidences

JAMES FOLLAIN, James R. Follain LLC, and MIKE SKLARZ, New City Technology LLC--Evaluating Mortgage Performance with Public Records Data: Why, What, and How

RAPHAEL BOSTIC, University of Southern California, KATHLEEN ENGEL, Cleveland State University, PATRICIA MCCOY, University of Connecticut, and ANTHONY PENNINGTON-CROSS, Marquette University--State and Local Anti-Predatory Lending Laws: The Effects of Assignee Liability and Legal Remedies

KERRY D. VANDELL, University of California-Irvine--Subprime Lending and the Housing Bubble: Tail Wags Dog?

Discussants: TYLER YANG, IFE Group
MARK BEARDSELL, Citigroup
KAREN PENCE, Federal Reserve Board
JESSE ABRAHAM, Wells Fargo Home Mortgage


Jan. 4, 8:00 am
AREUEA

Urban Areas (R0)

Presiding: JANET KOHLHASE, University of Houston

MORRIS DAVIS and FRANCOIS ORTALO-MAGNE, University of Wisconsin--Amenities as TFP and the Factor of Four

JOEL A. ELVERY, Bureau of Labor Statistics--City Size and Skill Intensity

YAN CHANG and NELA RICHARDSON, Freddie Mac--Determinants of Equity Extraction

STUART S. ROSENTHAL, Syracuse University, and WILLIAM C. STRANGE, University of Toronto--Female Entrepreneurship, Agglomeration, and a New Spatial Mismatch

Discussants: ELENA SAFIROVA, Resources for the Future
ALBERT SAIZ, University of Pennsylvania
NANCY WALLACE, University of California-Berkeley
JOHN QUIGLEY, University of California-Berkeley


Jan. 4, 8:00 am
AREUEA

Commercial Real Estate Finance (G2)

Presiding: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison


ANTHONY SANDERS, Ohio State University, YONGHENG DENG, University of Southern California, and STUART GABRIEL, University of California-Los Angeles--Commercial Real Estate CDOs and the Pricing of CMBS

DANNY BEN-SHAHAR, Technion - Israel Institute of Technology, EYAL SULGANIK, and EFRAT TOLKOWSKY, Tel Aviv University--Recourse and Non-recourse Mortgage Loans: A Theoretical Analysis Under Asymmetric Information

JUN CHEN, Property & Portfolio Research, Inc.--What Drives Commercial Mortgage Termination?--A Multi-State Transition Approach

XIAOQING ELEANOR XU, Seton Hall University--What Drives the Return on Commercial Mortgage-Backed Securities?

Discussants: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison
ABDULLAH YAVAS, Pennsylvania State University
WILLIAM WHEATON, Massachusetts Institute of Technology
JAMES SHILLING, DePaul University


Jan. 4, 8:00 am
ACES

Understanding Foreign Direct Investment (F2)

Presiding: NAURO CAMPOS, Brunel University, UK

BRUNO MERLEVEDE and KOEN SCHOORS, Ghent University, Belgium--FDI and the Consequences: Towards More Complete Capture of Spillover Effects

CHRISTIAN ARNDT and ANSELM MATTES, Institute for Applied Economic Research, Germany--The Impact of Inward FDI and Foreign Ownership on Performance of German Multinational Firms

NAURO F. CAMPOS and YUKO KINOSHITA, International Monetary Fund--Foreign Direct Investment, Institutional Dynamics and Structural Reforms

YURIY GORODNICHENKO, JAN SVEJNAR, and KATHERINE TERRELL, University of Michigan--FDI Spillovers and Innovation

Discussants: KOEN SCHOORS, Ghent University, Belgium
NAURO CAMPOS, Brunel University, UK


Jan. 4, 8:00 am
AFEE

Institutional Evolution and Change (B5)

Presiding: KLAUS NIELSEN, Roskilde University and Birkbeck College, University of London

JOHN F. HENRY, University of Missouri-Kansas City--Hobbes, Seabright and our Ancestors: Institutionalist Theory and the Writing of Pre-History

WILLIAM H. REDMOND, Indiana State University--Formal Institutions in Historical Perspective

ANNE MAYHEW, University of Tennessee--Idle Curiosity and Play: Veblen and Evolutionary Biology

WILLIAM GANLEY, Buffalo State College--Is Institutional Economics an Evolutionary Science?

ANNA KLIMINA, St. Thomas Moore College, University of Saskatchewan--The Veblenian Concept of Habit and Its Manifestation in the Model of Ingrained Equilibrium: The Case of Oligarchic Transition

Discussant: DAVID DEQUECH, University of Campinas


Jan. 4, 8:00 am
AERE

Extensions and New Applications of the Hotelling Model (Q3)

Presiding: JANIE CHERMAK, University of New Mexico

ROBERT H. PATRICK, Rutgers University, and JANIE M. CHERMAK, University of New Mexico--Irreconcilable Differences: Tests of the Theory of Exhaustible Resources

MICHAEL R. CAPUTO, University of Central Florida--A Nearly Complete Test of a Vertically Integrated, Capital Accumulating, Nonrenewable Resource Extracting Model of the Competitive Firm

UJJAYANT CHAKRAVORTY, University of Central Florida and University of Toulouse, MICHEL MOREAUX, University of Toulouse, and MABEL TIDBALL, University of Montpellier--Ordering the Extraction of Polluting Nonrenewable Resources

PETER HARTLEY and KENNETH B. MEDLOCK III, Rice University--A Model of the Operation and Development of a National Oil Company

Discussants: PETER BERCK, University of California-Berkeley
SCOTT FARROW, University of Maryland-Baltimore County
STEPHEN HOLLAND, University of North Carolina-Greensboro
DENISE YOUNG, University of Alberta


Jan. 4, 8:00 am
ES

Behavioral Choice Theory (D0)

Presiding: JAWWAD NOOR, Boston University

LARRY G. EPSTEIN, University of Rochester--Living with Risk

KAREEN ROZEN, Yale University--Foundations of Intrinsic Habit Formation

SIMON GRANT, Rice University, and BEN POLAK, Yale University--Absolute Ambiguity Aversion and Mean-Dispersion Preferences

JAWWAD NOOR, Boston University--Hyperbolic Discounting and the Standard Model


Jan. 4, 8:00 am
ES

Contracts and Communication (D8)

Presiding: SHAN ZHAO, GREMAQ

DAVID RAHMAN, Universidad Carlos III de Madrid, and ICHIRO OBARA, University of California-Los Angeles--Secret Contracts for Efficient Partnerships

JIAYIN SUN, Boston University--Disclosing Multiple Product Attributes

WIOLETTA DZIUDA, Northwestern University--Strategic Argumentation

SHAN ZHAO, GREMAQ and University of Toulouse--Policy Persistence in Repeated Common Agency Game


Jan. 4, 8:00 am
ES

Organizations and Compensation (J3)

Presiding: DEREK NEAL, University of Chicago

LUIS GARICANO, University of Chicago, and THOMAS N. HUBBARD, Northwestern University--Hierarchies and Earnings Inequality Among U.S. Lawyers, 1977-92

MARKO TERVIÖ, University of California-Berkeley--Difference That CEOs Make: An Assignment Model Approach

ANTONIO FALATO, Federal Reserve Board--Superstars or Superlemons? Top Executive Pay and Corporate Acquisitions

ALEX EDMANS, University of Pennsylvania, XAVIER GABAIX, New York University and NBER, and AUGUSTIN LANDIER, New York University--A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

Discussants: MARIO MACIS, University of Michigan
DEREK NEAL, University of Chicago


Jan. 4, 8:00 am
ES

Political Economy (P1)

Presiding: NICOLAS SAHUGUET, HEC Montreal

SANTIAGO OLIVEROS, University of California-Berkeley--Who Abstains in Equilibrium?

ARIANNA DEGAN, UQAM, and ANTONIO MERLO, University of Pennsylvania--Do Voters Vote Sincerely?

ORIOL CARBONELL-NICOLAU, Rutgers University--A Positive Theory of Income Taxation

NICOLAS SAHUGUET, HEC Montréal, and BENOIT CRUTZEN, Erasmus University, Rotterdam--Redistributive Politics with Distortionary Taxation


Jan. 4, 8:00 am
ES

Developments in Econometrics (C1)

Presiding: VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology

VADIM MARMER and ARTYOM SHNEYEROV, University of British Columbia--Quantile-Based Nonparametric Inference for First-Price Auctions

SOKBAE LEE, University of College London, OLIVER LINTON, London School of Economics, and YOON-JAE WHANG, Seoul National University--Testing For Stochastic Monotonicity

SHINICHI SAKATA, University of British Columbia--Testing Parameter Constancy Across Many Groups

STANISLAV ANATOLYEV, New Economic School--Inference In Linear Regression Models With Many Regressors


Jan. 4, 8:00 am
ES

Public Finance (H2)

Presiding: CHE-LIN SU, Northwestern University

BEEN-LON CHEN, Academia Sinica, HUNG-JU CHEN, National Taiwan University, and PING WANG, Washington University- St. Louis and NBER--Public Policy and Human Capital Accumulation in an Endogenously Growing Economy with Labor-Market Frictions

FELIX BIERBRAUER, MPI Bonn, Germany, and MARCO SAHM, LMU Munich--Germany Informative Voting and the Samuelson Rule

CATARINA REIS, Massachusetts Institute of Technology--The Role of Social Preferences for Optimal Taxation without Commitment

KENNETH JUDD, Hoover Institution, and CHE-LIN SU, Northwestern University--Optimal Income Taxation with Multidimensional Taxpayer Types


Jan. 4, 8:00 am
ES

Empirical Models of Labor, Marriage and Insurance Markets (J0)

Presiding: MICHAEL KEANE, University of Technology Sydney

MICHAEL KEANE, University of Technology Sydney, and MATTHEW JOHNSON, CRA International--A Dynamic Equilibrium Model of the U.S. Wage Structure, 1968-1996

PETER ARCIDIACONO, ANDREW BEAUCHAMP, and MARJORIE MCELROY, Duke University--Competing for the Opposite Sex: An Equilibrium Model of Sex and Dating

THOMAS G. KOCH, University of Texas-Austin--Bankruptcy, Medical Insurance and a Law with Unintended Consequences

JUAN PANTANO, University of California-Los Angeles--On Scarlet Letters and Clean Slates: Criminal Records Policy in a Dynamic Model of Human Capital Accumulation and Criminal Behavior


Jan. 4, 8:00 am
ESA

Social Comparison (D0)

Presiding: YAN CHEN, University of Michigan

CATHERINE ECKEL, University of Texas-Dallas, ENRIQUE FATAS, University of Valencia, and RICK WILSON, Rice University--Status in Networks

ERIN KRUPKA, Institute for the Study of Labor (IZA), and ROBERTO WEBER, Carnegie Mellon University--The Focusing and Observational Effects of Norms

JOHN DUFF and TATIANA KORNIENKO, University of Edinburgh-- Does Competition Affect Giving?

YAN CHEN, University of Michigan, MAX HARPER, JOSEF KONSTAN, University of Minnesota, and SHERRY XIN LI, University of Texas-Dallas--Social Comparisons and Contributions to Online Communities: A Field Experiment on MovieLens

Discussants: TATIANA KORNIENKO, University of Stirling
SHERRY XIN LI, School of Economics, University of Texas-Dallas
TIM CASON, Purdue University
STEPHAN MEIER, Federal Reserve Bank of Boston


Jan. 4, 8:00 am
LERA

Work-Life Voice: Examining the Relationship Between Different Forms of
Employee Voice and Flexible Working Time Arrangements Across Countries

Presiding: EILEEN APPELBAUM, Rutgers University

PETER BERG, ELLEN KOSSEK, and KAUMUDI MISRA, Michigan State University--The Effect of Individual and Collective Voice on Employee Experiences with Flexible Working Time Policies and Practices

HARTMUT SEIFERT, Wirtschafts- und Sozialwissenschaftliches Institut (WSI) in der
Hans-Böckler-Stiftung--Flexible Working Time Patterns in Germany and the Role of Works Councils

ANNA ILSØE, Copenhagen University--Trade-offs on Flexible Working Hours at the Company Level in Denmark, Germany, and the United States

BARBARA POCOCK, University of Southern Australia--Working Time and Workplace Flexibility in Australia: Politics, Policy and Experience

Discussant: NETSY FIRESTEIN, Labor Project for Working Families


Jan. 4, 8:00 am
LERA

Work, Workers, Faith and Values

Presiding: ELLEN DANNIN, Pennsylvania State University

JILL KRIESKY, Institute Wheeling Jesuit University--Big Coal: Faith and Labor Collaboration in the Appalachians

RABBI JILL JACOBS, Jewish Funds for Justice --Poverty and Workers' Rights Through a Jewish Lens

ALISON M. SULENTIC, Bakers Botts LLC--Do Not Cast Me Aside in My Old Age: Supporting Employees Who Care for Aging Parents

JOSE OLIVA, Interfaith Worker Justice--Faith, Works, and Workers

REVEREND JIM SESSIONS, United Methodist Church--Laboring for Worker Justice


Jan. 4, 8:00 am
LERA

Refereed Papers -- Labor Education/Labor Markets

Presiding: ROBERT THORNTON, Lehigh University

KELLY WILLIAMS-WHITT, University of Lethbridge--Disability at Work and the Performance Paradox

PETER PHILLIPS, University of Utah--The NBA in Black and White: Changing Fan Reaction to the Presence of Blacks in Professional Basketball 1951-1997

COLETTE FRIEDRICH and ROBERTO HERNANDEZ, Massachusetts Institute of Technology--Job Queues: Gender and Race at the Application Interface

JOHN F. BURTON, JR. and STEVE GUO, Rutgers University--The Relationship Between Workers' Compensation and Disability Insurance

JI-YOUNG AHN, University of Illinois-Urbana-Champaign--Does Stock-Based Pay Mitigate Destructive Competition Among Top Executives?


Jan. 4, 8:00 am
NAEE/NCEE

Economics Education: Assessment of Student Learning and Performance (A2)

Presiding: PAUL W. GRIMES, Mississippi State University

FEKRU DEBEBE, Educational Testing Service, ELLEN SEWELL, University of North Carolina-Charlotte, and ARTHUR RAYMOND, Muhlenberg College--Comparing the Performance of College and High School Students on the Advanced Placement Exams

WILLIAM BOSSHARDT, Florida Atlantic University, and NEELA MANAGE, Florida Atlantic University--A Matching Estimation of the Causal Effects on Student Performance in Introductory Economics Courses

KIMMARIE MCGOLDRICK, University of Richmond, and STEPHEN A. GREENLAW, University of Mary Washington--Practicing What We Preach: Undergraduate Research Experiences in Economics

MARTIN MILKMAN, Murray State University--AACSB Assessment and a Managerial Economics Group Project

Discussants: HELEN ROBERTS, University of Illinois-Chicago
SHERYL BALL, Virginia Polytechnic Institute & State University
LESTER HADSELL, State University of New York-Oneonta
AVI COHEN, York University


Jan. 4, 8:00 am
NEA

African Development and African Immigration (O1)

Presiding: ROMIE TRIBBLE, Spelman College

JULIET ELU, Spelman College--Private Foreign Direct Investment in ACP Countries: The Impact of Migrant Remittance on Economic Growth and Development

LEONIDAS MUREMBYA, Michigan Bureau of Labor Market Information and Strategic Initiatives--How are Children of Immigrants Faring in the U.S. Job Market?"

WARREN C. WHATLEY, University of Michigan--West Africa in the Emerging Atlantic Economy, 1450-1850

JULIET ELU, Spelman College--Economic Analysis of Terrorism: Rational Choice and Utility Maximization of Terrorist Behavior in Africa and South Asia

BROOKS ROBINSON, Black Economics.org--Coming to Africa

Discussants: KWABENA GYIMAH-BREMPONG, University of South Florida
WILLIAM A. DARITY, JR., University of North Carolina
MWANGI WA GITHINJI, University of Massachusetts
ELIZABETH ASIEDU, University of Kansas
PATRICK MASON, Florida State University


Jan. 4, 8:00 am
NAEFA

Corporate Sector Volatility and Its Relation to Macroeconomic Risks (G1)

Presiding: ROBERT BLISS, Wake Forest University

SEAN CAMPBELL, Federal Reserve Board--Stock Market Volatility and the Great Moderation

GUSTAVO SUAREZ, Federal Reserve Board--Firm Volatility & Banks: Evidence from U.S. Banking Deregulation

JESPER LINDE, TOR JACOBSON, Sveriges Riksbank, RIKARD NILSSON, Svenska Handelsbanken, and KASPER ROSZBACH, Sveriges Riksbank--Default and Aggregate Fluctuations

LUIS SAN VINCENTE PORTES, Montclair State University--On Balance Sheets, Idiosyncratic Risk and Aggregate Volatility: Is Firm Volatility Good for the Economy?

Discussants: ROBERT BLISS, Wake Forest University
ROCCO HUANG, European Central Bank
DRAGON TANG, Kennesaw State University
JAMES WESTON, Rice University


Jan. 4, 8:00 am
PSSI

War and Political Instability (D7)

Presiding: MICHAEL INTRILIGATOR, University of California-Los Angeles

EDWARD L. GLAESER, Harvard University--The Political Economy of Warfare

CARLOS SEIGLIE, Rutgers University--Globalization and War

GREGORY D. HESS, Claremont McKenna College--The Welfare Costs of Conflict

SOLOMON POLACHEK, State University of New York-Binghamton, and DARIA SEVASTIANOVA, University of Southern Indiana--Evidence On the Extent Sociopolitical Instability Decreases A Nation's Economic Performance

Discussants: MICHAEL INTRILIGATOR, University of California-Los Angeles
LUIS LOCAY, University of Miami


Jan. 4, 8:00 am
SGE

Reevaluating Old Issues with Novel Data Sets

Presiding: GREGORY KURTZON, U.S. Bureau of Labor Statistics
TRICIA GLADDEN, U.S. Bureau of Labor Statistics--Re-examining the Impact of the Computer Age on the U.S. Labor Market

GREGORY KURTZON, U.S. Bureau of Labor Statistics--Do the Poor Pay More Store-by-Store?

MARC FUSARO, East Carolina University--Bank Markets Concentration: Don't Forget about Credit Unions

Discussants: PETER MEYER, U.S. Bureau of Labor Statistics
BRADLEY HEIM, U.S. Department of the Treasury
TRICIA GLADDEN, U.S. Bureau of Labor Statistics
MARC FUSARO, East Carolina University

Jan. 4, 8:00 am
URPE

Recent Research on Economic Inequality in the Third World (O1)

Presiding: MELISSA MAHONEY, New School for Social Research and Levy Economics Institute of Bard College

MERRILEE MARDON, Connecticut College--Land Rights, Lone Mothers and the Educational Attainment of Adolescents in Brazil's Agrarian Reform?

TOM MASTERSON, Levy Economics Institute of Bard College--Female Land Rights and Household Consumption in Paraguay, 2001

VAMSI VAKULABHARANAM, Queens College, City University of New York, and AJIT ZACHARIAS, Levy Economics Institute of Bard College--Economic Reforms, Caste and Economic Inequality in India, 1991-2004

BOB REINAUER, University of Massachusetts-Amherst--A Living Wage in Guatemala: An Estimate Using LSMS Data

Discussants: STEPHANIE SEGUINO, University of Vermont
ARJUN JAYADEV, University of Massachusetts-Boston


Jan. 4, 8:00 am
URPE/IAFFE

Gender Bending: Expanding Feminist Political Economy (J1)

Presiding: ELLEN MUTARI, Richard Stockton College of New Jersey

ELISSA BRAUNSTEIN, Colorado State University, CAREN GROWN, Levy Institute, and DIANE ELSON, University of Essex--Gender and Corporate Taxation in the U.S.: An Analysis of Trends 1970-2005

MICHAEL BRUN, Illinois State University, and MARIANNE A. FERBER, University of Illinois-Ubana Champaign--How Do Women-Friendly Policies Affect Men?

PADDY QUICK, St. Frances College--Unpaid, Reproductive, Caring Labor? The Production of Labor Power? The Theoretical Implications of Terms Used to Describe Women's Work

JANE E. MILLER, and YANA VAN DER MEULEN RODGERS, Rutgers University--"Significance" versus "Importance": Substantive and Statistical Considerations in Empirical Research

Discussants: DRUCILLA BARKER, University of South Carolina
ELLEN MUTARI, Richard Stockton College of New Jersey


Jan. 4, 10:15 am
AFEA

Development Policy in Africa (O5)

Presiding: PAUL COLLIER, Oxford University, United Kingdom

MINA BALIAMOUNE-LUTZ, University of North Florida, and LEONCE NDIKUMANA, University of Massachusetts-Amherst and ANECA, Addis Ababa--Export Diversification and Growth: The Case of African Economies

YAW NYARKO, New York University--Economic Development as Problem Solving

EDWARD GHARTEY, University of West Indies--Tax, Spend and Causality in Ghana: 1965-2004

R. CHARLES SEBUHARARA, State University of New York-Binghamton--Liberalization and Financial Development: Some Evidence from Africa

ALBERT OKUNADE, University of Memphis--Specific Health Sector Inputs and African Development: The Case of Health, Human Capital and Pharmaceuticals

Discussants: MWANGI WA GITHINJI, University of Massachusetts-Amherst
MESFIN BEZUNEH, Clark Atlanta University
ELIZABETH ASIEDU, University of Kansas
DANIEL GBETNKOM, University of Yaunde II and UNECA
JULIET ELU, Spelman College


Jan. 4, 10:15 am
AAEA

Biofuels -- Long-Run Implications for Food Security and the Environment (Q4)

Presiding: PRABHU L. PINGALI, United Nations, Food and Agriculture Organization

SIWA MSANGI and MARK W. ROSEGRANT, International Food Policy Research Institute--Biofuel Production and World Agriculture -- Prospects to 2020

PRABHU L. PINGALI, TERRI RANEY, and KEITH WIEBE, United Nations, Food and Agriculture Organization--Biofuels and Food Security -- Conflict or Complement?

GERALD C. NELSON, University of Illinois-Urbana-Champaign--Biofuels and the Environment -- Green Gold or Green Wash?

Discussant: BRUCE MCCARL, Texas A&M University


Jan. 4, 10:15 am
AEA

Design and Reform of Institutions in LDCs and Transition Economies (This session is
dedicated to the memory of John McMillan (1951-2007), who was to have been an author in the session.)

Presiding: AVINASH DIXIT, Princeton University

WILLIAM EASTERLY, New York University--Institutions: Top Down or Bottom Up?

DANI RODRIK, Harvard University--Heterodox Reform

AVNER GREIF, Stanford University, and YADIRA GONZALEZ DE LARA, Stanford University and University of Alicante--Self-enforcing Constitutions and Economic Prosperity: Lessons from History

Discussant: KARLA HOFF, World Bank


Jan. 4, 10:15 am
AEA

Expertise and Macroeconomic Policy

Presiding: DONALD L. KOHN, Federal Reserve Board

TIMOTHY BESLEY, London School of Economics--Insiders versus Outsiders in Monetary Policy-Making

ALAN BLINDER, Princeton University, and JOHN MORGAN, University of California-Berkeley--Does Leadership Produce Better Monetary Policy? An Experimental Study

CHRISTINA D. ROMER and DAVID H. ROMER, University of California-Berkeley--Expertise and Monetary Policy: The FOMC versus the Staff

Discussants: DONALD L. KOHN, Federal Reserve Board
JUSTIN WOLFERS, University of Pennsylvania
VINCENT REINHART, American Enterprise Institute


Jan. 4, 10:15 am
AEA

Toward the Microtheory of Entrepreneurship (L2)

Presiding: WILLIAM BAUMOL, New York University

DANIEL SPULBER, Northwestern University--Entrepreneurs in the Theory of the Firm

DAVID AUDRETSCH, Indiana University and Max Planck Institute--The Knowledge Spillover Theory of Entrepreneurship

VINCY FON, George Washington University and National Science Foundation, and
YING LOWREY, U.S. Small Business Administration and George Washington University--A Microeconomic Approach to the Entrepreneur

WILLIAM BAUMOL, New York University--The Price Theory of Entrepreneurship

Discussants: ROBERT STROM, Ewing Marion Kauffman Foundation
RAJSHREE AGARWAL, University of Illinois
JOSHUA LERNER, Harvard University
JIAWEN YANG, George Washington University


Jan. 4, 10:15 am
AEA

Rare Disasters and Asset Markets (G1)

Presiding: JOHN CAMPBELL, Harvard University

ROBERT BARRO and JOSE URSUA, Harvard University--Consumption Disasters in the 20th Century

XAVIER GABAIX, New York University--A Unified Explanation for the Major Asset-Pricing Puzzles

FRANCOIS GOURIO, Boston University--Rare-Disaster Explanations of the Equity-Premium Puzzle

IAN MARTIN, Harvard University--Consumption-Based Asset Pricing with Higher Cumulants

Discussant: JOHN CAMPBELL, Harvard University


Jan. 4, 10:15 am
AEA

Economics of Traffic Safety: Children, Teenagers and the Elderly (R4)

Presiding: STEVE LEVITT, University of Chicago

STEVE LEVITT, University of Chicago, and JOSEPH DOYLE, Massachusetts Institute of Technology--Evaluating the Effectiveness of Child Safety Seats and Seat Belts in Protecting Children from Injury

PINAR KARACA-MANDIC and GREG RIDGEWAY, RAND--Graduated Driver Licensing: Lower Risk Exposure or Better Driving?

THOMAS DEE, Swarthmore College--Born to be Mild: The Effectiveness of Motorcyclce Helmets in Preventing Injuries

DAVID LOUGHRAN and SETH SEABURY, RAND--The Relative Riskiness of Older Drivers

Discussants: JOHN J. DONOHUE, Yale University
RAJEEV DEHEJIA, Tufts University
LIRAN EINAV, Stanford University
ANINDYA SEN, University of Waterloo


Jan. 4, 10:15 am
AEA

Convergence in Macroeconomics? (E0)

Presiding: OLIVIER BLANCHARD, Massachusetts Institute of Technology

RICARDO CABALLERO, Massachusetts Institute of Technology --Convergence in Macroeconomics?

PATRICK KEHOE, University of Minnesota--Convergence in Macroeconomics?

ROBERT SHIMER, University of Chicago--Convergence in Macroeconomics?

MICHAEL WOODFORD, Columbia University--Convergence in Macroeconomics?

Discussants: To be announced.


Jan. 4, 10:15 am
AEA

Learning from Your Colleagues? Theory and Evidence (O3)

Presiding: EDWARD GLAESER, Harvard University

HAN KIM, ADAIR MORSE, University of Michigan, and LUIGI ZINGALES, University of Chicago--Are Elite Universities Losing Their Competitive Edge?

PIERRE AZOULAY, Massachusetts Institute of Technology, JOSHUA ZIVIN, Columbia University, and JIALAN WANG, Massachusetts Institute of Technology--Superstar Extinction: The Effect of Coauthor Death on Research Productivity in the Academic Life Sciences

BRUCE WEINBERG, Ohio State University--Geography and Innovation: Evidence from Nobel Laureate Scientists

ETTORE DAMIANO, HAO LI, University of Toronto, and WING SUEN, University of Hong Kong--First in Village or Second in Rome

Discussants: ANTONIO CICCONE, University of Pompeu Fabra
BRONWYN HALL, University of California-Berkeley and Maastricht University
DANIEL HAMERMESH, University of Texas
LUIS GARICANO, University of Chicago


Jan. 4, 10:15 am
AEA

Globalization and International Labor Mobility (F2)

Presiding: JOHN MCLAREN, University of Virginia

MICHAEL KREMER, Harvard University, Brookings Institution, Center for Global Development, and NBER, and STANLEY WATT, International Monetary Fund--The Globalization of Household Production

SANJAY JAIN, University of Virginia, and SHARUN MUKAND, Tufts University--Workers Without Borders? Culture, Migration and the Political Limits to Globalization

GORDON HANSON, University of California-San Diego and NBER--International Migration Policy

GIOVANNI FACCHINI, University of Illinois-Urbana Champaign, Universita' degli Studi di Milano and CEPR, and ANNA MARIA MAYDA, Georgetown University, CEPR and IZA--Endogenous Migration Policy Through Majority Voting: An Empirical Investigation

Discussants: DALIA MARIN, University of Munich
GERALD WILLMANN, University of Kiel and University of Otago
DEAN YANG, University of Michigan
GIOVANNI PERI, University of California-Davis


Jan. 4, 10:15 am
AEA

Charitable Contributions--Theory and Experimental Evidence (H4)

Presiding: JOHN LIST, University of Chicago

LISE VESTERLUND, University of Pittsburgh, MARK WILHELM, Indiana University Purdue University-Indianapolis, and HUAN XIE, University of Pittsburgh--An Experimental Test of the Impure Altruism Model of Giving

RACHEL CROSON, University of Texas-Dallas, FEMIDA HANDY, University of Pennsylvania, and JEN SHANG, Indiana University--Keeping Up with the Joneses: The Relationship between Norms, Social Information and Subsequent Charitable Giving

WILLIAM HARBAUGH, ULRICH MAYR,University of Oregon, and DAN BURGHART, New York University--Neural Responses to Taxation and Voluntary Giving Reveal Motives for Charitable Donations

ANDREAS LANGE and ANDREW STOCKING, University of Maryland--On the Dynamics of Charitable Fundraising

Discussants: STEPHAN MEIER, Federal Reserve Bank of Boston
CATHERINE ECKEL, University of Texas-Dallas


Jan. 4, 10:15 am
AEA

Inferring Labor Income Risk from Economic Choices: New Developments (D9)

Presiding: JAMES HECKMAN, University of Chicago

SALVADOR NAVARRO, University of Wisconsin-Madison--A Reconsideration of the Importance of Borrowing Constraints, Uncertainty and Preferences in College Attendance Decisions: Using Observed Choices to Infer Agent's Information

FATIH GUVENEN, University of Texas-Austin, and ANTHONY SMITH, Yale University--Inferring Labor Income Risk from Economic Choices: An Indirect Inference Approach

RICHARD BLUNDELL, University College London, HAMISH LOW, University of Cambridge, and IAN PRESTON, University College London--Decomposing Income Risk Using Consumption and Income Data


Discussants: GIANLUCA VIOLANTE, New York University
ROBERT MOFFITT, Johns Hopkins University


Jan. 4, 10:15 am
AEA

Salience and Taxation (H2)

Presiding: AMY FINKELSTEIN, Massachusetts Institute of Technology

RAJ CHETTY, University of California-Berkeley, ADAM LOONEY, Federal Reserve Board, and KORY KROFT, University of California-Berkeley--Salience and Taxation: Theory and Evidence

AMY FINKELSTEIN, Massachusetts Institute of Technology--E-Z Tax: Tax Salience and Tax Rates

JEFFREY LIEBMAN and RICHARD ZECKHAUSER, Harvard University--Schmeduling

Discussants: DOUGLAS BERNHEIM, Princeton University
PAUL OYER, Stanford University
PETER KATUSCAK, CERGE


Jan. 4, 10:15 am
AEA

Globalization and Its Impact on Workers (J2)

Presiding: STEVEN DAVIS, University of Chicago and American Enterprise Institute

KEVIN HASSETT and APARNA MATHUR, American Enterprise Institute--Taxes and Wages

STEVEN DAVIS, University of Chicago and American Enterprise Institute--What Happened to Employment Stability in America?

J. BRADFORD JENSEN, Peterson Institute, and LORI G. KLETZER, University of California-Santa Cruz--Measuring the Scale and Scope of Services Trade

RICHARD FREEMAN, Harvard University--Are Globalization and Labor Standards Antipodes?

Discussants: STEVEN DAVIS, University of Chicago and American Enterprise Institute
APARNA MATHUR, American Enterprise Institute
RICHARD FREEMAN, Harvard University
LORI KLETZER, University of California-Santa Cruz


Jan. 4, 10:15 am
AEA

Matching Markets (C7)

Presiding: LONES SMITH, University of Michigan

FEDERICO ECHENIQUE, Caltech--What Matchings Can Be Stable? The Testable Implications of Matching Theory.

ROBIN LEE, Harvard University, and MICHAEL SCHWARZ, Yahoo! Research--Interviewing and Dating in Two-Sided Matching Markets

ARCHISHMAN CHAKRABORTY, Baruch College, City University of New York, and ALESSANDRO CITANNA, HEC Paris, and MICHAEL OSTROVSKY, Stanford University--Two-Sided Matching with Interdependent Values

LONES SMITH, University of Michigan--Contagious Matching Games

Discussants: JEREMY FOX, University of Chicago
LONES SMITH, University of Michigan
EMIR KAMENICA, University of Chicago
PARAG PATHAK, Harvard University


Jan. 4, 10:15 am
AEA

New Models of International Business Cycles

Presiding: PAOLO PESENTI, Federal Reserve Bank of New York

SOYOUNG KIM, Korea University, and JAEWOO LEE, International Monetary Fund--A New Open-Macro Interpretation of International Fluctuations

LAURA VELDKAMP, New York University--Trade, Learning and Business Cycle Synchronization

ANDREA FERRERO, Federal Reserve Bank of New York--The Long Run Determinants of the U.S. Trade Deficit

Discussant: DAVID BACKUS, New York University
POL ANTRAS, Harvard University
CEDRIC TILLE, Graduate Institute for International Studies, Geneva


Jan. 4, 10:15 am
AEA

Micro-evidence of Corruption in Emerging Economies

Presiding: FRED FINNAN, University of California-Los Angeles

PENG SUN and YI ZHANG, Peking University--Is There Penalty For Crime? Corporate Scandal and Management Turnover in China

FREDERICO FINAN, University of California-Los Angeles, and CLAUDIO FERRAZ, IPEA--Exposing Corrupt Politicians: The Effects of Brazil's Publicly Released Audits on Electoral Outcomes

FENG LU, Northwestern University--Profiting from Gaizhi: Management Buyouts during China's Privatization

PEDRO VICENTE, University of Oxford--Is Vote Buying Effective? Evidence from a Randomized Experiment in West Africa

Discussants: SHAWN COLE, Harvard Business School
ATIF MIAN, University of Chicago
ASIM KHWAJA, Harvard University
RITA RAMALHO, World Bank


Jan. 4, 10:15 am
AEA

Technological Change, Education Returns, and Earnings Inequality: The Experience of Growing Asian Economies (J3)

Presiding: JIN HWA JUNG, Seoul National University

LIU XUEJUN, Beijing Normal University, ALBERT PARK, Oxford University, and YAOHUI ZHAO, Peking University--Explaining Rising Returns to Education in Urban China

DAIJI KAWAGUCHI, Hitotsubashi University--Declining Return to Education in Japan: 1982-2002

JIN HWA JUNG, Seoul National University, and KANG-SHIK CHOI, Yonsei University--Technological Change and Returns to Education: Implications for the S&E Labor
Market

TAO LI, Shanghai Uniiversity of Fnance and Economics--Why Chinese College Graduates Can't Find Jobs When Its Economy Soars?

Discussants: DAVID LEE, Princeton University
JAY MIN LEE, Yonsei University
TAO LI, Shanghai University of Finance and Economics
ALBERT PARK, OxfordUniversity



Jan. 4, 10:15 am
AEA

Reform: For Better or for Worse?

Presiding: GENE GROSSMAN, Princeton University

GENE GROSSMAN, Princeton University, and EDWIN LAI, Singapore Management University--Parallel Imports and Price Controls

NAERCIO MENEZES, IBMEC Sao Paulo, and MARC-ANDREAS MUENDLER, University of California-San Diego--Labor Reallocation in Response to Trade Reform

IVAN KANDILOV, North Carolina State University--Trade and Wages Revisited: The Effect of China's MFN Status on the Skill Premium in U.S. Manufacturing

BENJAMIN LIEBMAN, Saint Joseph's University, and KASAUNDRA TOMLIN, Oakland University--Reward and Punishment under the Byrd Amendment

Discussants: KEITH MASKUS, University of Colorado
PENNY GOLDBERG, Princeton University


Jan. 4, 10:15 am
AEA

Political Economy in Developing Countries: Evidence from India

Presiding: PADMA DESAI, Columbia University

RAJASHRI CHAKRABARTI, Federal Reserve Bank of New York, and JOYDEEP ROY, Georgetown University and Economic Policy Institute--Gains from a Redrawing of Political Boundaries: Evidence from State Reorganization in India

NANDINI KRISHNAN, Boston University--Political Reservations and Rural Public Good Provision

SUJATA VISARIA, Boston University, ERICA FIELD, and ROHINI PANDE, Harvard University--Residential Segregation and Religious Violence: Consequences for Long-Term Socio-economic Outcomes in Ahmedabad, India

LAKSHMI IYER, Harvard Business School, and ANANDI MANI, Boston University--
Traveling Agents: Political Change and Bureaucratic Turnover in India

Discussants: AMRITA DHILLON, University of Warwick
ABIGAIL PAYNE, McMaster University
LORI BEAMAN, University of California-Berkeley
BIJU RAO, World Bank


Jan. 4, 10:15 am
AEA

Research on Undergraduate Economics Courses and Majors

Presiding: MICHAEL WATTS, Purdue University

KENNETH G. ELZINGA, and DANIEL MELAUGH, University of Virginia--30,000 Principles Students: Some Lessons Learned

STEVEN C. MYERS, MICHAEL A. NELSON, and RICHARD W. STRATTON, University of Akron--Weathering the Perfect Storm or Thriving in a New Environment: Assessing a Proficiency-Based Economics Major

LESTER HADSELL, State University of New York-Oneonta--The Economics Classroom without Grades: Promoting a Learning Environment by De-emphasizing Grades

WILLIAM P. O'DEA and DAVID W. RING, State University of New York-Oneonta--The Impact of Aplia on Student Performance in Intermediate Microeconomics Courses

Discussants: DAVID C. COLANDER, Middlebury College
STEPHEN BUCKLES, Vanderbilt University
MARY ELLEN BENEDICT, Bowling Green State University
WILLIAM BOSSHARDT, Florida Atlantic University


Jan. 4, 10:15 am
AEA/CEANA

Globalization, Global Imbalances and China (F3)

Presiding: YIN-WONG CHEUNG, University of California-Santa Cruz

JEFFREY FRANKEL, Harvard University--The Estimation of Weights in Asian Currency Baskets

ROBERTO CHANG, Rutgers University, and LUIS CESPEDES, Banco de Chile--Country Risk, Exchange Rates, and Economic Fluctuations in Emerging Economies

SHANG-JIN WEI, International Monetary Fund--The Domestic Financial System and International Capital Flows

ROBERT FEENSTRA, University of California-Davis, and CHANG HONG, International Monetary Fund--China's Trade and Employment

Discussants: NELSON MARK, University of Notre Dame
ESWAR PRASAD, Cornell University
JOSHUA AIZENMAN, University of California-Santa Cruz
LEONARD CHENG, Hong Kong University of Science and Technology


Jan. 4, 10:15 am
AEA/HERO

Performance Measurement in the Health Care Sector

Presiding: DONALD E. YETT, University of Southern California

MICHAEL CHERNEW and TERESA GIBSON, Harvard University--Cost Sharing and Health System Performance

KATHLEEN J. MULLEN, RICHARD FRANK, and MEREDITH B. ROSENTHAL, Harvard University--Can You Get What You Pay For? Pay-For-Performance and the Quality of Healthcare Providers

BURTON A. WEISBROD, Northwestern University--Performance in Collective-Good Markets for Charity Care, Education, and Research: Do Public, Nonprofit, and For-Profit Hospitals Differ?

Discussants: KEVIN VOLPP, University of Pennsylvania
RACHEL WARNER, University of Pennsylvania
DAVID MELTZER, University of Chicago


Jan. 4, 10:15 am
AEA/NEA

Macroeconomic Factors Impacting Poverty and Income Distribution among
African Americans

Presiding: GARY A. HOOVER, University of Alabama

WILLIAM M. RODGERS III, Rutgers University--The Impact of Monetary Policy on the Duration and Type of Unemployment by Race and Sex

REBECCA M. BLANK, University of Michigan, and DAVID CARD, University of California-Berkeley--Income, Family Structure, and Poverty among African Americans

PHILIP N. JEFFERSON, Swarthmore College--Poverty Volatility and Macroeconomic Quiescence

GARY A. HOOVER, WALTER ENDERS, University of Alabama, and DONALD G. FREEMAN, Sam Houston State University--Non-White Poverty and the Macroeconomy: The Impact of Growth

Discussants: MEL STEPHENS, Carnegie Mellon University
ALAN KRUEGER, Princeton University
HILARY HOYNES, University of California-Davis
WILLIAM SPRIGGS, Howard University


Jan. 4, 10:15 am
AFA

Market Timing and Corporate Finance

Presiding: MALCOLM BAKER, Harvard Business School

DIRK C. JENTER, Stanford University, KATHARINA LEWELLEN, Dartmouth College, and JEROLD B. WARNER, University of Rochester--Security Issue Timing: What Do Managers Know, and When Do They Know It?

STEFANO DELLAVIGNA, University of California-Berkeley, and JOSHUA MATTHEW POLLET , University of Illinois-Urbana-Champaign--Capital Budgeting vs. Market Timing: An Evaluation Using Demographics

AYDOGAN ALTI and JOHAN A. SULAEMAN, University of Texas-Austin--When Do High Stock Returns Trigger Equity Issues?

MICHAEL G. HERTZEL and ZHI LI, Arizona State University--Behavioral and Rational Explanations of Stock Price Performance Around SEOS: Evidence from a Decomposition of Market-to-Book Ratios

Discussants: RYAN TALIAFERRO, Harvard Business School
CHRISTOPHER POLK, London School of Economics & Political Science
JAY RITTER, University of Florida
MATTHEW RHODES-KROPF, Columbia University


Jan. 4, 10:15 am
AFA

Corporate Bankruptcy and Financial Distress

Presiding: ANTONIO BERNARDO, University of California-Los Angeles

VIRAL V. ACHARYA, London Business School, and KRISHNAMURTHY SUBRAMANIAN, Emory University--Bankruptcy Codes and Innovation

EFRAIM BENMELECH, Harvard University, and NITTAI BERGMAN, Massachusetts Institute of Technology--Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

DOUGLAS G. BAIRD, University of Chicago, ARTURO BRIS, IMD International, and NING ZHU, Yale School of Management--The Dynamics of Large and Small Chapter 11 Cases: an Empirical Study

Discussants: MARK GARMAISE, University of California-Los Angeles
ANDREA EISFELDT, Northwestern University
PER STRÖMBERG, Swedish Institute for Financial Research


Jan. 4, 10:15 am
AFA

Information Flows in Institutional Portfolios

Presiding: MARCIN KACPERCZYK, University of British Columbia

ANDREA FRAZZINI, University of Chicago, CHRISTOPHER J. MALLOY, and LAUREN COHEN, Harvard Business School--The Small World of Investing: Board Connections and Mutual Fund Returns

VICTORIA IVASHINA, Harvard Business School, and ZHENG SUN, New York University--Institutional Investors and Loan Market Information Spillover

SWASTI GUPTA-MUKHERJEE, Georgia Institute of Technology--Informal Information Networks: The Impact on Performance of Mutual Fund Portfolios

Discussants: CLEMENS SIALM, University of Texas-Austin
MURRAY CARLSON, University of British Columbia
AMIT SERU, University of Chicago


Jan. 4, 10:15 am
AFA

Empirical Asset Pricing in the Cross-Section and Time Series

Presiding: ANNETTE VISSING-JORGENSEN, Northwestern University

JOAO F. GOMES, University of Pennsylvania, LEONID KOGAN, Massachusetts Institute of Technology, and MOTOHIRO YOGO, University of Pennsylvania--Durability of Output and Expected Stock Returns

HANNO N. LUSTIG, University of California-Los Angeles, STIJN VAN NIEUWERBURGH, New York University, and ADRIEN VERDELHAN, Boston University--The Wealth-Consumption Ratio: A Litmus Test for Consumption-Based Asset Pricing Models

LORENZO GARLAPPI, University of Texas-Austin, and HONG YAN, University of South Carolina--Financial Distress and the Cross Section of Equity Returns

Discussants: STIJN VAN NIEUWERBURGH, New York University
DANA KIKU, University of Pennsylvania
LU ZHANG, University of Michigan-Ann Arbor


Jan. 4, 10:15 am
AFA

International Stock Markets

Presiding: GEERT BEKAERT, Columbia University

SANJEEV BHOJRAJ and DAVID NG, Cornell University--Country Factors in Firm Valuation Ratios

KEE-HONG BAE, ARZU OZOGUZ, and HONGPING TAN, Queen's University--Do Foreigners Facilitate Information Transmission?

JOHN M. GRIFFIN, University of Texas-Austin, PATRICK J. KELLY, University of South Florida, and FEDERICO NARDARI, Arizona State University--Measuring Short-Term International Stock Market Efficiency

LOUIS JOSEPH GAGNON, Queen's University, GEORGE ANDREW KAROLYI, and KUAN-HUI LEE, Ohio State University--The Dynamic Volume-Return Relationship of Individual Stocks: The International Evidence

Discussants: STEPHAN SIEGEL, University of Washington
KATHY YUAN, University of Michigan-Ann Arbor
RANDALL MORCK, University of Alberta
JOHN GRIFFIN, University of Texas-Austin


Jan. 4, 10:15 am
AFA/AFE

Dividends

Presiding: KOSE JOHN, New York University

BO BECKER, ZORAN IVKOVICH, and SCOTT J. WEISBENNER, University of Illinois-Urbana-Champaign--Local Dividend Clienteles

AMIR RUBIN and DANIEL R. SMITH, Simon Fraser University--Institutional Ownership, Volatility and Dividends

DAVID J. DENIS, NAVEEN D. DANIEL, and LALITHA NAVEEN, Purdue University--Do Firms Manage Earnings to Meet Dividend Thresholds?

GUSTAVO GRULLON, Rice University, and RONI MICHAELY, Cornell University--Corporate Payout Policy and Product Market Competition

Discussants: JEFFREY WURGLER, New York University
YANIV GRINSTEIN, Cornell University
ANZHELA KNYAZEVA, New York University
GORDON PHILLIPS, University of Maryland


Jan. 4, 10:15 am
AREUEA

Housing Market Dynamics (R3)

Presiding: MORRIS DAVIS, University of Wisconsin

STUART GABRIEL, University of California-Los Angeles, CHRISTIAN L. REDFEARN, University of Southern California, and RICHARD K. GREEN, George Washington University--Fundamentals, Financial Innovations, and Constraints: A Taxonomy of Metropolitan House Price Dynamics

ZHENGUO LIN, ANDRE H. GAO, CHIONGLONG KUO, and FANGZHOU CARRIE NA, Fannie Mae--Housing Market Dynamics: Fundamental Price, Overvaluation, Mean Reverting, and Downward Rigidity

NANCY E. WALLACE and DONALD WALLS, University of California-Berkeley--The Dynamics of Job Creation and Destruction over the Size Distribution of Cities

NORMAN MILLER, University of Cincinnati, and LIANG PENG, University of Colorado-Boulder--Time Varying Trading Volume and the Economic Impact of the Housing Market

Discussants: MARCO DEL NEGRO, Federal Reserve Bank of New York
PAUL WILLEN, Federal Reserve Bank of Boston
IOURII MANOVSKII, University of Pennsylvania
TONI WHITED, University of Wisconsin


Jan. 4, 10:15 am
AREUEA

Default Risk (G1)

Presiding: AMY CREWS CUTTS, Freddie Mac

CYNTHIA HOLMES, Florida State University, and MICHAEL LACOUR-LITTLE, California State University-Fullerton--An Empirical Test of the Equity Dilution Hypothesis

TYLER YANG, IFE Group, CHE-CHUN LIN, National Tsing Hua University, and MAN CHO, KDI School--Default Risk and Relative Values of Exotic Mortgage Products: A Multi-Factor Simulation Approach

JUN CHEN and JINBAO TONG, Property & Portfolio Research, Inc.--The Spatial Dependency of Loss Given Default of Commercial Mortgages

V. CARLOS SLAWSON, JR., Louisiana State University--Underwater Mortgages

Discussants: JAMES BERKOVEC, Freddie Mac
ROBERT VAN ORDER, University of Michigan
JAMES FOLLAIN, James R. Follain LLC
AMY CREWS CUTTS, Freddie Mac


Jan. 4, 10:15 am
ACES

Employment and Poverty in Ukraine: Evidence from Firm- and Household-Level
Data (P3)

Presiding: JAN SVEJNAR, University of Michigan

J. DAVID BROWN, Heriot-Watt University, and JOHN S. EARLE, Central European University--Innovation in Transition: Evidence from Firm-Level Data in Ukraine

AMELIE CONSTANT, MARTIN KAHANEC, and KLAUS F. ZIMMERMAN, THOMAS DOHMEN, Institute for the Study of Labor--The Russian-Ukrainian Labor Market Divide

HARTMUT LEHMANN and NORBERTO PIGNATTI, University of Bologna--Informal Employment and Labor Market Segmentation in Transition Economies: Evidence from Ukraine.

TILMAN BRUCK, ALEXANDER DANZER, ALEXANDER MURAVYEV, and NATALIA WEISSHAAR, German Institute for Economic Research, Berlin--Determinants of Poverty During Transition: Household Survey Evidence from Ukraine

Discussants: KATHERINE TERRELL, University of Michigan
ELIZABETH BRAINERD, Williams College
RICHARD POMFRET, University of Adelaide


Jan. 4, 10:15 am
AEDSB

Intra-Household Development Issues in Bangladesh

Presiding: Farida Khan, University of Wisconsin-Parkside

SHAREEN JOSHI, University of Chicago, and T. PAUL SCHULTZ, Yale University--Family Planning as an Investment in Development: Evaluation of a Program's Consequences in Matlab, Bangladesh

SIWAN ANDERSON and MUKESH ESWARAN, University of British Columbia--What Determines Female Autonomy? Evidence from Bangladesh

MARK M. PITT, Brown University, MARK R. ROSENZWEIG, Yale University, MD. NAZMUL HASSAN, Dhaka University--Short- and Long-Term Health Effects of Burning Biomass in the Home in Low-Income Countries

MUHAMMAD YUNUS, Grameen Bank--A Special Presentation by the Founder of the Grameen Bank

Discussant: SHAHE EMRAN, George Washington University


Jan. 4, 10:15 am
AFEE

How to Turn Economics into an Evolutionary Science? (B5)

Presiding: MALCOLM RUTHERFORD, University of Victoria

GEOFFREY HODGSON, University of Hertfordshire--How Veblen Generalized Darwinism

JAN-WILLEM STOELHORST, University of Amsterdam--Darwinian Foundations for Evolutionary Economics

ULRICH WITT, Max Planck Institute of Economics and University of Jena--Ontology and Heuristics in Evolutionary Economics: Back to Veblen?

CHRISTIAN CORDES, Max Planck Institute of Economics--The Role of Biology and Culture in Consumption Behavior

CLIFFORD S. POIROT JR., Shawnee State University--Eat Grubs and Live: The Habit-Instinct Problem in Evolutionary Economics

Discussants: MALCOLM RUTHERFORD, University of Victoria
WILLIAM WALLER, Hobart and William Smith Colleges


Jan. 4, 10:15 am
ASE/IAFFE

Gender, Institutions, and Economics in the Early Years (B5)

Presiding: DEB FIGART, Richard Stockton College

NANCY FOLBRE, University of Massachusetts-Amherst--Declaring Independence: Feminist Economics in the 19th Century U.S.

ANN MARI MAY and ROBERT DIMAND, Brock University--Managing "Trouble": Gender, Mentoring, and Professional Advancement in the Early Years of the American Economic Association

EDITH KUIPER, Amsterdam School of Economics, University of Amsterdam--Toward Economic Citizenship: Feminist Economists in the Days of Adam Smith

RHONDA VONSHAY SHARPE, University of Vermont, WILLIAM A. DARITY, JR., Duke University, and OMARI SWINTON, Howard University--Are the Professional Paths of Doctorates Who Attended HBCUs, Hispanic Serving Institutions (HIS), or Women Colleges Different?

Discussants: EVELYN FORGET, University of Manitoba
ROBERT PRASCH, Middlebury College


Jan. 4, 10:15 am
AERE

Land Use Change, Urban Sprawl, and Open Space (Q2)

Presiding: MARGARET WALLS, Resources for the Future

ELENA SAFIROVA, WINSTON HARRINGTON, SÉBASTIEN HOUDE, and CONRAD COLEMAN, Resources for the Future--Can Infill Fill the Gap? Evaluating Urban Growth Management Policies in a General Equilibrium Model of Land Use and Transportation

JORDAN SUTER, NELSON L. BILLS, DAVID L. KAY, and GREGORY L. POE, Cornell University--Assessing the Impact of Open Space on Residential Property Values in Urban, Suburban and Rural Areas: A Hedonic Pricing Study in Upstate New York

ANTONIO BENTO, Cornell University, SOFIA FRANCO, and DANIEL KAFFINE, University of California, Santa Barbara--Framework for Evaluating the Efficiency and Distributional Impacts of Anti-Sprawl Policies

SPENCER BANZHAF, Georgia State University, and R. WALSH--Distributional Effects of Local Environmental Improvements in Tiebout General Equilibrium

Discussants: JAN BRUECKNER, University of California-Irvine
JACQUELINE GEOGHEGAN, Clark University
RICHARD ARNOTT, Boston College
ANNA ALBERINI, University of Maryland


Jan. 4, 10:15 am
ACE

The Virtues in Economics

Presiding: ROBERT MOCHRIE, Heriot-Watt University, UK

GORDON MENZIES, University of Technology, Sydney, and DONALD HAY, University of Oxford--Economics and the Marriage Wars

DEIRDRE MCCLOSKEY, University of Illinois-Chicago--On Faith and Hope

ANDREW YUENGERT, Pepperdine University--Models of Prudence

ROBERT MOCHRIE, Heriot-Watt University, UK--Temperance and the Godly Commonwealth

Discussants: CARRIE MILES, George Mason University
PAUL OSLINGTON, University of New South Wales and Australian Defence Forces Academy
JAMES HALTEMAN, Wheaton College
PATRICK RAINES, Belmont University


Jan. 4, 10:15 am
AIES

Industry Studies (L1, L6)

Presiding: SUHAS L. KETKAR, Vanderbilt University

BANANI NANDI, AT&T Labs, and CHANDANA CHAKRABORTY, Montclair State University--Broadband Diffusion and Its Driving Forces

KUSUM KETKAR, Vanderbilt University--Outsourcing and Economic Development

GOVINDA KOIRALA, University of Rio Grande--Inter-industry Wage Gap and Skill Upgrading in Nepalese Manufacturing

SHAILENDRA GAJANAN, University of Pittsburgh, and DEVENDER MALHOTRA, University of Southern Maine--Size, Relative Dependency and Openness

DHARMENDRA DHAKAL, Tennessee State University, KISHORE KULKARNI, Metropolitan State College of Denver, and KAMAL UPADHYAYA, University of New Haven--Consumption Pattern in an Open Economy Setting

Discussants: AMIT BATABYAL, Rochester Institute of Technology
APARAJITA NANDI, Queens College, City University of New York
SUSHANTA MALLICK, University of London
MEENAKSHI RISHI, Seattle University


Jan. 4, 10:15 am
ES

Paired Invited Session: Frontiers of Monetary Economics (E5)

Presiding: GEORGE-MARIOS ANGELETOS, Massachusetts Institute of Technology,

NEIL WALLACE, Pennsylvania State University--A New Model of Central-Bank Intervention

RANDALL WRIGHT, University of Pennsylvania--Inflation and Unemployment in the Long Run

Discussant: NOBUHIRO KIYOTAKI, Princeton University


Jan. 4, 10:15 am
ES

Paired Invited Session: Combining Structural Models and Experimental Data (C0)

Presiding: EDWARD VYTLACIL, Columbia University

COSTAS MEGHIR, University College, London--Estimating Dynamic Models using Experimental Data

KEN WOLPIN, University of Pennsylvania--Ex Ante Policy Evaluation

Discussant: JOSEPH ALTONJI, Yale University


Jan. 4, 10:15 am
ESA

Experiments in Political Economy (D7)

Presiding: LEEAT YARIV, California Institute of Technology

GUILLAUME FRECHETTE, New York University, JOHN KAGEL, and MASSIMO MORELLI, Ohio State University--Pork Versus Public Goods: An Experimental Study of Public Good Provision Within a Legislative Bargaining Framework

JENS GROSSER, Florida State University, and THORSTEN GIERTZ, University of Cologne--Candidates, Voters, and Endogenous Group Formation: An Experimental Study

MARGARET MCCONNELL, BON CHAN KOH, JULIAN ROMER, and LEEAT YARIV, California Institute of Technology--Getting Out the (Costly) Vote: Institutional Design for Greater Participation

Discussants: MARCO BATTAGLINI, Princeton University
NAGEEB ALI, University of California-San Diego
NAVIN KARTIK, University of California-San Diego


Jan. 4, 10:15 am
EPS

The Plight of the Soldier

Presiding: THEA HARVEY, Economists for Peace and Security

LAWRENCE KORB, Center for American Progress--The All Volunteer Force and the Long War: When and How Should We Reinstitute Conscription?

MAJOR GENERAL PAUL EATON, United States Army (ret.)--The American Soldier: Carrying the Entire Load for the Bush Administration?

DAVID LOUGHRAN, RAND Corporation, and JACOB KLERMAN, Abt Associates--The Effect of Activation on the Post-Activation Earnings of Reservists

LINDA BILMES, Harvard University--Veterans from Iraq and Afghanistan: Impediments to Securing Disability Benefits and Medical Care


Jan. 4, 10:15 am
HES/AFA

What Was/Is Financial Economics? (B2)

Presiding: STEPHEN BUSER, Ohio State University

GEOFFREY POITRAS, Simon Fraser University, and FRANCK JOVANOVIC, University of Quebec-Montreal--Pioneers of Financial Economics

HICHEM BEN-EL-MECHAIEKH and ROBERT DIMAND, Brock University--Louis Bachelier's 1938 Volume on the Calculus of Speculation: Efficient Markets and Mathematical Finance in Bachelier's Later Work

PETER BERNSTEIN, Peter L. Bernstein, Inc.--In the Thick of This World: The True Story of Modern Finance

PERRY MEHRLING, Barnard College, Columbia University--The Spirit of Finance and the Development of Macroeconomics


Jan. 4, 10:15 am
IAEE

Hot Topics in Energy Modeling (Q4)

Presiding: CAROL DAHL, Colorado School of Mines

REID W. CLICK and ROBERT J. WEINER, George Washington University--Resource Nationalism Meets the Market: Modeling Political Risk and the Value of Petroleum Reserves

ERIN BAKER, University of Massachusetts, HAEWON CHON, University of Maryland, LEON CLARKE, Joint Global Change Research Institute, and JEFFREY KEISLER, University of Massachusetts--Uncertainty, Climate Change, and Advanced Solar R&D

THOMAS K. LEE, Marymount University, and JOHN ZYREN, U. S. Energy Information Administration--The Source and Transmission of Volatility in Petroleum Markets

CYNTHIA LIN, University of California-Davis--Do Firms Interact Strategically?: A Structural Model of the Multi-Stage Investment Timing Game in Offshore Petroleum Production

Discussants: DOUGLAS REYNOLDS, University of Alaska-Fairbanks
JAMES L. SMITH, Southern Methodist University
FREDERICK L. JOUTZ, George Washington University
WUMI ILEDARE, Louisiana State University


Jan. 4, 10:15 am
INEM

Preferences and Behavior: Methodological Issues

Presiding: JOHN B. DAVIS, Marquette University

GRAIG MCLAREN, University of California-Riverside--The Problem with Preferences

ERIK ANGNER, University of Alabama-Birmingham--The Foundations of Behavioral Welfare Economics

WOLFRAM LATSCH, University of Washington--Beyond Compare: Amartya Sen on Ranking and Reflection

FREDRIK HANSEN, Swedish National Road and Transport Research Institute--Formalization and Bounded Rationality: From an Ontological Point of View

Discussants: JOHN B. DAVIS, Marquette University


Jan. 4, 10:15 am
ISIR

Recent Advances in Inventory Research (E3)

Presiding: ANDREAS HORNSTEIN, Federal Reserve Bank of Richmond

JAMES KAHN, Federal Reserve Bank of New York--Inventories and the Great Moderation Revisited

ANA MARIA HERRERA, Michigan State University, ZHENG LIU, and ELENA PESAVENTO, Emory University--Production Chains and the Business Cycles: A Model of Input and Output Inventories

VALERIE A. RAMEY, University of California San Diego, and DANIEL J. VINE, Federal Reserve Board--Segment Shifts and Capacity Utilization in the U.S. Automobile Industry: What Has Changed in 30 Years?

Discussants: ELENA PESAVENTO, Emory University
SCOTT SCHUH, Federal Reserve Bank of Boston
GEORGE HALL, Brandeis University


Jan. 4, 10:15 am
ISNIE

Legal Institutions and Economic Performance (K0, O0)

Presiding: DEAN LUECK, University of Arizona

JASON JOHNSTON, University of Pennsylvania, and MICHAEL FAURE, Maastricht University--Fashioning Entitlements: A Comparative Law and Economic Analysis of the Judicial Role in Environmental Centralization in the US and Europe

JONATHAN KLICK, Florida State University, BRUCE KOBAYASHI, George Mason University, and LARRY RIBSTEIN, University of Illinois--The Effect of Contract Regulation: The Case of Franchising

GARY D. LIBECAP, University of California-Santa Barbara, and DEAN LUECK, University of Arizona--Controlled versus Indiscriminate Property Demarcation: The Economic Effects of the Rectangular Survey

ANUP MALANI University of Chicago--Expectation of Future Laws


Jan. 4, 10:15 am
LERA

Labor Market Consequences of Organizational Change

Presiding: ANN BARTEL, Columbia University

MARIA GUADALUPE, Columbia University--The Demand for Talent Evidence from the Market for CEOs

JED DEVARO, Cornell University--Job Characteristics and Labor Market Discrimination in Promotions: New Theory and Empirical Evidence

ALEXANDRE MAS, University of California-Berkeley--The Dynamics of Social Interactions in the Workplace

Discussants: KEVIN HALLOCK, Cornell University
STEPHANIE LLUIS, University of Waterloo



Jan. 4, 10:15 am
LERA

Employee Voice and Participation in Organizations: New Approaches and Perspectives

Presiding: PAUL J. GOLLAN, London School of Economics and Macquarie University, Sydney

JOHN W. BUDD, University of Minnesota, and STEFAN ZAGELMEYER, International University of Applied Sciences Bad Honnef-Bonn--Employee Voice is Not a Purely Private Affair: Public Policy Rationales and Initiatives in Support of Employee Participation

RICHARD N. BLOCK and PETER BERG, Michigan State University--Collective Bargaining as Employee Participation in Organizations

DAVID LEWIN, University of California-Los Angeles--Employee Voice and Mutual Gains

ALEX BRYSON, Policy Studies Institute, RAFAEL GOMEZ, and PAUL WILLMAN, London School of Economics--Voice in the Wilderness

Discussants: BRUCE KAUFMAN, Georgia State University


Jan. 4, 10:15 am
LERA

Rebuilding America's Industrial Regions

Presiding: FRANK GIARRATANI, University of Pittsburgh

DAN LURIA, Michigan Manufacturing Technology Center--Full-Utilization Learning Lean: A Strategy for the Revitalization of Manufacturing in the Great Lakes Region

HOWARD WIAL, Brookings Institution--The Role of Services in the Economic Development of Industrial Regions

SEAN SAFFORD, University of Chicago--Unions and Economic Development in the Rust Belt

Discussants: SUSAN HELPER, Case Western Reserve University
ERICA GROSHEN, Federal Reserve Bank of New York


Jan. 4, 10:15 am
MEEA

Open Economy Macroeconomics Issues in the MENA Region (F4)

Presiding: HADI SALEHI ESFAHANI, University of Illinois at Urbana-Champaign

WASSEEM MINA, UAE University--Does Property Rights Protection Matter for International Lending in the MENA Region?

MOHAMMED SALISU, LOBNA BOUSRIH, and SANA HARRABI, African Development Bank--Determinants of Firm Performance in Egypt and Algeria: Evidence from Investment Climate Survey Data

FIRAT DEMIR, University of Oklahoma--Profitability and Employment Responses to Financial Liberalization and Macroeconomic Volatility in Turkey

GHAZI BOULILA, AFRAH LARNAOUT GOUIDER, and MOHAMED TRABELSI, University of Tunis--Capital Account Liberalization and Business Cycles Volatility

YASMINA REEM LIMAM, MOHAMED TRABELSI, and AFRAH LARNAOUT GOUIDER University of Tunis--Does Capital Account Liberalization Promote Growth?

SAMY BEN NACEUR, University of Tunis Carthage, SAMIR GHAZOUANI, University of Manouba, and MOHAMMED OMRAN, Cairo and Alexandria Stock Exchange--Does Stock Market Liberalization Spur Economic and Financial Development?

Discussants: NAGLA RIZK, American University in Cairo
AYCA TEKIN-KORU, Oregon State University
HASSAN ALY, Ohio State University
MINE CINAR, Loyola University of Chicago
SUUT DOGRUEL, Marmara University
ALI M. KUTAN, Southern Illinois University-Edwardsville


Jan. 4, 10:15 am
NABE

Accounting for Stock Options in the National Income Accounts

Presiding: ROSEMARY D. MARCUSS, U.S. Bureau of Economic Analysis

CYNTHIA A. GLASSMAN, U.S. Department of Commerce

S.P. KOTHARI, Massachusetts Institute of Technology

Discussants: R. GLENN HUBBARD, Columbia University


Jan. 4, 10:15 am
NAEFA

Financial Stability and Contagion (G1)

Presiding: SEAN CAMPBELL, Federal Reserve Board

CHARLES KAHN, University of Illinois, and JOAO SANTOS, Federal Reserve Bank of New York--Endogenous Financial Fragility and Prudential Regulation

JOHN AMMER, CLARA VEGA , Federal Reserve Board, and JON WONGSWAN, Barclays Global Investors--Do Fundamentals Explain the International Impact of U.S. Interest Rates? Evidence at the Firm Level

DIANA HANCOCK and WAYNE PASSMORE, Federal Reserve Board--The Measurement of Systemic Risks in Banking

SUJIT CHAKRAVORTI, Federal Reserve Bank of Chicago, and SUBIR LALL, International Monetary Fund--Contagion Across Small Markets from Large Foreign Investors

Discussants: NED PRESCOTT, Federal Reserve Bank of Richmond
ALESSIA FALSARONE, Citigroup
LOUIS SCOTT, Morgan Stanley
MATT PRITSKER, Federal Reserve Board


Jan. 4, 10:15 am
ODE

John R. Commons Lecture and Award

Presiding: ROBERT R. EBERT, Baldwin-Wallace College

RACHEL MCCULLOCH, Brandeis University--Globalization and Inequality


Jan. 4, 10:15 am
SED

New Developments in Labor Market Research

Presiding: GUIDO MENZIO, University of Pennsylvania

RICHARD ROGERSON and JOHANNA WALLENIUS, Arizona State University--Micro and Macro Elasticities in a Life Cycle Model with Taxes

PER KRUSELL, Princeton University, AYSEGUL SAHIN, and TOSHI MUKOYAMA, Federal Reserve Bank of New York--Wealth and Wages: A Search-Matching Perspective

MARK BILS, University of Rochester, YONGSUNG CHANG, Seoul National University, and SUN-BIN KIM, Korea University--Comparative Advantage in Cyclical Unemployment

GUIDO MENZIO, University of Pennsylvania, and SHOUYONG SHI, University of Toronto--Heterogeneity and Aggregate Fluctuations in a Directed Search Equilibrium


Jan. 4, 10:15 am
SGE

Economic Instability among U.S. Workers and Families

Presiding: JONATHAN A. SCHWABISH, Congressional Budget Office

KAREN E. DYNAN, DOUGLAS W. ELMENDORF, and DANIEL E. SICHEL, Federal Reserve Board--The Evolution of Aggregate and Household-Level Economic Volatility

THOMAS DELEIRE, MOLLY DAHL, and JONATHAN SCHWABISH, Congressional Budget Office--Variability in Workers' Earnings: The Frequency of, Trends in, and Causes of Large Earnings Reductions

CONSTANCE NEWMAN, DEAN JOLLIFFE, and MARK PRELL, U.S. Department of Agriculture--The Role of Food Stamps in Reducing Poverty over Time

Discussants: MAURY GITTLEMAN, U.S. Bureau of Labor Statistics
AUSTIN NICHOLS, Urban Institute
CRAIG GUNDERSEN, Iowa State University


Jan. 4, 10:15 am
URPE

Economic Policies in Venezuela (O5)

Presiding: AL CAMPBELL, University of Utah

ROSE MARIA MARQUES, Pontifica Universidade Catolica de Sao Paolo--Social Policies and Inequalities in Venezuela

PAULO NAKATANI, Federal University of Espirito Santo, Brazil--Structures, Changes, and Planning of the Economy of Revolutionary Venezuela

MAURICIO SABADINI, University of Paris I--Oil, Money and Finance in the Boliviarian Revolution of Venezuela

FELIX RIVAS, Central Bank of Venezuela, Caracas--The Monetary and Financial Policy of Venezuela

Discussants: AL CAMPBELL, University of Utah
REMY HERRERA, University of Paris I


Jan. 4, 10:15 am
URPE

Toward a Political Economy of Stratification (J3)

Presiding: AJIT ZACHARIAS, Levy Economics Institute of Bard College

WILLIAM DARITY, JR., University of North Carolina-Chapel Hill--Stratification Economics: The Role of Intergroup Inequality

MELISSA MAHONEY, Levy Economics Institute of Bard College and New School for Social Research, and AJIT ZACHARIAS, Levy Economics Institute of Bard College--Gender Disparities in Employment and Aggregate Profitability in the United States

PATRICK MASON, Florida State University--Social Capital and Intergenerational Mobility

STEPHANIE SEGUINO, University of Vermont--The Threads That Bind: Race and Gender Stratification and the Macroeconomics of Inequality

Discussants: EDWARD WOLFF, Levy Economics Institute of Bard College and New York University
DIMITRI PAPADIMITRIOU, Levy Economics Institute of Bard College
KORKUT ERTURK, University of Utah


Jan. 4, 12:30 pm
AAEA

Three Drivers of Distributional Shifts in Domestic Agricultural Policy (Q1)

Presiding: KEITH H. COBLE, Mississippi State University

BRUCE BABCOCK, Iowa State University--The Distributional Impacts of Biofuels

KEITH COBLE, Mississippi State University, and ROBERT DISMUKES, USDA-ERS--Comparing Integrated Commodity and Insurance Programs with Current Farm Policy

BARRY GOODWIN, North Carolina State University--The Incidence and Implications of Payment Limits

Discussant: JOE GLAUBER, USDA


Jan. 4, 12:30 pm
AEA/AFA

Joint Luncheon

Presiding: JEREMY STEIN, Harvard University

R. GLENN HUBBARD, Columbia University


Jan. 4, 12:30 pm
AEA/ODE

ODE Invited Graduate Student Papers: Health and Environmental Issues (H0)

Presiding: ROBERT S. RYCROFT, University of Mary Washington

RASHMITA BASU and ROBERT ROSENMAN, Washington State University--Role of Healthy Lifestyle on Individual Decision Making for Disease Prevention: Implications for Government Policy on Alzheimer's Disease

JASON DELANEY and PAUL J. FERRARO, Georgia State University--Is Information News? A Reassessment of the Impact of the Toxics Release Inventory on Firm Value

JUERGEN JUNG and CHUNG TRAN, Indiana University--The Macroeconomics of Health Savings Accounts

MATTHEW SULZICKI, University of New Hampshire--Air Pollution and Elderly Health: The Effect of Outdoor Air Quality on Medicare Beneficiaries in Boston, Massachusetts

Discussants: XIAOXUN GAO, Indiana University
MARTIN PAREDES, New York University
SEAN MURPHY, Washington State University
JAMES MURRAY, Indiana University


Jan. 4, 12:30 pm
AREUEA

Mortgage Pricing (G1)

Presiding: FRANK E. NOTHAFT, Freddie Mac

BARBARA A. BUKHVALOVA, Norwegian School of Management--Competitive Risk Premiums, Monitoring Costs and Lifetime Utility Maximization

JAMES IAN VICKERY, Federal Reserve Bank of New York--How Do Financial Frictions Shape the Product Market? Evidence from Mortgage Originations

ANDREA J. HEUSON, University of Miami--Mortgage Market Conditioning Variables and the Underwriting Spreads Faced by GSEs

SIMON FIRESTONE and PAUL CALEM, Freddie Mac--Credit Constraints and Homeownership

Discussants: To be announced.


Jan. 4, 12:30 pm
ACES

Economic and Reform of Large Countries: China and India's Recent Experiences (P5)

Presiding: JOHN BONIN, Wesleyan University

ALICIA GARCIA-HERRERO, SERGIO GAVILA, and DANIEL SANTABARBARA, Bank of Spain, Spain--What Explains The Low Profitability of Chinese Banks?

RICHARD ECKAUS, Massachusetts Institute of Technology--The Demand for the Exports of China and India

YASHENG HUANG, Massachusetts Institute of Technology, and DAVID LI, Tsinghua University--R&D Investment and Efficiency: A China-India Comparison

JOHN SUTTON, London School of Economics--The Advance of Manufacturing Capabilities in China and India

Discussants: GERARD ROLAND, University of California-Berkeley
JAN SVEJNAR, University of Michigan
YUMIKO OKAMOTO, Doshisha University, Japan


Jan. 4, 12:30 pm
ASE

Globalization, Public Policy, and Inequality (F1)

Presiding: HAMID HOSSEINI, King's College

HAMID HOSSEINI, King's College--Rawlsian Ethics versus Utilitarianism: How Can the Global Economic Structure Become More Just?

OZLEM L. SARI, TUBITAK -- The Scientific and Technological Council of Turkey--Multicultural Sentiment and Anti-Immigrant Policies: Explaining Exclusionist Policy Orientations in Western European Countries

LISA MAGNANI, University of New South Wales--Global Public Goods and Public Policy. Understanding the Effect of Demographic Trends and Labour Market Institutions on the Demand for Public Environmental Protection

WIM HEIJMAN and JAN VAN OPHEM, Wageningen University--Income and Happiness: Puzzles and Paradoxes

Discussants: JANE CLARY, College of Charleston
ROBERT MCMASTER, University of Glasgow


Jan. 4, 12:30 pm
AERE

Regulation, Enforcement, and Public Disclosure (Q5)

Presiding: CARL PASURKA, JR., U.S. Environmental Protection Agency

DIETRICH EARNHART, University of Kansas, and DYLAN RASSIER, U.S. Bureau of Economic Analysis--The Effect of Environmental Regulation on Corporate Financial Performance: Short-Run versus Long-Run Implications

CHRISTIAN LANGPAP, Oregon State University, and JAY SHIMSHACK, Tufts University--The Role of Private Enforcement in Environmental Regulation

ARUN MALIK, George Washington University--The Desirability of Forgiveness in Regulatory Enforcement

NICHOLAS POWERS, University of Michigan, ALLEN BLACKMAN, Resources for the Future, THOMAS LYON, University of Michigan, and URVASHI NARAIN, Resources for the Future--Does Public Disclosure Reduce Pollution? Evidence from India's Pulp and Paper Industry

Discussants: KAREN PALMER, Resources for the Future
WAYNE GRAY, Clark University
THOMAS LYON, University of Michigan
JOSHUA LINN, University of Illinois- Chicago


Jan. 4, 12:30 pm
CES

Microeconomics of Economics Development (O1)

Presiding: XIAO-YUAN DONG, University of Winnipeg

HUIYA CHEN, University of California-Davis and Reed College, and DEBORAH L. SWENSON, University of California-Davis and NBER--Multinational Firms and New Chinese Export Transactions

FENG-LIAN DU, Inner Mongolia University, and XIAO-YUAN DONG, University of Winnipeg--Why Women Have Longer Unemployment Durations than Men in Post-restructuring Urban China

YOUNGJUN CHEN, Renmin University of China and Johns Hopkins University--Antitrust and Regulation: The Experience of U.S. and Its Implications for China

XIAOQIANG CHENG, University of Leuven, and HANS DEGRYSE, CentER, Tilburg University, and TILEC, University of Leuven--Informational Barriers and Credit Rationing in the Market for Credit Cards

Discussants: HUIYA CHEN, University of California-Davis and Reed College
JACK HOU, California State University-Long Beach
DENNIS T. YANG, Virginia Tech and Chinese University of Hong Kong
VANESSA YANHUA ZHANG, LECG


Jan. 4, 12:30 pm
EHA

Money, Finance, and Equity

Presiding: PETER ROUSSEAU, Vanderbilt University

DAVID CHAMBERS, Oxford University, and ELROY DIMSON, London Business School--Keynes the Investor

CAROLINE FOHLIN, Johns Hopkins University, TOBIAS BRÜNNER, and THOMAS GEHRIG, University of Freiburg--Asymmetric Information and the Costs of Trading in the New York Stock Exchange, 1900-1910

FARLEY GRUBB, University of Delaware--The Continental Dollar: What Happened to It after 1779?

DAN LI, Boston University--The Costs of Civil Wars: Micro Evidence from Chinese National Railroads, 1906-1923

Discussants: MICHAEL EDELSTEIN, Queens College
ANDREY UKHOV, Indiana University
PETER ROUSSEAU, Vanderbilt University
SE YAN, University of California-Los Angeles


Jan. 4, 12:30 pm
HES

Keeping the Faith: The Continuing Engagement of Economics with Religion (B1)

Presiding: SPENCER BANZHAF, Georgia State University

STEPHEN MEARDON, Bowling Green State University--Whence Commerce Followed the Missionary: Religions Origins of Doctrines of U.S. Trade and Expansion

HARRO MAAS, Amsterdam School of Economics--A Hard Battle to Fight: The Dismal Science in Cambridge 1820-1850

DANIELA PARISI, Catholic University of Milan--Economics to the Service of Humankind: The Political Economy of Francesco Vito

Discussants: BRAD BATEMAN, Grinnell College
PAUL OSLINGTON, University of New South Wales
SPENCER BANZHAF, Georgia State University

Jan. 4, 12:30 pm
IOS

Patenting, Productivity, and Public Policy (O3)

Presiding: FRANCINE LAFONTAINE, University of Michigan

IAIN M. COCKBURN and MEGAN J. MACGARVIE, Boston University--Entry, Exit and Patenting in the Software Industry

MARIKO SAKAKIBARA, University of California-Los Angeles--Assessing the Role of University Patent Rights: U.S.-Japan Comparison of University-Industry Knowledge Transfer

NATARAJAN BALASUBRAMANIAN, Florida International University, and JAGADEESH SIVADASAN, University of Michigan--Patenting and Firm Growth: An Exploration

Discussants: SHANE GREENSTEIN, Northwestern University
ARVIDS ZIEDONIS, University of Michigan
SCOTT STERN, Northwestern University


Jan. 4, 12:30 pm
KAEA

Consumption, Investment and Real Exchange Rates (F4)

Presiding: SUNGHYUN H. KIM, Tufts University

JOONG SHIK KANG, International Monetary Fund--Consumption and Real Exchange Rates in an Economy with Private Information

TAEYOUNG DOH, Federal Reserve Bank of Kansas City--Yield Curve in a Macroeconomic Equilibrium Model

SIMON GILCHRIST, Boston University, and JAE W. SIM, Federal Reserve Board--Investment during the Korean Financial Crisis: A Structural Econometric Approach

JAEBEOM KIM, Oklahoma State University, and YOUNG-KYU MOH, Texas Tech University--Nonlinear Dynamics of Real Exchange Rates for Traded and Non-traded Goods

Discussants: JAEWOO LEE, International Monetary Fund
TACK YOON, Federal Reserve Board
JEONG-JOON LEE, Towson University
YOOSOON CHANG, Texas A&M University


Jan. 4, 12:30 pm
NAEFA

The Credit Channel and Macroeconomic Consequences (E5)

Presiding: DIANA HANCOCK, Federal Reserve Board

JUHA KILPONEN, Bank of Finland, and ALISTAIR MILNE, City University London and Bank of Finland--The Lending Channel and Optimal Choice of Monetary Policy

BERRAK BUYUKKARABACAK, Emory University, and NEVEN VALEV, Georgia State University--Credit Expansions and Financial Crises: The Roles of Household and Firm Credit

MUHAMMAD MUSTAFA, South Carolina State University, and MATIUR RAHMAN, McNeese State University--Linkages Among Stock Market Wealth, Consumer Sentiment, and U.S. Durable Goods

ULF VON KALCKREUTH, Deutsche Bundesbank--Financing Constraints, Micro Adjustment of Factor Use and Aggregate Implications

Discussants: KARSTEN JESKE, Federal Reserve Bank of Atlanta
WENDY EDELBERG, Federal Reserve Board
ANDREAS LEHNERT, Federal Reserve Board
GEORGE HALL, Brandeis University


Jan. 4, 12:30 pm
SPM

Global Imbalances and International Economic Stability (F4)

Presiding: DOUGLAS WALKER, Regent University

FRED CAMPANO, Fordham University--Poverty Alleviation and Structural Imbalances

PELLEGRINO MANFRA, City University of New York--FDI and Global Imbalances

DOMINICK SALVATORE, Fordham University--Structural Imbalances and International Economic Stability

Discussants: SARA GORDON, St. John's University
DOUGLAS WALKER, Regent University


Jan. 4, 12:30 pm
TPUG

Regulating Public Utilities

Presiding: CHRISTIAAN HOGENDORN, Wesleyan University

CHRISTOPHER GARGACZ, Economist, Flora, MS and HERBERT G. THOMPSON, JR., Ohio University--Telecom Impact in the United States

CAROLYN GIDEON, Tufts University--Disconnecting: Universal Service on the Decline

SAM KAYAGA, Loughborough University--Water Demand Management: A Key Building Block for Sustainable Urban Water Management

JOHN YING, University of Delaware--Testing the Effectiveness of Regulation and Competition on Cable Television Rates

Discussants: LEA-RACHEL KOSNIK, University of Missouri-St. Louis
CHRISTIAAN HOGENDORN, Wesleyan University
CHRISTOPHER GARBACZ, Economist, Flora, MS

Jan. 4, 12:30 pm
URPE

Whither the U.S. Economy in 2008 and Beyond? (Roundtable Discussion) (E6)

Presiding: FRED MOSELEY, Mount Holyoke College

DEAN BAKER, Center for Economic and Policy Research--Housing and the Sub-Prime Bust

TOM PALLEY, Economics for Democratic and Open Societies--The Dollar and International Imbalances

WILLIAM SPRIGGS, Howard University--Current Conditions for African-Americans

ROBERT POLLIN, University of Massachusetts-Amherst--Government Policies

DORENE ISENBERG, University of Redlands--Housing Crisis in California


Jan. 4, 2:30 pm
AAEA

Welfare Economics and Policy Analysis of U.S. Biofuel Policies (Q4)

Presiding: MARY BOHMER, USDA-ERS

WALLACE E. TYNER, Purdue University--The U.S. Biofuels Market: Policy Alternatives for the Future

HARRY DE GORTER, Cornell University--The Welfare Economics of U.S. Ethanol Policy

MADHU KHANNA, AMY ANDO, and FARZAD TAHERIPOUR--Unintended Welfare Effects of an Ethanol Subsidy

Discussant: MARCOS JANK, ICONE


Jan. 4, 2:30 pm
AEA

Current and Future Institutions for the World Economy

Presiding: GENE GROSSMAN, Princeton University

RAGHURAM RAJAN, University of Chicago--The Future of the IMF and World Bank

DANIEL ESTY, Yale University--Rethinking Global Environmental Governance

MARTIN FELDSTEIN, Harvard University--Designing Institutions to Cope with Terrorism

Discussant: TODD SANDLER, University of Texas-Dallas


Jan. 4, 2:30 pm
AEA

Better Living through Economics: II

Presiding: JOHN SIEGFRIED, Vanderbilt University

PRESTON MCAFEE, California Institute of Technology and Yahoo Research, SIMON WILKIE, University of Southern California, and JOHN MCMILLAN, Stanford University--The Greatest Auction in History

AL ROTH, Harvard University--Market Design

ELIZABETH BAILEY, University of Pennsylvania--Airline Deregulation

Discussants: JEREMY BULOW, Stanford University
PETER CRAMTON, University of Maryland
NANCY ROSE, Massachusetts Institute of Technology


Jan. 4, 2:30 pm
AEA

Panel Discussion on "What Should Be the Core of Graduate Economics?"

Presiding: DAVID C. COLANDER, Middlebury College

SUSAN ATHEY, Harvard University
EDWARD GLAESER, Harvard University
BO HONORE, Princeton University
BLAKE LEBARON, Brandeis University
DEREK NEAL, University of Chicago
MICHAEL WOODFORD, Columbia University


Jan. 4, 2:30 pm
AEA

Psychology and Development: Theory and Experimental Evidence

Presiding: SENDHIL MULLAINATHAN, Harvard University

ESTHER DUFLO, Massachusetts Institute of Technology, MICHAEL KREMER, Harvard University and JONATHAN ROBINSON, Princeton University--Why Are Farmers Not Using Fertilizer? Evidence from Field Experiments in Western Kenya

ABHIJIT BANERJEE, Massachusetts Institute of Technology, and SENDHIL MULLAINATHAN, Harvard University--Climbing Out of Poverty: Long Term Decisions under Income Stress

ERNST FEHR, University of Zurich, KARLA HOFF, World Bank, and MAYURESH KSHETRAMADE, Affinnova Inc.--Norm Enforcement under Social Discrimination: An Experimental Investigation in India

Discussants: ELDAR SHAFIR, Princeton University
COLIN CAMERER, Caltech


Jan. 4, 2:30 pm
AEA

Labor Market Flows

Presiding: ROBERT SHIMER, University of Chicago

BARBARA PETRONGOLO and CHRISTOPHER PISSARIDES, London School of Economics--The Ins and Outs of European Unemployment

STEVEN DAVIS, University of Chicago--The Decline of Job Loss

ROBERT SHIMER, University of Chicago--Accounting for Labor Market Flows

Discussants: OLIVIER BLANCHARD, Massachusetts Institute of Technology
BRUCE FALLICK, Federal Reserve Board
MICHAEL ELSBY, University of Michigan


Jan. 4, 2:30 pm
AEA

Firm Dynamics (L1)

Presiding: STEPHEN REDDING, London School of Economics

BOYAN JOVANOVIC, New York University, and CHUNG-YI TSE, University of Hong Kong--Creative Destruction in Industries

ERZO LUTTMER, University of Minnesota--New Goods and Firm Growth

ESTEBAN ROSSI-HANSBERG, Princeton University, and SATYAJIT CHATTERJEE, Federal Reserve Bank of Philadelphia--Spin-offs and the Market for Ideas

ANDREW BERNARD, Dartmouth College, PETER SCHOTT, Yale University, and STEPHEN REDDING, London School of Economics--Multi-product Firms and Product Switching

Discussants: XAVIER GABAIX, Princeton University
MARK WRIGHT, University of California-Los Angeles
HUGO HOPENHAYN, University of California-Los Angeles
SAM KORTUM, University of Chicago


Jan. 4, 2:30 pm
AEA

The Economics of Ethnic Identity and Assimilation (J1)

Presiding: LISA M. LYNCH, Tufts University

CARMEL U. CHISWICK, University of Illinois-Chicago--The Economic Determinants of Ethnic Assimilation

TIMOTHY J. HATTON and ANDREW LEIGH, Australian National University--Immigrants Assimilate as Communities, Not Just as Individuals

AMELIE CONSTANT, Georgetown University, and KLAUS F ZIMMERMANN, IZA and Bonn University--Measuring Ethnic Identity and Its Impact on Economic Behavior

ROBERT W. FAIRLIE, University of California-Santa Cruz, ALICIA ROBB, FSD, JULIE ZISSIMOPOULOS, RAND, and HARRY KRASHINSKY, University of Toronto--Asian-Owned Businesses in the United States

Discussants: SUSAN VROMAN, Georgetown University
DAVID C. RIBAR, University of North Carolina
LESLIE STRATTON, Virginia Commonwealth University
SOLOMON POLACHEK, Binghamton University


Jan. 4, 2:30 pm
AEA

Disaster Economics: A Roundtable on Climate Change, Hurricane Katrina
and Related Issues (H0)

Presiding: JAMES K. GALBRAITH, University of Texas-Austin and Economists for Peace and Security

PAUL KRUGMAN, Princeton University--TBA

JOSEPH STIGLITZ, Columbia University--TBA

HOWARD KUNREUTHER, University of Pennsylvania--Providing Protection Against Natural Disasters in the 21st Century

MARCELLUS ANDREWS, Insurance Information Institute--Risk, Inequality and the Economics of Disaster

Discussants: To be announced.


Jan. 4, 2:30 pm
AEA

Firm Size & Innovation: Solving Schumpeter's Innovation Riddle (O1)

Presiding: WILLIAM BAUMOL, New York University

JOHN VAN REENEN, London School of Economics, and SHARON BELENZON, Oxford University--Firm Size and Innovation: Evidence from European Panel Data

DAVID AUDRETSCH, Indiana University and Max Planck Institute--Resolving the Small Firm Innovation Paradox: The Knowledge Spillover Theory of Entrepreneurship

WILFRED DOLFSMA, University of Groningen, and GERBEN VAN DER PANNE, Delft University of Technology--Innovation by SMEs &Large Firms: Sector Structure and Dynamics

PHILIPPE AGHION, Harvard University, JOHN VAN REENEN, London School of Economics, and LUIGI ZINGALES, University of Chicago--Corporate Governance and Innovation

Discussants: MARK SANDERS, Utrecht School of Economics
SHARON BELONZON, Oxford University
JEROEN HINLOOPEN, University of Amsterdam and Katholieke Universiteit Leuven


Jan. 4, 2:30 pm
AEA

Prediction Markets--New Empirical Findings (D7)

Presiding: ERIC ZITZEWITZ, Stanford University

BO COWGILL, Google, JUSTIN WOLFERS, University of Pennsylvania, and ERIC ZITZEWITZ, Stanford University--Prediction Markets Inside the Firm: Evidence From Google

FORREST NELSON and PHILIP POLGREEN, University of Iowa--Predicting Flu: Prediction Markets vs. Biostatistical Models

PAUL TETLOCK, University of Texas-Austin--Does Liquidity Affect Securities Market Efficiency?

RICARD GIL, University of California-Santa Cruz, and STEVEN LEVITT, University of Chicago--Testing the Efficiency of Markets in the 2002 World Cup

Discussants: CHARLES PLOTT, Caltech
ROBIN HANSON, George Mason University
ERIC ZITZEWITZ, Stanford University
JUSTIN WOLFERS, University of Pennsylvania


Jan. 4, 2:30 pm
AEA

International Reserves (F3)

Presiding: RICARDO CABALLERO, Massachusetts Institute of Technology

JOSHUA AIZENMAN, University of California-Santa Cruz, and JAEWOO LEE, International Monetary Fund--Financial versus Monetary Mercantilism -- Long-Run View of Large International Reserves Hoarding

OLIVIER JEANNE and ROMAIN RANCIERE, International Monetary Fund--The Optimal Level of International Reserves in Emerging Market Countries: A New Formula and Some Applications

EDUARDO LEVY YEYATI, Universidad Di Tella--The Cost of Reserves

RICHARD PORTES, London Business School, ELIAS PAPAIOANNOU, European Central Bank, and GRIGORIOS SIOUROUNIS, London Business School--Allocation of International Reserves Across Asset Classes

Discussants: THOMAS WILLETT, Claremont McKenna College
LINDA GOLDBERG, Federal Reserve Bank of New York
ROMAIN RANCIERE, International Monetary Fund
JOSHUA AIZENMAN, University of California-Santa Cruz


Jan. 4, 2:30 pm
AEA

Consumer Bankruptcy and the Credit Market (K3)

Presiding: MICHELLE WHITE, University of California-San Diego

IGOR LIVSHITS, JAMES MACGEE, University of Western Ontario, and MICHELE TERTILT, Stanford University--Accounting for the Rise in Consumer Bankruptcies

CHRIS MAYER, Columbia University, KAREN PENCE, Federal Reserve Board, and TOMASZ PISKORSKI, Columbia University--Deception or Access to Credit: Why Do Subprime Loans Have Adjustable Rates and Prepayment Penalties?

SUMIT AGARWAL, Federal Reserve Bank of Chicago, SOUPHALA CHOMSISENGPHET, Office of the Comptroller of the Currency, CHUNLIN LIU, University of Nevada-Reno, and NICHOLAS SOULELES, University of Pennsylvania--Relationship Lending and Bankruptcy: Evidence from the Consumer Credit Market

ASTRID DICK, Federal Reserve Bank of New York, and ANDREAS LEHNERT, Federal Reserve Board--Personal Bankruptcy and Credit Market Competition

Discussants: DEAN CORBAE, University of Texas-Austin
MARK GARMAISE, University of California-Los Angeles
WENLI LI, Federal Reserve Bank of Philadelphia
ERIK HURST, University of Chicago


Jan. 4, 2:30 pm
AEA

Directed Search Models of Labor and Consumer Product Markets (J6)

Presiding: MICHAEL PETERS, University of British Columbia

SHOUYONG SHI, University of Toronto--Directed Search for Equilibrium Wage-Tenure Contracts

MICHAEL PETERS, University of British Columbia--Unobservable Heterogeneity in Directed Search

JAN EECKHOUT and PHILIPP KIRCHER, University of Pennsylvania--The Sorting Effect of Price Competition

PHILIPP KIRCHER, University of Pennsylvania--Efficiency of Simultaneous Search

Discussants: KEN BURDETT, University of Pennsylvania
ESPEN MOEN, Norwegian School of Management
GUIDO MENZIO, University of Pennsylvania
BENOIT JULIEN, Australian Graduate School of Management


Jan. 4, 2:30 pm
AEA

Monetary Policy and Inflation Targeting

Presiding: ANN OWEN, Hamilton College

MARCO DEL NEGRO, Federal Reserve Bank of Atlanta, and FRANK SCHORFHEIDE, University of Pennsylvania--Monetary Policy Analysis with Potentially Misspecified Models

JERRY TEMPELMAN, Federal Reserve Bank of New York--A Case Against Explicit Inflation Targeting

JAN LIBICH, La Trobe University--Inflexibility of Inflation Targeting Revisited: Modeling the Anchoring Effect

DEVRIM DEMIREL, University of Colorado-Boulder--Optimal Monetary Policy and Equilibrium Determinacy in a Financially Fragile Economy

Discussants: STEVEN DURLAUF, University of Wisconsin
PETER HOWITT, Brown University
MICHAEL HANSON, Wesleyan University


Jan. 4, 2:30 pm
AEA

How to Mentor Junior Economists (Panel Discussion)

Presiding: DANIEL S. HAMERMESH, University of Texas-Austin

FRANCINE BLAU, Cornell University
SUSAN COLLINS, Georgetown University
JONATHAN H. HAMILTON, University of Florida
CHRISTINA PAXSON, Princeton University
JAMES POTERBA, Massachusetts Institute of Technology
JEFFREY M. WOOLDRIDGE, Michigan State University


Jan. 4, 2:30 pm
AEA

Health and Development (I1)

Presiding: CHRIS PAPAGEORGIOU, International Monetary Fund

SHANKHA CHAKRABORTY, University of Oregon, CHRIS PAPAGEORGIOU, International Monetary Fund, and FIDEL PEREZ-SEBASTIAN, University of Alicante, Spain--Diseases and Development

ROMERO ROCHA, Pontifícia Universidade Católica do Rio de Janeiro, and RODRIGO SOARES, University of Maryland and NBER--Direct and Indirect Impacts of Community Based Health Interventions: Evidence from Brazil's Family Health Program

JAMES FEYRER, Dartmouth College, DIMITRA POLITI, Brown University, and DAVID WEIL, Brown University and NBER--The Economic Effects of Micronutrient Deficiency: Evidence from Salt Iodization in the United States

JANE FORTSON, Princeton University--Mortality Risk and Human Capital Investment: The Impact of HIV/AIDS in Sub-Saharan Africa

Discussants: EMILY OSTER, University of Chicago
SIMON JOHNSON, Massachusetts Institute of Technology
ANGUS DEATON, Princeton University
SEBNEM KALEMLI-OZCAN, University of Houston


Jan. 4, 2:30 pm
AEA

Labor Market Dynamics

Presiding: ROBERT MOFFITT, Johns Hopkins University

JOSEPH PERSKY, University of Illinois-Chicago, and DANIEL FELSENSTEIN, Hebrew University--Job Chains and Wage Curves: Worker Mobility and Marshallian Surpluses in Evaluating Local Employment Growth

ANNALISA MASTRI and KATHRYN SHAW, Stanford University--Wage Compression and Teacher Quality

SEWIN CHAN, New York University, and ANN HUFF STEVENS, University of California-Davis--Retirement Reversals

PETER GOTTSCHALK, Boston College, ROBERT MOFFITT, Johns Hopkins University, and JONATHAN SCHWABISH, Congressional Budget Office--Earnings Volatility in the U.S.: Trends and Comparisons using Survey and Administrative Data

Discussants: ANDREW OSWALD ,University of Warwick
ERIC FRENCH, Federal Reserve Bank of Chicago
JOHN ABOWD, Cornell University


Jan. 4, 2:30 pm
AEA

Innovation, Intangibles, and R&D

Presiding: CYNTHIA A. GLASSMAN, U.S. Department of Commerce

JOSHUA LERNER, Harvard University, MORTEN SORENSEN, University of Chicago, and PER STROMBERG, Swedish Institute for Financial Research--The Long-Run Impact of Private Equity: The Impact on Innovation

CAROL CORRADO, Federal Reserve Board, and CHARLES HULTEN, University of Maryland--Some New Stylized Facts about U.S. Economic Growth

J. STEVEN LANDEFELD and SUMIYE OKUBO, Bureau of Economic Analysis--The Role of R&D in Economic Growth: BEA's Satellite Account

Discussants: VOJISLAV MAKSIMOVIC, University of Maryland
BARBARA M. FRAUMENI, University of Southern Maine
SHANE M. GREENSTEIN, Northwestern University


Jan. 4, 2:30 pm
AEA

Racial and Ethnic Gaps in Education: Theory, Policies and Practice

Presiding: NGINA CHITEJI, Skidmore College and Howard University Institute on Race and Wealth

CECILIA ROUSE, Princeton University, DAVID FIGLIO, University of Florida, and ANALIA SCHLOSSER, Princeton University--Racial and Ethnic Gaps in Achievement: Evidence from Florida

BRIAN JACOB, Harvard University--The Impacts of Choice and Accountability on African-American versus Latino Children in Chicago

RONALD FERGUSON, Harvard University-- Within-School Variation in the Quality of Instruction across Course Levels and Racial Groups

ERIC P. BETTINGER, Case Western Reserve University, and BRIDGET TERRY LONG, Harvard University--Racial Gaps in College Preparation: Exploring the Role of Postsecondary Remediation Using a Regression-Discontinuity Approach

Discussants: KERWIN CHARLES, University of Chicago
MARK LOPEZ, University of Maryland
CHARLES CLOTFELTER, Duke University


Jan. 4, 2:30 pm
AEA

Education and Occupational Choice

Presiding: GAIL HOYT, University of Kentucky

JUSTINE HASTINGS, Yale University and NBER, and JEFFREY M. WEINSTEIN, Yale University--Does Gender Influence Gains from Increased Academic Opportunities

SUQIN GE, Virginia Tech, and FANG YANG, State University of New York-Albany--Marriage, Intergenerational Schooling Effect, and Gender Gap in College Attainment

JENNIFER THACHER, MELISSA BINDER, JANIE CHERMAK, and KATE KRAUSE, University of New Mexico--Faculty Compensation and Preferences: Can Differences in Job Preferences Help Explain Why Men and Women are Paid Differently?

ALAKA HOLLA, Innovations for Poverty Action--Missing Students: Risk, Gender, and Human Capital Investment in India

Discussants: CAROLINE MINTER HOXBY, Harvard University
RAQUEL FERNANDEZ, New York University
ALAN KRUEGER, Princeton University
THOMAS DEE, Swarthmore College


Jan. 4, 2:30
AEA

Poster Session 2008

Presiding: To be announced.

HIROKATSU ASANO, Asia University--Estimating Capital Investment with Financial Constraints: Comparison of Tobin's q and Real Options Approaches

YIJUN HE, Washington State University--Existence of Bifurcation in Macroeconomic Dynamics: Grandmont was Right

CATHERINE CO, SHUANGLIN LIN, University of Nebraska-Omaha, and FANYING KONG, Midland Lutheran College--Pollution Across Chinese Provinces

JULIAN EMAMI NAMINI, Erasmus University Rotterdam--Trade, Neoclassical Growth and Heterogeneous Firms

CHRISTIAN BAYER and FALKO JUESSEN, University of Dortmund--On the Dynamics of Interstate Migration: Migration Costs and Self-Selection

MARY DALY and DANIEL WILSON, Federal Reserve Bank of San Francisco--Interpersonal Comparisons: Evidence from Individual-Level Data on Suicides

GARETT JONES, University of California-San Diego--Cognitive Ability and Technology Diffusion: An Empirical Test

MANOJ MOHANAN, Harvard University--Consumption Smoothing Revisited: Testing the Permanent Income Hypothesis Using a Random Health Shock

QIANG ZHANG, University of Leicester--Understanding Intertemporal Substitution in Consumption


Jan. 4, 2:30 pm
AEA/IHEA

Topics in Health Economics

Presiding: RICHARD ARNOULD, University of Illinois

MARK DUGGAN, University of Maryland--The Effect of Medicate Part D on Dual Eligibles: Evidence from California-s Medicaid Program

AMY FINKELSTEIN, Massachusetts Institute of Technology--The Effects of Universal Coverage: Evidence from the Introduction of Medicare

DOUGLAS STAIGER and JONATHAN SKINNER, Dartmouth College--Diffusion and Productivity in Health Care

DAVID BECKER, University of Alabama-Birmingham, KENNETH CHAY, University of California-Berkeley and Brown University, and SHAILENDER SWAMINATHAN, University of Alabama-Birmingham--Mortality and the Baseball Hall of Fame: An Investigation into the Role of Status in Life Expectancy

Discussants: MICHAEL ANDERSON, University of California-Berkeley
JOHN DINARDO, University of Michigan
CARLOS DOBKIN, University of California-Santa Cruz
JUSTIN MCCRARY, University of Michigan


Jan. 4, 2:30 pm
AEA/URPE

Debate over Microeconomics

Presiding: FRED MOSELEY, Mount Holyoke College

BERNARD GUERRIEN and EMMANUELLE BENICOURT, Université Paris-Sorbonne--Is There Anything Worth Keeping in Standard Microeconomics

KARL CASE, Wellesley College--Reply to Guerrien-Benicourt and Defense of Microeconomics

DONALD KATZNER, University of Massachusetts-Amherst--Reply to Guerrien-Benicourt and Defense of Microeconomics

Discussants: DEIRDRE MCCLOSKEY, University of Illinois-Chicago
DUNCAN FOLEY, New School University


Jan. 4, 2:30 pm
AFA

Corporate Liquidity

Presiding: NITTAI BERGMAN, Massachusetts Institute of Technology

DAVID A. MATSA, Northwestern University--Operating Under a Liquidity Crunch: The Impact of LBOs on Product Availability in the Supermarket Industry

ANDREA L. EISFELDT, Northwestern University, and ADRIANO A. RAMPINI, Duke University--Financing Shortfalls and the Value of Aggregate Liquidity

KARL V. LINS, University of Utah, HENRI SERVAES, London Business School, and PETER TUFANO, Harvard Business School--What Drives Corporate Liquidity? International Evidence from Survey Data on Strategic Cash and Lines of Credit

Discussants: GREGOR MATVOS, University of Chicago
GUSTAVO MANSO, Massachusetts Institute of Technology
HEITOR ALMEIDA, New York University


Jan. 4, 2:30 pm
AFA

Mispricing and Limits to Arbitrage

Presiding: ANNA SCHERBINA, Harvard Business School

DORON AVRAMOV, University of Maryland, TARUN CHORDIA, Emory University, GERGANA JOSTOVA, George Washington University, and ALEXANDER PHILIPOV, George Mason University--Dispersion in Analysts' Earnings Forecasts and Credit Rating

DAVID A. HIRSHLEIFER, University of California-Irvine, and DANLING JIANG, Florida State University--Commonality in Misvaluation, Equity Financing, and the Cross Section of Stock Returns

TARUN CHORDIA, AMIT GOYAL, Emory University, GIL SADKA, Columbia University, RONNIE SADKA, University of Washington, and LAKSHMANAN SHIVAKUMAR, London Business School--Liquidity and the Post-Earnings-Announcement Drift

DAVID A. LESMOND, Tulane University--The Micro and Macro of Accrual Based Trading Strategies

Discussants: KARL DIETHER, Ohio State University
KENT DANIEL, Goldman Sachs Group, Inc.
AVANIDHAR SUBRAHMANYAM, University of California-Los Angeles
SCOTT RICHARDSON, Barclays


Jan. 4, 2:30 pm
AFA

Which CEOs Matter and When?

Presiding: REBECCA ZARUTSKIE, Duke University

RUDIGER FAHLENBRACH, BERNADETTE A. MINTON, and CARRIE H. PAN, Ohio State University--The Market for Comeback CEOs

STEVEN N. KAPLAN, MARK KLEBANOV, and MORTEN SORENSEN, University of Chicago--Which CEO Characteristics and Abilities Matter?

JESUS M. SALAS, University of Oklahoma--Entrenchment and the Stock Price Reaction to Sudden Executive Deaths

Discussants: DIRK JENTER, Stanford University
CAROLA FRYDMAN, Massachusetts Institute of Technology
FRANCISCO PEREZ-GONZALEZ, University of Texas-Austin


Jan. 4, 2:30 pm
AFA

Options

Presiding: DAVID BATES, University of Iowa

MARK BROADIE, Columbia University, MIKHAIL CHERNOV, London Business School, and MICHAEL S. JOHANNES, Columbia University--Understanding Index Option Returns

PETER F. CHRISTOFFERSEN, KRIS JACOBS, and KARIM MIMOUNI, McGill University--Models for S&P 500 Dynamics: Evidence from Realized Volatility, Daily Returns, and Option Prices

NEIL D. PEARSON, ALLEN M. POTESHMAN, and JOSHUA S. WHITE, University of Illinois at Urbana-Champaign--Does Option Trading Have a Pervasive Impact on Underlying Stock Prices?

GEORGE O. ARAGON, Arizona State University, and J. SPENCER MARTIN, Carnegie Mellon University--Informed Trader Usage of Stock vs. Option Markets: Evidence from Hedge Fund Investment Advisors

Discussants: CHRISTIAN SCHLAG, Goethe University Frankfurt
MICHAEL S. JOHANNES, Columbia University
KERRY BACK, Texas A&M University
NICOLAS P.B. BOLLEN, Vanderbilt University


Jan. 4, 2:30 pm
AFA

Market Making

Presiding: HENDRIK BESSEMBINDER, University of Utah

MICHAEL J. FLEMING and JOSHUA V. ROSENBERG, Federal Reserve Banks--How Do Treasury Dealers Manage their Positions?

ALBERT J. MENKVELD, Free University of Amsterdam--Designated Market Makers for Small-Cap Stocks: Is One Enough?

DAN LI, Carnegie Mellon University--Rounding as Discrimination -- Price Clustering in the OTC Tax-Exempt Bond Market

TERRENCE HENDERSHOTT, University of California-Berkeley, PAMELA C. MOULTON, Fordham University, and MARK S. SEASHOLES, University of California-Berkeley--Market Maker Inventories and Liquidity

Discussants: PRADEEP YADAV, University of Oklahoma
KUMAR VENKATARAMAN, Southern Methodist University
AMY EDWARDS, Securities and Exchange Commission
MARIOS PANAYIDES, Yale University


Jan. 4, 2:30 pm
AREUEA

Housing Policy (R3)

Presiding: EDGAR O. OLSEN, University of Virginia

JOHN E. ANDERSON, University of Nebraska, JEFFREY CLEMENS, Harvard University, and ANDREW HANSON, Syracuse University--Capping the Mortgage Interest Deduction

JOSEPH T.L. OOI, National University of Singapore, C.F. SIRMANS, University of Connecticut, and GEOFFREY K. TURNBULL, Georgia State University--Government Supply of Land in a Dual Market

CHRISTOPHER R. CUNNINGHAM, Federal Reserve Bank of Atlanta and GARY V. ENGELHARDT, Syracuse University -- Housing Mobility and TRA97

SHAUN A. BOND, PETER TYLER, University of Cambridge, and BEN GARDINER, Cambridge Econometrics -- Tax Incidence and Commercial Real Estate Leases

Discussants: DAVID LING, University of Florida
DAVID FRAME, Baruch College, City University of New York
TRACY TURNER, Kansas State University
THOMAS DAVIDOFF, University of California-Berkeley

Jan. 4, 2:30 pm
AREUEA

Housing Search (R2)

Presiding: ABDULLAH YAVAS, Pennsylvania State University

WILLIAM C. WHEATON and NAI JIA LEE, Massachusetts Institute of Technology--Do Housing Sales Drive Housing Prices or the Converse?

JUN ZHANG, Chinese University of Hong Kong, and CHARLES KA YUI LEUNG, City University Of Hong Kong--Housing Markets with Competitive Search

DONALD R. HAURIN, TAYLOR NADAULD, Ohio State University, ANTHONY SANDERS, Arizona State University, and JESSICA L. HAURIN, Stanford University--List Prices, Sale Prices, and Marketing Time

POH HAR NEO, SEOW ENG ONG, National University of Singapore, and TSUR SOMMERVILLE, University of British Columbia--Loss Aversion and Repeated Market Environment

Discussants: YILDIRAY YILDIRIM, Syracuse University
PING WANG, Washington University
PAUL ANGLIN, University of Guelph
DANIEL QUAN, Cornell University


Jan. 4, 2:30 pm
ACES

Energy Issues and Challenges in Emerging Economies (Q4)

Presiding: JOHN BONIN, Wesleyan University

YELENA KALYUZHNOVA, University of Reading, and ALI M. KUTAN, Southern Illinois University-Edwardsville--Determinants of Corruption in Energy-Rich Economies

RICHARD POMFRET, Adelaide University, Australia--Using Energy Earnings to Diversify the Economy: Kazakhstan's Agricultural Promotion Programme

KOEN SCHOORS, Ghent University, Belgium--Russia from Bust to Boom: Oil, Politics or the Ruble?

ULRICH KLUEH, GONZALO PASTOR, and ALONSO SEGURA, International Monetary Fund--Sao Tome and Principe's Experience with the Local Content: Some Possible Lessons for the Caspian Sea Region

Discussants: JOSEF BRADA, Arizona State University
MARIA VAGLIASINDI, World Bank


Jan. 4, 2:30 pm
AFEE

Institutional Analysis of Sectors, Systems, and Trade in the Global Era (O1)

Presiding: GEOFF SCHNEIDER, Bucknell University

PAUL SUSMAN and GEOFFREY SCHNEIDER, Bucknell University--Institutional Challenges and Opportunities in the Development of the Worlds First Worker-Owned Free Trade Zone

JOHN B. HALL, Portland State University, and UDO LUDWIG, Institute for Economics Research, Halle and University of Leipzig--Eastern Germany's Constrained Service Sector Expansion

ARISTIDIS BITZENIS, University of Macedonia, and JOHN MARANGOS, Colorado State University--The Role of Risk as an FDI Barrier to Entry during Transition: The Case of Bulgaria

ERIC R. HAKE, Eastern Illinois University--The Evolution of Corporate Governance and the Expansion of the European Union

P. SAI-WING HO, University of Denver--Fighting for Policy Space to Promote Development: Prebisch, Myrdal, and Singer


Jan. 4, 2:30 pm
AFEE

Topics in the History of Institutional Economics (B2)

Presiding: THOMAS A. SWANKE, Chadron State College

JAMES L. WEBB, University of Missouri-Kansas City--Veblen's Analysis and Pragmatic Inquiry

SHERRY KASPER, Maryville College--Eveline Mabel Burns, Interwar Pluralism and the Founding of Social Security

ROBERT W. DIMAND and ROBERT H. KOEHN, Brock University--Galbraith's Heterodox Teacher: Leo Rogin's Historical Approach to the Meaning and Validity of Economic Theory

CHARLES G LEATHERS, University of Alabama, and J. PATRICK RAINES, Belmont University--Institutional Economics and Behavioral Finance

RANGANATH MURTHY, Bucknell University--Nicholas Georgescu-Roegen, Institutional Economist

Discussant: JOHN F. HENRY, University of Missouri-Kansas City


Jan. 4, 2:30 pm
ASE

Neoliberalism, Inequality, and Religion (D6)

Presiding: ALBINO BARRERA, Providence College

ALBINO BARRERA, Providence College--Why Inequality Matters: Preconditions and Limitations of Allocative Efficiency

ROJHAT BERDAN AVSAR, University of Utah--Neoliberal Autonomy: A Critical Analysis of the "Ownership Society" Rhetoric

BARBARA E. HOPKINS, Wright State University--Class and Gender Bias among the Religious Right and the Rationalization of Inequality

JOHN WISMAN, American University--The Role of Religion and Economic Science in Legitimating Inequality

Discussant: JOHN TIEMSTRA, Calvin College


Jan. 4, 2:30 pm
AERE

Technologies and Trade-offs (Q5)

Presiding: IAN W.H. PARRY, Resources for the Future

DAVID POPP, Syracuse University, and RICHARD NEWELL, Duke University--Where Does Energy R&D Come From? A First Look at Crowding Out from Environmentally-Friendly R&D

TIMO GOESCHL and GRISCHA PERINO, University of Heidelberg--On Backstops and Boomerangs: Environmental R&D under Technological Uncertainty

SJAK SMULDERS, University of Calgary, and CORRADO DI MARIA, University College Dublin--Endogenous Technological Change and the Cost of Environmental Policy

ERIN BAKER, University of Massachusetts-Amherst, LEON CLARKE, University of Maryland-College Park, and EKUNDAYO SHITTU, University of Massachusetts-Amherst--Technical Change and the Marginal Cost of Abatement

Discussants: IAIN COCKBURN, Boston University
CHARLES KOLSTAD, University of California-Santa Barbara
LARRY GOULDER, Stanford University
CAROLYN FISCHER, Resources for the Future


Jan. 4, 2:30 pm
ACE

Spiritual, Human, and Physical Capital: Are They Complementary Factors
in Economic Growth?

Presiding: SARAH HAMERSMA, University of Florida

CARL R. GWIN, Pepperdine University, WAFI HAKIM ORMAN, and CHARLES M. NORTH, Baylor University--Spiritual, Human, and Physical Capital: Are They Complementary Factors in Economic Growth?

BROOKS B. HULL, University of Michigan-Dearborn, and JODY LIPFORD, Presbyterian College--Free Riding, Market Structure, and Member Commitment in South Carolina Churches

JONATHAN GRUBER, Massachusetts Istitute of Technology and NBER and DANIEL M. HUNGERMAN, University of Notre Dame--The Church vs. The Mall: What Happens When Religion Faces Increased Secular Competition?

JOSHUA J. LEWER, Bradley University, R. NICHOLAS GERLICH, West Texas A&M University, and DOYLE LUCAS, Anderson University--The Effects of Religious Adherence and Intensity on Illegal Media File Sharing

Discussants: MICHAEL A. ANDERSON, Washington and Lee University
ROBBIE MOCHRIE, Heriot-Watt University
CHRISTOPHER M. CORNWELL, University of Georgia
PETER G. KLEIN, University of Missouri


Jan. 4, 2:30 pm
CS

Technological Innovations and Social Capital: What Mattered When

Presiding: FARLEY GRUBB, University of Delaware

PRICE FISHBACK, University of Arizona, SHAWN KANTOR, University of California-Merced, and TODD SORENSON, University of Arizona--The New Deal and Diffusion of Tractors in the 1930s

MARTA FELIS-ROTA, London School of Economics and Political Science--Is Social Capital Persistent? Comparative Measurement in the Nineteenth and Twentieth Centuries

DROR GOLDBERG, Texas A&M University--The Dishonest Origins of Modern Currency

PETER MEYER, U.S. Bureau of Labor Statistics--The Airplane as an Open Source Invention

Discussants: ZORINA KHAN, Bowdoin College
WAYNE GROVE, Le Moyne College
FARLEY GRUBB, University of Delaware
PAUL RHODE, University of Arizona


Jan. 4, 2:30 pm
ES

Econometrics (C0)

Presiding: PAUL RUUD, University of California-Berkeley

MATTHEW HARDING, Stanford University, and JERRY HAUSMAN, Massachusetts Institute of Technology--Finite Sample Bias Corrections for IV Estimation with Weak and Many Instruments

SARASWATA CHAUDHURI and ERIC ZIVOT, University of Washington--Testing of Hypotheses in the Presence of Weakly Identified Nuisance Parameters

VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology, IVAN FERNANDEZ-VAL, Boston University, and BLAISE MELLY, University of St. Gallen--Inference on Counterfactual Distributions

PAUL RUUD and JAMES POWELL, University of California-Berkeley--Semiparametric Multinomial Choice and Random Utility Models

Discussants: PATRIK GUGGENBERGER, University of California-Los Angeles
STANISLAV ANATOLYEV, New Economic School
FLAVIO CUNHA, University of Chicago
ROSA MATZKIN, Northwestern University


Jan. 4, 2:30 pm
ES

Applications of Global Games (C7)

Presiding: ANDREA FINICELLI, Bank of Italy

ANDREA FINICELLI, Bank of Italy--Endogenous Information and Credibility of Beliefs in a Global Game

AMIL DASGUPTA, London School of Economics, JAKUB STEINER, University of Edinburg, and COLIN STEWART, University of Toronto--Efficient Dynamic Coordination with Private Learning

ALEXANDER ELBITTAR, CIDE Mexico, RODRIGO HARRISON, Instituto de Economia P.U.C. Chile, and ROBERTO MUNOZ, Departamento de Industrias USM Chile--Network Structure in a Link Formation Game


Jan. 4, 2:30 pm
ES

Exporters and Multinationals (F1)

Presiding: MARC-ANDREAS MUENDLER, University of California-San Diego

JÖRN KLEINERT, University of Tübingen, and FARID TOUBAL, University of Paris 1, Panthéon-Sorbonne--Dissecting FDI

ROBERTO ALVAREZ, Central Bank of Chile, HASAN FARUQ, and RICARDO A. LOPEZ, Indiana University--New Products in Export Markets: Learning from Experience and Learning from Others

SASCHA O. BECKER, LMU Munich, CESifo and IZA, KAROLINA EKHOLM, Stockholm University, CEPR and CESifo, and MARC-ANDREAS MUENDLER, University of California-San Diego and CESifo--Offshoring and the Onshore Composition of Occupations, Tasks and Skills

RONALD DAVIES, University of Oregon, PEHR-JOHAN NORBACK, Research Institute of Industrial Economics, Stockholm, and AYCA TEKIN-KORU, Oregon State University--Effects of Bilateral Tax Treaties on the Export Intensity of Foreign Affiliates

Discussants: COSTAS ARKOLAKIS, University of Minnesota and Yale University
THOMAS CHANEY, University of Chicago


Jan. 4, 2:30 pm
ES

Information Economics (D8)

Presiding: STEVEN MATTHEWS, University of Pennsylvania

CHARLES BLACKORBY and DEZSÖ SZALAY, University of Warwick--Multidimensional Screening, Affiliation, and Full Separation

SERGIO CURRARINI, University of Venezia, MATTHEW O. JACKSON, Stanford University, and PAOLO PIN, University of Venezia--An Economic Model of Friendship: Diversity, Minorities and Integration

MICHAEL MANDLER, Royal Holloway College, University of London--The Fragility of Information Aggregation in Large Elections

STEVEN A. MATTHEWS, University of Pennsylvania--Smooth Monotone Games of Contribution


Jan. 4, 2:30 pm
ES

The Pricing of Market Variance and Jump Risk (G1)

Presiding: TORBEN ANDERSEN, Northwestern University

JONATHAN WRIGHT and HAO ZHOU, Federal Reserve Board--Bond Risk Premia and Realized Jump Volatility

HAITAO LI, University of Michigan, and FENG ZHAO, Rutgers University--Nonparametric Estimation of State-Price Densities Implicit in Interest Rate Cap Prices

JEFFERSON DUARTE, University of Washington, and CHRISTOPHER S. JONES, University of Southern California--The Price of Market Volatility Risk

TORBEN G. ANDERSEN, Northwestern University, and OLEG BONDARENKO, University of Illinois-Chicago--The Pricing of Variance Risk in the U.S. Treasury Market


Jan. 4, 2:30 pm
ES

New Faces in Econometrics (C0)

Presiding: AZEEM SHAIKH, University of Chicago

RUSTAM IBRAGIMOV, Harvard University, and ULRICH K. MULLER, Princeton University--t-statistic Based Correlation and Heterogeneity Robust Inference

ANNA MIKUSHEVA, Massachusetts Institute of Technology--One-Dimensional Inferences in Autoregressive Models in a Potential Presence of a Unit Root

ANDRES SANTOS, University of California-San Diego--Instrumental Variables Methods for Recovering Continuous Linear Functionals

JAY BHATTACHARYA, Stanford University, AZEEM M. SHAIKH, University of Chicago, and EDWARD VYTLACIL, Columbia University--Treatment Effect Bounds: An Application to Swan-Ganz Catheterization

Discussants: BRENDAN BEARE, Oxford University
GIUSEPPE RAGUSA, University of California-Irvine


Jan. 4, 2:30 pm
ES

International Migration and Sending Countries (O1)

Presiding: GORDON HANSON, University of California-San Diego

CATIA BATISTA, University of Oxford, AITOR LACUESTA, Bank of Spain, and PEDRO C. VICENTE, CSAE and University of Oxford--Brain Drain and Brain Gain: Evidence from an African Success Story

PABLO ACOSTA, Andean Development Corporation (CAF)--Occupational Choice, Migration and Remittances in El Salvador

HYEJIN KU, Cornell University--Migration as Price Arbitrage: Evidence from Mexican Workers in the U.S.

DAVID MCKENZIE, World Bank, and HILLEL RAPOPORT, Bar-Ilan University--Self-selection Patterns in Mexico-U.S. Migration: The Role of Migration Networks

Discussants: MICHAEL CLEMENS, Center for Global Development
DEAN YANG, University of Michigan
GORDON HANSON, University of California-San Diego
PIA ORRENIUS, Federal Reserve Bank of Dallas


Jan. 4, 2:30 pm
ESA

Voluntary Funding of Public Goods: Field Experiments in Charitable Giving (C9)

Presiding: ERIN L. KRUPKA, Institute for the Study of Labor (IZA)

ERIN L. KRUPKA, Institute for the Study of Labor, and RACHEL CROSON, University of Texas-Dallas--Priming Pro-Social Behavior: A Field Experiment in Public Library Fundraising

JEN (YUE) SHANG, Indiana University and RACHEL CROSON, University of Texas-Dallas--Social Networks and Charitable Giving

STEPHAN MEIER, Federal Reserve Bank of Boston-- Long-Run Effects of Fundraising Activities

CRAIG LANDRY, East Carolina University, ANDREAS LANGE, University of Maryland, JOHN A. LIST, University of Chicago, MICHAEL K. PRICE, University of Nevada-Reno, and NICHOLAS RUPP, East Carolina University--A Hidden Cost of Incentives: Evidence from a Natural Field Experiment


Jan. 4, 2:30 pm
HERO

Health Care Reform in the 2008 Election: A Political Economic Perspective

Presiding: HENRY AARON, Brookings Institution

DOUGLAS HOLTZ-EAKIN, John McCain 2008
CHRIS JENNINGS, Jennings Associates
MARK MCCLELLAN, Brookings Institution
KEN THORPE, Emory University


Jan. 4, 2:30 pm
IOS

Empirical Industrial Organization (L0)

Presiding: CHRISTOPHER SNYDER, Dartmouth College

KATHERINE HO, Columbia University, and JULIE HOLLAND MORTIMER, Harvard University-- The Effects of Full-Line Forcing Contracts

CHRISTOPHER KNITTEL, University of California-Davis, and VICTOR STANGO, Dartmouth College--Outsourcing, Product Mix and Productivity

JOSEPH DOYLE, Massachusetts Institute of Technology, ERICH MUEHLEGGER, Harvard University, and KRISLERT SAMPHANTHARAK, University of California-San Diego--Edgeworth Cycles in Gasoline Markets

JAKUB KASTL, Stanford University and JOZSEF MOLNAR, Bank of Finland--Self-Advertising in Media: Empirical Evidence from the Hungarian Female Magazine Market

Discussants: STEPHEN MARTIN, Purdue University
LAWRENCE WHITE, New York University
ROBERT MASSON, Cornell University
KENNETH BOYER, Michigan State University


Jan. 4, 2:30 pm
IAFFE

New Research on Sexual Orientation and Economic Outcomes (J1)

Presiding: SHOSHANA GROSSBARD, San Diego State University

LEE BADGETT, University of Massachusetts-Amherst and University of California-Los Angeles-- Why Marry? Evidence from Same-Sex Couples in Europe on the Impact of Financial Incentives on the Marriage Decision

CHRISTOPHER JEPSEN, University of Kentucky, and LISA JEPSEN, University of Northern Iowa--Does Homeownership Vary by Sexual Orientation?

CHRISTOPHER CARPENTER, University of California-Irvine--Sexual Orientation, Work, and Income in Canada

MARIEKA KLAWITTER, University of Washington--The Effects of Sexual Orientation and Marital Status on How Couples Hold Their Money

Discussants: SHOSHANA GROSSBARD, San Diego State University
MARTA MURRAY-CLOSE, University of Michigan
MICHAEL STEINBERGER, Pomona College
SHELLY LUNDBERG, University of Washington


Jan. 4, 2:30 pm
IEFS

Are International Frictions Helpful in Resolving Open Economy Macroeconomic Puzzles?

Presiding: MARIO J. CRUCINI, Vanderbilt University

PATRICK J. KEHOE, Federal Reserve Bank of Minneapolis and University of Minnesota, and VIRGILIU MIDRIGAN, Federal Reserve Bank of Minneapolis and New York University--Can Heterogeneity in Price Stickiness Account for the Dispersion in the Law of One Price Deviations?

JIANDONG JU, University of Oklahoma, and SHANG-JIN WEI, International Monetary Fund--Entrepreneur Heterogeneity, Financial Contact, International Trade and Capital Flows

INDRIT HOXHA, SEBNEM KALEMLI-OZCAN, and DIETZ VOLLRATH, University of Houston--International Financial Integration, Allocative Efficiency, and Economic Growth

VADYM VOLOSOVYCH, Florida Atlantic University--Financial Markets Integration, Risk Sharing and Investor Protection: Theory and Evidence

Discussants: MOTOTSUGU SHINTANI, Vanderbilt University
JAY C. SHAMBAUGH, Dartmouth College
DAVID C. PARSLEY, Vanderbilt University
LUIS MARQUES, University of Rochester


Jan. 4, 2:30 pm
ITFA

Issues in Globalization (Roundtable) (F0)

Presiding: MAX KREININ, Michigan State University

MAX KREININ, Michigan State University--Introduction

ANDREW F. BRIMMER, Brimmer and Company--Financial Institutions in the Age of Globalization

HARRY HOLZER, Georgetown University and Urban Institute--Globalization and Employment Outcomes in the United States

ANNE KRUEGER, Johns Hopkins University (SAIS)--The Nature of Globalization

RAUL MONCARZ, Florida International University--Latin American Responses to Financial Globalization

SCHEHERAZADE REHMAN, George Washington University--Middle East Economic Development and Integration in the Global Economy

DOMINICK SALVATORE, Fordham University--Why is Europe Growing so Slowly?

ALFRED E. ECKES, Ohio University--Commentary


Jan. 4, 2:30 pm
LERA

Assessing the Efficacy of "Union Organizing" Strategies in Union

Presiding: GREGOR GALL, University of Hertfordshire

JACK FIORITO, Florida State University--Union Organising and Union Revitalization in the United States

JOSEPH B. ROSE, McMaster University, Canada--Union Organizing and Union Revitalization in Canada

MARK STUART, University of Leeds--Assessing Union Organizing in the UK: Caught Between a Rock and a Hard Place

RAE COOPER, University of Sydney--Organising in Hard Times: Australian Union Strategy 1996-2006

Discussants: JOHN KELLY, University of London


Jan. 4, 2:30 pm
LERA

Using Industry Studies to Study the Impact of Globalization and Possible
Policy Responses

Presiding: GAIL PESYNA, Alfred P. Sloan Foundation

CLAIR BROWN, University of California-Berkeley--Is Globalization Hurting U.S. High-Tech Professional Workers?

SUSAN HELPER, Case Western Reserve University--Globalization and Value-creation Architecture: a Missing Link?

TIM STURGEON, Massachusetts Institute of Technology--Garbage in, Garbage out: How Better Industry Studies Can Improve the Offshoring Debate

ROSEMARY BATT, Cornell University--Large Scale Globalization Research: Evidence from Call Centers

DAVID WEIL, Boston University--Linking Data and Institutions to Study Labor Market Enforcement: Results from a 5-Year Effort


Jan. 4, 2:30 pm
LERA

Public Sector Employment: Leading or Lagging the "American Dream" in a
Global Economy

Presiding: JOEL CUTCHER-GERSHENFELD, University of Illinois-Urbana-Champaign

Pro Team:
PAULA VOOS, Rutgers University
TERESA GHILARDUCCI, University of Notre Dame
MARLENE KIM, University of Massachusetts

Con Team:
MARICK MASTER, University of Pittsburgh
ROBERT TOBIAS, America's University
DAVID LEWIN, University of California-Los Angeles


Jan. 4, 2:30 pm
MEEA/IAEE

Oil and Energy Issues (Q4)

Presiding: SERDAR SAYAN, TOBB University of Economics and Technology

MOHAMED ABDELAZIZ, GEORGIOS CHORTAREAS, and ANDREA CIPOLLINI, University of Essex -- Stock Prices, Exchange Rates, and Oil: Evidences from Middle East Oil-Exporting Countries

SHAWKAT HAMMOUDEH, Drexel University, RAMAZAN SARI, Abant Izzet Baysal University, and EISA ALEISA, International Monetary Fund--Do Oil-Rich GCC Countries Finance US Current Account Deficit?

JOYCE M. DARGAY, University of Leeds, DERMOT GATELY, New York University, and HILLARD G. HUNTINGTON, Stanford University--Determinants of World Oil Demand, 1971-2006

PETER HARTLEY, KENNETH MEDLOCK III and JAMES A. BAKER III, Rice University--Empirical Evidence on the Operational Efficiency of National Oil Companies

NATHAN BALKE, Southern Methodist University, STEPHEN BROWN and MINE K. YUCEL, Federal Reserve Bank of Dallas--Globalization and Oil Prices: Demand versus Supply Shocks

Discussants: RIZA DEMIRER, Southern Illinois University-Edwardsville
HADI SALEHI ESFAHANI, University of Illinois-Urbana-Champaign
GOKHAN OZERTAN, Bogazici University
AHMET FARUK AYSAN, Bogazici University
MEHMET SERKAN TOSUN, University of Nevada-Reno


Jan. 4, 2:30 pm
NAEE/NCEE

Economics Education: Curriculum and Pedagogy (A2)

Presiding: WILLIAM BOSSHARDT, Florida Atlantic University

JODY HOFF, Federal Reserve Bank of San Francisco, and JANE LOPUS, California State University-East Bay --The Effects of the Open and Operating Curriculum Program on Learning High School Economics: Alternative Assessment Strategies.

BRIAN PETERSON, Central College--The Wal-Mart Effect: Teaching Principles of Microeconomics with Wal-Mart

K. K. FUNG and VETI COMESONGSRI, University of Memphis--Using Collabics to Manage Economics Writing Assignments for Large Classes

MOHAMMAD ASHRAF, University of North Carolina at Pembroke--The Behavior of Utility Maximizing Members in a Classroom Group Project: Implications of the Envelope Theorem

Discussants: MARCELO CLERICI-ARIAS, Stanford University
TIMOTHY DIETTE, Washington and Lee University
DANIEL TALLEY, Dakota State University
LOUIS JOHNSTON, College of Saint Benedict/Saint John's University


Jan. 4, 2:30 pm
NAFE

Forensic Economics I (K4)

Presiding: WILLIAM M. G. PEARSON, Spectrum Economics, Inc.

GARY R. SKOOG, Legal Econometrics, Inc. and De Paul University, and JAMES CIECKA, De Paul University--The Dynamic Structure of the Present Value Function

LAWRENCE M. SPIZMAN, State University of New York-Oswego, and MARC WEINSTEIN, Team Econometrics, LLC--Geometric v. Arithmetic: Which Mean Should the Forensic Economist Utilize?

KEVIN E. CAHILL, Analysis Group, Inc., MICHAEL D. GIANDREA, U.S. Bureau of Labor Statistics, and JOSEPH F. QUINN, Boston College--The Role of Re-entry in the Retirement Process

Discussants: EDWARD FOSTER, University of Minnesota
PRIYANKA SINGH, University of Texas-Dallas
BARRY BEN-ZION, Consulting Economist


Jan. 4, 2:30 pm
NEA

Is Diversity Enough to Increase the Doctorate to Faculty Pipeline: The Influence of Earnings and Professional Development (I2)

Presiding: RHONDA VONSHAY SHARPE, University of Vermont

LISA DICKSON, University of Maryland-Baltimore County--Is Diversity Enough to Increase the Doctorate to Faculty Pipeline: The Influence of Earnings and Professional Development

CHARLES BECKER, Duke University and GREGORY PRICE, Jackson State University--Curriculum Intensity in Graduate Preparatory Programs: Impacts on Performance and Progression to Graduate Study Among Minority Students in Economics

WILLIAM DARITY, Duke University, RHONDA VONSHAY SHARPE, University of Vermont, and OMARI SWINTON, Duke University--Is There Value Added from Postdoctoral Fellowships in the Social Sciences?

Discussants: CECILIA A. CONRAD, Pomona College
WILLIAM RODGERS, III, Rutgers University


Jan. 4, 2:30 pm
NTA

What Can Experimental Economics Teach Us About Public Finance? (H2)

Presiding: SETH H. GIERTZ, Congressional Budget Office

JAMES ALM and DAVID SJOQUIST, Georgia State University--Experimental Tests of the "Flypaper Effect"

DIRK ENGELMANN, University of London, and NIKOS NIKIFORAKIS, University of Melbourne--Punishment and Feuds in Public Goods Games in the Laboratory

TODD CHERRY and MICHAEL MCKEE, Appalachian State University--Voter Responses to Congested Public Goods: Raise Taxes versus Ration Access?

CATHERINE ECKEL, PHILIP GROSSMAN, and SHERRY XIN LI, University of Texas-Dallas--Giving to Government: Voluntary Taxation in the Lab

Discussants: SUSAN LAURY, Georgia State University
CHRISTIAN VOSSLER, University of Tennessee-Knoxville


Jan. 4, 2:30 pm
NAEFA

Central Bank Communication and Financial Markets (E5)

Presiding: BRIAN MADIGAN, Federal Reserve Board

MICHAEL EHRMANN and MARCEL FRATZSCHER, European Central Bank--Social Value of Public Information -- Testing the Limits of Transparency

DAVID-JAN JANSEN, De Nederlandsche Bank, and JAKOB DE HAAN, University of Groningen and CESifo--The Importance of Being Vigilant: How Effective has ECB Communication Been in Influencing Euro Area Inflation Expectations?

CARLO ROSA, London School of Economics, Ente Luigui Einaudi, and Institute for the World Economy, and GIOVANNI VERGA, University of Parma--What Moves Market Interest Rates: The ECB or the Fed?

OZER KARAGEDIKLI, Reserve Bank of New Zealand, and PIERRE SIKLOS, Wilfrid Laurier University--It's a Question of Style: Central Bank Communication and the Exchange Rate? New Zealand vs Australia

Discussants: ROBERT CHIRINKO, University of Illinois-Chicago
WILLIAM ENGLISH, Federal Reserve Board
BRIAN MADIGAN, Federal Reserve Board
ELLIS TALLMAN, Federal Reserve Bank of Atlanta


Jan. 4, 2:30 pm
SGE

Behavioral Effects of Tax Policy

Presiding: PAM MOOMAU, Joint Committee on Taxation

GERALD AUTEN and DAVID JOULFAIAN, U.S. Department of the Treasury--The Taxable Income Elasticity Revisited: Evidence from a Long Panel

ITHAI LURIE and BRADLEY HEIM, U.S. Department of the Treasury--Do Increased Premium Subsidies Affect How Much Health Insurance Is Purchased? Evidence from the Self-Employed

BRADLEY HEIM, U.S. Department of the Treasury--The Responsiveness of Reported Self-Employment Income to Tax Rate Changes

THORNTON MATHESON, U.S. Department of the Treasury--The Effect of the Corporate Income Tax on Leverage in Public Corporations

Discussants: LEN BURMAN, Urban Institute
WILLIAM GENTRY, Williams College


Jan. 4, 2:30 pm
TPUG

Competition and Technology in Transportation

Presiding: JEFFREY P. COHEN, University of Hartford

JAN BRUECKNER and VIVEK PAI, University of California-Irvine--Technological Innovation in the Airline Industry: The Impact of Regional Jets

W. DAVID WALLS and LASHENG YUAN, University of Calgary--Organization, Strategy, and Competition in Transportation Networks

KEVIN HENRICKSON, Gonzaga University, and WESLEY WILSON, University of Oregon--Market Dominance and Competition: A Study of Spatial Price Discrimination in Rail Markets

JIA YAN, Washington State University, XIAOWEN FU, Hong Kong Polytechnic University, and TAE OUM, University of British Columbia--Market Power, Product Differentiation, and Hub Premium

Discussants: ROBERT WINDLE, University of Maryland
KEN BUTTON, George Mason University
ANDREW HAUGHWOUT, Federal Reserve Bank of New York
JOHN HOWARD BROWN, Georgia Southern University


Jan. 4, 2:30 pm
URPE

Issues in Development, Finance and Institutional Economics (O1)

Presiding: EDWARD NELL, New School for Social Research

PHIL O'HARA, Curtin University--Social Structures of Accumulation Theory and Empirics: Reassessment, Reconstruction, and Future Research

CAMERON M. WEBER, New School of Social Research--Questioning Development Orthodoxy

RAMAA VASUDEVAN, Colorado State University--From the Gold Standard to the Floating Dollar Standard: The Relevance of Marx's Conception of World Money

MATIAS VERNENGO and YONGBOK JEON, University of Utah--Verdoorn Effects in the U.S. Economy

Discussants: SCOTT CARTER, University of Tulsa
LAURIE JOHNSON, University of Denver
CHRISTOPHER RUDE, York University



Jan. 4, 4:45 pm
AEA

Richard T. Ely Lecture

Presiding: AVINASH DIXIT, Princeton University

SIR NICHOLAS STERN, HM Treasury, UK Government--Economics of Climate Change


Jan. 4, 6:00 pm
AFEA

Presidential Address and General Meeting


Jan. 4, 7:00 pm
AAEA

T.W. Schultz Memorial Dinner and Keynote Address

Presiding: ROBERT EVENSON, Yale University, and WALLACE HUFFMAN, Iowa State University

DANIEL MCFADDEN, University of California-Berkeley


Saturday, January 5, 2008

Jan. 5, 7:45 am
ASE

Presidential Breakfast

Presiding: JOHN B. DAVIS, Marquette University and University of Amsterdam

JOHN P. TIEMSTRA, Calvin College--Rethinking the Costs of Economic Growth


Jan. 5, 8:00 am
AAEA

Growth, Globalization, and Nutrition and Health Standards in Food Markets (I1)

Presiding: SCOTT ROZELLE, Stanford University

JOHAN SWINNEN, University of Leuven (KUL)--The Political Economy of Nutrition and Health Concerns and Regulations in Food Markets

SCOTT ROZELLE, Stanford University, and JIKUN HUANG--Changes In Food Standards With Growth: Evidence from The Horticultural Revolution in China

BART MINTEN, IFPRI-New Delhi Office--On the Benefits of Improving Food Standards in Poor Economies: Evidence from Madagascar

Discussant: TERRY ROE, University of Minnesota


Jan. 5, 8:00 am
AEA

The Subprime Mortgage Crisis

Presiding: To be announced.

ALAN BLINDER, Princeton University
PAUL KRUGMAN, Princeton University
NOURIEL ROUBINI, New York University
ROBERT SHILLER, Yale University


Jan. 5, 8:00 am
AEA

Neuroeconomic Models of Economic Decision-Making

Presiding: B. DOUGLAS BERNHEIM, Princeton University

ANTONIO RANGEL, CalTech and NBER--The Role of Computation Time in the Construction of Decision Values

ANDREW CAPLIN, MARK DEAN, and PAUL GLIMCHER, New York University--Neuroeconomics: Axioms and Experiments

ISABELLE BROCAS and JUAN D. CARILLO, University of Southern California and CEPR--The Architecture of the Brain: Conflicts and Constraints

Discussants: DAVID LAIBSON, Harvard University
DREW FUDENBERG, Harvard University
ALBERTO BISIN, Harvard University


Jan. 5, 8:00 am
AEA

Better Living through Economics: III

Presiding: JOHN SIEGFRIED, Vanderbilt University

MICHAEL BOSKIN, Stanford University--Price Indexes

JOHN B. TAYLOR, Stanford University--Monetary Policy

ANNE KRUEGER, Johns Hopkins University--Trade Liberalization

Discussants: JERRY HAUSMAN, Massachusetts Institute of Technology
LAURENCE MEYER, Macroeconomic Advisers, Inc.
DOUGLAS IRWIN, Dartmouth College


Jan. 5, 8:00 am
AEA

Empirical Work on Asymmetric Information in Insurance Markets

Presiding: AMY FINKELSTEIN, Massachusetts Institute of Technology

PIERRE-ANDRE CHIAPPORI and BERNARD SALANIE, Columbia University--Modeling Competition and Market Equilibrium under Asymmetric Information: Empirical Issues

ALESSANDRO LIZZERI, New York University, and IGAL HENDEL, Northwestern University--Who Commits to Long-Term Contracts? How Much Does It Cost? The Case of Life Insurance

DAVID CUTLER, Harvard University, AMY FINKELSTEIN, Massachusetts Institute of Technology, and KATHLEEN MCGARRY, University of California-Los Angeles--Preference Heterogeneity in Insurance Markets

Discussants: LIRAN EINAV, Stanford University
HANMING FANG, Yale University
TOMAS PHILIPSON, University of Chicago


Jan. 5, 8:00 am
AEA

Do We Have Enough Merit Goods: A Symposium in Honor of Richard Musgrave

Presiding: BARBARA R. BERGMANN, American University

HENRY AARON, Brookings Institution
JAMES HINES, University of Michigan
DUTCH LEONARD, Harvard University
JOSEPH NEWHOUSE, Harvard Universitry
WALLACE OATES, University of Maryland
PEGGY MUSGRAVE, University of California-Santa Cruz


Jan. 5, 8:00 am
AEA

Dynamic Bargaining and Coalition Formation (C7)

Presiding: MUHAMET YILDIZ, Massachusetts Institute of Technology

ALP SIMSEK and MUHAMET YILDIZ, Massachusetts Institute of Technology--Durability of Bargaining Power and Deadline Effect

WILLIAM FUCHS, University of Chicago, and ANDRZEJ SKRZYPACZ, Stanford University--Bargaining with Arrival of New Traders

DARON ACEMOGLU, Massachusetts Institute of Technology, GEORGY EGOROV, Harvard University, and KONSTANTIN SONIN, New Economic School--Dynamics and Stability of Constitutions, Coalitions, and Clubs

ATTILA AMBRUS and SHIH-EN LU, Harvard University--Fixed Deadline Multilateral Bargaining with Random Arrival Times

Discussants: ANDRZEJ SKRZYPACZ, Stanford University
GEORGY EGOROV, Harvard University
ATTILA AMBRUS, Harvard University
MUHAMET YILDIZ, Massachusetts Institute of Technology


Jan. 5, 8:00 am
AEA

Agglomeration and Wages (R0)

Presiding: EDWARD L. GLAESER, Harvard University

EDWARD L. GLAESER, Harvard University--Agglomeration and Wages: Opening Remarks

WILLIAM STRANGE, University of Toronto, MARIGEE BACOLOD, University of California-Irvine, and BERNARDO BLUM, University of Toronto--Skills in the City: A Hedonic Approach to the Urban Wage Premium

GILLES DURANTON, University of Toronto, PIERRE-PHILIPPE COMBES, GREQAM - University of Aix-Marseille, and LAURENT GOBILLON, Institut National d'Etudes Démographiques--Spatial Wage Disparities: Sorting Matters!

STEPHEN L. ROSS, University of Connecticut, and SHIHE FU, Southwestern University of Finance and Economics--Wage Premia in Employment Clusters: Agglomeration Economies or Worker Heterogeneity?

Discussants: JAMES B. REBITZER, Case Western Reserve University
STUART S. ROSENTHAL, Syracuse University
DAN A. BLACK, University of Chicago


Jan. 5, 8:00 am
AEA

Optimal Policy in New DSGE Environments (D6)

Presiding: SANJAY CHUGH, University of Maryland

STEPHANIE SCHMITT-GROHE and MARTIN URIBE, Duke University--Comparing Two Variants of Calvo-Type Wage Stickiness

ESTER FAIA, University of Rome--Ramsey Monetary Policy with Labor Market Frictions

DAVID ARSENEAU and SANJAY CHUGH, Federal Reserve Board--Optimal Fiscal and Monetary Policy with Costly Wage Bargaining

BORAGAN ARUOBA, University of Maryland, and SANJAY CHUGH, Federal Reserve Board--Optimal Fiscal and Monetary Policy When Money is Essential

Discussants: DALE HENDERSON, Federal Reserve Board
SANJAY CHUGH, University of Maryland
THOMAS LUBIK, Federal Reserve Bank of Richmond
STEFANIA ALBANESI, Columbia University


Jan. 5, 8:00 am
AEA

Lab and Field Experiments on Ethnic Differences (C9)

Presiding: TOMOMI TANAKA, Arizona State University

MARCO CASTILLO, Georgia Institute of Technology, RAGAN PETRIE, Georgia State University, and MAXIMO TORERO, International Food Policy Research Institute--Ethnic and Social Barriers to Cooperation: Experimental Evidence of the Extent and Nature of Discrimination in Urban Peru

CARMIT SEGAL, Harvard Business School, MURIEL NIEDERLE, Stanford University, RAGAN PETRIE, Georgia State University, and LISE VESTERLUND, University of Pittsburgh--Race Differences in Competitive Attitudes

TOMOMI TANAKA, Arizona State University, COLIN CAMERER, California Institute of Technology, and QUANG NGUYEN, University of Hawaii--Status, Ethnicity, and Wealth in Vietnam: Evidence from Experimental Games

Discussants: TANYA ROSENBLAT, Wesleyan University
SEDA ERTAC, University of Chicago
ROBERTO WEBER, Carnegie Mellon University


Jan. 5, 8:00 am
AEA

Entry and Industry Dynamics (L1)

Presiding: BRUCE PETERSEN, Washington University

VICTOR AGUIRREGABIRIA, University of Toronto, and CHUN-YU HO, Boston University--A Dynamic Oligopoly Game of the U.S. Airline Industry: Estimation and Policy Experiments

TIMOTHY DUNNE, Federal Reserve Bank of Cleveland, SHAWN KLIMEK, U.S. Census Bureau, MARK ROBERTS, and YI XU, Pennsylvania State University--Market Structure and Industry Dynamics in Service Industries

JAMES BROWN, Montana State University, and BRUCE PETERSEN, Washington University--Public Entrants, Public Equity Finance and Creative Destruction in the High-Tech Sector

BOYAN JOVANOVIC, New York University, and PETER ROUSSEAU, Vanderbilt University--Vintage Organization Capital

Discussants: SHAWN KLIMEK, U.S. Census Bureau
VICTOR AGUIRREGABIRIA, University of Toronto
TIMOTHY DUNNE, Pennsylvania State University
BRUCE PETERSEN, Washington University


Jan. 5, 8:00 am
AEA

Market Segmentation and Asset Prices (G1)

Presiding: HAROLD COLE, University of Pennsylvania

YILI CHIEN, Purdue University, HAROLD COLE, University of Pennsylvania, and HANNO LUSTIG, University of California-Los Angeles--Asset Prices and Consumption Allocations with Heterogeneous Trading Opportunities

FRANCISCO GOMES, London Business School--Fiscal Policy, Asset Pricing and Economic Activity in a Savers-Spenders Economy

FATIH GUVENEN, University of Texas-Austin, and MARTIN SCHNEIDER, New York University--Consumption Risk and Portfolio Choice

MARKUS BRUNNERMEIER, Princeton University, STEFAN NAGEL, Stanford University, and LASSE PEDERSEN, New York University--Carry Trades and Currency Crisis

Discussants: NARAYANA KOCHERLAKOTA, University of Minnesota
DIRK KRUEGER, University of Pennsylvania
URBAN JERMANN, University of Pennsylvania
ADRIEN VERDELHAN, Boston University


Jan. 5, 8:00 am
AEA

Information in General Equilibrium Models of the Business Cycle (E3)

Presiding: BRUCE MCGOUGH, Oregon State University

RICARDO REIS, Princeton University, and GREGORY MANKIW, Harvard University--Sticky InformaItion in General Equilibrium

CHRISTIAN HELLWIG, University of California-Los Angeles--Heterogeneous Information and Business Cycle Fluctuations

WILLIAM DUPOR, Ohio State University, TOMIYUKI KITAMURA, and TAKAYUKI TSURUGA, --Do Sticky Prices Need to Be Replaced with Sticky Information?

BRUCE MCGOUGH, Oregon State University, WILLIAM BRANCH, University of California-Irvine, JOHN CARLSON, Federal Reserve Bank of Cleveland, GEORGE EVANS, University of Oregon--Adaptive Learning, Endogenous Inattention, and Changes in Monetary Policy

Discussants: JOHN WILLIAMS, Federal Reserve Bank of San Francisco
BRUCE MCGOUGH, Oregon State University
MARCO MAIRUDO
GIUSEPPE RAGUSA


Jan. 5, 8:00 am
AEA

International Finance and Capital Flows (F3)

Presiding: CHARLES ENGEL, University of Wisconsin

MEHMET CANER and STEVEN HUSTED, University of Pittsburgh--Capital Inflows to Developed Countries

VALERIE CERRA, International Monetary Fund, and SWETA SAXENA, Bank for International Settlements--The Monetary Model Strikes Back: Evidence from the World

MARCO CIPRIANI and GRACIELA KAMINSKY, George Washington University--A New Era of International Financial Integration: Global, Market, and Regional Factors

ANDREW ROSE, University of California-Berkeley--A Stable International Monetary System Emerges: Bretton Woods, Reversed

Discussants: RAMON MORENO, Bank for International Settlements
CHARLES ENGEL, University of Wisconsin
ESWAR PRASAD, Cornell University
MICHAEL DOOLEY, University of California-Santa Cruz


Jan. 5, 8:00 am
AEA

Assignment, Uncertainty and Wage Inequality (D3)

Presiding: LUIS GARICANO, University of Chicago

FLAVIO CUNHA, University of Chicago--Stochastic Volatity in Labor Income Across Schooling Groups

ARNAUD DUPUY, Maastricht University--Educational Self-selection, Tasks Assignment and Rising Wage Inequality

MICHAEL SATTINGER, State University of New York-Albany--Assignment, Hierarchies and Upper Tails

LUIS GARICANO, University of Chicago, and THOMAS HUBBARD, Northwestern University--The Return to Knowledge Hierarchies

Discussants: LINDA WONG, State University of New York-Binghamton
MARKO TERVIÖ, University of California-Berkeley
XAVIER GABAIX, Massachusetts Institute of Technology
GERARD PFANN, Maastricht University


Jan. 5, 8:00 am
AEA

International Migration and Remittances (O1)

Presiding: DEAN YANG, University of Michigan

EDWARD MIGUEL and JOAN HAMORY, University of California-Berkeley--Individual Ability and Selection into Migration in Kenya

NAVA ASHRAF, Harvard Business School, CLAUDIA MARTINEZ, University of Chile, DEAN YANG, and DIEGO AYCINENA, University of Michigan--Remittances and the Problem of Control: A Field Experiment with Migrant Families in El Salvador and Washington, D.C.

MICHAEL KREMER, RYAN BUBB, Harvard University, and DAVID LEVINE, University of California-Berkeley--The Economics of International Refugee Law

DAVID MCKENZIE, World Bank, JOHN GIBSON, University of Waikato, and STEVEN STILLMAN, Motu Economic and Public Policy Research--The Impacts of International Migration on Remaining Household Members: Omnibus Results from a Migration Lottery Program

Discussants: CHRIS WOODRUFF, University of California-San Diego
LANT PRITCHETT, World Bank
SEEMA JAYACHANDRAN, Stanford University
MARK ROSENZWEIG, Yale University


Jan. 5, 8:00 am
AEA

Auctions

Presiding: PRESTON MCAFEE, Caltech and Yahoo Research

JINGFENG LU, National University of Singapore--A Unified Framework for Auctions Design with Identity-Specific and Financial Externalities

LUCIANO DE CASTRO, University of Illinois-Urbana-Champaign--Affiliation, Equilibrium Existence and the Revenue Ranking of Auctions

DANIEL ELFENBEIN and BRIAN MCMANUS, Washington University-St. Louis--A Greater Price for a Greater Good? The Charity Premium in Online Auctions

Discussant: CHARLES ZHENG, Iowa State University


Jan. 5, 8:00 am
AEA

Propagation Mechanisms in Business Cycle Models

Presiding: NOBUHIRO KIYOTAKI, Princeton University

EDWARD KNOTEK II, Federal Reserve Bank of Kansas City--A Tale of Two Rigidities: Sticky Prices in a Sticky-Information Environment

ROGER ALIAGA-DIAZ and MARIA PIA OLIVERO, Drexel University--Macroeconomic Implications of Market Power in Banking

ANDRE SILVA, Universidade Nova de Lisboa--Prices and Money after Interest Rate Shocks with Endogenous Market Segmentation

CATERINA MENDICINO, Bank of Canada--On the Amplification Role of Collateral Constraints

Discussants: RICARDO REIS, Princeton University
ADAM ASHCRAFT, Federal Reserve Bank of New York
MURILLO CAMPELLO, University of Illinois
NOBUHIRO KIYOTAKI, Princeton University


Jan. 5, 8:00 am
AEA

The Impact of School Policies on Student Achievement

Presiding: BRIDGET LONG, Harvard University

SAMRAT BHATTACHARYA, Fifth Third Bank--Effects of Repeating a Grade on Child Test Scores

JANE COOLEY, University of Wisconsin-Madison--Determining "Optimal" Classroom Groupings: Harnessing the Power of Peers

FANG LAI LAI, New York University--How Do Classroom Peers Affect Student Outcomes? Evidence from a Natural Experiment in Beijing's Middle School Admission Procedure

RAJASHRI CHAKRABARTI, Federal Reserve Bank of New York--The Effect of No Child Left Behind on Public Schools: The Role of Sanctions versus Stigma

Discussants: JORDAN MATSUDAIRA, University of California-Berkeley
BRIDGET LONG, Harvard University
LARS LEFGREN, Brigham Young University


Jan. 5, 8:00 am
AEA

Incentives and Pro-social Behavior: Evidence from Field Experiments (C9)

Presiding: ROLAND BENABOU, Princeton University

NICOLA LACETERA, Case Western Reserve University, and MARIO MACIS, University of Michigan--Intrinsic and Extrinsic Motivations: A Study of Italian Blood Donors, 1980-2005

LORENZ GOETTE, Federal Reserve Bank of Boston, and ALOIS STUTZER, University of Basel--Blood Donation and Incentives: Evidence From a Large-Scale Field Experiment

DAN ARIELY, Massachusetts Institute of Technology, ANAT BRACHA, Tel Aviv University, STEPHAN MEIER, Federal Reserve Bank of Boston--Incentives and the Signal of Behaving Pro-Socially: Evidence from Field and Lab Experiments

SERA LINARDI and MARGARET ANNE MCCONNELL, California Institute of Technology--What Motivates Volunteers? Field and Lab Experiments

Discussants: ALDO RUSTICHINI, University of Minnesota
RACHEL CROSON, University of Pennsylvania
ARMIN FALK, University of Bonn
FELIX OBERHOLZER-GEE, Harvard Business School


Jan. 5, 8:00 am
AEA

Presentations from the Teaching Innovations Program (TIP) for Economics Instructors

Presiding: MICHAEL SALEMI, University of North Carolina

DAGNEY FAULK, Indiana University Southeast--Formative and Summative Assessment in Economics Principles Courses: Are Applied Group Exercises Effective?

WAYNE A. GROVE, Lemoyne College, and JERRY EVENSKY, Syracuse University--Student Effort, Feedback about Their Effort, and Learning

GAIL HEYNE HAFER, St. Louis Community College Meramec--Using Cooperative Learning to Enhance Student Research and Writing

KIRSTEN MADDEN, Millersville University--Engaged Learning with the Interpretive Question Cluster Discussion Technique: Student Outcomes in a History of Economic Thought Course

Discussants: YU-MONG HSIAO, Campbell University
TOM SCHEIDING, Elizabethtown College
BRIAN PETERSON, Central College
JUDY SMRHA, Baker University


Jan. 5, 8:00 am
AEA/ACES

Worker Flows from a Comparative Perspective (P5)

Presiding: ADRIANA KUGLER, University of Houston

STEPAN JURAJDA, Center for Economic Research and Graduate Education of Charles University, Czech Republic, and KATHERINE TERRELL, University of Michigan--Regional Labor Markets and Human Capital in Transition Economies

JOHN HALTIWANGER, University of Maryland, STEFANO SCARPETTA, Organization for Economic Development and Cooperation, and HELENA SCHWEIGER, European Bank for Reconstruction--Assessing Job Flows Across Countries: The Role of Industry, Firm-size and Regulations

ALEJANDRO MICCO, Central Bank of Chile, and CARMEN PAGES, Inter-American Development Bank--The Economic Effects of Employment Protection: Evidence from International Industry-Level Data

ADRIANA KUGLER, University of Houston--The Effects of Employment Protection in Europe and the U.S.

Discussants: DAVID AUTOR, Massachusetts Institute of Technology
STEPAN JURAJDA, Center for Economic Research and Graduate Education of Charles University, Czech Republic
STEFANO SCARPETTA, Organization for Economic Development and Cooperation
LAWRENCE KAHN, Cornell University


Jan. 5, 8:00 am
AEA/CES

China's Evolving Labor Markets

Presiding: DENNIS T. YANG, Virginia Tech and Chinese University of Hong Kong

SUE GE, Virginia Tech, and DENNIS T. YANG, Virginia Tech and Chinese University of Hong Kong--Accounting for Rising Wages in China

HONGBIN LI and JUNSEN ZHANG, Chinese University of Hong Kong--Why Doesn't Education Pay in Urban China?

ALBERT PARK, University of Michigan, and YAOHUI ZHAO, Peking University--The Impact of Migration on the Relative Earnings of Skilled and Unskilled Workers in Urban China

JOHN GILES, Michigan State University, and ALAN DE BRAUW, International Food Policy Research Institute--Migrant Opportunity and the Educational Attainment of Youth in Rural China

Discussants: BELTON M. FLEISHER, Ohio State University and IZA
NANCY QIAN, Brown University
SUE GE, Virginia Tech
WILLIAM MCGUIRE, Ohio State University


Jan. 5, 8:00 am
AEA/KAEA

Asian Financial Crisis: Ten Years Later (F3)

Presiding: YONG H. KIM, University of Cincinnati

ROBERT H. DEKLE, University of Southern California, and HUAYU SIN, University of International Business and Economics--Will China Experience a Crisis as in East Asia?

YIN-WONG CHEUNG, University of California-Santa Cruz, MENZIE CHINN, University of Wisconsin, and EIJI FUJII, University of Tsukuba--China's Current Account and Exchange Rate

JONG-WHA LEE, Korea University and Asian Development Bank--Macroeconomic and Financial Interdependence in East Asia: Ten Years after the Crisis

SOYOUNG KIM, Korea University, and YUNG CHUL PARK, Seoul National University--Inflation Targeting in Korea: A Model of Success?

Discussants: JEFFREY FRANKEL, Harvard University
YU-CHIN CHEN, University of Washington
YOONBAI KIM, University of Kentucky
JINILL KIM, Federal Reserve Board


Jan. 5, 8:00 am
AFA

Bank Risk

Presiding: ALLEN BERGER, Federal Reserve Board

CEM DEMIROGLU and CHRISTOPHER M. JAMES, University of Florida--The Information Content of Bank Loan Covenants

JESUS SAURINA SALAS, GABRIEL JIMENEZ, Bank of Spain, and JOSÉ A. LOPEZ, Federal Reserve Bank of San Francisco--How Does Competition Impact Bank Risk Taking?

LARS NORDEN and MARTIN WEBER, University of Mannheim--Checking Account Information and Credit Risk of Bank Customers

VASSO IOANNIDOU and STEVEN R.G. ONGENA, Tilburg University--'Time for a Change': Loan Conditions and Bank Behavior when Firms Switch

Discussants: CHRISTA BOUWMAN, Case Western Reserve University
ASTRID DICK, INSEAD
LORETTA MESTER, Federal Reserve Bank of Philadelphia
LAMONT BLACK, Government of the United States of America


Jan. 5, 8:00 am
AFA

Credit Risk

Presiding: ROBERT GOLDSTEIN, University of Minnesota-Twin Cities

ANDREA BURASCHI, Imperial College London, FABIO TROJANI, and ANDREA VEDOLIN, University of St. Gallen--The Joint Behavior of Credit Spreads, Stock Options and Equity Returns when Investors Disagree

ANTJE BERNDT and ANASTASIYA OSTROVNAYA, Carnegie Mellon University--Information Flow Between Credit Default Swap, Option and Equity Markets

MARK CAREY and MICHAEL B. GORDY, Government of the United States of America--The Bank as Grim Reaper: Debt Composition and Recoveries on Defaulted Debt

Discussants: ALEXANDER DAVID, University of Calgary
GAIYAN ZHANG, University of Missouri-St. Louis
SERGEI DAVYDENK, University of Toronto


Jan. 5, 8:00 am
AFA

Proxy Voting, Privatization and Boards of Directors

Presiding: MICHAEL WEISBACH, University of Illinois-Urbana-Champaign

CINDY R. ALEXANDER, Securities and Exchange Commission, MARK A. CHEN, Georgia State University, DUANE J. SEPPI, and CHESTER S. SPATT, Carnegie Mellon University--The Role of Advisory Services in Proxy Voting

MARTIJN CREMERS, Yale School of Management, and ROBERTA ROMANO, Yale University--Institutional Investors and Proxy Voting: The Impact of the 2003 Mutual Fund Voting Disclosure Regulation

JIANPING DENG, University of Electronic Science and Technology of China, JIE GAN, Hong Kong University of Science & Technology, and JIA HE, Chinese University of Hong Kong--Privatization, Large Shareholders' Incentive to Expropriate, and Firm Performance

JEFFREY L. COLES, Arizona State University, NAVEEN D. DANIEL, and LALITHA NAVEEN, Purdue University--Co-Opted Boards: Causes and Consequences

Discussants: GREGOR MATVOS, University of Chicago
CHESTER SPATT, Carnegie Mellon University
MARA FACCIO, Purdue University
RENÉE ADAMS, Stockholm School of Economics


Jan. 5, 8:00 am
AFA

Volume and Liquidity

Presiding: JENNIFER HUANG, University of Texas-Austin

DANIEL DORN, Drexel University, and GUR HUBERMAN, Columbia University--Turnover and Volatility

TIMOTHY C. JOHNSON, London Business School--Volume, Liquidity, and Liquidity Risk

MARZENA J. ROSTEK and MAREK WERETKA, University of Wisconsin-Madison--The Time Structure of Price Impact in Thin Financial Markets

Discussants: BING HAN, University of Texas-Austin
ARVIND KRISHNAMURTHY, Northwestern University
DIMITRI VAYANOS, London School of Economics & Political Science


Jan. 5, 8:0 0am
AFA

Mutual Funds

Presiding: MARK GRINBLATT, University of California-Los Angeles

THEODORE E. DAY, University of Texas-Dallas, GEORGE Z. LI, New Jersey City University and YEXIAO XU, University of Texas-Dallas--Dividend Distributions and Closed-End Fund Discounts

RUSS R. WERMERS, University of Maryland, YOUCHANG WU, and JOSEF ZECHNER, University of Vienna--Portfolio Performance, Discount Dynamics, and the Turnover of Closed-End Fund Managers

ODED BRAVERMAN, SHMUEL KANDEL, and AVI WOHL, Tel Aviv University--Aggregate Mutual Fund Flows and Subsequent Market Returns

Discussants: JEFFREY PONTIFF, Boston College
LU ZHENG, University of California-Irvine
SHERIDAN TITMAN, University of Texas-Austin


Jan. 5, 8:00 am
AREUEA

Real Estate Derivatives (G1)

Presiding: BRENT W. AMBROSE, Pennsylvania State University

PENG LIU, University of California-Berkeley--A Simple Model of Hedging on Forward Contracts of Real Estates

PATRICK LECOMTE, University Of Cincinnati--Beyond Index-Based Hedging: Can Real Estate Trigger a New Breed of Derivatives Market?

YONGHENG DENG, University of Southern California, and JOHN QUIGLEY, University of California - Berkeley--Index Revision, House Price Risk, and the Market for House Price Derivatives

JEFFERSON DUARTE, University of Washington, and DOUGLAS MCMANUS, Freddie Mac--Residential Mortgage Credit Derivatives

Discussants: BARBARA BUKHVALOVA, Norwegian School of Management
GIANLUCA MARCATO, University of Reading
DAVID FELDMAN, University of New South Wales
RICHARD BUTTIMER, University of North Carolina-Charlotte


Jan. 5, 8:00 am
AREUEA

Housing the Elderly (R2)

Presiding: PETER CHINLOY, American University

MARTIN FARNHAM, University of Victoria, and PURVI SEVAK, Hunter College--Housing Wealth and Retirement Timing

TODD SINAI and NICHOLAS SOULELES, University of Pennsylvania--Net Worth and Housing Equity in Retirement

ZHENGUO LIN, YINGCHUN LIU, and VINCENT YAO, Fannie Mae--Ownership Restriction and Housing Value: Evidence from American Housing Survey

GARY DEAN PAINTER and KWAN OH LEE, University of Southern California--Why Do Elderly Homeowners Become Renters? Life Cycle and Demographic Transitions

Discussants: ISAAC MEGBOLUGBE, Johns Hopkins University
MAN CHO, KDI School
WILLIAM HARDIN, Florida International University
SCOTT SUSIN, U.S. Census Bureau


Jan. 5, 8:00 am
AREUEA

Hedonics & Valuation (R3)

Presiding: DEAN H. GATZLAFF, Florida State University

GANG-ZHI FAN, and WEINA ZHANG, National University of Singapore--An Indifference Binomial Valuation of Urban Land Bid and Asking Prices

A. MONIQUE PARKES and HENRY MUNNEKE, University of Georgia--Catalysts or Cannibals: Are There Spillover Effects From Economic Development Programs?

DOUGLAS J. KRUPKA, IZA Bonn, and DOUGLAS SIMPSON NOONAN, Georgia Institute of Technology--Empowerment Zones, Neighborhood Dynamics, and Direct and Indirect Effects on Housing Values

JOHN CLAPP, University of Connecticut, JYH-BANG JOU, National Taiwan University, and TAN LEE, Yuan Ze University--Hedonic Pricing with Redevelopment Options

Discussants: CARLOS SLAWSON, Louisiana State University
DAVID MACPHERSON, Florida State University
DAVID BRASINGTON, Louisiana State University
TIMOTHY RIDDIOUGH, University of Wisconsin-Madison


Jan. 5, 8:00 am
AFEE

Origins and Significance of Circular and Cumulative Causation (B5)

Presiding: JOHN F. HENRY, University of Missouri-Kansas City

JOHN HALL, Portland State University, and OLIVER WHYBROW, University of Leuven--Continuity, Continuousness, and the Chain of Ideas: Linking Peirce's Synechism and Veblen's Circular and Cumulative Causation

SEBASTIAN BERGER, University of Missouri-Kansas City--Veblen, Myrdal, and Kapp: Meaning and Application of Circular and Cumulative Causation

RIC HOLT, Southern Oregon University, and STEVE PRESSMAN, Monmouth University--Nicholas Kaldor and his Principle of Cumulative Causation

PHILLIP ANTHONY O'HARA, Curtin University--Circular and Cumulative Causation: A Comparison of Myrdal and Kaldor on Growth and Development Dynamics

F. GREGORY HAYDEN, University of Nebraska--Circular and Cumulative Causation and the Social Fabric Matrix

Discussants: EDWARD J. NELL, New School for Social Research
MATHEW FORSTATER, University of Missouri-Kansas City


Jan. 5, 8:00 am
AERE

Public Health Impacts of Air and Water Pollution (Q5)

Presiding: MARY EVANS, University of Tennessee-Knoxville

MARY DAVIS, University of Maine and Harvard School of Public Health, and THOMAS SMITH, Harvard School of Public Health--The Relationship between Economic Trends and Pollution Exposure in a Population of Workers Exposed to Diesel Exhaust

VALERIE MUELLER, Columbia University, ALEXANDER PFAFF, Duke University, JOHN PEABODY, University of California-San Francisco, YAPING LIU, First Hospital of Tsinghhua Hospital, Beijing, China, TRAVIS RIDDELL, Boston Children's Hospital, and KIRK SMITH, University of California-Berkeley--Evaluating the Health Impacts of Improved Stoves in China Using Propensity Score Matching

TIMOTHY BEATTY, University of York, and JAY SHIMSHACK, Tufts University--School Buses, Diesel Emissions, and Children's Health

SHANTI GAMPER-RABINDRAN, University of Pittsburgh, SHAKEEB KHAN, Duke University, and CHRIS TIMMINS, Duke University--The Impact of Piped Water Provision on Infant Mortality in Brazil: A Quantile Panel Data Approach

Discussants: NATALIE SIMON, U.S. Environmental Protection Agency
SUBHRENDU PATTANAYAK, Research Triangle Institute
JOSEPH ALDY, Resources for the Future
SYLVIA BRANDT, University of Massachusetts


Jan. 5, 8:00 am
AFE

CEOs (G3)

Presiding: STEVEN KAPLAN, University of Chicago

MORTEN BENNEDSEN, Copenhagen Business School, FRANCISCO PÉREZ-GONZALEZ, Columbia University, and DANIEL WOLFENZON, New York University--Do CEOs Matter?

LUCIAN ARYE BEBCHUK, Harvard Law School, MARTIJN CREMERS, Yale School of Management, and URS PEYER, INSEAD--CEO Centrality

KOSE JOHN, New York University, and DALIDA KADYRZHANOVA, Columbia University--CEOs, Geography, and Peer Influences in Governance

ANTOINETTE SCHOAR, Massachusetts Institute of Technology--CEO Careers and Style

Discussants: ROBERT PARRINO, University of Texas
ANIL SHIVDASANI, University of North Carolina
S. ABRAHAM RAVID, Cornell University and Rutgers University
MORTEN SORENSON, University of Chicago


Jan. 5, 8:00 am
ES

Econometric Theory (C1)

Presiding: AMAN ULLAH, University of California-Riverside

NINA BOYARCHENKO, University of Chicago, and SERGE LEVENDORSKII--University of Texas-Austin, Estimating Equations For A Class Of Time-Irreversible Multi-Factor Models

MARTIN BURDA, University of Toronto--Local Generalized Minimum Contrast Estimation of Conditional Moment Restrictions Models

ANIL BERA, GABRIEL MONTES-ROJAS, University of Illinois-Urbana-Champaign, and WALTER SOSA-ESCUDERO, Universidad de San Andres, Argentina--General Specification Testing with Locally Misspecified Models

LIANGJUN SU, Peking University, and AMAN ULLAH, University of California-Riverside--Local Polynomial Estimation of Nonparametric Simultaneous Equations Models


Jan. 5, 8:00 am
ES

Economics of Segregation (R2)

Presiding: NATHANIEL BAUM-SNOW, Brown University

JUDITH K. HELLERSTEIN, University of Maryland, DAVID NEUMARK, University of California-Irvine, and MELISSA MCINERNEY, U.S. Census Bureau--Spatial Mismatch Or Racial Mismatch?

YANNIS M. IOANNIDES, Tufts University, and GIULIO ZANELLA, University of Siena--Searching for the Best Neighborhood

BULENT ANIL and DAVID L. SJOQUIST, Georgia State University--The Move Decision among Low-Income Households

DAVID CARD, ALEXANDRE MAS, University of California-Berkeley, and JESSE ROTHSTEIN, Princeton University--Tipping and the Dynamics of Segregation

Discussants: NATHANIEL BAUM-SNOW, Brown University
JONATHAN GURYAN, University of Chicago


Jan. 5, 8:00 am
ES

Search Theory (D8)

Presiding: SUSAN VROMAN, Georgetown University

SIMON BOARD, University of Toronto--Relational Contracts with On-the-Job Search

GABRIELE CAMERA, Purdue University, and CEMIL SELCUK, Washington & Lee University--Price Dispersion with Directed Search

JAMES ALBRECHT, AXEL ANDERSON, and SUSAN VROMAN, Georgetown University--Search by Committee

JAN EECKHOUT and PHILIPP KIRCHER, University of Pennsylvania--The Sorting Effect of Price Competition

Discussants: LEENA RUDANKO, University of Chicago
IAN KING, University of Otago
GUIDO MENZIO, University of Pennsylvania
SHOUYONG SHI, University of Toronto


Jan. 5, 8:00 am
ES

Dynamic Industrial Organization (L0)

Presiding: MATTI LISKI, Helsinki School of Economics

JAN BOONE, Tilburg University, and JOEL SHAPIRO, Universitat Pompeu Fabra--Selling to Consumers with Endogenous Types

VOLKER NOCKE, Oxford University, and MICHAEL D. WHINSTON, Northwestern University--Sequential Merger Review

JAMES D. DANA JR. and YUK-FAI FONG, Northwestern University--Product Quality, Reputation, and Tacit Collusion

LUDWIG RESSNER and MARKUS REISINGER, University of Munich--Dynamic Duopoly with Inattentive Firms

REYER GERLAGH, University of Manchester, and MATTI LISKI, Helsinki School of Economics--Strategic Oil-Dependence


Jan. 5, 8:00 am
ES

Matching and Market Design (C7)

Presiding: ALVIN E. ROTH, Harvard University

PARAG PATHAK, Harvard University, and TAYFUN SONMEZ, Boston College--Leveling the Playing Field: Sincere and Sophisticated Players in the Boston Mechanism

ERIC BUDISH, Harvard University, and ESTELLE CANTILLON, ECARES, Universite Libre de Bruxelles, and CEPR--Strategic Behavior in Multi-unit Assignment Problems: Theory and Evidence from Course Allocations

ATILA ABDULKADIROGLU, Duke University, and SIMON LOERTSCHER, University of Melbourne--Dynamic House Allocations

MAREK PYCIA, Pennsylvania State University--Many-to-One Matching with Complementarities and Peer Effects

Discussants: PAUL MILGROM, Stanford University
MICHAEL OSTROVSKY, Stanford University


Jan. 5, 8:00 am
ES

High Dimensional Estimation (C1)

Presiding: EDWARD VYTLACIL, Columbia University

VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology, and ALEXANDRE BELLONI, IBM and Massachusetts Institute of Technology--Conditional Quantile Processes under Increasing Dimension

JIAN HUANG, University of Iowa, JOEL L. HOROWITZ, Northwestern University, and SHUANGGE MA, Yale University--Asymptotic Properties of Bridge Estimators in Sparse, High-Dimensional Regression Models

ALEXEI ONATSKI, Columbia University-- The Principal Components Estimation Of Large Factor Models When Factors Are Weak

JIANQING FAN, Princeton University, and JIANCHI LV, University of Southern California--Sure Independence Screening for Ultra-High Dimensional Feature Space

Discussants: JOEL HOROWITZ, Northwestern University
ALEXANDRE BELLONI, IBM and Massachusetts Institute of Technology
JINCHI LV, Princeton University
ALEXEI ONATSKI, Columbia University


Jan. 5, 8:00 am
ES

Money, Banking and Payments (E5)

Presiding: PIERRE-OLIVIER WEILL, University of California-Los Angeles

CYRIL MONNET, European Central Bank, THOR KOEPPL, Queens University, and TED TEMZELIDES, University of Pittsburgh--Payments and Mechanism Design

ANTOINE MARTIN and JAMES MCANDREWS, Federal Reserve Bank of New York--Liquidity Saving Mechanisms

CARLO STRUB, University of Basel, and NADJA WIRZ, University of St. Gallen--Patents and Money

ED NOSAL, Federal Reserve Bank of Cleveland--Matching, Money and the Friedman Rule

Discussants: NEIL WALLACE, Pennsylvania State University
PIERRE-OLIVIER WEILL, University of California-Los Angeles
CESAIRE MEH, Bank of Canada
HUBERTO ENNIS, Federal Reserve Bank of Richmond


Jan. 5, 8:00 am
INEM

Concepts and Standards of Good Theories

Presiding: D. WADE HANDS, University of Puget Sound

HANS LIND and JOHAN NYSTROM, Royal Institute of Technology--"Observable" and "Verifiable": Can These be the Basic Concepts in Incomplete Contract Theory?

SAMULI LEPPALA, Turku School of Economics--The Absence of a Definition of Knowledge in Economics: What has Epistemology to Offer?

MENNO ROL, University of Groningen--Conceptual Unification in Economics and Psychology

LUIS MIRELES-FLORES, Erasmus University of Rotterdam--Is Policy Relevance a Theoretical Virtue of Economic Models?

Discussants: D. WADE HANDS, University of Puget Sound


Jan. 5, 8:00 am
LERA

The "Value-Added" Contributions of Unions to Improving Health Care Delivery and Patients Outcomes

Presiding: PETER LAZES, Cornell University NYSILR

PETE CARLSON, Cornell University/NYSILR--Advancing the Front Line of Health Care Transformation

PAUL CLARK, DARLENE CLARK, Pennsylvania State University, CLIVE FULLAGAR,
Kansas State University, and DAN GALLAGHER, James Madison University--Union Efforts to Increase Nurse Voice in Patient Care

JANE NYGAARD, American Federation of Government Employees--AFGE Efforts to Make the Veterans Administration Hospitals a Model of Health Care Delivery

SONDRA OLENDORF, Maimonides Medical Center--The Importance of Front-Line Participation -- Our Experience at Maimonides Medical Center

JAMES BIALKE, SEIU Local 113--Pressures on Local Unions to Change and Create Capacity for Value Added Work


Jan. 5, 8:00 am
LERA

Innovative Teaching in Labor and Employment Relations

Presiding: CHERYL MARANTO, Marquette University

DAPHNE TARAS, University of Calgary--Using Deception to Make Students Unionize

DANIEL J.B. MITCHELL, University of California-Los Angeles--The Vision Thing: Integrating Video and Audio Material into Course Instruction

PAUL F. COLE, American Labor Studies Center--Integrating Labor Studies into the K-12 Curriculum


Jan. 5, 8:00 am
LERA

AILR/LERA Best Papers

Presiding: BRUCE KAUFMANN, Georgia State University

SAUL RUBINSTEIN and ADRIENNE EATON, Rutgers University--The Effects of High-Involvement Work Systems on Employee and Union-Management Communications Networks

REBECCA GIVAN, ARIEL AVGAR, and MINGWEI LIU--Having Your Cake and Eating It Too? The Effects of Hospital Restructuring on Diverse Organizational Outcomes

TERRY WAGAR, St. Mary's University, and CLIVE GILSON, University of Waikato--Is Labor Relations Climate Associated with Improved Workplace Performance? Canadian and New Zealand Evidence

MONICA BIELSKI BORIS, University of Arkansas-Little Rock--Identity at Work: U.S. Labor Union Efforts to Address Sexual Diversity Through Policy and Practice

SHARON HERMES, U.S. Government Accountability Office--Private Pension Reform and Personal Accounts in the UK: Implications for Women

GEORGE TSOGAS, Cass Business School--"Roger and Me" or How to Start on a New Paradigm for 21st Century Industrial Relations


Jan. 5, 8:00 am
MEEA

Poster Session

Presiding: SOHRAB BEHDAD, Denison University

GOKHAN OZERTAN, Bogazici University, SAYED H. SAGHAIAN, University of Kentucky, and ASLIHAN D. SPAULDING, Illinois State University--Consumer Responses to Food Scares: The Case of the 2005-2006 Avian Influenza in Turkey

NICO VELLINGA, JAY SQUALLI and KENNETH WILSON, Zayed University--Can a Wage Subsidy Reduce National Unemployment Rate in the UAE?

JEHAD YASIN, Fort Valley State University--Trade among Arab Gulf Countries: A Gravity Model Approach

NAGLA RIZK, American University in Cairo--Intellectual Property Rights and Development: Open Source Software in Egypt

NURHAN DAVUTYAN, Marmara University--Estimating Tax Evasion in Turkey: An Expenditure Based Approach

AMIR KIA, Utah Valley State College -- Money, Deficits, Debts and Inflation in Emerging Countries: Evidence from Turkey

NAEEM MUHAMMAD, University of Wollongong--Short-Term and Long-Term Dynamic Price Linkages among the GCC Stock Markets and between the Stock Markets of the GCC Countries and Important Western Countries

JAY SQUALLI and KENNETH WILSON, Zayed University, UAE--An Estimate of the Private Returns to Education in the UAE

MAHMOUD ABDELBAKY (ELSAKKARY), Southern Illinois University--Exchange Rate Misalignment across De-Facto Exchange Rate Regimes in MENA

EMAN SELIM, Tant University--The Impact of Exogenous Shocks on the Egyptian Economy and Policy Responses Since the Seventies

M. ENSAR YESILYURT and FILIZ YESILYURT, Pamukkale University--The Efficiency Analysis of Turkish Manufacturing

AHMET FARUK AYSAN and SANLI PINAR CEYHAN, Bogazici University--Structural Change and Efficiency of Banking in Turkey: Does the Ownership Matter?

O. MIKHAIL, University of Central Florida--The Persistence of Institutions and Economic Outcomes: An Application to Egypt

ALI DARRAT and JAYANTA SARKAR, Louisiana Tech University--Determinants and Growth Consequences of Foreign Direct Investment: The Experience of Major Host Countries in MENA

GWENDOLYN RODRIGUES and NAEEM MUHAMMAD, University of Wollongong--Sources and Impacts of Globalization in the MENA Countries: An Empirical Analysis

SEBOUH AINTABLIAN and MYRNA BOGHOSSIAN, Lebanese American University--Oil: A Blessing or a Curse? The Effect of Oil Price Shocks across Industries in Selected Countries of the MENA Region

SULEIMAN I. COHEN, Erasmus University--UAE Economy More Dualistic than Other GCC?

DOAA SALMAN, MSA University--Women and Myths of Today: An Investigation of the Reasons for Gender Inequalities in Egyptian Rural Areas

HALA EL RAMLY, American University in Cairo--Are Incomes of Arab Countries Converging?

MALDA AL-SARAYJI, George Mason University--Trafficking Traffic!

BASEL SALEH, Radford University--A Fragile Economy, A Fragile Peace: The Case of the Palestinian Authority


Jan. 5, 8:00 am
NAFE

Forensic Economics II (K4)

Presiding: FRANK L. SLESNICK, Bellarmine University

DAVID H. CISCEL, Emeritus, University of Memphis, and DAVID C. SHARP, Nathan Associates, Inc.-Memphis--Selling Fried Chicken: Issues of Combining Business Losses with Personal Injury -- A Case Study

BOYD L. FJELDSTED, University of Utah--Stationarity of the Real Earnings Growth Rate with Implications for Determination of a Net Discount Rate

SHAEL N. WOLFSON, Forensic Economics, Corp.--Forensic Economic Issues In the Post Katrina Gulf South

Discussants: MARC A. WEINSTEIN, Team Economics, LLC
CHRISTOPHER J. BRUCE, University of Calgary
THOMAS RONEY, Thomas Roney LLC


Jan. 5, 8:00 am
NEA

Credit Knowledge and Usage Among Minority Consumers and the Subprime Lending Market (D1)

Presiding: GEORGE GALSTER, Wayne State University

CHARLES BETSEY, Howard University--Perceived Truth: How Perceptions of Creditworthiness Affect Equal Credit Access

SHELIA ARDS, SAMUEL MYERS, University of Minnesota, and INHYUCK HA, Western Carolina University--Misperceptions of Credit Worthiness and Racial Differences in Credit Card Usage

CHRISOPHER RICHARDSON, GMAC Mortgage LLC--An Analysis of Higher-Cost Mortgage Credit: Does Market Competition Matter?

ANGELA M. WILLIAMS FOSTER, University of Pittsburgh--The Effects of Neighborhood Attributes on Sub-Prime Lending Propensity

Discussants: NGINA CHITEJI, Skidmore College
VANESSA GAIL PERRY, George Washington University


Jan. 5, 8:00 am
NAEFA

Financial Market Failures and the Role of Government (G1)

Presiding: W. SCOTT FRAME, Federal Reserve Bank of Atlanta

JOHN DUCA, Federal Reserve Bank of Dallas--Risk and the Use of Collateralized Open Market Paper During the Great Depression

KIRSTEN HEPPKE-FALK, Deutsche Bundesbank, and GUNTRAM WOLFF, Deutsche Bundesbank, University of Pittsburgh, and ZEI-University of Bonn--Moral Hazard and Bail-Out in Fiscal Federations: Evidence for the German Lander

MARC HAYFORD and A.G. MALLIARIS, Loyola University-Chicago--Financial Instabilities, Asset Bubbles, and the Role of Central Banks

JAMES WILCOX, University of California-Berkeley, and YUKIHIRO YASUDA, University of California-Berkeley and Tokyo Keizai University--Do Government Loan Guarantees Raise or Lower Non-Guaranteed Lending? The Case of Japanese Banks and Borrowers

Discussants: GARY RICHARDSON, University of California-Irvine
GEORGE KAUFMAN, Loyola University
ANDREW FILARDO, Bank for International Settlements
RAPHAEL BOSTIC, University of Southern California


Jan. 5, 8:00 am
SABE

Controlled and Natural Experiments in Behavioral Economics (C9)

Presiding: MARK PRINGLE, University of Nevada-Reno

JAMES HECKMAN, University of Chicago--Controlled and Natural Experiments in Economics

HERBERT GINTIS, University of Massachusetts-Amherst--Behavioral Game Theory and Human Nature

MICHELLE BADDELEY, CHRIS BURKE, PHILLIPPE TOBLER, and WOLFRAM SCHULTTZ, Cambridge University--A Behavioral Analysis of Herding Games

SEAN FLYNN, Vassar College, and MICHAEL DONNELLY, Federal Reserve Board--Does Labor Contract Completeness Drive Unionization? Some Experimental Evidence

NATHAN BERG, University of Texas-Dallas, and WERNER GUTH, Max Planck Institute of Economics--On Logical Inconsistency and Forgiveness

NATALIA OVCHINNIKOVA, HANS CZAP, St. Lawrence University, GARY LYNNE, University of Nebraska-Lincoln, and CHRIS LARIMER, University of Northern Iowa -- Experiments Related to Care for the Environment


Jan. 5, 8:00 am
SGE

Market Work and Time Use

Presiding: CHARLENE KALENKOSKI, Ohio University

HARLEY FRAZIS and JAY STEWART, U.S. Bureau of Labor Statistics--How Much Do People Really Work in the New Economy?

JENNIFER WARD-BATTS, Claremont McKenna College--Household Production and Consumption around Retirement: Evidence from Time-Use Data

CHARLENE KALENKOSKI, Ohio University, and SABRINA WULFF PABILONIA, U.S. Bureau of Labor Statistics--Does Working While in High School Crowd Out Study Time?

Discussants: YOUNGHWAN SONG, Union College
MICHAEL GIANDREA, U.S. Bureau of Labor Statistics
ANNE WINKLER, University of Missouri-St.Louis


Jan. 5, 8:00 am
URPE

Heterodox Macroeconomics: Crotty's Integration of Keynes, Marx and Institutionalism (E6)

Presiding: JONATHAN GOLDSTEIN, Bowdoin College

JONATHAN GOLDSTEIN, Bowdoin College--Heterodox Macroeconomics: The Integration of Keynes and Marx

MARTIN WOLFSON, University of Notre Dame--Methodology and Radical Political Economics: Marx, Keynes, Mitchell and Crotty

GERALD EPSTEIN, University of Massachusetts-Amherst--Marx, Keynes and Crotty: The Case for Capital Controls Revisited

MICHAEL HILLARD, University of Southern Maine--Historically Specific, Institutionally Contingent: Labor Movements, Class Struggles and Capitalisms

ÖZGÜR ORHANGAZI, Roosevelt University - Macroeconomic Fragility in the Age of Financialization?

Discussants: MICHELLE NAPLES, College of New Jersey
ROBERT POLLIN, University of Massachusetts-Amherst


Jan. 5, 8:00 am
URPE/IAFFE

Between Work and Family: Examinations of U.S. Women's Well-being (J1)

Presiding: MARY KING, Portland State University

ELAINE MCCRATE, University of Vermont--Flexibility for Whom? Control Over the Variability of Work Schedules

ELLEN MUTARI and DEBORAH M. FIGART, Richard Stockton College of New Jersey--Between "the House" and Home: Casino Workers' Schedules in a 24/7 Economy?

RANDY ALBEDA, University of Massachusetts-Boston--"My Ends Ain't Meeting": Single Mothers' Earnings and Public Work Suppports in "Post-Welfare" United States

SUSAN WILLIAMS MCELROY, University of Texas-Dallas, and WILLIAM SPRIGGS, Howard University--Testing the Safety Net: Is It Adequate for African American Women?

Discussants: MARY KING, Portland State University
ULLA GRAPARD, Colgate University


Jan. 5, 10:15 am
AAEA

Determining Food Expenditures and Measuring Poverty; the Work of Mollie
Orshansky (I3)

Presiding: PETER BASIOTIS

KENNETH HANSON, DAVID SMALLWOOD, USDA-ERS, ANDI CARLSON, U.S. Department of Agriculture, and PETER BASIOTIS--Household Food Expenditures in relation to the Thrifty Food Plan and Poverty Measurement

MICHELE VER PLOEG, USDA-ERS, and CONSTANCE F. CITRO, National Research Council--Poverty Measurement

PATRICIA RUGGLES, National Research Council--The Politics of Poverty Measurement

Discussant: CHRISTINE RANNEY, Cornell University


Jan. 5, 10:15 am
AEA

Reforming Economic Institutions of the European Union

Presiding: TIMOTHY BESLEY, London School of Economics

RICHARD BALDWIN, Graduate Institute of International Studies, Geneva--Reform of EU Economic Decision Making Arrangements

ERIK BERGLOF, European Bank for Reconstruction and Development--Reform of EU Institutional Arrangements

FRANCESCO GIAVAZZI, Bocconi University and Massachusetts Institute of Technology--Title to be announced.

Discussant: MARTIN FELDSTEIN, Harvard University


Jan. 5, 10:15 am
AEA

Better Living through Economics: IV

Presiding: JOHN SIEGFRIED, Vanderbilt University

TOM TIETENBERG, Colby College--Tradable Emissions Rights

ROBERT MOFFITT, Johns Hopkins University--The Earned Income Tax Credit

REBECCA BLANK, University of Michigan--Welfare to Work Reform

Discussants: WALLACE OATES, University of Maryland
JOSEPH HOTZ, Duke University
NANCY FOLBRE, University of Massachusetts


Jan. 5, 10:15 am
AEA

Gender Differences in Careers, Education, and Games

Presiding: ROLAND G. FRYER, JR., Harvard University

CLAUDIA GOLDIN and LAWRENCE KATZ, Harvard University--Transitions: Career and Family Life Cycles of the Educational Elite

ROLAND G. FRYER, JR., Harvard University, and STEVEN LEVITT, University of Chicago--Understanding the Gender Gap in the First 6 Years of School

STEFFEN ANDERSEN, Copenhagen Business School, ERWIN BULTE, Wageningen Unviersity, URI GNEEZY, University of California-San Diego, and JOHN A. LIST, University of Chicago--The Economics of Matrilineal Societies: Comparing Men and Women in Simple Economic Games

Discussants: FRANCINE BLAU, Cornell University
JANET CURRIE, Columbia University
CHARLES HOLT, University of Virginia


Jan. 5, 10:15 am
AEA

The Economics of Noncognitive Skills (J2)

Presiding: JAMES HECKMAN, University of Chicago

JAMES HECKMAN, PAUL LAFONTAINE, and SERGIO URZUA, University of Chicago--The Effects of Cognitive and Noncognitive Abilities on Adolescent Schooling Behavior

CATHERINE WEINBERGER, University of California--Quantifying the Growing Importance of "Soft Skills" in the Labor Market

LEX BORGHANS and BART GOLSTEYN, ROA, Maastricht University--Time Preference over the Life Cycle

ANGELA DUCKWORTH, University of Pennsylvania, CHRISTOPHER PETERSON, University of Michigan, MICHAEL MATTHEWS, and DENNIS KELLY, U.S. Military Academy--Perseverance and Passion for Long-Term Goals

Discussant: JAMES HECKMAN, University of Chicago


Jan. 5, 10:15 am
AEA

Lifecycle Investing

Presiding: JOSHUA RAUH, University of Chicago

ZVI BODIE, DORIANA RUFFINO, and JONATHAN TREUSSARD, Boston University--Life Cycle Investing: Beyond Modern Portfolio Theory to Modern Investment Technology

FRANCISCO GOMES, London Business School, LAURENCE KOTLIKOFF, Boston University, and LUIS VICEIRA, Harvard Business School--Optimal Portfolio Choice with Variable Labor Supply

JEFFREY BROWN, University of Illinois-Urbana-Champaign, JEFFREY KLING, Brookings Institution, and SENDHIL MULLAINATHAN, Harvard University--New Strategies for Promoting Annuitization

Discussants: JOSHUA RAUH, University of Chicago
JAMES POTERBA, Massachusetts Institute of Technology
P. BRETT HAMMOND, TIAA-CREF Asset Management


Jan. 5, 10:15 am
AEA

The Economics of South Africa since the End of Apartheid (O0)

Presiding: JAMES LEVINSOHN, University of Michigan

DANI RODRIK, Harvard University--Understanding South Africa's Economic Puzzles

JEFFREY FRANKEL, Harvard University, BEN SMITH, Stellenbosch University, and FEDERICO STURZENNEGER, Harvard University--South Africa: Macroeconomic Challenges after a Decade of Success

ABHIJIT BANERJEE, Massachusetts Institute of Technology, SEBASTIAN GALIANI, Washington University in St Louis, JAMES LEVINSOHN, University of Michigan, and INGRID WOOLARD, University of Cape Town--Why Has Unemployment Risen in the New South Africa

Discussants: RICARDO HAUSMAN, Harvard University


Jan. 5, 10:15 am
AEA

The Economic Impacts of the Media (I0)

Presiding: EDWARD GLAESER, Harvard University

GORDON DAHL, University of California-San Diego, and STEFANO DELLAVIGNA, University of California-Berkeley--Does Movie Violence Increase Violent Crime?

MATTHEW GENTZKOW and JESSE SHAPIRO, University of Chicago--Does Television Rot Your Brain? New Evidence from the Coleman Study

ROBERT JENSEN, Harvard University, and EMILY OSTER, University of Chicago--The Power of TV: Cable Television and Gender Attitudes in India

BENJAMIN OLKEN, Harvard University--Do Television and Radio Destroy Social Capital? Evidence from Indonesian Villages

Discussants: BRUCE SACERDOTE, Dartmouth College
EDWARD GLAESER, Harvard University
NANCY QIAN, Brown University
MATTHEW KAHN, Tufts University


Jan. 5, 10:15 am
AEA

Offshoring and the Labor Market (F2)

Presiding: POL ANTRAS, Harvard University

BILGEHAN KARABAY, Central Bank of Turkey, and JOHN MCLAREN, University of Virginia--Trade, Outsourcing, and the Invisible Handshake

CARL DAVIDSON, STEVEN MATUSZ, and ANDREI SHEVCHENKO, Michigan State University--Outsourcing Peter to Pay Paul: High Skill Expectations and Low-Skill Wages with Imperfect Labor Markets

ANDRES RODRIGUEZ-CLARE, Pennsylvania State University--Offshoring in a Ricardian World

DEVASHISH MITRA, Syracuse University, and PRIYA RANJAN, University of California-Irvine--Offshoring and Unemployment

Discussants: ARNAUD COSTINOT, University of California-San Diego
GENE GROSSMAN, Princeton University
ALAN DEARDORFF, University of Michigan
POL ANTRAS, Harvard University


Jan. 5, 10:15 am
AEA

The Micro-Level Consequences of Political Violence and Civil War (O1)

Presiding: CHRISTOPHER BLATTMAN, Yale University & Center for Global Development

EDWARD MIGUEL and JOHN BELLOWS, University of California-Berkeley--War and Local Collective Action in Sierra Leone

LAKSHMI IYER, Harvard Business School, and QUY-TOAN DO, World Bank--Income and Mental Health in Post-Conflict Bosnia

STERGIOS SKAPERDAS, University of California-Irvine, JOSE LUIS EVIA, Catholic University of Bolivia, and ROBERTO LASERNA, CERES--Socio-Political Conflict and Economic Performance in Bolivia

CHRISTOPHER BLATTMAN, Yale University & Center for Global Development--From Violence to Voting: War and Political Development in Uganda

Discussant: ADRIANA LLERAS MUNEY, Princeton University


Jan. 5, 10:15 am
AEA

Time Allocation and Household Production: Macro and Micro Approaches (J2)

Presiding: MICHELE TERTILT, Stanford University

MARK AGUIAR, University of Rochester, ERIK HURST, University of Chicago--The Allocation of a Lifetime

JONI HERSCH, Vanderbilt University Law School--Home Production, Occupation, and the Gender Pay Disparity

ROBERT A. POLLAK, Washington University--Allocating Time

GAREY RAMEY and VALERIE RAMEY, University of California-San Diego--The Rugrat Race

Discussants: ROBERT HALL, Stanford University
DANIEL HAMERMESH, University of Texas-Austin
ERIK HURST, University of Chicago
RANDALL WRIGHT, University of Pennsylvania


Jan. 5, 10:15 am
AEA

Information Use in Economic Choice: Eye Tracking Studies (D6)

Presiding: COLIN CAMERER, Caltech

MIGUEL COSTA-GOMES, University of York, and VINCE CRAWFORD, University of California-San Diego--Studying Cognition via Information Search in Two-Person Guessing Game Experiments

IAN KARJBICH, Caltech, CARRIE ARMEL, Stanford University, and ANTONIO RANGEL, Caltech--The Role of Visual Attention in Simple Economic Choice: Theory and Eye Tracking Experiments

COLIN CAMERER, JOSEPH TAO-YI WANG , Caltech and CHRISTOPHER TREPEL, University of California-Los Angeles--Studying Learning in Games Using Eye-Tracking

ROSEMARIE NAGEL, ELENA REUTSKAJA, Universitat Pompeu Fabra, ANTONIO RANGEL, and COLIN CAMERER, Caltech--Choice Overload under the Magnifying Glass of the Eye-Tracker

Discussants: SHACHAR KARIV, University of California-Berkeley
ANDREW CAPLIN, New York University


Jan. 5, 10:15 am
AEA

Consumer Payment Choice: Rational or Irrational Behavior? (D1)

Presiding: ANNETTE VISSING-JORGENSEN, Northwestern University

VICTOR STANGO and JONATHAN ZINMAN, Dartmouth College--Does Mental Accounting Actually Matter for Spending Control? Field Evidence from Payment and Portfolio Choices

SUMIT AGARWAL, Federal Reserve Bank of Chicago, SOUPHALA CHOMSISENGPHET, U.S. Office of the Comptroller of the Currency, and CHUNLIN LIU, University of Nevada, and NICHOLAS SOULELES, University of Pennsylvania--Do Consumers Choose the Right Credit Contracts?

SUMIT AGARWAL, Federal Reserve Bank of Chicago, JOHN DRISCOLL, Federal Reserve Board, XAVIER GABAIX, Massachusetts Institute of Technology, and DAVID LAIBSON, Harvard University--Stimulus and Response: The Path from Naïveté to Sophistication in the Credit Card Market

SCOTT SCHUH and JOANNA STAVINS, Federal Reserve Bank of Boston--Why Are (Some) Consumers (Finally) Writing Fewer Checks: The Role of Payment Characteristics

Discussants: JAMES CHOI, Yale University
CHRIS CARROLL, Johns Hopkins University
DEVIN POPE, University of Pennsylvania


Jan. 5, 10:15 am
AEA

Innovations and Insights from the New Immigrant Survey (J6)

Presiding: RANDALL AKEE, IZA

RICHARD FREEMAN, Harvard University and NBER--How Much Do Immigrants Gain in the Labor Market from Immigrating?

MARK ROSENZWEIG, Yale University--Higher Education and International Migration: Brain Circulation

JOSEPH ALTONJI, Yale University and NBER, and MARK ROSENZWEIG, Yale University--The Determinants of the Wages and Occupations of Immigrants in the Home Country and the U.S.

RANDALL AKEE, IZA, DAVID JAEGER, College of William and Mary, University of Bonn and IZA, KONSTANTINOS TATSIRAMOS, IZA--The Persistence of Self-Employment across Borders: New Evidence on Legal Immigrants to the U.S.

Discussants: MAGNUS LOFSTROM, Public Policy Institute of California
RACHEL FRIEDBERG, Brown University
DAVID JAEGER, College of William and Mary
MICHAEL CLEMENS, Center for Global Development


Jan. 5, 10:15 am
AEA

Emerging Market Financial Structures

Presiding: OLIVIER JEANNE, International Monetary Fund

ANTON KORINEK, Columbia University--Excessive Dollar Borrowing in Emerging Markets: Balance Sheet Effects and Macroeconomic Externalities

RAOUL MINETTI, Michigan State University, and LEO FERRARIS, Universidad Carlos III--Creditors' Skills and the Long-Run Impact of Financial Liberalization

JANA GRITTERSOVA, Cornell University--Banks and the Currency Game: The Political Economy of Exchange Rate Regime Choices in Transition Economies

Discussants: MARCOS CHAMON, International Monetary Fund


Jan. 5, 10:15 am
AEA

Institutions and Economic Growth in the Very Long Run

Presiding: JOACHIM VOTH, Universitat Pompeu Fabra

ARUSHA COORAY, University of Tasmania--Economic Growth and the Size and Quality of the Government

CHRIS STEFANADIS, University of Arizona--Appropriation, Property Rights Institutions, and Openness to International Trade

MIRIAM BRUHN, Massachusetts Institute of Technology, and FRANCISCO GALLEGO, Catholic University of Chile--Good, Bad, and Ugly Colonial Activities: Studying Development across the Americas

Discussants: JAMES ROBINSON, Harvard University
STANLEY ENGERMAN, University of Rochester


Jan. 5, 10:15 am
AEA

Pricing, Competition and Innovation in the Pharmaceutical Industry

Presiding: SARA ELLISON, Massachusetts Institute of Technology

JIE CHEN and JOHN RIZZO, State University of New York-Stony Brook--Entry Pricing and Product Quality: Evidence from the Pharmaceutical Industry

KADIR CIVAN, Fatih University, and MICHAEL MALONEY, Clemson University--Drug Prices and Drug Development

STUART GRAHAM and MATTHEW HIGGINS, Georgia Institute of Technology-- Managing the Pace of New Product Introductions in the Pharmaceutical Industry

YUTIAN CHEN and WEI TAN, State University of New York-Stony Brook--Predatory Advertising: Theory and Evidence in the Pharmaceutical Industry

Discussants: FIONA SCOTT-MORTON, Yale University
SARA ELLISON, Massachusetts Institute of Technology
ERNST BERNDT, Massachusetts Institute of Technology
IAIN COCKBURN, Boston University


Jan. 5, 10:15 am
AEA

Technology Transfers (O3)

Presiding: ANTONIO SPILIMBERGO, International Monetary Fund

DARON ACEMOGLU and AMY FINKELSTEIN, Massachusetts Institute of Technology--Input and Technology Choices in Regulated Industries: Evidence from the Health Care
Sector

CHRIS PAPAGEORGIOU and ANTONIO SPILIMBERGO, International Monetary Fund--Is Learning Abroad Necessary for Technology Adoption and Development?

DIEGO COMIN, WILLIAM EASTERLY, New York University, and ERICK GONG, University of California-Berkeley--Was the Wealth of Nations Determined in 1000 B.C.?

AAMIR HASHMI, University of Toronto and National University of Singapore--Human Capital, Institutions and Technology Adoption: A Cross-Country Analysis

Discussants: RICHARD ROGERSON, Arizona State University
JAMES FEYRER, Dartmouth College
SIMON JOHNSON, Massachusetts Institute of Technology


Jan. 5, 10:15 am
AEA

Saving and Investment Decisions: How Do Women Fare?

Presiding: OLIVIA MITCHELL, University of Pennsylvania

ANNAMARIA LUSARDI, Dartmouth College, and OLIVIA MITCHELL, University of Pennsylvania--Planning and Financial Literacy: How Do Women Fare?

JULIE AGNEW, LISA ANDERSON, JEFFREY GERLACH, and LISA SZYKMAN, College of William and Mary--Who Chooses Annuities? An Experimental Investigation of the Role of Sex, Information Bias and Financial Literacy

NAVA ASHRAF, Harvard Business School, DEAN KARLAN, Yale University, and WESLEY YIN, University of Chicago--Female Empowerment: Impact of a Commitment Savings Product in the Philippines

VICKIE BAJTELSMIT and NANCY JIANAKOPLOS, Colorado State University--Are Self-Employed Women More Financially Savvy?

Discussants: SILVIA ARDAGNA, Harvard University
PASCALINE DUPAS, Dartmouth College
OLIVIA MITCHELL, University of Pennsylvania
ENRICHETTA RAVINA, New York University


Jan. 5, 10:15 am
AEA

K-12 Economic and Financial Literacy Education

Presiding: RICHARD MACDONALD, National Council on Economic Education

PAUL W. GRIMES, MEGHAN J. MILLEA, and KATHLEEN THOMAS, Mississippi State University--District Level Mandates and High School Students' Understanding of Economics

CYNTHIA HARTER and JOHN HARTER, Eastern Kentucky University--Is Financial Literacy Improved by Participating in a Stock Market Game? Preliminary Results

HELEN ROBERTS, University of Illinois-Chicago--Measuring the Effects of the Financial Fitness for Kids Program for Early Elementary School Students in Chicago

ROGER B. BUTTERS, Nebraska Council on Economic Education, University of Nebraska-Lincoln, and TAMMIE FISCHER, University of Nebraska-Lincoln--Establishing State Specific Benchmarks in Economic Education

Discussants: JANE LOPUS, California State University-East Bay
GEORGE VREDEVELD, University of Cincinnati
JAMES O'NEILL, Delaware Council on Economic Education, University of Delaware
WILLIAM BOSSHARDT, Florida Atlantic University


Jan. 5: 10:15 am
AEA/NAEFA

Andrew Brimmer Policy Forum: Public Policy and the Reconstruction of the
Hurricane-Ravaged Gulf Coast (R1)

Presiding: ANDREW F. BRIMMER, Brimmer & Company and University of Massachusetts-Amherst

JAMES H. CARR, National Community Reinvestment Coalition--Housing Quadrangle Challenges: Planning, Demand, Supply, and Financing

BENJAMIN SPRINGGATE, University of California-Los Angeles and Tulane University, and CHARLES E. ALLEN, Tulane-Xavier Center for Bioenvironmental Research--Public Policies for Health Sector Recovery in Post-Katrina New Orleans

JOHN EDWARDS and STEFANO BARBIERI, Tulane University--Katrina, Public Goods, and the Return to New Orleans

MARCELLUS ANDREWS, Barnard College and Center for Economic and Policy Research--Weather, Risks, and Insurance: Challenges of Reconciliation in the Gulf Coast Region

ANDREW F. BRIMMER, Brimmer & Co. and University of Massachusetts-Amherst --Public Policy Strategic Planning for Reconstruction in the Gulf Coast


Jan. 5, 10:15 am
AEA/SPM

Operation and Reform of the International Monetary System (F3)

Presiding: STANLEY LAWSON, St. John's University

JAMES W. DEAN, Simon Fraser University and Western Washington University--Paradoxes of Global Finance

MORDECHAI KREININ, Michigan State University, and MICHAEL PLUMMER, Johns Hopkins University--Global Trade Imbalances: Are They Sustainable? Do They Pose a Threat to Global Stability

DOMINICK SALVATORE, Fordham University--The International Monetary System: Past, Present and Future

DOUGLAS WALKER, Regent University--Steps Toward Fundamental Reforms of the International Monetary System

Discussants: SARA GORDON, St. John's University
PELLEGRINO MANFRA, City University of New York


Jan. 5, 10:15 am
AFA

Household Finance

Presiding: MARKUS BRUNNERMEIER, Princeton University

LAURENT E. CALVET, HEC Paris, JOHN Y. CAMPBELL, Harvard University, and PAOLO SODINI, Stockholm School of Economics--Fight or Flight? Portfolio Rebalancing by Individual Investors

MARKKU KAUSTIA and SAMULI KNÜPFER, Helsinki School of Economics--Do Investors Learn from Personal Experience? Evidence from IPO Subscriptions

JUHANI LINNAINMAA, University of Chicago--Learning from Experience: Individual Investors and Parameter Uncertainty About the Profitability of High-Frequency Trading

Discussants: STEFAN NAGEL, Stanford University
MOTOHIRO YOGO, University of Pennsylvania
TOBIAS ADRIAN, Federal Reserve Banks


Jan. 5, 10:15 am
AFA

Stock Returns and the Economy

Presiding: RAVI JAGANNATHAN, Northwestern University

ROBERT F. ENGLE, New York University, ERIC GHYSELS, and BUMJEAN SOHN, University of North Carolina-Chapel Hill--On the Economic Sources of Stock Market Volatility

TIM BOLLERSLEV, Duke University, and HAO ZHOU, Federal Reserve Board--Expected Stock Returns and Variance Risk Premia

SAM JAMES HENKEL, Indiana University-Bloomington, J. SPENCER MARTIN, Carnegie Mellon University, and FEDERICO NARDARI, Arizona State University--On the Emergence and Submergence of Stock Return Predictability

ELROY DIMSON, PAUL MARSH, and MIKE STAUNTON, London Business School--The Worldwide Equity Premium: A Smaller Puzzle

Discussants: CHRISTOPHER JONES, University of Southern California
RAVI BANSAL, Duke University
ROSSEN VALKANOV, University of California-San Diego
STEPHEN BROWN, New York University


Jan. 5, 10:15 am
AFA

CEO Pay: Design, Incentives and Outcomes

Presiding: STEVEN KAPLAN, University of Chicago

MICHAEL W. FAULKENDER, Washington University-St. Louis, and JUN YANG, Indiana University Bloomington--Inside the Black Box: The Role and Composition of Compensation Peer Groups

J. CARR BETTIS, Arizona State University, JOHN M. BIZJAK, Portland State University, JEFFREY L. COLES, Arizona State University, and SWAMINATHAN L. KALPATHY, Washington State University--Equity Grants with Performance-Based Vesting Conditions

ANTONIO FALATO, Government of the United States of America--Superstars or Superlemons? Top Executive Pay and Corporate Acquisitions

Discussants: AUGUSTIN LANDIER, New York University
DAVID YERMACK, New York University
BENGT HOLMSTRÖM, Massachusetts Institute of Technology


Jan. 5, 10:15 am
AFA

Politics and Firms

Presiding: MARIANNE BERTRAND, University of Chicago

MARA FACCIO, Purdue University, and DAVID C. PARSLEY, Vanderbilt University--Sudden Deaths: Taking Stock of Geographic Ties

ALEXANDER W. BUTLER, University of Texas-Dallas, LARRY FAUVER, University of Miami, and SANDRA MORTAL, University of Missouri-Columbia--Corruption, Political Connections, and Municipal Finance

STIJN CLAESSENS, International Monetary Fund, ERIK H.B. FEIJEN, and LUC A. LAEVEN, World Bank--Political Connections and Preferential Access to Finance: The Role of Campaign Contributions

Discussants: RAYMOND FISMAN, Columbia University
ATIF MIAN, University of Chicago
DAVID THESMAR, HEC Paris


Jan. 5, 10:15 am
AFA

IPOs

Presiding: FRANCESCA CORNELLI, London Business School

WENDY YUNCHUN HU and JAY R. RITTER, University of Florida--Multiple Bookrunners in IPOs

UGUR CELIKYURT, MERIH SEVILIR, and ANIL SHIVDASANI, University of North Carolina-Chapel Hill--Going Public to Acquire: The Acquisition Motive for IPOs

RONALD W. MASULIS, Vanderbilt University, C.N.V. KRISHNAN, and AJAI K. SINGH, Case Western Reserve University--Does Venture Capital Reputation Matter? Evidence from Subsequent IPO Issuer Performance

AMIT BUBNA, Indian School of Business, and NAGPURNANAND R. PRABHALA, University of Maryland--When Bookbuilding Meets IPOs

Discussants: GERARD HOBERG, University of Maryland
HENRI SERVAES, London Business School
LAURA LINDSEY, Arizona State University
DAVID GOLDREICH, University of Toronto


Jan. 5, 10:15 am
AREUEA

Topics in Housing Economics (R3)

Presiding: AMY S. BOGDON, Federal Housing Finance Board

CHARLES KA YUI LEUNG and PATRICK CHEUNG, City University of Hong Kong--Do Relationships Change After a Crisis? The Case of a Housing Market

DONALD R. HAURIN, Ohio State University, and DAVID M. BRASINGTON, Louisiana State University--Parents, Peers, or School Inputs: Which Components of School Outcomes Are Capitalized into House Value?

GEOFFREY K. TURNBULL, Georgia State University, and VELMA ZAHIROVIC-HERBERT, University of Georgia--Public School Reform in Baton Rouge: What Signals Quality to Homebuyers?

LYNN M. FISHER, Massachusetts Institute of Technology--The Selection of Developer Permit Applications for Litigation: Asymmetric Information and Entitlements

Discussants: BO ZHAO, Federal Reserve Bank of Boston
AMY ELLEN SCHWARTZ, New York University
RICHARD MARTIN, University of Georgia
JENNY SCHUETZ, New York University


Jan. 5, 10:15 am
AREUEA

Homeownership (R2)

Presiding: SUSAN M. WACHTER, University of Pennsylvania

EDWARD COULSON, Pennsylvania State University, and MAURICE DALTON, Tufts University--Ethnic Homeownership Gaps: The Role of Age and Time

TODD SINAI, University of Pennsylvania--Homeownership as a Way to Hedge Mobility Risk

ABDUL MUNASIB, Oklahoma State University, and JEFFREY JACOB, Bethel University--Tenure Choice Implications of Social Networks

SHANE M. SHERLUND and BRIAN K. BUCKS, Federal Reserve Board--Trends in Homeownership

Discussants: SUSAN M. WACHTER, University of Pennsylvania
JAN BRUECKNER, University of California-Irvine
DENISE DIPASQUALE, Cityresearch
RAPHAEL BOSTIC, University of Southern California


Jan. 5, 10:15 am
AREUEA

Real Estate Price Indexes (R3)

Presiding: HENRY J. MUNNEKE, University of Georgia

PAUL CARRILLO, George Washington University, DIRK W. EARLY, Southwestern University, and EDGAR OLSEN, University of Virginia--A New Geographical Housing Price Index for All Areas in the United States

R. KELLEY PACE, Louisiana State University, and JAMES P. LESAGE, Texas State University-San Marcos--Interpreting Spatial Econometric Models

MICHIO NAOI, MIKI SEKO, Keio University, and KAZUTO SUMITA, Kanazawa Seiryo University--Regional Life Quality Differences in Japan: Analysis of Housing and Labor Markets with Earthquake Risks

LIANG PENG, University of Colorado-Boulder--Repeat Sales Regression on Heterogeneous Properties

Discussants: RICHARD GREEN, George Washington University
HAIBO HUANG, Property & Portfolio Research, Inc.
GEOFFREY K. TURNBULL, Georgia State University
JOHN CLAPP, University of Connecticut


Jan. 5, 10:15 am
ACES

Price Levels and Inflation in Developed and Emerging Market Economies (E3)

Presiding: JAEWOO LEE, International Monetary Fund

VAHAGN GALSTYAN and PHILIP LANE, Trinity College, University of Dublin--International Trade and International Relative Prices

MICHAEL EHRMANN, European Central Bank--Rational Inattention, Inflation Developments and Perceptions After the Euro Cash Changeover

IIKKA KORHONEN and AARON MEHROTRA, Bank of Finland--Money Demand in Post-Crisis Russia: De-dollarisation and Re-monetisation

BALAZS EGERT, OECD--Real Convergence, Price Level Convergence and Inflation Differentials in Europe

Discussants: BALAZS EGERT, OECD
MICHAEL EHRMANN, European Central Bank
IIKKA KORHONEN, Bank of Finland
PHILIP LANE, Trinity College, University of Dublin


Jan. 5, 10:15 am
AFEE

Financial Institutions, Poverty, and Income Distribution (D3)

Presiding: PHILIP ARESTIS, University of Cambridge

WILLIAM MILBERG, New School for Social Research--Finance and Income Distribution in Global Production Networks

PHILIP ARESTIS, University of Cambridge, and ASENA CANER, TOBB-Economics and Technology University, Turkey--Capital Account Liberalization and Poverty

AJIT SINGH, University of Cambridge--Stock Markets and Income Distribution

HOWARD STEIN, University of Michigan--Financial Liberalization, Institutional Transformation and Credit Allocation in Developing Countries

GARY DYMSKI, University of California-Sacramento--Sub-Prime Lending, Private-Equity Funds, and Wealth Ratchet Effects: Financial Crises at Micro, Macro, and Global Scales

Discussant: DEAN BAKER, Center for Economic and Policy Research


Jan. 5, 10:15 am
ASE

Economic Rights, Poverty, and Inequality (I3)

Presiding: LANSE MINKLER, University of Connecticut

LANSE MINKLER, University of Connecticut--Some Economics of Economic Rights

LOUIS DE MESNARD, University of Burgundy--Poverty Reduction: The Paradox of the Endogenous Poverty Line

SOURUSHE ZANDVAKILI, University of Cincinnati--Advances in Measurement of Inequality and Role of Statistical Inference

OGUZHAN C. DINCER, Illinois State University, and BURAK GUNALP, Hacettepe University--Corruption, Inequality, and Poverty in the United States

Discussant: WILFRED DOLFSMA, University of Groningen


Jan. 5, 10:15 am
ASGE/IAFFE

Aging, Disability, and Long-Term Care Policy (I1)

Presiding: THEODORE TSUKAHARA, JR., Saint Mary's College of California

R. TAMARA KONETZKA, ELMER ABBO, and ROBERT ELLIS, University of Chicago--Nursing Home Litigation and Quality of Care

LILIANA E. PEZZIN, Medical College of Wisconsin, JUDITH KASPER, Johns Hopkins University, and J. BRADFORD RICE, Boston University--A Dynamic Model of Policy and Health Effects on Living Arrangement Transitions of Elderly Persons

ALBERTO HOLLY, THOMAS M. LUFKIN, University of Lausanne, EDWARD C. NORTON, University of North Carolina-Chapel Hill, and COURTNEY HAROLD VAN HOUTVEN, Duke University--Informal Care and Medical Care Utilization in Europe and the United States

Discussants: FRANCES WEAVER, Pennsylvania State University and Swiss Health Observatory
LOIS SHAW, Levy Economic Institute
BARBARA SCHONE, Agency for Healthcare Research and Quality, U.S. Department of Health and Human Services, and Georgetown University


Jan. 5, 10:15 am
ASCE

The Cuban Economy

Presiding: CARLOS SEIGLIE, Rutgers University-Newark

ROGER BETANCOURT, University of Maryland-College Park--Human Rights and Economic Growth: Implications for a Cuban Transition

RODOLFO GONZALEZ, California State University-San Jose, and LUIS LOCAY, University of Miami--The Impact of the Revolution on Cuba's Health and Education Indices

NICOLAS SANCHEZ, College of the Holy Cross--Cuban Transitions and U.S. Interests: When Would the Benefits Converge?

Discussants: JOHN DEVEREUX, Queens College
ARTHUR DIAMOND, University of Nebraska-Omaha


Jan. 5, 10:15 am
AERE

Resource Management, Uncertainty, and Institutions (Q2)

Presiding: WOLFRAM SCHLENKER, Columbia University

NICHOLAS BROZOVIC, University of Illinois-Urbana-Champaign, and WOLFRAM SCHLENKER, Columbia University--Resilience, Uncertainty, and the Role of Economics in Ecosystem Management

JUNJIE ZHANG and MARTIN SMITH, Duke University--Bias Correction in an Empirical Fishery Model: A Two-Stage Approach

SHUBHAYU SAHA, ERIN SILLS, North Carolina State University, SUBHRENDU PATTANAYAK, Research Triangle Institute, and JILL CAVIGLIA-HARRIS, Salisbury University--Impact of Social Capital on Natural Capital: Farmer Associations, Social Interaction and Land Use Choices in the Amazon Frontier

GREGMAR GALINATO, Washington State University--Endogenous Property Rights Regimes, Common Pool Resources and Trade

Discussants: STEVE NEWBOLD, U.S. Environmental Protection Agency
KURT SCHNIER, University of Rhode Island
MAUREEN CROPPER, University of Maryland
MICHAEL MARGOLIS, Universidad de Guanajuato


Jan. 5, 10:15 am
ES

Paired Invited Session: Market Design (D4)

Presiding: JEROEN SWINKELS, Washington University

PAUL MILGROM, Stanford University--Frontiers of Market Design: Auctions

ALVIN E. ROTH, Harvard University--Frontiers of Market Design: Matching

Discussant: SUSAN ATHEY, Harvard University


Jan. 5, 10:15 am
ES

Paired Invited Session: Subsampling Methods in Econometrics (C0)

Presiding: SERENA NG, University of Michigan

JOSEPH ROMANO, Stanford University--Subsampling Methodology

DONALD ANDREWS, Yale Universit--Subsampling Methods in Econometrics

Discussant: JOEL HOROWITZ, Northwestern University


Jan. 5, 10:15 am
HERO

Private Health Insurance Markets

Presiding: LEEMORE S. DAFNY, Northwestern University

LEEMORE S. DAFNY, Northwestern University--Are Health Insurance Markets Competitive? A Test of Direct Price Discrimination

PHILIP F. COOPER, Agency for Healthcare Research and Quality, KOSALI ILAYPERUMA SIMON, Cornell University, and GINGER Z. JIN, University of Maryland--Impact of State Regulations on Self-Insurance of Health Benefits, 1997-2004

JAY BHATTACHARYA, Stanford University, and WILLIAM B. VOGT, Carnegie Mellon University--Employment and Adverse Selection in Health Insurance

Discussants: AMITABH CHANDRA, Harvard University
MICHAEL CHERNEW, Harvard University
MARTIN GAYNOR, Carnegie Mellon University


Jan. 5, 10:15 am
HES/AFEE

Thorstein Veblen at 150: Rethinking a Survivor (B1)

Presiding: ANNE MAYHEW, University of Tennessee

MATTHEW WILSON, University of Denver--Veblen on Veblen: Social Critic, Evolutionary Scientist, or Both?

ROBERT PRASCH, Middlebury College--Thorstein Veblen's Theory of Consumption

ERIC HAKE, Eastern Illinois University--Thorstein Veblen's Theory of Business Enterprise, Business Cycles, and Industrial Organization

Discussants: MALCOLM RUTHERFORD, University of Victoria
JANET KNOEDLER, Bucknell University


Jan. 5, 10:15 am
IOS

Organization and Performance (L2)

Presiding: CHRISTOPHER SNYDER, Dartmouth College

SILKE JANUSZEWSKI FORBES, University of California San Diego, and MARA LEDERMAN, University of Toronto--The Performance Implications of Vertical Integration: Evidence from Regional Airlines

RENATA KOSOVA, Cornell University, FRANCINE LAFONTAINE, University of Michigan, and ROZENN PERRIGOT, Université de Rennes I--Organizational Form and Performance: Evidence from the Hotel Industry

ALI HORTACSU and CHAD SYVERSON, University of Chicago--Vertical Integration and Production: Some Plant-Level Evidence

Discussants: LUIS GARICANO, University of Chicago
JULIE HOLLAND MORTIMER, Harvard University
CHRISTOPHER SNYDER, Dartmouth College


Jan. 5, 10:15 am
KAEA

Corporate Finance and Banking Issues of Korea (G3)

Presiding: KEE-HONG BAE, Queen's University

JUNG YONG CHOI, DONG WOOK LEE, and KYUNG-SUH PARK, Korea University --Corporate Governance and Firm Value: Endogeneity-Free Evidence from Korea

JUN-KOO KANG, Michigan State University, INMOO LEE, National University of Singapore and HYUN-SEUNG NA, University of California-Riverside--Economic Shock, Owner-Manager Incentives, and Corporate Restructuring: Evidence from the Financial Crisis in Korea

JOO HA NAM, Sogang University, and KY-HYANG YUHN, Florida Atlantic University--Determinants of Investment by Large Business Groups: A Test of the Hoshi-Kashap-Scharfstein Proposition for the Korean Chaebol

WOOK SOHN, KDI School of Public Policy and Management--Banking Relationships and Conflicts of Interest: Evidence from the Korean Bank Reform

Discussants: HOJE JO, Santa Clara University
HEITOR ALMEIDA, University of Illinois-Urbana-Champaign
JONGMOO JAY CHOI, Temple University
SHANE JOHNSON, Texas A&M University


Jan. 5, 10:15 am
LERA

Union Organizing and Changing Employment Relations in Globalizing China

Presiding: SAROSH KURUVILLA, Cornell University

MINGWEI LIU, Cornell University--Grassroots Union Organizing in China: A Strategic Perspective

SUNGHOON KIM, Cornell University--An Investigation of Grassroots Trade Union Approaches of Foreign-Owned Firms in China

XIANGMIN LIU, Cornell University, and FANG XU, Renmin University of China--Temporary Workers in Permanent Jobs: A Study of Non-Standard Work Arrangements among Call Centers in China

RICHARD LOCKE and FEI QIN, Massachusetts Institute of Technology--What Leads to Improvements in Working Conditions in Global Supply Chains: A Study of Chinese Apparel and Footwear Factories

Discussants: BILL TAYLOR, City University of Hong Kong


Jan. 5, 10:15 am
LERA

Labor and Community Floor Raising: Revitalizing the American Dream from Below

Presiding: ROBERT BRUNO, University of Illinois-Urbana-Champaign

NIK THEODORE, University of Illinois-Chicago--Working Your Way Up from the Bottom: Day Labor and Workplace Violations

ANTHONY GRIFFIN and MAURICE KING, International Brotherhood of Electrical Workers, Local 134--How "Jump-Start" Brought Middle-Class Possibilities to the Urban Poor

VIRGINIA PARKS, University of Chicago, and DORIAN WARREN, Columbia University --Community Development and the Campaign to Humanize the "Big Box"

Discussant: KIM BOBO, National Interfaith Committee for Worker Justice
JANICE FINE, Rutgers University


Jan. 5, 10:15 am
LERA

First Amendment Issues and Free Speech in the Workplace

Presiding: WILLIAM CANAK, Middle Tennessee State University

JED MARCUS, Esq., Bressler, Amery & Ross, P.C.

JON ROSEN, Esq., Rosen Law Firm

BRUCE BARRY, Vanderbilt University

Discussants: ROBERT COVINGTON, Vanderbilt University


Jan. 5, 10:15 am
NABE

Recent and Prospective Developments in Monetary Policy Transparency and
Communications: A Global Perspective

Presiding: KEVIN L. KLIESEN, Federal Reserve Bank of St. Louis

KAZUMASA IWATA, Bank of Japan

DONALD L. KOHN, Federal Reserve Board

LUCAS D. PAPADEMOS, European Central Bank

Discussants: MICHAEL WOODFORD, Columbia University


Jan. 5, 10:15 am
NAFE

Forensic Economics III--Hedonic Damages -- One More Time (Panel Discussion) (K4)

Presiding: PETER MARKS, Rhode Island College

BRIAN MCDONALD, Economic Consultant--Loss of Enjoyment of Life Damages in New Mexico

TED MILLER, Pacific Institute for Research and Evaluation--Hedonic Damages: Were the Crippling Blows Well-Founded?

W. KIP VISCUSI, Vanderbilt Law School--Why Lives Have Different Values

JOHN O. WARD, University of Missouri-Kansas City--Time Use Valuation as an Alternative to Lost Enjoyment of Life Measures in Calculating Wrongful Death Damages


Jan. 5, 10:15 am
NEA

Political Economy of Recovery from Katrina: Comparative Perspectives (D6)

Presiding: WILLIAM SPRIGGS, Howard University

RODNEY GREEN, Howard University, and BEVERLY WRIGHT, Dillard University--The Political Economy of Non-Government versus Government Recovery Intervention in New Orleans in the Wake of Katrina

CHARLES BETSEY, Howard University and MARGARET C. SIMMS, Joint Center for Political and Economic Studies--People and Jobs: Employment Prospects for New Orleans Residents in the Aftermath of Hurricane Katrina

HEIDI HARTMANN and AVIS JONES-DEWEEVER, Institute for Women's Policy Research--In the Eye of the Storm: Examining the Effects of Hurricane Katrina on the Women of New Orleans and the Gulf Coast

HAYDAR KURBAN, GAMINIE MEEPAGALA, and MARY KAY PERKINS, Howard University--Using Recovery Patterns from Hurricane Andrew as a Benchmark for Post-Katrina Reconstruction in New Orleans

Discussants: LANCE FREEMAN, Columbia University
CECILIA CONRAD, Pomona College
JOSEPH PERSKY, University of Illinois-Chicago
GREG PRICE, Jackson State University


Jan. 5, 10:15 am
SED

U.S. Asset Trade with the Rest of the World

Presiding: MONIKA PIAZZESI, University of Chicago

ALESSANDRA FOGLI and FABRIZIO PERRI, University of Minnesota--External Imbalances and Macroeconomic Volatility

ENRIQUE MENDOZA, University of Maryland, VICTOR RIOS-RULL, University of Minnesota, VINCENZO QUADRINI, University of Southern California--Financial Integration, Financial Deepness and Global Imbalances

LEE OHANIAN, University of California-Los Angeles, and MARK WRIGHT, Federal Reserve Bank of Minneapolis--The Efficiency and Mobility of International Capital Flows: 1950-2006

MONIKA PIAZZESI, University of Chicago, and MARTIN SCHNEIDER, New York University--Bond Supply, Expectations and the Yield Curve


Jan. 5, 10:15 am
SGE

Semiconductors

Presiding: SAMUEL KORTUM, University of Chicago

RALPH SIEBERT, Purdue University--How Licensing Resolves Hold-up: Evidence from a Dynamic Panel Data Model with Unobserved

KENNETH FLAMM, University of Texas--The Microeconomics of Microprocessor Innovation

UNNIKRISHNAN SADASIVAN PILLAI, University of Chicago--Drivers of Technological Innovation in Computation

BRETT GORDON, Carnegie Mellon University--A Dynamic Model of Consumer Replacement Cycles in the PC Processor Industry

Discussants: DANIEL SICHEL, Federal Reserve Board
PAUL THOMAS, Intel
ANA AIZCORBE, U.S. Bureau of Economic Analysis
CAROL ROBBINS, U.S. Bureau of Economic Analysis


Jan. 5, 10:15 am
TPUG

Issues in Surface Transportation

Presiding: CLETUS C. COUGHLIN, Federal Reserve Bank of St. Louis

JEFFREY P. COHEN, University of Hartford, and KRISTEN MONACO, California State University-Long Beach--Inter-County Spillovers and Ports and Roads Infrastructure Investment

RICHARD ARNOTT, Boston College--The Corridor Problem

RICHARD FOWLES, University of Utah, PETER LOEB, Rutgers University, and WILLIAM CLARKE, Bentley College--The Determinants of Motor Vehicle Fatalities Using Specification Testing and Bayesian Stochastic Search Variable Selection Methods

WAYNE K. TALLEY, Old Dominion University, DI JIN, and HAUKE KITE-POWELL, Woods Hole Oceanographic Institute--Determinants of the Damage Cost and Injury Severity of Ferry Vessel Accidents

Discussants: JASON BARR, Rutgers University
IAN SUE WING, Boston University
MARTIN DRESNER, University of Maryland
WILLIAM CLARKE, Bentley College


Jan. 5, 10:15 am
URPE

Alternative Approaches to the Economics of the Elderly (J14)

Presiding: AJIT ZACHARIAS, Levy Economics Institute of Bard College

TERESA GHILARDUCCI, University of Notre Dame--Guaranteed Retirement Accounts: Towards Retirement Income Security

SUNHWA LEE, Institute for Women's Policy Research--Race/Ethnicity, Living Arrangements, and Retirement Security Among Older Women

CHRISTIAN WELLER, Center for American Progress--Navigating the Perfect Storm: How Have Public Sector Pension Plans Handled the Funding Crisis?

EDWARD N. WOLFF, Levy Economics Institute of Bard College and New York University and AJIT ZACHARIAS, Levy Economics Institute of Bard College--How Well-Off are America's Elderly? A New Perspective

MICHELLE NAPLES, College of New Jersey, GERALD JOGERST, and JEANETTE DALY, University of Iowa--Elder Abuse: Economic and Feminist Factors

Discussants: AJIT ZACHARIAS, Levy Economics Institute of Bard College
THOMAS MASTERSON, Levy Economics Institute of Bard College


Jan. 5, 10:15 am
URPE

Topics in Heterodox Economics (B2)

Presiding: JAMES DEVINE, Loyola Marymount University

FREDERIC LEE, University of Missouri-Kansas City--The Emergence of Heterodox Economics in a Contested Landscape, 1990-2006

MICHAEL PERELMAN, California State University-Chico--The Confiscation of American Prosperity: From Right Wing Extremism and Economic Ideology to the Next Great Depression

ELLEN RUSSELL, Canadian Centre for Policy Alternatives--Domestic Financial Reform and Bargaining Power: The New Deal Financial Architecture

IAN MCGREGOR, University of Technology-Sydney--Warming as Usual -- Radical International Political Economy Required to Address Climate Change

DANIEL SAROS, Valparaiso University--An Application of Social Structure of Accumulation Theory to American Industry During the Progressive Era

Discussants: DAVID KOTZ, University of Massachusetts-Amherst
GIL SKILLMAN, Wesleyan University


Jan. 5, 12:30 pm
AEA

Luncheon Honoring the 2006 Nobel Laureate, Edmund Phelps

Presiding: AVINASH DIXIT, Princeton University

JAMES HECKMAN, University of Chicago
JOSEPH STIGLITZ, Columbia University


Jan. 5, 12:30 pm
AEA/Journal of the European Economic Association

Lecture

Presiding: XAVIER VIVES, IESE Business School and Pompeu Fabra University

ALBERTO ALESINA, Harvard University-- Culture, the Family and Taxation


Jan. 5, 12:30 pm
AREUEA

Presidential Luncheon

Presiding: FRANK NOTHAFT, Freddie Mac

RICHARD K. GREEN, George Washington University


Jan. 5, 12:30 pm
ACES

The Future of Comparative Economics: Old, New, or Something Else (Roundtable) (P5)

Presiding: BARKLEY ROSSER, James Madison University

AVNER GREIF, Stanford University
SIMON JOHNSON, Massachusetts Institute of Technology and International Monetary Fund
FREDERIC PRYOR, Swarthmore College
YINGYI QIAN, University of California-Berkeley
GERARD ROLAND, University of California-Berkeley
MARINA ROSSER, James Madison University


Jan. 5, 12:30 pm
AFEE

Evaluating a Newly-Edited Old-Economics Contribution: John Fagg Foster on Value and Science (B3)

Presiding: WOLFRAM ELSNER, University of Bremen

WILLIAM WALLER, Hobart and William Smith Colleges--The Unreasonable Society: Foster and the Limits of Instrumental Valuation

OLIVIER BRETTE, University Jean Moulin Lyon 3--On Science and Value: John Fagg Foster, reader of Veblen

JAMES STURGEON, University of Missouri-Kansas City--Institutionalist theory of Change and Valuation: the Principles of Institutional Adjustment of J. Fagg Foster

BALDWIN RANSON, retired--Confronting Foster's Wildest Claim: Only the Instrumental Theory of Value Can Be Applied!

Discussant: GLADYS FOSTER, retired


Jan. 5, 12:30 pm
ASGE/IAFFE

Resource Allocation Within the Household (D1)

Presiding: ELEANOR BROWN, Pomona College

CECILIA CONRAD, Pomona College and Scripps College, and RAJIV SETHI, Barnard College--Rethinking Economic Models of Domestic Violence

JENNIFER WARD-BATTS, Claremont McKenna College--Can Home Production or Marital Bargaining Explain the Post-Retirement Consumption Puzzle? Evidence from U.K Expenditure Data

CRISTINA ECHEVARRIA, University of Saskatchewan--Taxing the Homemaker

Discussants: MELISSA GONZALEZ-BRENES, University of Massachusetts-Amherst
MICHAEL KUEHLWEIN, Pomona College
FRANCES WOOLLEY, Carleton University


Jan. 5, 12:30 pm
AIES

Social and Political Aspects of Economic Behavior (B4, B5)

Presiding: TEJ K. KAUL, Western Illinois University

SURESH DESAI, Montclair State University--Innovation in Gandhian Economics

VAMAN RAO, Western Illinois University--Changing Configuration of Economic Players on the World Economy

SANDWIP K. DAS, University of California-Riverside--Transparency in Government Procurement

RAMJHIM AGGARWAL, Arizona State University--Technological Lock-ins, Poverty and Environmental Degradation

AMIT BATABYAL, Rochester Institute of Technology, and HAMID BELADI, University of Texas--Bribery and Favoritism in Queuing Models of Rationed Resource Allocation

NIMAI MEHTA, George Mason University--Inequality as a Norm and in Fact: The Use and Abuse of Indian History from Mill to Sen

ROBY RAJAN, University of Wisconsin--Differential Linkages in Global Outsourcing

Discussants: SAURAV BATABYAL, University of Wisconsin-Milwaukee
KUSUM KETKAR, Vanderbilt University
CHANDANA CHAKRABORTY, Montclair State University
SUHAS L. KETKAR, Vanderbilt University


Jan. 5, 12:30 pm
CEANA

Asian Economic and Financial Integration: A Growth Map for the Future (F1)

Presiding: PING WANG, Washington University-St. Louis

WING THYE WOO, Brookings Institution--Asian Economic Integration: Why and What Form?

YIN-WONG CHEUNG and XING WANG QIAN, University of California-Santa Cruz--Hoarding of International Reserves: Mrs. Machlup's Wardrobe and the Joneses

KAR-YIU WONG, University of Washington--Free Trade Areas and International Rivalry

CHUNG-HUA SHEN, National Chengchi University, and YEA-MOW CHEN, San Francisco State University--Mergers and Acquisitions of Financial Institutions and Asian Financial Market Integration

Discussant: JUANN H. HUNG, Congressional Budget Office
CHI-WA YUEN, University of Hong Kong
CHONG K. YIP, Chinese University of Hong Kong
JACKY YUK-CHOW SO, Texas A&M International University


Jan. 5, 12:30 pm
CS

The Economics of Empire, Slavery, and Segregation

Presiding: WILLIAM COLLINS, Vanderbilt University

LEAH PLATT BOUSTAN, University of California-Los Angeles, and ROBERT MARGO, Boston University--Going Postal: What Black Employment in the Postal Service Reveals About the Increasing Cost of Residential Segregation, 1940-2000

FELIPE TÅMEGA FERNANDES, London School of Economics--The U.S. and British Struggle for Rubber: A Quantitative Approach, 1870-1910

JONATHAN PRITCHETT and KEVIN LANDER, Tulane University--When to Care: The Economic Rationale of Slavery Health Care Provisions

Discussants: WILLIAM COLLINS, Vanderbilt University
GAVIN WRIGHT, Stanford University
JENNY WAHL, Carleton College


Jan. 5, 12:30 pm
HERO

Contributed Papers in Health Economics: Health Plans, Health Insurance,
and Obesity

Presiding: J. MICHAEL FITZMAURICE, Agency for Healthcare Research and Quality

ANTHONY T. LO SASSO, LORENS HELMCHEN, University of Illinois-Chicago, and WILLARD G. MANNING, University of Chicago--The Effects of CDHP on Utilization and Cost of care

DIDEM BERNARD, JESSICA BANTHIN, and WILLIAM ENCINOSA, Agency for Healthcare Research and Quality--Wealth, Assets, and the Affordability of Health Insurance

OLGA YAKUSHEVA, Marquette University--On the Relationship between Income and Body Fat: Thin Bodies and Thin Wallets

Discussants: KATHERINE BAICKER, University of California-Los Angeles
AL DOBSON, Dobson, Davanso and Associates
JEANNE WENDEL, University of Nevada-Reno


Jan. 5, 12:30 pm
IAFFE

Feminist Perspectives on Macroeconomics & Development (O1)

Presiding: YANA RODGERS, Rutgers University

ALISON BUTLER, Willamette University--How Aggregated Do We Need to Be: Race, Gender, Class and Distribution in a Macroeconomics Classroom

ELISSA BRAUNSTEIN Colorado State University, and GAMZE YASAR, Colorado State University--Gender, Economic Development and Islam: A Cross Country Study

ANNE MIKKOLA, University of Helsinki, and CARRIE A. MILES, George Mason University and Baylor University--Development and Gender Equality: Consequences, Causes, Challenges and Cures

Discussants: JEAN SHACKELFORD, Bucknell University
JENNIFER OLMSTED, Drew University


Jan. 5, 12:30 pm
ITFA

Globalization and Trade Policy (F0)

Presiding: JOHN T. EVANS, Long Island University

MILES MATTSON and DRUSILLA BROWN, Tufts University--Access to Essential Medicine: The Impact of TRIPS

JOSEPH PELZMAN, George Washington University, and AMIR SHOHAN, Ben Gurion Unviersity of the Negev--U.S. Bilateral Regional Agreements: The Negative Welfare Effects of Multiplicity in Country of Origin Rules

DON P. CLARK, University of Tennessee--Vertical Specialization with Developed and Developing Countries

NANCY H. CHAU, Cornell University, and ROLF FARE, Oregon State University--On Trade Impairment Nullification, Trade Sanctions and the Shadow Price of Imports: A Trade Benefit Function Approach

Discussants: ARNAB K. BASU, College of William and Mary
KATHLEEN REES, Texas A&M University-Kingsville
WENDY TAKACS, University of Maryland-Baltimore County
JUDITH DEAN, U.S. International Trade Commission


Jan. 5, 12:30 pm
LERA

Presidential Luncheon and Address

Presiding: ANTHONY T. OLIVER, Parker, Milliken, Clark, O'Hara and Samuelian

EILEEN B. HOFFMAN, Federal Mediation & Conciliation Service


Jan. 5, 12:30 pm
MEEA

Youth Employment Issues in the MENA Region (J4)

Presiding: TARIK YOUSEF, Dubai School of Government and Brookings Institution

RAGUI ASSAAD and GHADA BARSOU, Population Council Regional Office for West Asia and North Africa--Youth Exclusion in Egypt: Trends and Policies

DJAVAD SALEHI-ISFAHANI, Virginia Polytechnic University, and DANIEL EGEL, University of California-Berkeley--Demographic Shocks and Youth Transitions in Iran: Trends, Policies, and Challenges

NADER KABBANI, Syria Trust for Development, and NOURA KAMEL, American University of Beirut--Social-Economic Exclusion and Youth Employment Outcomes in Syria

BRAHIM BOUDARBAT, Université de Montréal--Youth Employment in Morocco

Discussants: KENNETH WILSON, Zayed University
JEHAD YASIN, Fort Valley State University
ALPAY FILIZTEKIN, Sabanci University
JAY SQUALLI, Zayed University


Jan. 5, 12:30 pm
NEA

Opportunities and Obstacles to Southern African Development (O1)

Presiding: ROMIE TRIBBLE, JR., Spelman College

ROMIE TRIBBLE, JR., Spelman College--The Openness Hypothesis and the South African Economy

GLENWOOD ROSS, Morehouse College--Foreign Direct Investment to Post Apartheid South Africa: Determinants, Trends and Prospects

RADHA BHATTACHARYA, California State University-Fullerton--Empirical Analysis of Economic Growth in South Africa: From Apartheid to AIDS

MARIONNETTE HOLMES, Spelman College--The Cost Effectiveness of HAART on HIV and AIDS in Botswana

MONA RAY, Morehouse College--The Crowding-Out Effect of HIV-AIDS on BEE in South Africa

Discussants: JULIET ELU, Spelman College
ELIZABETH ASIEDU, University of Kansas
MESFIN BEZUNAH, Clark-Atlanta University
ALVIN HEADEN, North Carolina State University
AMATA DIABATE, Spelman College


Jan. 5, 12:30 pm
SGE

Measuring Income and Taxation

Presiding: ROSEMARY MARCUS, U.S. Bureau of Economic Analysis

ROBERT BROWN, U.S. Bureau of Economic Analysis--The Feasibility of Producing Personal Income to Adjusted Gross Income (PI-AGI) Reconciliations by State

MARK LEDBETTER, U.S. Bureau of Economic Analysis--An Analytical Framework to Understanding Conceptional Differences between the BEA Measure of Personal Income and the IRS Measure of Adjusted Gross Income

JOHN PELOQUIN and THOMAS F. STINSON, Minnesota Department of Finance--Pointing with a Blunt Stick: Selected Topics in Forecasting Minnesota Income Tax Revenues

PHIL KING, Canadian Department of Finance--Methodology of Forecasting Canadian Personal Income Tax Revenues with Microsimulation Models and National Account Estimates

Discussants: KIM BLOOMQUIST, Internal Revenue Service
BROOKS ROBINSON, Institute for Triple Helix Innovation
RALPH RECTOR, Heritage Foundation
JOEL PLATT, U.S. Bureau of Economic Analysis


Jan. 5, 2:30 pm
AFEA

Institutions, Structure, and African Development (O5)

Presiding: EMMANUAL NNADOZIE, UN Economic Commission for Africa (UNECA), Addis Ababa

JEAN-LOUIS ARCAND, Universite d'Auvergne, and MARCEL FAFCHAMPS, Oxford University--Matching in Rural Producer Organizations

JOHANNES FEDDERKE and ALEXANDRA WOLLNIK, University of Cape Town--The Spatial Distribution of Manufacturing in South Africa 1970-1996 and Its Determinants

O.E. INONI, and D.G. OMOTOR, Delta State University, Nigeria--The Effects of Road and Market Infrastructure on Agricultural Output and Income of Rural Households in Delta State, Nigeria

MWANGI WA GITHINJI, University of Massachusetts-Amherst--The Political Economy of Ethnicity in Africa: Rewarding Supporters with Jobs in Kenya

UNA OKONKWO OSILI, Indiana University-Purdue University--Diasporas and Development: Evidence from Africa Migration

Discussants: JOHN AGYEI KARIKARI, U.S. Government Accountability Office
KWABENA GYIMAH-BREMPONG, University of South Florida
RUTH OWAIFO OYELERE, Georgia Institute of Technology
SYLVAIN BOKO, Wake Forest University
SHER VERICK, UNECA, Addis Ababa


Jan. 5, 2:30 pm
AEA

U.S. Fiscal Institutions: Reforming Tax Expenditures

Presiding: JAMES POTERBA, Massachusetts Institute of Technology

LEN BURMAN and ERIC TODER, Urban Institute--The Growth, Distribution, and Opportunity Cost of Individual Income Tax Expenditures

JAMES POTERBA, Massachusetts Institute of Technology, and TODD SINAI, University of Pennsylvania--Tax Expenditures for Owner-Occupied Housing

GILBERT METCALF, Tufts University--Rethinking Federal Tax Expenditures for Energy

Discussants: ALAN AUERBACH, University of California-Berkeley
EDWARD GLAESER, Harvard University
HILARY SIGMAN, Rutgers University


Jan. 5, 2:30 pm
AEA

Better Living through Economics: V

Presiding: JOHN SIEGFRIED, Vanderbilt University

JAMES C. MILLER III, George Mason University, JOHN T. WARNER, Clemson University, and BETH ASCH, Rand Corporation--The Volunteer Military

LAWRENCE WHITE, New York University--The Role of Economics in Antitrust Analysis

DAVID LAIBSON, Harvard University, JOHN BESHEARS, JAMES CHOI, Yale University, and BRIGITTE MADRIAN, Harvard University--Saving for Retirement

Discussants: WALTER OI, University of Rochester
KENNETH ELZINGA, University of Virginia
ROBERT SHILLER, Yale University


Jan. 5, 2:30 pm
AEA

Sources of International Price Stickiness

Presiding: CHARLES ENGEL, University of Wisconsin-Madison

PINELOPI K. GOLDBERG, Princeton University, and REBECCA HELLERSTEIN, Federal Reserve Bank of New York--A Microeconomic Approach to Explaining Exchange-Rate Pass-Through

EMI NAKAMURA, Harvard University--Pass-Through in Retail and Wholesale

ARIEL BURSTEIN and CHRISTIAN HELLWIG, University of California-Los Angeles--Inferring Pricing Complementarities from Micro Data

Discussants: CHARLES ENGEL, University of Wisconsin-Madison
AVI NEVO, Northwestern University


Jan. 5, 2:30 pm
AEA

Economics of the Minimum Wage (J2)

Presiding: DANIEL AARONSON, Federal Reserve Bank of Chicago

PETER ARCIDIACONO, TOM AHN, Duke University, and WALTER WESSELS, North Carolina State University--The Distributional Impacts of Minimum Wage Increases When Both Labor Supply and Labor Demand are Endogenous

ALAN MANNING and RICHARD DICKENS, London School of Economics--The Minimum Wage and UK Wage Inequality

DAVID NEUMARK, University of California-Irvine, and WILLIAM WASCHER, Federal Reserve Board--Minimum Wages, the Earned Income Tax Credit, and Employment

DANIEL AARONSON, ERIC FRENCH, Federal Reserve Bank of Chicago, and TED TO --The Employment Response to Minimum Wage Hikes: Evidence from Geocoded ES202 Data

Discussants: CHRISTOPHER FLINN, New York University
HILARY HOYNES, University of California-Davis
DAVID LEE, Princeton University
WILLIAM WASCHER, Federal Reserve Board


Jan. 5, 2:30 pm
AEA

The Impact of Hurricanes on Residents and Local Labor Markets (J6)

Presiding: JAMES SULLIVAN, University of Notre Dame

CHRISTINA PAXSON and CECILIA ROUSE, Princeton University--Adversity and Resilience: The Impact of Hurricane Katrina on a Group of Low-Income Parents

JEFFREY GROEN and ANNE POLIVKA, U.S. Bureau of Labor Statistics--The Effect of Hurricance Katrina on the Labor Market Outcomes of Evacuees

ARIEL BELASEN and SOLOMON POLACHEK, State University of New York-Binghamton--How Disasters Affect Local Labor Markets: The Effects of Hurricanes in Florida

MOLLY FIFER MCINTOSH, Princeton University--Measuring the Labor Market Impacts of Hurricane Katrina Migration: Evidence from Houston, Texas

Discussants: SHELDON DANZIGER, University of Michigan
ADRIANA KUGLER, University of Houston
JAMIE KRUSE, East Carolina University
ETHAN LEWIS, Dartmouth College


Jan. 5, 2:30 pm
AEA

Growth, Productivity, and Wages in the U.S. Economy (Roundtable) (E6)

Presiding: DOMINICK SALVATORE, Fordham University

WILLIAM BAUMOL, Princeton University and New York University--Impediments to Entrepreneurial Contributions to U.S. Productivity

MARTIN FELDSTEIN, Harvard University--Did Wages Reflect Gains in Productivity?

GLENN HUBBARD, Columbia University--The Productivity Riddle and "Management"

DALE JORGENSON, Harvard University--Labor Supply and Demand in the Long Run

JOHN TAYLOR, Stanford University--U.S. Growth, Productivity and Wages during the Long Boom


Jan. 5, 2:30 pm
AEA

The Economics of Paid Sex Markets (J4)

Presiding: ALAN KRUEGER, Princeton University

STEVE LEVITT, University of Chicago, and SUDHIR VENKATESH, Columbia University--An Empirical Analysis of Street Prostitutes

MANISHA SHAH, University of Melbourne, and PAUL GERTLER, University of California-Berkeley and NBER--Enforcing Licensing Requirements: Implications for Disease Transmission in the Sex Market

TAGGERT BROOKS, University of Wisconsin-La Crosse--In Da Club: An Econometric Analysis of Strip Club Patrons

LENA EDLUND, Columbia University, and EVELYN KORN, Philipps-Universit at Marburg--From Sex to Gender

Discussants: LENA EDLUND, Columbia University
EMILY OSTER, University of Chicago
SCOTT DREWIANKA, University of Wisconsin-Milwaukee
TED BERGSTROM, University of California-Santa Barbara


Jan. 5, 2:30 pm
AEA

The Empirics of Corruption (D7)

Presiding: ANDREI SHLEIFER, Harvard University

ABHIJIT BANERJEE, Massachusetts Institute of Technology, and ROHINI PANDE, Harvard University--Parochial Politics: Ethnic Preferences and Politician Corruption

RAY FISMAN, Columbia University, and EDWARD MIGUEL, University of California-Berkeley--Cultures of Corruption: Evidence from Diplomatic Parking Tickets

BENJAMIN OLKEN, Harvard University, and PATRICK BARRON, World Bank--The Simple Economics of Extortion: Evidence from Trucking in Aceh

Discussants: TIMOTHY BESLEY, London School of Economics
PAOLA SAPIENZA, Northwestern University
ANDREI SHLEIFER, Harvard University


Jan. 5, 2:30 pm
AEA

Economics and Social Identity (Z1)

Presiding: CATHERINE ECKEL, University of Texas-Dallas

JONAH BERGER, CHIP HEATH, Stanford University, and BENJAMIN HO, Cornell University--Identity Signaling: Explaining Conformity and Abandonment

YAN CHEN, University of Michigan-Ann Arbor, and SHERRY XIN LI, University of Texas-Dallas--Group Identity and Social Preferences

JASON FLETCHER, Yale University--Health Behaviors and Identity Formation: The Case of Smoking

KARLA HOFF and PRIYANKA PANDEY, World Bank--Does Social Hierarchy Affect Social Preferences? Simple Tests in Village India

Discussants: ROLAND BENABOU, Princeton University
RACHEL KRANTON, University of Maryland
RACHEL CROSON, University of Pennsylvania
GEORGE AKERLOF, University of California-Berkeley


Jan. 5, 2:30 pm
AEA

Monetary Policy Transparency and Communication (E5)

Presiding: ALAN BLINDER, Princeton University

ATHANASIOS ORPHANIDES, Central Bank of Cyprus, PAR OSTERHOLM, Uppsala University, and SPENCER DALE, Federal Reserve Board--Imperfect Central Bank Communication: A Double-Edged Sword?

KEN KUTTNER, Oberlin College, and ADAM POSEN, Peterson Institute of International Economics--Do Central Bank Mandates Matter?

CARL WALSH, University of California-Santa Cruz--The Role of Transparency as a Mechanism for Accountability

MICHAEL EHRMANN, European Central Bank, HELGE BERGER, Free University Berlin, and MARCEL FRATZSCHER, European Central Bank--Geography or Skills: What Explains Fed Watchers' Forecast Accuracy of U.S. Monetary Policy?

Discussants: JOHN WILLIAMS, Federal Reserve Bank of San Francisco
PIERRE SIKLOS, Wilfrid Laurier University
PETRA GEERAATS, Cambridge University
ALAN BLINDER, Princeton University


Jan. 5, 2:30 pm
AEA

Economic Behavior: Evidence from Sports (D0)

Presiding: RICHARD THALER, University of Chicago

V. BHASKAR, University College London--Rational Adversaries? Evidence from Randomized Trials in the Game of Cricket

FRANC KLAASSEN, Tinbergen Institute and University of Amsterdam, and JAN MAGNUS, Tilburg University--Are Economic Agents Successful Optimizers? An Analysis Through Service Strategy in Tennis

JOSEPH PRICE, Cornell University, and JUSTIN WOLFERS, University of Pennsylvania--Racial Discrimination among NBA Referees

CHRISTOPHER ADAMS, Federal Trade Commission--Estimating The Value of "Going For It" (When No One Does)

Discussants: GEORGE-LEVI GAYLE, Carnegie Mellon University
GEORGE DELTAS, University of Illinois
DANIELE PASERMAN, Hebrew University
SHANE FREDERICK, Massachusetts Institute of Technology


Jan. 5, 2:30 pm
AEA

Prosperity and Depression: the 1920s and 1930s (N1)

Presiding: SHARON HARRISON, Barnard College, Columbia University

SHARON HARRISON, Barnard College, Columbia University, and MARK WEDER, University of Adelaide--Did Sunspost Forces Cause the Roaring Twenties?

MONIQUE EBELL and ALBRECHT RITSCHL, Humboldt-University of Berlin--Real Origins of the Great Depression: Monopoly Power, Unions and the American Business Cycle in the 1920s

LEE OHANIAN, University of California-Los Angeles--The Contribution of Cartelization Policies to the Start of the Great Depression

BOYAN JOVANOVIC, New York University, and PETER ROUSSEAU, Vanderbilt University--IPO's of the 1920's

Discussants: JANG-TING GUO, University of California-Riverside
MONIKA MERZ, University of Bonn
MICHAEL BORDO, Rutgers University
CAROLA SCHENONE, University of Virginia


Jan. 5, 2:30 pm
AEA

Historical Evolution of Financial Institutions (F0, N0)

Presiding: SEBNEM KALEMLI-OZCAN, University of Houston and NBER

SEBNEM KALEMLI-OZCAN, University of Houston and NBER--Financial Integration, Institutions, and Growth: Historical Evidence from the Ottoman Empire

KEVIN O'ROURKE, Trinity College, AHMED S. RAHMAN, United States Naval Academy, and ALAN TAYLOR, University of California-Davis--Trade, Knowledge and the Industrial Revolution

MURAT IYIGUN, University of Colorado--Ottomans and the Rise of Atlantic Trade

MICHAEL BORDO, Rutgers University and NBER, and PETER ROUSSEAU, Vanderbilt University and NBER--Legal-Political Factors and the Historical Evolution of the Finance-Growth Link

Discussants: DIEGO COMIN, Harvard University AND nber
RODRIGO SOARES, University of Maryland
SIMON JOHNSON, Massachusetts Institute of Technology


Jan. 5, 2:30 pm
AEA

Political Economy

Presiding: STEVEN CALLANDER, Northwestern University

MATILDE BOMBARDINI, University of British Columbia, and FRANCESCO TREBBI, University of Chicago--Votes or Money? Theory and Evidence from the U.S. Congress

DARON ACEMOGLU, Massachusetts Institute of Technology, GEORGY EGOROV, Harvard University, and KONSTANTIN SONIN, New Economic School--Coalition Formation in Nondemocracies

DAN KOVENOCK, Purdue University, and BRIAN ROBERSON, Miami University--Is the 50-State Strategy Optimal?

ALIA GIZATULINA, University of Mannheim--Symmetric Third-Party Governance

Discussant: ERNESTO DAL BO, University of California-Berkeley


Jan. 5, 2:30 pm
AEA

Security Issuance

Presiding: JAY RITTER, University of Florida

XI LI, Acadian Asset Management, and RONALD MASULIS, Vanderbilt University--Do Venture Investments by Financial Institutions Affect the IPO Underwriting Process?

MARK KAMSTRA, York University, DEBARSHI NANDY, York University, and PEI SHAO, University of Northern British Columbia--Do Financing Expectations Affect Announcement and Long-Run Stock Performance?

AMAR GANDE, Southern Methodist University, and ANTHONY SAUNDERS, New York University--Are Banks Still Special When There is a Secondary Market for Loans?

ELIF SISLI CIAMARRA, New York University--Monitoring by Affiliated Bankers on Board of Directors: Evidence from Corporate Financing Outcomes

Discussants: REBECCA ZARUTSKIE, Duke University and Massachusetts Institute of Technology
XI LI, Acadian Asset Management
BILL WILHELM, University of Virginia
AILSA ROELL, Columbia University


Jan. 5, 2:30 pm
AEA

Empirical Studies of Pricing

Presiding: ALAN SORENSEN, Stanford University

DAISUKE KATANO and FUMIKO TAKEDA, University of Tokyo--An Empirical Study of Price Dispersion in the Japanese "Digital Holy Durables" Markets

DANIEL DE MUNNIK, Bank of Canada, and KUAN XU, Dalhousie University--Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms

ARUN SUNDARARAJAN and GAL OESTREICHER-SINGER, New York University--Are Digital Rights Valuable? Theory and Evidence from eBook Pricing

RAPHAEL AUER, Swiss National Bank, and THOMAS CHANEY, University of Chicago--Quality Pricing and Endogenous Entry: A Model of Exchange Rate Pass Through

Discussants: ALAN SORENSEN, Stanford University
LINDA GOLDBERG, Federal Reserve Bank of New York
GITA GOPINATH, Harvard University


Jan. 5, 2:30 pm
AEA

Consumer Bankruptcy and Credit Scoring: Recent Contributions (E4)

Presiding: MICHELE TERTILT, Stanford University

LIRAN EINAV, JON LEVIN, Stanford University, and WILLIAM ADAMS, Citigroup--Liquidity Constraints and Imperfect Information in Subprime Lending

BORGHAN NARAJABAD, University of Texas-Austin--Information Technology and the Rise of Household Bankruptcy

JIM MACGEE, IGOR LIVSHITS, University of Western Ontario, and MICHELE TERTILT, Stanford University--Costly Contracts and Consumer Lending

PAIGE SKIBA, Vanderbilt University, and JEREMY TOBACMAN, University of Oxford--The Profitability of Payday Lending


Jan. 5, 2:30 pm
AEA

Reconciliation of Seemingly Inconsistent Data Series

Presiding: DAVID JOHNSON, U.S. Census Bureau

KATHARINE G. ABRAHAM, University of Maryland, JOHN C. HALTIWANGER, University of Maryland and U.S. Census Bureau, and KRISTIN SANDUSKY, U.S. Census Bureau, and JAMES SPLETZER, U.S. Bureau of Labor Statistics--Household vs. Establishment Measures of Employment: Problems in Measuring Self-employment and Job Changing, and the Role of Multiple Jobs

GEORGE L. PERRY, Brookings Institution--Alternative Measures of Compensation and Wages: Conceptual Issues and Implications for Policy Makers

LAURENCE H. MEYER, Macroeconomic Advisers--The CPI vs. the PCE Price Index: The Recent BEA-BLS Reconciliation--Some Lessons for the Federal Reserve and Other Policy Makers

Discussants: BRUCE D. MEYER, University of Chicago
LAWRENCE F. KATZ, Harvard University
STEPHEN G. CECCHETTI, Brandeis University


Jan. 5, 2:30 pm
AEA

Poster Session on Teaching Ideas and Projects

Coordinator: WENDY A. STOCK, Montana State University

G. DIRK MATEER, Pennsylvania State University--Teaching with You Tube: An Economist's Guide to Free Web-Based Content

MINE E. CINAR, Loyola University Chicago--Teaching Intermediate Microeconomics as a Financial Writing Intensive Class

PRÓDROMOS-IOÁNNIS PRODROMÍDIS, Centre of Planning and Economic Research (KEPE), Greece--A Case of Teaching by Blending Lectures with Dialogue, Site-Visits, Games, Research, and Peer Reviews

CHARLES P. ROCK, Rollins College--Reforming the Liberal Arts Economics Major for Students at Rollins College: 1999-2008

K.K. FUNG, University of Memphis--Livingeconomics--Customizing Microeconomics Principles Textbook using OpusI and Flashecon

JOSHUA C. HALL, West Virginia University, ROBERT A. LAWSON, Capital University, and G. DIRK MATEER, Pennsylvania State University--From ABBA to Zeppelin, Led: A Web Resource for Teaching Economics through Music

NANCY BROOKS, University of Vermont--Using Problem-Based Service-Learning to Teach Local Economic Development

JAMES BRUEHLER and LINDA GHENT, Eastern Illinois University--A Funny Thing Happened in My Economics Course

OSMAN GULSEVEN, North Carolina State University--Learning Economics with Games

HOLLY FRETWELL, Montana State University, NOREEN LEPHARDT, Marquette University, and ROBERT REINKE, South Dakota Council on Economic Education, University of South Dakota--Economics and the Environment

REBECCA SUMMARY, Southeast Missouri State University--Enhancing Communication in Distance Learning Courses

LAURA SHINN, Temple University--Show Me the Money! An Object Lesson in Which Students Actively Learning Money Supply Changes

MARILYN COTTRELL, Brock University, Canada--A Complementary Technique for Reinforcing Basic Microeconomic Principles by Utilizing Animated Vignettes

JOHNNIE B. LINN III, Concord University--Student Assessment of an Economics Teaching Card Deck

CATHERINE LAWSON and LARRY LAWSON, Missouri Western State University--Designs on Learning: Using Lessons from Video Games to Teach and Learn Economics

TOM CREAHAN, Morehead State University--New Insights from In-Class Experiments: Using Excel to Post and Analyze Results on the Spot

STEVEN C. MYERS, University of Akron--Problem Based Learning in an Applied Econometric Curriculum

JAY CORRIGAN, Kenyon College--The Pollution Game: A Classroom Demonstration

GWENDOLYN C. MORRISON, Indiana University-Purdue University-Indianapolis, GENE BEYT, Tulane University, THOMAS INUI, Regenstrief Institute and Indiana University-Purdue University-Indianapolis, and DEBRA LITZELMAN, Indiana University-Purdue University-Indianapolis--Teaching Health Policy and Economics in a Medical School Using Team-Based Learning

CARSTEN LANGE, California State Polytechnic University--Integrating Active Learning in an Online Class for Principles in Microeconomics

LYNN HUNNICUTT and KAREN TRAVIS, Pacific Lutheran University--Interactive Learning in the Capstone Course

JOHN R. CROOKER, University of Central Missouri--Interactive Web-Tools in Principles of Macroeconomics: Recent Experiences with Macromedia Breeze, Online Homeworks, and iTunes Podcasts

JOHN KANE, State University of New York-Oswego--A Mastery Learning Approach in Introductory Microeconomics Courses

ZHIFANG PENG and DILARA TAS, Southern Illinois University-Carbondale--A Classroom Experiment on Production Possibilities Frontier

YELENA F. TAKHTAMANOVA, Federal Reserve Bank of San Francisco--FRBSF University Symposium Program

MIKE ALLGRUNN, DAVID CARR, University of South Dakota, and ROBERT REINKE, South Dakota Council on Economic Education, University of South Dakota--Teaching Resource Allocation: Markets, Lotteries, and Arbitrage

BARB BLOEMHF, McMaster University, Canada--Essay Assignments that Delivery Critical Thinking


Jan. 5, 2:30 pm
AEA/ACAES

Asian Economy and Asian Money

Presiding: ROBERT MUNDELL, Columbia University

MASAHIRO KAWAI, Tokyo University and Asian Development Bank--The Asian Money

MICHAEL PLUMMER, Johns Hopkins University--Market-Driven Regionalism in Asia: Integration, Competitiveness and the Quest for Best Practices

M. DUTTA, Rutgers University--Optimum Currency Areas: U.S. Dollar, Euro and Asian Money

Discussants: MARDY DUNGEY, Cambridge University, UK
JANG HEE YOO, Ewha University, Korea and Korea Economic Research Institute
MICHAEL PLUMMER, Johns Hopkins University
GIOVANNI CAPANNELLI, Asian Development Bank


Jan. 5, 2:30 pm
AEA/AREUEA

Household Finance: Mortgage Choice, Persuasion, and Life Cycle Housing (G1)

Presiding: JOHN CAMPBELL, Harvard University

SUMIT AGARWAL, Federal Reserve Bank of Chicago, and BRENT AMBROSE, Pennsylvania State University--To Arm, or Not to Arm: Evidence of the Effect of Persuasion on Financial Decisions

OTTO VAN HEMERT, New York University--Life-Cycle Housing and Portfolio Choice with Bond Markets

ALLIE SCHWARTZ, Harvard University--Who Takes Out Adjustable Rate Mortgages?

Discussants: HENRIK CRONQVIST, Ohio State University
NICHOLAS SOULELES, University of Pennsylvania
RICHARD ROSEN, Federal Reserve Bank of Chicago


Jan. 5, 2:30 pm
AFA

Executive Compensation

Presiding: DIRK JENTER, Stanford University

CAROLA FRYDMAN, Massachusetts Institute of Technology, and RAVEN E. SAKS, Government of the United States of America--Executive Compensation: A New View from a Long-Term Perspective, 1936-2005

STEVEN N. KAPLAN and JOSHUA D. RAUH, University of Chicago--Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

SANDEEP DAHIYA, Georgetown University, and DAVID YERMACK, New York University--You Can't Take It with You: Sunset Provisions for Equity Compensation when Managers Retire, Resign, or Die

Discussants: LAURA STARKS, University of Texas-Austin
ANTOINETTE SCHOAR, Massachusetts Institute of Technology
YANIV GRINSTEIN, Cornell University

Jan. 5, 2:30 pm
AFA

Understanding Investor Preferences

Presiding: CHRISTOPHER POLK, London School of Economics & Political Science

HARRISON G. HONG, Princeton University, and MARCIN T. KACPERCZYK, University of British Columbia--The Price of Sin: The Effects of Social Norms on Markets

ULRIKE MALMENDIER, University of California-Berkeley, and STEFAN NAGEL, Stanford University--Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?

BRIAN J. HENDERSON, Seton Hall University, and NEIL D. PEARSON, University of Illinois-Urbana-Champaign--Patterns in the Payoffs of Structured Equity Derivatives

Discussants: ANTTI PETAJISTO, Yale School of Management
RANDOLPH COHEN, Harvard Business School
JOSHUA COVAL, Harvard Business School


Jan. 5, 2:30 pm
AFA

Predictability in the Stock, Bond, and Options Markets

Presiding: ROSSEN VALKANOV, University of California-San Diego

PETER F. CHRISTOFFERSEN, KRIS JACOBS, and GREGORY VAINBERG, McGill University--Forward-Looking Betas

LOUIS H. EDERINGTON, University of Oklahoma, and WEI GUAN, University of South Florida-St. Petersburg--Volatility Forecasts for Option Valuation

JESSICA A. WACHTER, University of Pennsylvania, and MISSAKA WARUSAWITHARANA, Federal Reserve Board--What is the Chance that the Equity Premium Varies Over Time? Evidence from Predictive Regressions

GEORGE E. TAUCHEN, Duke University, and HAO ZHOU, Federal Reserve Board--Realized Jumps on Financial Markets and Predicting Credit Spreads

Discussants: SHINGO GOTO, Barclays
GEORGE JIANG, University of Arizona
STIJN VAN NIEUWERBURGH, New York University
JING-ZHI JAY HUANG, Pennsylvania State University


Jan. 5, 2:30 pm
AFA

Information and Trade

Presiding: CHRISTINE PARLOUR, University of California-Berkeley

PAOLO COLLA, Università Bocconi and ANTONIO MELE, London School of Economics & Political Science--Information Linkages and Correlated Trading

NEVZAT EREN, University of Minnesota-Twin Cities, and HAN N. OZSOYLEV, University of Oxford--Hype and Dump Manipulation

ALEX BOULATOV and THOMAS J. GEORGE, University of Houston--Securities Trading when Liquidity Providers are Informed

Discussants: JOHAN WALDEN, University of California-Berkeley
BILGE YILMAZ, University of Pennsylvania
IOANID ROSU, University of Chicago


Jan. 5, 2:30 pm
AFA

Trends in Empirical Capital Structure

Presiding: MURILLO CAMPELLO, University of Illinois at Urbana-Champaign

MICHAEL R. ROBERTS, University of Pennsylvania, and AMIR SUFI, University of Chicago--Control Rights and Capital Structure: An Empirical Investigation

ALEXANDER KURSHEV, London Business School, and ILYA A. STREBULAEV, Stanford University--Firm Size and Capital Structure

MICHAEL W. FAULKENDER, Washington University-St. Louis, and JASON M SMITH, University of Kentucky--Are Adjustment Costs Impeding Realization of Target Capital Structure?

SREEDHAR T. BHARATH, PAOLO PASQUARIELLO, University of Michigan-Ann Arbor, and GUOJUN WU, University of Houston--Does Asymmetric Information Drive Capital Structure Decisions?

Discussants: VIRAL ACHARYA, London Business School
DIRK HACKBARTH, Washington University-St. Louis
MARK LEARY, Duke University
MURRAY FRANK, University of Minnesota-Twin Cities


Jan. 5, 2:30 pm
AREUEA

REITS & Investment (L8)

Presiding: J. SA-AADU, University of Iowa

KENNETH D. ROSKELLEY, University of Arizona, MICHAEL J. HIGHFIELD, and DENNIS F. STEELE, Mississippi State University--Can Secondary Market Investors Profit from REIT IPOs?

ERASMO GIAMBONA, University of Amsterdam--Compounding Biases in the CRSP/Ziman Real Estate Database: Implications for Performance Measurement

RICHARD CHUNG, Hong Kong Polytechnic University, JAMES D. SHILLING, DePaul University, SCOTT FUNG, and TAMMIE X. SIMMONS-MOSLEY, California State University-East Bay--The Role of Institutional Investors in Real Estate: Theory and Empirical Evidence

TOBIAS MÜHLHOFER, Indiana University--They Would If They Could: Assessing the Bindingness of the Property Holding Constraints for REITs

KATHY HUNG, California State University-East Bay, ZHAN ONAYEV, State Street Global Advisors, and CHARLES TU, University of San Diego--Time-Varying Diversification Effect of Real Estate in Institutional Portfolios: When Alternative Assets Are Considered

Discussants: SEOW-ENG ONG, National University of Singapore
JAY HARTZELL, University of Texas-Austin
NURAY GUNER, Middle East Technical University
WALTER BOUDRY, University of North Carolina-Chapel Hill
CROCKER LIU, Arizona State University


Jan. 5, 2:30 pm
AREUEA

Housing Affordability (R2)

Presiding: MARSHA J. COURCHANE, CRA International

PIET EICHHOLTZ and THIES LINDENTHAL, Maastricht University--Demographic Change and the Demand for Housing: British Evidence

JEFFREY ZABEL, Tufts University, and HENRY POLLAKOWSKI, Massachusetts Institute of Technology--Regional Housing Affordability

BRENT C. SMITH, Virginia Commonwealth University--The Influence of Affordability on Construction Quality: Developer Response to Externalities in the Market

PAUL S. WILLEN and KRISTOPHER GERARDI, Federal Reserve Bank of Boston, and HARVEY S. ROSEN, Princeton University--Unaffordable or Too Expensive: A New Approach to Housing Affordability

Discussants: CHRISTIAN REDFEARN, University of Southern California
PETER ZORN, Freddie Mac
CHRISTOPHER CUNNINGHAM, Federal Reserve Bank of Atlanta
ANDREA HEUSON, University of Miami


Jan. 5, 2:30 pm
ACES

Comparative Empirical Studies of Labor-Managed and Conventional Firm Creation (L2)

Presiding: AVNER BEN-NER, University of Minnesota

JAN M. PODIVINSKY and GEOFF STEWART, University of Southampton, UK--On the Choice Between Capitalist and Labor-Managed Firm Production: Evidence From a Panel of Entrants into UK Manufacturing

SAIOA ARANDO LASGABASTER, Deusto University, Spain--Entry and Exit of Worker Cooperatives and Conventional Firms in the Spanish Basque Country

PANU KALMI, Helsinki School of Economics, Finland--Catching a Wave: Co-operative Entrepreneurship in Finnish Regions

VIRGINIE PEROTIN, Leeds University Business School, UK--The Compared Determinants of Labor-Managed and Conventional Firm Creation: An Empirical Study on Industry-Level French Data

Discussants: KAUSIK CHAUDHURI, Leeds University, UK
MARK KLINEDINST, University of Southern Mississippi


Jan. 5, 2:30 pm
AFEE

Methodological and Theoretical Foundations of Institutional Economics (B5)

Presiding: ULRICH WITT, Max Plank Institute of Economics and University of Jena

KLAUS NIELSEN, Roskilde University and Birkbeck College, University of London--Original and New Institutional Economics--A Stylized Comparison of Core Propositions

WILFRED DOLFSMA, University of Groningen, and ANTOON SPITHOVEN, University of Utrecht--What Does the Phenomenon of "Silent Trade" Tell Us About the Supposed Continuum between OIE and NIE?

WOLFRAM ELSNER, University of Bremen--A Process and Some Logic of "Meso": On Emergence and the Why and How of "Meso-Economics"

CARSTEN HERRMANN-PILLATH, Witten/Hedecke University, Clarence Ayres Visiting Scholar--Deducing Principles of Economics from Ontological Constraints on Information

DAVID DEQUECH, University of Campinas--Institutional Logics: A First Approximation

Discussant: GEOFF HODGSON, University of Hertfordshire


Jan. 5, 2:30 pm
AFEE

Regulation, Deregulation, and Reform (L5)

Presiding: GLEN ATKINSON, University of Nevada-Reno

JANICE PETERSON, California State University-Fresno--Institutional Change and Alternative Reform Agendas: Unemployment Insurance

STEPHEN P. PASCHALL, Lovett Bookman Harmon Marks LLP--John R. Commons's Contributions to Health Care Reform in the 21st Century

BOB LOUBE, Rolka Loube Saltzer Associates--Network Neutrality and Control of the Internet

HARRY TREBING, Michigan State University--The Multidimensional Consequences of Electricity and Gas Deregulation and Their Implications for Successful Policy Reform

BURL HAAR, Minnesota Public Utilities Commission--Economic Regulation, The Lights are Still On: A View from the Inside

Discussant: ERIC R. HAKE, Eastern Illinois University


Jan. 5, 2:30 pm
ASE/AFEE

Power and Culture in the Neoliberal Regime (B5)

Presiding: WILLIAM WALLER, Hobart and William Smith Colleges

PHIL O'HARA, Curtin University, Australia--Global Inequality and Uneven Development: Recent Trends and Patterns

MICHAEL CARROLL, Bowling Green State University, and JAMES RONALD STANFIELD, Colorado State University and Bowling Green State University--Toward Sustainable Adaptive Efficiency in Thomas Friedman's Flat World

MARY WRENN, Weber State University--Identity, Identity Politics, and Neoliberalism

GEOFFREY SCHNEIDER, Bucknell University--Comparative Institutional Advantage and the Appropriate Development Model for sub-Saharan Africa

Discussant: WILLIAM WALLER, Hobart and William Smith Colleges


Jan. 5, 2:30 pm
AERE

The Stern Review of the Economics of Climate Change and Its Critics
(Roundtable Discussion) (Q5)

Presiding: ROBERT STAVINS, Harvard University

WILLIAM CLINE, Peterson Institute for International Economics
SCOTT BARRETT, Johns Hopkins University
ROBERT MENDELSOHN, Yale University
WILLIAM NORDHAUS, Yale University
MARTIN WEITZMAN, Harvard University
NICHOLAS STERN, London School of Economics and Political Science
JOHN WEYANT, Stanford University


Jan. 5, 2:30 pm
AFE

Comparative Corporate Finance (O5)

Presiding: VOJISLAV MAKSIMOVIC, University of Maryland

MARK ROE and JORDAN SIEGEL, Harvard University--Political Instability and Financial Development

MEGHANA AYYAGARI, George Washington University, ASLI DEMIRGUC-KUNT, World Bank, and VOJISLAV MAKSIMOVIC, University of Maryland--Formal versus Informal Finance: Evidence from China

FRANKLIN ALLEN, University of Pennsylvania, RAJESH CHAKRABARTI, SANKAR DE, Indian School of Business, JUN QIAN, Boston College, and MEIJUN QIAN, National University of Singapore--Comparing the Financial Systems of China and India

REENA AGGARWAL, Georgetown University, ISIL EREL, RENE STULZ, Ohio State University, and ROHAN WILLIAMS, Georgetown University--Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth


Discussants: RAGHURAM RAJAN, University of Chicago
JOSEPH FAN, Chinese University of Hong Kong
SUGATO BHATTACHARYYA, University of Michigan
STIJN CLAESSENS, International Monetary Fund


Jan. 5, 2:30 pm
AIES

Trade Related Issues, II (F2, F3, F4)

Presiding: SURESH DESAI, Montclair State University

SUHAS KETKAR, Vanderbilt University--Magnifying the Development Impact of Remittances

RAM UPENDRA DAS, Research and Information System for Developing Countries, and MEENAKSHI RISHI, Seattle University--Two-Way Linkages between Trade and Financial Liberalization

ATRAYEE GHOSH ROY, Minnesota State University, and HENDRIK VAN DEN BERG, University of Nebraska--Trade and Indian Economy

SUSHANTA MALLICK and HELENA MARQUES, University of London--Pass-Through of Exchange Rate and Tariffs into Import Prices of India

CHAITRAM TALELE, Columbia State College--Economic Analysis of Non-tariff Barriers in International Trade

SUDHANVA CHAR, Life University--India, China and the U.S. during the Next Ten Years

RENU KALLIANPUR, AXA Advisors and SAL MIEKES--Interlinkages in World Financial Markets

Discussants: SANDWIP K. DAS, University of California-Riverside
SAURAV BATABYAL, University of Wisconsin-Milwaukee
SHAILENDRA GAJANAN, University of Pittsburgh
GOVINDA KOIRALA, University of Rio Grande
PARUL JAIN, Standards and Poor


Jan. 5, 2:30 pm
CES

Institutions and Economic Development (O4)

Presiding: ZHIQIANG LIU, University at Buffalo

LI GAN, Texas A&M University and NBER, LIXIN COLIN XU, World Bank, and YANG YAO, Peking University--Health Shocks, Village Elections, and Long-term Income: Evidence from Rural China

CHERYL XIAONING LONG, Colgate University, and XIAOBO ZHANG, International Food Policy Research Institute--Organization Choice with Credit Constraint: Industrial Clusters in China

LI GAN, Texas A&M University and NBER, LIXIN COLIN XU, World Bank, and YANG YAO, Peking University--Governance, Finance, and Consumption Insurance: Evidence from Chinese Villages

HONGPING JIANG and DAVID D. LI, Tsinghua University--Optimal Investment to GDP Ratio in a Developing Economy: Is China Over-investing

Discussants: SCOTT ROZELLE, Stanford University
XIAO-YUAN DONG, University of Winnipeg
GARY JEFFERSON, Brandeis University
NAN LI, Ohio State University


Jan. 5, 2:30 pm
ES

Recent Developments in Experimental Game Theory (C9)

Presiding: JOHN KAGEL, Ohio State University

PEDRO DAL BO, Brown University, and GUILLAUME FRECHETTE, New York University--The Evolution of Cooperation in Infinitely Repeated Games: Experimental Evidence

JACOB GOEREE and LEEAT YARIV, Cal Tech--An Experimental Study of Jury Deliberation

DAVID COOPER, Florida State University, and JOHN KAGEL, Ohio State University--Are Two Heads Really Better than One? Team Play versus Advice in Signaling Games

STEFFEN ALTMANN, ARMIN FALK, and MATTHIAS WIBRAL, University of Bonn and IZA--Promotions in Multi-Stage Elimination Tournaments: an Experimental Investigation

Discussants: JOHN DUFFY, University of Pittsburgh
MASSIMO MORELLI, Ohio State University
COLIN CAMERER, California Institute of Technology
BRUCE WEINBERG, Ohio State University


Jan. 5, 2:30
ES

International Trade (F1)

Presiding: JAMES ANDERSON, Boston College

ARNAUD COSTINOT and IVANA KOMUNJER, University of California-San Diego--What Goods Do Countries Trade? New Ricardian Predictions

FRANCISCO ALCALÁ, Universidad de Murcia--Product Quality and Trade

DAVIN CHOR, Singapore Management University--Unpacking Sources of Comparative Advantage: A Quantitative Approach

JAMES E. ANDERSON, Boston College and NBER--Gravity, Productivity and the Pattern of Production and Trade

Discussants: SAMUEL KORTUM, University of Chicago
CHRISTIAN BRODA, University of Chicago


Jan. 5, 2:30 pm
ES

Treatment Effects and Policy Analysis (C2)

Presiding: ARTHUR LEWBEL, Boston College

DEBOPAM BHATTACHARYA, Dartmouth College, AMITABH CHANDRA, Harvard University, and XIAOHONG CHEN, New York University--A Nonparametric Analysis Of Optimal Healthcare Expenditure

JINYONG HAHN, University of California-Los Angeles, KEISUKE HIRANO, University of Arizona, and DEAN KARLAN, Yale University--Adaptive Design of Multiple Stage Experiments using the Propensity Score

TOBIAS KLEIN, University of Mannheim--Heterogeneous Treatment Effects: Instrumental Variables without Monotonicity?

ARTHUR LEWBEL, Boston College--Identifying the Returns to Lying When the Truth is Unobserved


Jan. 5, 2:30 pm
ES

Nonlinear Financial Time Series (C5)

Presiding: XILONG CHEN, University of North Carolina-Chapel Hill

YONGMIAO HONG, Cornell University, and YOON-JIN LEE, Indiana University--Detecting Misspecifications in Autoregressive Conditional Duration Models

PER MYKLAND, University of Chicago, and ERIC RENAULT, University of North Carolina--Causality and the Estimation of Volatility in High Frequency Data

STANISLAV ANATOLYEV, New Economic School, and NIKOLAY GOSPODINOV, Concordia University--Modeling Financial Return Dynamics by Decomposition

XILONG CHEN and ERIC GHYSELS, University of North Carolina--News - Good Or Bad - And Its Impact Over Multiple Horizons


Jan. 5, 2:30 pm
ES

Set Estimation (C1)

Presiding: VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology

ELIE TAMER, Northwestern University--New Estimation Methods in Set Identified Models

ALFRED GALICHON, Harvard University--Inference in Incomplete Models

CHRISTIAN BONTEMPS, THIERRY MAGNAC, University of Toulouse and IDEI, and ERIC MAURIN, PSE--Set Identified Linear Models

ARIE BERESTEANU, Duke University, ILYA MOLCHANOV, University of Bern, and FRANCESCA MOLINARI, Cornell University--Asymptotic Behavior of Inequality Constrained Models - With Applications to Office Supply Superstores


Jan. 5, 2:30 pm
ES

Information and Asset Prices (G1)

Presiding: WEI XIONG, Princeton University

RUI ALBUQUERQUE, Boston University, and JIANJUN MIAO, Boston University and HKST--Advance Information and Asset Prices

XAVIER GABAIX, Massachusetts Institute of Technology--A Simple, Unified, Exactly Solved Framework for Ten Puzzles in Macro-Finance

DARRELL DUFFIE, Stanford University, GASTON GIROUX (unaffiliated), and GUSTAVO MANSO, Massachusetts Institute of Technology--Information Percolation

HONG JUN YAN, Yale University, and WEI XIONG, Princeton University--Heterogeneous Expectations and Bond Markets


Jan. 5, 2:30 pm
ES

Empirical Macroeconomics (E0)

Presiding: RICARDO REIS, Princeton University

HUIYU HUANG, TAE-HWY LEE, and CANLIN LI, University of California-Riverside--Forecasting Output Growth and Inflation: How to Use Information in the Yield Curve

S. BORAGAN ARUOBA, University of Maryland, FRANCIS X. DIEBOLD, University of Pennsylvania, and CHIARA SCOTTI, Federal Reserve Board--Real-Time Measurement of Business Conditions

JINILL KIM, Federal Reserve Board, and FRANCISCO RUGE-MURCIA, University of Montreal--How Much Inflation is Necessary to Grease the Wheels?

RICARDO REIS, and MARK W. WATSON, Princeton University--Measuring Changes in the Value of the Numeraire

Discussants: JONATHAN WRIGHT, Federal Reserve Board
GIORGIO PRIMICERI, Northwestern University


Jan. 5, 2:30 pm
EHA

Session to Honor Kenneth L. Sokoloff

Presiding: STEPHEN HABER, Stanford University

ROBERT ALLEN, Oxford University -- Research on Inventive Activity and Technological Change

CLAUDIA GOLDIN, Harvard University -- Research on Early Manufacturing and Productivity

JAMES ROBINSON, Harvard University -- Research on the Sources of Economic Growth and Development

DOUGLASS NORTH, Washington University-St. Louis -- Kenneth L. Sokoloff and Cliometrics

Discussants: To be announced.


Jan. 5, 2:30 pm
EPS

The Future of the Defense Budget

Presiding: MICHAEL LIND, New America Foundation

JOSEPH STIGLITZ, Columbia University, and LINDA BILMES, Harvard University--Five Years of War: Reassessing the Economic Cost of Conflict in Iraq

BARBARA BERGMANN, American University--A Cost/Benefit Analysis of Large Military Budgets

WINSLOW WHEELER, Strauss Military Reform Project, Center for Defense Information-- Weapons Systems That Don't Work for Threats That Don't Exist

RICHARD KAUFMAN, Bethesda Research Institute--The Next Peace Dividend


Jan. 5, 2:30 pm
HES

Rawls and the Economists (B3)

Presiding: SANDRA PEART, University of Richmond

SANDRA PEART, University of Richmond, and DAVID LEVY, George Mason University--The Buchanan-Rawls Correspondence

JOHN DAVIS, Marquette University and University of Amsterdam--Rawls and Sen on Deliberative Democracy

JOE PERSKY, University of Illinois-Chicago--Rawls' Thin Defense of Property

Discussants: STEVEN DURLAUF, University of Wisconsin
DAVID COLANDER, Middlebury College


Jan. 5, 2:30 pm
IAFFE

Gender, Race, and Ethnicity in the Americas (J1)

Presiding: MARIA DE LOS ANGELES CRUMMETT, University of South Florida

BETILDE RINCON DE MUNOZ and CAROLE A. GREEN, University of South Florida--Labor Force Participation Among Women in Venezuela: Work in the Formal Versus the Informal Sector

MARY C. KING, Portland State University--Mexican Women's Work on Both Sides of the U.S. Mexican Border

MARLENE KIM, University of Massachusetts-Boston--The Intersection of Race and Gender in the Earnings of Black Women

CRUZ BUENO, University of Massachusetts-Amherst--Afro-Latinas, Neoliberalism and Export Processing Zones in the Dominican Republic

Discussants: MARY LOPEZ, Occidental College
CECILIA CONRAD, Scripps College and Pomona College


Jan. 5, 2:30 pm
LERA

Workers' Rights in the Aftermath of Natural Disasters

Presiding: CHARLIE JESZECK, U.S. Government Accountability Office

MICHAEL Z. GREEN, Texas Wesleyan School of Law--What Hurricane Katrina Should Have Taught Employers about Using Expedited ADR to Address Employment Matters in a Crisis

REVAE MORAN, U.S. Government Accountability Office--Protecting the Health and Safety of Response and Rescue Workers during the Katrina Disaster

MARIELENA HINCAPIE, National Immigration Law Center--After the Flood: The Consequences of Hurricane Katrina

RUBEN GARCIA, California Western University School of Law--New Orleans: Ground Zero of a Neoliberal Labor Policy

ART LUJAN, Building Trades Workforce Development Project--Rebuilding Our Lives, Rebuilding Our City: Issues of Wages and Workforce Development in the Reconstruction of New Orleans


Jan. 5, 2:30 pm
LERA

Supplier Relations in the Global Auto Industry: Ready to Rebuild or Still Unstable?

Presiding: ARTHUR R. SCHWARTZ, General Motors

SUSAN HELPER, Case-Western Reserve University--Can U.S. Suppliers Meet the Challenge of Globalization?

DAN LURIA, Performance Benchmarking Service, Michigan Manufacturing Technology Center--Regional Strategies for the U.S. Auto Parts Industry

NIRAJ GANATRA, United Auto Workers--Rebuilding After Bankruptcy

MARI SAKO, Oxford University (not confirmed) OR John Paul MacDuffie, University of Pennsylvania-- European and Japanese Trends in Auto Industry Supplier Relations

Discussant: LINDA EWING, United Auto Workers
SUSAN NUTSON, Tower Automotive


Jan. 5, 2:30 pm
LERA

Poster Session

Presiding: ROBERT HOELL, Georgia Southern University

DIANE-GABRIELLE TREMBLAY, CATHERINE CHEVRIER, and MARTINE DI LORETO, Télé-université--Self-Employment: A Better Reconciliation of Personal and Professional Life...Or More Crossovers in Social Times?

YONG-SEUNG PARK, Kyung Hee University and YONG-JIN NHO, Seoul National University of Technology--Unions, Informal Learning, and Economic Competitiveness

TERRY H. WAGAR, Saint Mary's University--I'm Out of Here: Factors Associated with Quit Behavior in the Canadian Trucking Industry

JOHANNA WESTSTAR, University of Toronto--Facilitating the Match between Education and Jobs: A Role for Increased Worker Control

DARLA FLINT PAULSON, University of Minnesota--How Allowing Employees Decision Making Influence Affects Customer Wellbeing: A Stakeholder Theory Perspective

HERVÉ QUENEAU--Changes in Racial and Ethnic Segregation in the Workforce

RUPA BANERJEE, University of Toronto--Post-Migration Education & the Labour Market Integration of New Immigrants in Canada

DARLA FLINT and YINGCHUN WANG, University of Minnesota--The Existence and Implications of Employee--Manager Perception Discrepancies of High Performance Work Systems

RICHARD A. OPLAND, KYOKO KATO, MICHAEL L. MOORE, and MINGZHU NIE, Michigan State University--The Role of Work Design in the Strategic Human Resource Management -- Performance Relationship: Aligning Work and People Systems for Better Firm Performance

MATTHEW M. BODAH, University of Rhode Island, DALE BELMAN, Michigan State University, and PETER PHILIPS, University of Utah--Construction Sector Project Labor Agreements: A Research Update

TING REN, University of Minnesota--Union Effect on Trust in the Workplace

JAEWONG KIM, JOHN PAUL MACDUFFIE, University of Pennsylvania, and FRITS PIL, University of Pittsburgh--Employee Voice and Organizational Performance

STEPHANE RENAUD, University of Montreal--Does Voluntary Training Impact Workers' Wages? An Empirical Investigation Based on Within-Firm Data

WEI-CHIAO HUANG, Western Michigan University--Examining the Employment Impact of Michigan's Renaissance Zone Program

JACK L. HOWARD, Illinois State University--Employee Awareness And Perceptions Surrounding Workplace Violence Policies

EDWIN W. ARNOLD, Auburn University-Montgomery, and CLYDE J. SCOTT, University of Alabama--Raid Elections Revisited

TIMOTHY J. KEAVENY, EDWARD J. INDERRIEDEN, and BONNIE S. O'NEILL, Marquette University--Factors Related to Perceptions Regarding Alternative Forms of Variable Pay

KRISTEN M. MUNDAY, University of Minnesota--What Kinds of Workers are Never-Members? An Analysis of Individuals Who Choose Never to Join Unions in the United States

DIANE FREY, London School of Economics and Political Science--Theorizing Labour Rights: An Institutional Approach to Compliance Theory: The Case of Labour Rights in Central America

RAFAEL GELY, University of Cincinnati, and TIMOTHY D. CHANDLER, Louisiana State University--The "Lumpiness" of Grievance Arbitration Decision-Making

JING WANG, University of Toronto--The Effects of Minimum Wages on Employment and Wage: Evidence from China

HELEN LAVAN, DePaul University, and MARSHA KATZ, Governors State University--Problems in Finding Solutions to the Impact of Obesity on Organizations

ADAM SETH LITWIN, Massachusetts Institute of Technology--Information Technology and Industrial Relations: Work, Workers, and the Performance Impact of an Electronic Health Records System

_ GREGOR GALL, University of Hertfordshire--Statutory Union Recognition Provisions as Stimulants to Employer Anti-Unionism in Two Anglo-Saxon Countries

JIAJIA CUI, Tilburg University--Intergenerational Risk Sharing Within Funded Pension Schemes

JEROME BARRETT, Friends of FMCS History Foundation--Sixty Years of FMCS: 1947 to 2007

ITHAK HARPAZ, University of Haifa--The Current Position of Labor Unions in Israel: Is There a Future?


Jan. 5, 2:30 pm
MEEA

Finance and Credit Markets (G1)

Presiding: HASSAN HAKIMIAN, Cass Business School

MURAT USTA, University of Alberta, and NURAY GUNER, Middle East Technical University -- The Role of Foreign Investors in an Emerging Stock Market

RIZA DEMIRER, Southern Illinois University-Edwardsville, and ALI M. KUTAN, Southern Illinois University-Edwardsville, William Davidson Institute, University of Michigan, and Cass Business School, London--Do Investors Herd in MENA Stock Markets?

M. KABIR HASSAN and JUNG-SUK YU, University of New Orleans--Rational Speculative Bubbles: An Empirical Investigation of the Middle East and North African (MENA) Stock Markets

ADEL BOUGHRARA, University of Sousse--The Importance of the Bank Lending Channel in Tunisia

MOHAMED CHAFFAI, University of Sfax, and MICHEL DIETSCH, University of Strasbourg -- The Price of Bad Loans: An International Banking Comparison

Discussants: ALI DARRAT, Louisiana Tech University
NAEEM MUHAMMAD, University of Wollongong
GEORGIOS CHORTAREAS, University of Essex
VUSLAT US ALIOGLU, Central Bank of the Republic of Turkey
SAMY BEN NACEUR, University of Tunis Carthage


Jan. 5, 2:30 pm
NAEE/NCEE

Economics Education: Evaluating Instructor Effectiveness (A2)

Presiding: SUSAN DOTY, University of Southern Mississippi

ANGELA DILLS, Mercer University, and DENNIS PLACONE, Clemson University--Teacher Attitudes and Teacher Knowledge in Economic Education

SAMER KHERFI, American University of Sharjah--Whose Opinion Is It Anyway? Characteristics of Respondents to Student Surveys of Teachings

TIN-CHUN LIN, Indiana University-Northwest--Revenge or Reward: Economic Behavior of Student Evaluation of Teachers

BILL GOFFE, State University of New York-Oswego--Redesigning a Large Macro Principles Course Using Bain's What the Best College Teachers Do

Discussants: ANDREW I. KOHEN, James Madison University
SOLINA LINDAHL, California Polytechnic State University
MORRIS COATS, Nicholls State University
MIKE LOVELL, Wesleyan University


Jan. 5, 2:30 pm
NAFE

Forensic Economics IV (K4)

Presiding: MICHAEL L. BROOKSHIRE, Marshall University Graduate College

DAVID SCHAP, College of the Holy Cross, and STEVEN J. SHAPIRO, University of New Haven, and CAITLIN STREET, College of the Holy Cross--Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of Rhode Island

STEPHEN M. HORNER, Economic Consulting--Stationarity of Medical Net Discount Rates

MICHAEL J. PIETTE, Analytical Economics, Inc., and FRANK SLESNICK, Bellarmine University--Net Accumulation to the Estate: Meaning and Measurement

Discussants: PETER A. MARKS, Rhode Island College
REBECCA SUMMARY, Southeast Missouri State University
FRANK D. TINARI, Tinari Economics Group


Jan. 5, 2:30 pm
NEA

Human Capital, Social Capital, and Wealth Among Hispanics in the United States (I3)

Presiding: ALBERTO DAVILA, University of Texas-Pan American

DAVID MOLINA, University of North Texas--Income Inequality Between Homogeneous Race/Ethnic Households and Mixed Race/Ethnic Households

BARBARA J. ROBLES, Arizona State University--Using Tax Refunds to Capitalize Micro-Businesses: Family and Community wealth Building in the Borderlands

RENE P. ROSENBAUM, Michigan State University--Articulating the Economic Importance of Non-Parental Child Care for U.S. Hispanics: Challenges for Policy

RICHARD FRY, Pew Hispanic Center--The Educational Attainment of Hispanic Youth in New Settlement States

Discussants: MARK HUGO LOPEZ, University of Maryland
TEOFILO OZUNA, University of Texas-Pan American
SUE STOCKLY, Eastern New Mexico University
ISABEL RUIZ, Sam Houston State University


Jan. 5, 2:30 pm
NAEFA

Trade, Investment and Economic Integration in the Americas (F1)

Presiding: MAHMOOD ZAIDI, University of Minnesota

ANDREAS WALDKIRCH, Colby College--The Effects of Foreign Direct Investment in Mexico since NAFTA

AHMED KHALID, Bond University--Mexican Currency Crisis and its Spillover Effects to Global Financial Markets -- Granger Causality Tests Using a Multivariate VAR Model

LUIS CACERES, UNDP El Salvador--Human Capital, Institutions, and Economic Integration in Latin America

ERWAN QUINTIN, Federal Reserve Bank of Dallas--Currency Crises, Worker Reallocation, and Total Factor Productivity

Discussants: SVEN ARNDT, Claremont McKenna College
HARVEY ROSENBLUM, Federal Reserve Bank of Dallas
ANIL KUMAR, Federal Reserve Bank of Dallas
JIM BROX, University of Waterloo


Jan. 5, 2:30 pm
SCE

Computational Aspects of Macroeconomic Policy Modeling (C6)

Presiding: SHARON KOZICKI, Bank of Canada

ROBERTO BILLI, Federal Reserve Bank of Kansas City--Optimal Inflation for the U.S.

RHYS MENDES, Bank of Canada--Information, Expectations and the Business Cycle

AQIB ASLAM, University of Cambridge, LUISA CORRADO, University of Rome Tor Vergata and University of Cambridge, and SEAN HOLLY, University of Cambridge--Solution of DSGE Models Through Persistent Excitation

MICHEL JUILLARD, Paris School of Economics--DYNARE: A Toolbox for the Solution and Estimation of DSGE Models

Discussants: ROBERT TETLOW, Federal Reserve Board
LAWRENCE CHRISTIANO, Northwestern University
GARY S. ANDERSON, Federal Reserve Board


Jan. 5, 2:30
SGE

The Distinguished Lecture on Economics in Government

Presiding: JONATHAN A. SCHWABISH, Congressional Budget Office

PETER ORSZAG, Director, Congressional Budget Office


Jan. 5, 2:30 pm
URPE

E.K. Hunt's Contribution to Radical Economics (Roundtable Discussion) (A1)

Presiding: JUSTIN ELARDO, Ohio State University

MARK LAUTZENHEISER, Earlham College

GARY DYMSKI, University of California-Riverside

ROBERT POLLIN, University of Massachusetts-Amherst

AL CAMPBELL, University of Utah

KORKUT ERTURK, University of Utah

INGRID RIMA, Temple University


Jan. 5, 2:30 pm
URPE

Heterodox Macroeconomics (E1)

Presiding: ELLEN FRANK, Rhode Island College

SIMON MOHUN and ROBERTO VENEZIANI, Queen Mary University of London--Goodwin Cycles in the U.S. and U.K. Economies, 1948-2004

ERIK OLSEN, University of Missouri-Kansas City--Marxian Social Accounting and Modeling: A Social Accounting Matrix Approach

RON BAIMAN, Loyola University Chicago--Down the Tubes We Go: A Detailed Analysis of the 2001-2006 Economic Expansion in Illinois and What It Portends for the Future of the U.S. Economy

TERRENCE MCDONOUGH, University of Ireland-Galway, and DAVID M. KOTZ, University of Massachusetts-Amherst--National Global Neoliberalism and the Contemporary Social Structure of Accumulation

Discussants: ELLEN FRANK, Rhode Island College
HOWARD PETITH, Universitat Autónoma de Barcelona


Jan. 5, 4:40 pm
AEA

Presidential Address

Presiding: AVINASH DIXIT, Princeton University

THOMAS J. SARGENT, New York University


Jan. 5, 5:15 pm
NAEFA

Annual Membership Meeting and Presidential Address


Jan. 5, 5:30 pm
AFA

Business Meeting and Presidential Address


Jan. 5, 6:00 pm
AEA

Business Meeting


Jan. 5, 7:00 pm
NEA & CSMGEP

Presidential Address and Reception



Sunday, January 6, 2008

Jan. 6, 8:00 am
AEA

Height, Health and Economic Development

Presiding: ANNE CASE, Princeton University

ANNE CASE and CHRISTINA PAXSON, Princeton University--Height and Cognitive Function

ANGUS DEATON, Princeton University--On Heights and Health

FRANCO PERACCHI and GIOVANNI VECCHI, Universita di Roma, and BRIAN A'HEARN, Franklin and Marshall College--Inequality in Height and Inequality in Living Standards: Historical Evidence from Italy

Discussant: JANET CURRIE, Columbia University


Jan. 6, 8:00 am
AEA

Price Manipulation in Financial Markets

Presiding: SHMUEL BARUCH, University of Utah

ALBERT S. KYLE, University of Maryland, and VISH VISWANATHAN, Duke University--How to Define Illegal Price Manipulation

BILGE YILMAZ, University of Pennsylvania, and ARCHISHMAN CHAKRABORTY, Baruch College, City University of New York--Microstructure Bluffing

AILSA ROELL, Columbia University and LIN PENG, Baruch College, City University of New York--Managerial Incentives and Stock Price Manipulation

Discussants: ALEX EDMANS, University of Pennsylvania
JENNIFER HUANG, University of Texas
MATTHEW PRITSKER, Federal Reserve Board


Jan. 6, 8:00 am
AEA

Student Incentives in Action: Experimental Evidence from Offering Money for Educational Achievement (I2)

Presiding: JOSHUA ANGRIST, Massachusetts Institute of Technology

ERIC BETTINGER, Case Western Reserve University--Paying to Learn: The Effects of Financial Incentives on Elementary School Test Scores

ROLAND FRYER, Harvard University--Incentivising: An Intuitive Approach to Raising Achievement

JOSHUA ANGRIST, Massachusetts Institute Of Technology, DANIEL LANG, and PHILIP OREOPOULOS, University of Toronto--Lead Them to Water and Pay Them to Drink: An Experiment with Services and Incentives for College Achievement

CECILIA ROUSE, Princeton University--The Effect of Financial Incentives on Community College Attainment: Evidence from Opening Doors

Discussants: VICTOR LAVY, Hebrew University
SUSAN DYNARSKI, Harvard University
CAROLINE HOXBY, Harvard University
MICHAEL KREMER, Harvard University


Jan. 6, 8:00 am
AEA

Applications of Recent Methodology in Project Evaluation

Presiding: CHRISTOPHER TABER, Northwestern University

JOSEPH ALTONJI, Yale University, TODD ELDER, Michigan State University, and CHRISTOPHER TABER, Northwestern University--Using Selection on Observed Variables to Assess Bias from Unobservables when Evaluating Swan-Ganz Catheterization

JAY BHATTACHARYA, Stanford University, AZEEM SHAIKH, Yale University, and EDWARD VYTLACIL, Columbia University--Exploiting Instrumental Variables to Bound the Effect of Swan-Ganz Catheterization

QI LI, Texas A&M University, JEFF RACINE, McMaster University, and JEFFREY WOOLDRIDGE, Michigan State University--Estimating Average Treatment Effects with Continuous and Discrete Covariates

Discussants: JOSEPH HOTZ, Duke University
ALBERTO ABADIE, Harvard University


Jan. 6, 8:00 am
AEA

New Comparative Economic History

Presiding: ALAN M. TAYLOR, University of California-Davis

GREGORY CLARK, University of California-Davis, KEVIN H. O'ROURKE, Trinity College, Dublin, and ALAN M. TAYLOR, University of California-Davis--Made in America? The Industrial Revolution and the New World

DAVID S. JACKS, Simon Fraser University, CHRISTOPHER M. MEISSNER, University of California-Davis, and DENNIS NOVY, University of Warwick, UK--Trade Costs, 1870-2000

HANS-JOACHIM VOTH, Pompeu Fabra University, and DENNIS QUINN, Georgetown University--A Century of Global Equity Market Correlations

Discussant: BARRY EICHENGREEN, University of California-Berkeley


Jan. 6, 8:00 am
AEA

Epidemiology and Economics (I1)

Presiding: TOMAS PHILIPSON, University of Chicago

SCOTT BARRETT, Johns Hopkins University--The Polio Eradication Game

ROBERT ROWTHORN, RAMANAN LAXMINARYAN, and CHRISTOPHER GILLIGAN, University of Cambridge--Optimal Control of Epidemics in Metapopulations

FLAVIO TOXVAERD, University of Cambridge--The Dynamics of Decentralized Treatment

Discussants: TOMAS PHILIPSON, University of Chicago


Jan. 6, 8:00 am
AEA

Health and Economic Outcomes: Linkages across the Life Cycle (I1)

Presiding: HOYT BLEAKLEY, University of Chicago

JOSEPH FERRIE, Northwestern University, KAREN ROLF, University of Nebraska, and WERNER TROESKEN, University of Pittsburgh--"On the Street Where You Live": Effects of a Child's Neighborhood on Later Life Outcomes

DOUGLAS ALMOND, Columbia University, and MICHAEL GREENSTONE, Massachusetts Institute of Technology--U.S. Above-Ground Nuclear Tests of the 1950s and Subsequent Health and Socioeconomic Outcomes

DEAN YANG and SHARON MACCINI, University of Michigan--Under the Weather: Health, Schooling, and Socioeconomic Consequences of Early-Life Rainfall

HOYT BLEAKLEY, University of Chicago--Malaria in the Americas: A Retrospective Analysis of Childhood Exposure


Jan. 6, 8:00 am
AEA

Exchange Rates and Trade Prices in Emerging Markets (F1)

Presiding: FRANK SMETS, European Central Bank

PHILIPPE AGHION, Harvard University, PHILIPPE BACCHETTA, Study Center Gerzensee, ROMAIN RANCIERE, International Monetary Fund, and KENNETH ROGOFF, Harvard University--Exchange Rate Volatility and Productivity Growth: The Role of Financial Development

GUILLERMO CALVO, University of Maryland, ONDRA KAMENIK, Czech National Bank, and MICHAEL KUMHOF, International Monetary Fund--Trade Openness and Monetary Policy Rules

JEFFREY FRANKEL, Harvard University, DAVID PARSLEY, Vanderbilt University, and SHANG-JIN WEI, International Monetary Fund--Slow Pass-through Around the World: A New Import for Developing Countries?

MATTHIEU BUSSIERE and TUOMAS PELTONEN, European Central Bank--Pricing to Market in Emerging Markets: The Role of the Exchange Rate Regime

Discussants: PHILIPPE MARTIN, University of Paris I
MARTIN URIBE, Duke University
GRACIELA KAMINSKY, George Washington University
LAURA ALFARO, Harvard Business School


Jan. 6, 8:00 am
AEA

Long-Run Risk (G1)

Presiding: STIJN VAN NIEUWERBURGH, New York University

RAVI BANSAL, Duke University--Long-Run Risk in Financial Economics

XIAOHONG CHEN, JACK FAVILUKIS, and SYDNEY LUDVIGSON, New York University--An Estimation of Economic Models with Recursive Preferences

HANNO LUSTIG, University of California-Los Angeles, STIJN VAN NIEUWERBURGH, New York University, and ADRIEN VERDELHAN, Boston University--The Role of the Wealth-Consumption Ratio in Leading Asset Pricing Models

Discussants: RICARDO COLACITO, University of North Carolina-Chapel Hill
DANA KIKU, University of Pennsylvania
LARS P. HANSEN, University of Chicago


Jan. 6, 8:00 am
AEA

Product Markets and Corporate Finance (G3)

Presiding: DALIDA KADYRZHANOVA, University of Maryland

GERARD HOBERG, University of Maryland, and GORDON PHILLIPS, University of Maryland and NBER--Real and Financial Industry Booms and Busts

RICHMOND MATHEWS and DAVID ROBINSON, Duke University--Market Structure, Internal Capital Markets, and the Boundaries of the Firm

HEATHER TOOKES and MATTHEW SPIEGEL, Yale University--Dynamic Competition, Innovation and Strategic Financing

ANTONIO FALATO, Federal Reserve Board, and DALIDA KADYRZHANOVA, University of Maryland--Managerial Incentives and Dynamic Competition

Discussants: PAUL POVEL, University of Minnesota
PAOLO FULGHIERI, University of North Carolina
VOJISLAV MAKSIMOVIC, University of Maryland
ALEX EDMANS, University of Pennsylvania


Jan. 6, 8:00 am
AEA

International Capital Flows (F3)

Presiding: ASSAF RAZIN, Tel Aviv University and Cornell University

CEDRIC TILLE, Federal Reserve Bank of New Yorkm, and ERIC VAN WINCOOP, University of Virginia--International Capital Flows

MICHAEL DEVEREUX, University of British Columbia, and ALAN SUTHERLAND, University of St. Andrews--Country Portfolio Dynamics

NICOLAS COEURDACIER, ESSEC and Paris School of Economics, ROBERT KOLLMANN, ECARES, Free University of Brussels, and PHILIPPE MARTIN, University of Paris 1 and Paris School of Economics--Return Volatility and International Portfolio Choice

ITAY GOLDSTEIN, University of Pennsylvania, ASSAF RAZIN, Tel Aviv University and Cornell University, and HUI TONG, International Monetary Fund--Portfolio Balance and Reversals of International Capital Stocks: Differences Across Debt and Equity Capital

Discussants: JAUME VENTURA, Universitat Pompeu Fabra
PHILIP LANE, Trinity College Dublin
JONATHAN HEATHCOTE, Georgetown University and Federal Reserve Board
JEAN IMBS, University of Lausanne


Jan. 6, 8:00 am
AEA

The Economics of Family and Work (J1)

Presiding: RAQUEL BERNAL, Northwestern University

RAQUEL BERNAL, LUOJIA HU, CHIAKI MORIGUCHI, and EVA NAGYPAL, Northwestern University--The Economic of Child Adoption: Evidence from Micro-level Data

CLAUDIA OLIVETTI, Boston University, and BARBARA PETRONGOLO, London School of Economics--Gaps across Skills: Selection or Inequality?

ALESSANDRA FOGLI and LAURA VELDKAMP, New York University--Learning and Female Labor Force Participation

JOHN KNOWLES, University of Pennsylvania, MELISSA TARTARI, Yale University, and PETRA TODD, University of Pennsylvania--Explaining Wealth and Consumption Variation over the Life-Cycle and Across Households: A Dynamic Model of Labor Supply, Savings and Fertility

Discussants: To be announced.


Jan. 6, 8:00 am
AEA

Social Capital, Risk Sharing, and Development

Presiding: SEBNEM KALEMLI-OZCAN, University of Houston and NBER

AIMEE CHEN, SEBNEM KALEMLI-OZCAN and BENT SORENSEN, University of Houston and NBER--Social Capital and Risk Sharing: Evidence from the U.S.

LUIGI GUISO, European University Institute and CEPR, PAOLA SAPIENZA, Northwestern University and CEPR, and LUIGI ZINGALES, University of Chicago and NBER and CEPR--Testing Putnam

CHARLOTTE OSTERGAARD, IBOLYA SCHINDELE, Norwegian School of Management, and BENT VALE, Norwegian Central Bank--Social Capital and Regionality in Financial Intermediation: Evidence from Norwegian Banking

ASHLEY LESTER, KAIVAN MUNSHI, Brown University, and MARK ROSENZWEIG, Yale University and NBER--Identity, Interest and Commitment: Voting in Indian Panchayat Elections

Discussants: RAQUEL FERNANDEZ, New York University and NBER
FRANCESCO GIAVAZZI, University of Bocconi, NBER, and CEPR
MARK SPIEGEL, Federal Reserve Bank of San Francisco
CHRISTOPHER UDRY, Yale University and NBER


Jan. 6, 8:00 am
AEA

Empirical Studies of Household Financial Behavior

Presiding: DAVID LOVE, Williams College

JASON SELIGMAN and RANA BOSE, University of Georgia--Active Pension Participation and Independent Household Wealth Accumulation

CASEY ROTHSCHILD, Middlebury College--Adverse Selection and the Annuity Puzzle: Evidence from the U.K. Life Annuity Act of 1808

WENDY EDELBERG, MICHAEL PALUMBO, and DAVID REIFSCHNEIDER, Federal Reserve Board-- Financial Innovations and Household Spending Behavior

DAVID LOVE, Williams College, and PAUL SMITH, Federal Reserve Board--Risky Pensions and Household Saving over the Life Cycle

Discussants: SCOTT WEISBENNER, University of Illinois
NORMA COE, Tilburg University
JEFFREY BROWN, University of Illinois
ANNEMARIA LUSARDI, Dartmouth College


Jan. 6, 8:00 am
AEA

Trade and Political Economy (F1)

Presiding: PAOLA CONCONI, Universitè Libre de Bruxelles (ECARES) and CEPR

POL ANTRAS, Harvard University, and GERARD PADRO-I-MIQUEL, Stanford University--Foreign Influence and Trade Policy

PAOLA CONCONI, Universitè Libre de Bruxelles (ECARES) and CEPR, GIOVANNI FACCHINI, University of Essex, Universita degli Studi di Milano and CEPR, and MAURIZIO ZANARDI, Tilburg University--Fast Track Authority and International Negotiations

NUNO LIMAO, University of Maryland, and PATRICIA TOVAR-RODRIGUEZ, Brandeis University--The Choice of Inefficient Redistribution Policies in International Trade

WILLIAM HAUK, University of South Carolina--Protection with Many Sellers: An Application to Legislatures with Malapportionment

Discussants: GIOVANNI MAGGI, Yale University
POL ANTRAS, Harvard University
ANDREI LEVCHENKO, International Monetary Fund
DEVASHISH MITRA, Syracuse University


Jan. 6, 8:00 am
AEA

The Causes and Consequences of Medical Innovation

Presiding: RENA CONTI, University of Chicago

PARIS CLEANTHOUS, New York University, WONJOON KIM, Korea Advanced Institute of Science & Technology and Yale University, DICK WITTINK, Yale University--Pharmaceutical Firms' Strategic Innovation Decisions and Patients' Welfare Dynamics: Innovate or Imitate?

JUAN CONTRERAS, Congressional Budget Office, BEOMSOO KIM, University of North Carolina-Greensboro, and IGNEZ TRISTAO, Congressional Budget Office--Does Experience Make Better Doctors? Experience from LASIK Eye Surgeries

RENA CONTI, University of Chicago--The Economic Value of New Treatments for Depression

BO MACINNIS, University of Michigan--Taking Pills to Work: Are Chronically Ill Middle-Aged Men Made Better Off in Labor Markets by Medical Innovations?

Discussants: To be announced.


Jan. 6, 8:00 am
AEA

Marriage, Divorce, and Fertility

Presiding: LISA GIDDINGS, University of Wisconsin-LaCrosse

KASEY BUCKLES, University of Notre Dame--Understanding the Returns to Delayed Childbearing for Working Women

KRISTIN MAMMEN, Barnard College, Columbia University--The Effects of Children's Gender on Living Arrangements and Child Support

BETSEY STEVENSON, University of Pennsylvania--Divorce-Law Changes, Household Bargaining, and Married Women's Labor Supply Revisited

JUNGMIN LEE, Florida International University and IZA, and AMY FARMER, University of Arkansas-Fayetteville--Infertility and Female Labor Supply

Discussants: JOYCE P. JACOBSEN, Wesleyan University
LISA GIDDINGS, University of Wisconsin-LaCrosse
SHELLY LUNDBERG, University of Washington
LUCIE SCHMIDT, Williams College


Jan. 6, 8:00 am
AEA

The Output of Banking and Finance

Presiding: J. STEVEN LANDEFELD, Director, Bureau of Economic Analysis

DENNIS FIXLER, MARSHALL REINSDORF, and GEORGE SMITH, Bureau of Economic Analysis--New Measures of the Services of Commercial Banks in US GDP

SUSANTO BASU and J. CHRISTINA WANG, Boston College and Federal Reserve Bank of Boston--Technological Progress, "Money" in the Utility Function, and the "User Cost of Money"

ADAM ASHCRAFT, Federal Reserve Bank of New York--Measuring the Contribution of Recent Financial Innovations in the National Accounts

Discussants: DIANA HANCOCK, Federal Reserve Board
ERWIN DIEWERT, University of British Columbia
TIMOTHY KOCH, University of South Carolina


Jan. 6, 8:00 am
AEA

Computer Assisted Instruction: Making Technology Effective in Principles Courses

Presiding: BETTY J. BLECHA, San Francisco State University

JOSEPH PALARDY, KRISS SCHUELLER, and TOD PORTER, Youngstown State University-- Macropolicy: Simulation Software for Principles of Macroeconomics

MICHAEL SALEMI, University of North Carolina-Chapel Hill-- Large Principles Sections and Clicker Technology

STUART ALLEN and JEFF K. SARBAUM, University of North Carolina-Greensboro-- Principles of Economics as a Game

COLE R. GUSTAFSON, North Dakota State University--The Efficacy of Technology in Online and Conventional Principles Courses

Discussants: SHERYL BALL, Virginia Tech University
DANIEL A. TALLEY, South Dakota State University


Jan. 6, 8:00 am
AEA/ASE

History and Significance of ASSA: The Allied Social Science Association since the 1930s (A1)

Presiding: WILFRED DOLFSMA, University of Groningen

JOHN SIEGFRIED, Vanderbilt University

MICHAEL BERNSTEIN, Tulane University

BETSY JANE CLARY, College of Charleston

Discussants: DEIRDRE MCCLOSKEY, University of Illinois-Chicago


Jan. 6, 8:00 am
AEA/TPUG

Network Neutrality

Presiding: CHRISTIAAN HOGENDORN, Wesleyan University

GERRY FAULHABER, University of Pennsylvania--Net Neutrality: The Core of the Debate

SIMON WILKIE, University of Southern California--Principles for Network Neutrality

ELI NOAM, Columbia University--Net Neutrality in Practice

Discussants: SHANE GREENSTEIN, Northwestern University
MARTIN PERRY, Rutgers University
JOHN MAYO, Georgetown University


Jan. 6, 8:00 am
AFA

Technology, Skewness and Stock Returns

Presiding: JONATHAN LEWELLEN, Dartmouth College

PAUL PO-HSUAN HSU, University of Connecticut--Aggregate Technology Shocks, Market Returns, and Market Premiums

ROBIN MARC GREENWOOD, Harvard Business School, and STEFAN NAGEL, Stanford University--Inexperienced Investors and Bubbles

LAURA FRIEDER, Purdue University, and GEORGE J. JIANG, University of Arizona--Separating Up from Down: New Evidence on the Idiosyncratic Volatility -- Return Relation

Discussants: DIMITRIS PAPANIKOLAOU, Northwestern University
OWEN LAMONT, Yale School of Management
JOSEPH CHEN, University of Southern California


Jan. 6, 8:00 am
AFA

Price (De-)Stabilizing Short Selling

Presiding: LASSE PEDERSEN, New York University

TAL FISHMAN, HARRISON G. HONG, Princeton University, and JEFFREY D. KUBIK, Syracuse University--Do Arbitrageurs Amplify Economic Shocks?

ANDRIY V. SHKILKO, Wilfrid Laurier University, BONNIE F. VAN NESS, and ROBERT A. VAN NESS, University of Mississippi--Predatory Short Selling

ZSUZSA HUSZAR, California State Polytechnic University-Pomona, and BRADFORD D. JORDAN, University of Kentucky--The Good News in Short Interest

PEDRO A.C. SAFFI, University of Navarra, and KARI SIGURDSSON, London Business School--Price Efficiency and Short-Selling

Discussants: DENNIS LASSER, State University of New York-Binghamton
MARKUS BRUNNERMEIER, Princeton University
NICOLAE GARLEANU, University of Pennsylvania
RONNIE SADKA, University of Washington


Jan. 6, 8:00 am
AFA

Venture Capital and Private Equity

Presiding: PER STRÖMBERG, Swedish Institute for Financial Research

MORTEN SORENSEN, University of Chicago--Learning by Investing: Evidence from Venture Capital

PAUL A. GOMPERS and YUHAI XUAN, Harvard Business School--The Role of Venture Capitalists in the Acquisition of Private Companies

ALEXANDER LJUNGQVIST, MATTHEW P. RICHARDSON, and DANIEL WOLFENZON, New York University--The Investment Behavior of Buyout Funds: Theory and Evidence

JOOST DRIESSEN, TSE-CHUN LIN, and LUDOVIC PHALIPPOU, University of Amsterdam--Estimating the Risk Exposure of Private Equity Funds: A New Methodology

Discussants: BURTON HOLLIFIELD, Carnegie Mellon University
OLA BENGTSSON, Cornell University
ULF AXELSON, Swedish Institute for Financial Research
MAGNUS DAHLQUIST, Swedish Institute for Financial Research


Jan. 6, 8:00 am
AFA

Bond Risk Premiums

Presiding: KENNETH SINGLETON, Stanford University

DIMITRI VAYANOS, London School of Economics & Political Science, and JEAN-LUC VILA, Merrill Lynch & Co.--A Preferred-Habitat Model of the Term Structure of Interest Rates

STEFANIA D'AMICO, Federal Reserve Board, DON H. KIM, and MIN WEI, Government of the United States of America--Tips from Tips: The Informational Content of Treasury Inflation-Protected Security Prices

MAXIM Ulrich, Goethe University Frankfurt--Model Uncertainty and Term Premia on Nominal Bonds

Discussants: JUN LIU, University of California-San Diego
GREGORY DUFFEE, University of California-Berkeley
SCOTT JOSLIN, Massachusetts Institute of Technology


Jan. 6, 8:00 am
AFA

Corporate Governance

Presiding: ALEXANDER DYCK, University of Toronto

TIM JENKINSON and TARUN RAMADORAI, University of Oxford--Do Investors Value High Levels of Regulation?

VALENTINA GIULIA BRUNO, American University, and STIJN CLAESSENS, International Monetary Fund--Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?

JOSEPH P.H. FAN, Chinese University of Hong Kong, JUN HUANG, Shanghai University of Finance & Economics, RANDALL MORCK, University of Alberta, and BERNARD YIN YEUNG, New York University--Institutional Determinants of Vertical Integration: Evidence from China

Discussants: CHRISTIAN LEUZ, University of Chicago
CRAIG DOIDGE, University of Toronto
FRANKLIN ALLEN, University of Pennsylvania


Jan. 6, 8:00 am
AREUEA

Housing Market Theory (R3)

Presiding: ROBERT H. EDELSTEIN, University of California-Berkeley

JAMES FOLLAIN, James R. Follain LLC, and SETH GIERTZ, Congressional Budget Office--A Panel Study of House Prices, Employment, and the Interest Rates

PAUL ANGLIN, University of Guelph--An Empirical Study of Local Dynamics and Contagion in Real Estate Markets

DANNY BEN-SHAHAR and EYAL SULGANIK, Technion Israel Institute of Technology--How Do We Determine Which Housing Market Allows for Greater Mobility?

LU HAN, University of Toronto--The Volatility Feedback Effects in Housing Markets

Discussants: STUART GABRIEL, University of California-Los Angeles
DESMOND TSANG, McGill University
THOMAS DAVIDOFF, University of California-Berkeley
GERD WELKE, Baruch College, City University of New York

Jan. 6, 8:00 am
AREUEA

REITs (G1)

Presiding: BRADFORD CASE, National Association of Real Estate Investment Trusts

TOBIAS MÜHLHOFER, Indiana University, JAY HARTZELL, and SHERIDAN TITMAN, University of Texas-Austin--Alternative Benchmarks for Evaluating REIT Mutual Fund Performance

WALTER I. BOUDRY, University of North Carolina-Chapel Hill, JARL G. KALLBERG, Thunderbird School of Global Management, and Crocker H Liu, Arizona State University--An Analysis of REIT Security Issuance Decisions

PETER LIU, ROBERT H. EDELSTEIN, University of California-Berkeley, and DESMOND TSANG, McGill University--Can Investors Profit from Voluntary Accounting Information?

RUSSELL M. PRICE, Howard University, and BRADFORD CASE, National Association of Real Estate Investment Trusts--NAV, Investor Sentiment and Risk: The Case of REITs

Discussants: LIANG PENG, University of Colorado-Boulder
BRENT AMBROSE, Pennsylvania State University
DAVID DOWNS, Virginia Commonwealth University
BOB CONNOLLY, University of North Carolina


Jan. 6, 8:00 am
ACES

Institutional Variation within Large Countries: Causes and Consequences (P1)

Presiding: SIMON JOHNSON, Massachusetts Institute of Technology and International Monetary Fund

DANIEL BERKOWITZ and KAREN CLAY, University of Pittsburgh--Legal Origins and the Evolution of Institutions: Evidence from American State Courts

JOANA NARITOMI, RODRIGO SOARES, and JULIANO ASSUNCAO, University of Maryland--Rent-Seeking and the Unveiling of 'De Facto' Institutions: Development and Colonial Heritage within Brazil

MARIO GAMBOA-CAVAZOS, VIDAL GARZA-CANTU, and EMILIANO SALINAS, Instituto Tecnológico de Estudios Superiores de Monterrey, Mexico--The Organization of Corruption: Political Horizons and Special Interests

WILLIAM PYLE, Middlebury College--Democracy, Organized Business and Property Rights Across the Russian Federation

Discussants: ALBERTO DIAZ-CAYEROS, Stanford University
KRIS MITCHENER, Santa Clara University
PETER MURRELL, University of Maryland


Jan. 6, 8:00 am
AERE

Understanding Environmental Preferences (Q5)

Presiding: SANDRA HOFFMANN, Resources for the Future

DAVID KINGSLEY, University of Colorado-Boulder--The Role of Preference Uncertainty in the Willingness to Pay - Willingness to Accept Disparity: An Experimental Test

DEBRA ISRAEL, Indiana State University--Gender, Household Decision-Making and Environmental Giving

IKUHO KOCHI, Colorado State University, and LAURA TAYLOR, North Carolina State University--Estimating the Value of a Statistical Life for Heterogeneous Risks in a Revealed Preference Framework

CAMERON SPEIR and AMY ANDO, University of Illinois--Modeling Recreational Anglers' Response to Fish Consumption Advisories Over Time

Discussants: CATHERINE KLING, Iowa State University
SANDRA HOFFMANN, Resources for the Future
J.R. DESHAZO, University of California-Los Angeles
KEN BAERENKLAU, University of California-Riverside


Jan. 6, 8:00 am
ES

Theory and Evidence on Pricing Factors in Asset Markets (G1)

Presiding: NOUR MEDDAHI, Montreal University

ENZO GIACOMINI, and WOLFGANG HÄRDLE, CASE, Humboldt-Universität zu Berlin--Dynamic Factor Models in Risk Preferences Estimation

DENNIS PHILIP, Cass Business School, CHIHWA KAO, Syracuse University, and GIOVANNI URGA, Cass Business School--Testing for Instability in Factor Structure of Yield Curves

SHENG LI and ANDREW PATTON, London School of Economics--Time-Varying Liquidity in Hedge Fund Returns

GEORGE DIACOGIANNIS, University of Piraeus, and DAVID FELDMAN, University of New South Wales--The CAPM Relation For Inefficient Portfolios

BRUNO FEUNOU, Montreal University and CREST, and NOUR MEDDAHI, Imperial College London--Generalized Affine Models


Jan. 6, 8:00 am
ES

Topics in Macro and Growth (E2)

Presiding: OLEKSIY KRYVTSOV, Bank of Canada

MATTEO IACOVIELLO, Boston College, and STEFANO NERI, Bank of Italy--The Role of Housing Collateral in an Estimated Two-Sector Model of the US Economy

KENICHI UEDA, International Monetary Fund--Value of Life and Economic Growth

ANI GUERDJIKOVA and LEVON BARSEGHYAN, Cornell University--Private Incentives versus Class Interests: Implications for Economic Growth

OLEKSIY KRYVTSOV, Bank of Canada, and VIRGILIU MIDRIGAN, New York University and Federal Reserve Bank of Minneapolis--Markups and Inventories in General Equilibrium (S,s) Model


Jan. 6, 8:00 am
ES

Structural Econometrics (C3)

Presiding: ROBERT SAUER, University of Southampton

KENNETH JUDD, Hoover Institution, and CHE-LIN SU, Northwestern University--Constrained Optimization Approaches to Estimation of Structural Models

BO HONORE, Princeton University, and AUREO DE PAULA, University of Pennsylvania--Interdependent Durations

ROBERT MOFFITT, Johns Hopkins University, WEI TAN, State University of New York-Stony Brook, and ZHONG ZHAO, IZA--Weighting for Attrition in Panel Data Structural Models

MICHAEL P. KEANE, University of Technology Sydney, and ROBERT M. SAUER, University of Southampton--Classification Error in Discrete Choice Models: Implications for Female Labor Supply Behavior

Discussants: PATRICK BAJARI, University of Minnesota
ELIE TAMER, Northwestern University
GEERT RIDDER, University of Southern California
JASON ABREVAYA, Purdue University


Jan. 6, 8:00 am
ES

Empirical Industrial Organization II (L1)

Presiding: MO XIAO, University of Arizona

TONG LI, Vanderbilt University, HARRY J. PAARSCH, and TIMOTHY P. HUBBARD, University of Iowa--Semiparametric Estimation in Models of First-Price, Sealed-Bid Auctions with Affiliation

ANDREW SWEETING, Northwestern University--The Costs of Product Repositioning: The Case of Format Switching in the Commercial Radio Industry

AVI GOLDFARB and BOTAO YANG, University of Toronto--Are All Managers Created Equal?

MO XIAO, University of Arizona, and PETER F. ORAZEM, Iowa State University--Entry Threat and Entry Deterrence: The Timing of Broadband Rollout

Discussants: LANIER BENKARD, Stanford University
MICHAEL MAZZEO, Northwestern University
FEDERICO CILIBERTO, University of Virginia
SUDIP GUPTA, Indian School of Business


Jan. 6, 8:00 am
ES

Foundations of Price Formation (D4)

Presiding: XAVIER VIVES, IESE Business School

MARK SATTERTHWAITE and KONSTANTINOS E. ZACHARIADIS, Northwestern University--Interdependent Costs and Values, the Buyers' Bid Double Auction, and the Rate of Convergence to Truth Telling

HUANXING YANG and LIXIN YE--Ohio State University, Search with Learning: Understanding Asymmetric Price Adjustments

ARTYOM SHNEYEROV, University of British Columbia--Bilateral Matching and Bargaining with Private Information

XAVIER VIVES, IESE Business School and UPF--Strategic Supply Function Competition with Private Information

Discussants: ANDREW POSTLEWAITE, University of Pennsylvania
ANDRZEJ SKRZYPACZ, Stanford University
JAN EECKHOUT, University of Pennsylvania
WILLIAM FUCHS, University of Chicago


Jan. 6, 8:00 am
ES

Monetary Economics (E5)

Presiding: BENJAMIN LESTER, University of Pennsylvania

JONATHAN CHIU, and MIGUEL MOLICO, Bank of Canada--Uncertainty, Inflation and Welfare

RICHARD DUTU, Waikato Management School, STELLA HUANGFU, University of Sydney, and BENOIT JULIEN, University of New South Wales--Money, Capital and Unemployment

ALEKSANDER BERENTSEN, University of Basel, and CHRISTOPHER WALLER, University of Notre Dame--Optimal Stabilization Policy with Endogenous Firm Entry

ALLEN HEAD and JUNFENG QIU, Queen's University--Elastic Money, Inflation, and Interest Rate Policy

Discussants: S. BORAGAN ARUOBA, University of Maryland
LING SUN, University of Toronto
VERONICA GUERRIERI, University of Chicago
BENJAMIN LESTER, University of Pennsylvania


Jan. 6, 8:00 am
IHEA

Health Insurance and Incentives

Presiding: RANDALL P. ELLIS, Boston University

M. KATE BUNDORF and JONATHAN LEVIN, Stanford University--Pricing Health Insurance: The Efficiency Implications of Heterogeneous Risks and Preferences

GEIR GODAGER, TOR IVERSEN, University of Oslo, and CHING-TO ALBERT MA, Boston University--Service Motives and Profit Incentives among Physicians

RANDALL P. ELLIS, Boston University, and WILLARD G. MANNING, University of Chicago--Optimal Health Insurance for Prevention and Treatment

Discussants: AMY FINKELSTEIN, Massachusetts Institute of Technology
DANA GOLDMAN, Rand Corporation
W. DAVID BRADFORD, Medical University of South Carolina


Jan. 6, 8:00 am
LERA

The Gloves-Off Economy: Problems and Possibilities at the Bottom of America's
Labor Market

Presiding: ANNETTE BERNHARDT, New York University School of Law

CHRIS TILLY, University of Massachusetts--An Introduction and Overview of the "Gloves-Off Economy"

LAURA DRESSER, University of Wisconsin-Madison--Caring and Cleaning in the Home: Intimate and Isolated but not Immutable

NIK THEODORE and JAMIE PECK, University of Illinois-Chicago--Remaking Temporary Work

DAVID WEIL, Boston University--Of High Roads and Low Roads: Understanding the Political Economy of Workplace Regulations

Discussants: RUTH MILKMAN, University of California-Los Angeles
WADE RATHKE, ACORN
MIKE PIORE, Massachusetts Institute of Technology


Jan. 6, 8:00 am
LERA

Domestic Partners: Rights, Responsibilities and Benefits in the New
American Workplace

Presiding: MARLENE HEYSER, Workplace Law Strategies
ELLIS MUROV, Esq., Employee Benefits Attorney
SARA ADLER, Arbitrator/Mediator
STEVEN BRIGGS, DePaul University
STEVEN HENDERSON, United Food & Commercial Workers


Jan. 6, 8:00 am
LERA

Institutions, Work Organization, Job Quality, and Worker Outcomes in
Retail in the United States and Western Europe

Presiding: EILEEN APPELBAUM, Rutgers University

SOPHIE PRUNIER-POULMAIRE, PHILIPPE ASKENAZY, and JEAN-BAPTISTE BERRY, University of Paris IX- Nanterre--Working Hard in Large French Retailers

DOROTHEA VOSS-DAHM, GEOFF MASON, and MATT OSBORNE, Institut Arbet und Teknik--Labor Market Outcomes in Different National Settings: UK-German Comparison in Retailing

LARS ESBJERG, KLAUS G. GRUNERT and NUKA BUCK, Aarhus School of Business--Job Satisfaction in a Low-Wage, Low-Status Industry: The Case of Danish Food Retailing

FRANÇOISE CARRÉ, CHRIS TILLY, BRANDYN HOLGATE, and PHILIP MOSS, University of Massachusetts-Boston--Possibilities for Improving Service and Job Quality in US Food and Consumer Electronics Retail

Discussants: BARBARA GILBERT CHEN, Food and Commercial Workers International Union


Jan. 6, 8:00 am
URPE

Heterodox Development Economics (O1)

Presiding: CAMERON WEBER, New School for Social Research

T. KRISHNA KUMAR, Indian Institute of Management, India, and SUSHANTA MALLICK, Queen Mary-University of London--Estimating Consumption Deprivation in India Using Survey Data

OMAR DAHI, Hampshire College, and FIRAT DEMIR, University of Oklahoma--Asymmetric Effects of Financial Sector Development on North-South and South-South Trade: Evidence from South American Countries

TIM KOECHLIN, Vassar College, and MEHRENE LARUDEE, DePaul University--Wages, Productivity and Foreign Direct Investment Flows: An Empirical Assessment of the 'Pauper Labor Argument'

LEANNE USSHER, Queens College, City University of New York--International Price Stability, Full Employment and Global Balances: The Case for A Commodity Reserve Currency

FADHEL KABOUB, Drew University--Elements of a Radical Counter-Movement to Neoliberalism

Discussants: CAMERON WEBER, New School for Social Research
MWANGI WA GITHINJI, University of Massachusetts-Amherst


Jan. 6, 8:00 am
URPE

The Economy and Planning in Cuba Today (O5)

Presiding: FRANK THOMPSON, University of Michigan-Ann Arbor

AL CAMPBELL, University of Utah--The Cuban Economy: Continuity, Change and Performance

REMY HERRERA, University of Paris I--Contemporary Planning in Cuba

SINAN KOONT, Dickinson College--A Cuban Success Story: Urban Agriculture

ISAAC SANEY, Dalhousie University and Saint Mary's University, Canada--Race, Inequality & Revolution: Lessons from Cuba

Discussants: ROSE MARIA MARQUEZ, Pontifica Universidade Catolica de Sao Paolo
FRANK THOMPSON, University of Michigan-Ann Arbor


Jan. 6, 10:15 am
AEA

Assets and Credit Among Low-Income Households

Presiding: REBECCA BLANK, University of Michigan

RAPHAEL BOSTIC, University of Southern California--Mortgages, Risk, and Homeownership among Low- and Moderate-Income Families

KERWIN CHARLES, University of Chicago, MEL STEPHENS, Carnegie Mellon University, and BENJAMIN KEYS, University of Michigan--Differential Credit Market Use for Car Purchases by Income Level

PETER TUFANO, Harvard University--Saving While Gambling: An Empirical Analysis of UK Premium Bonds

Discussants: EDGAR OLSEN, University of Virginia
ANNAMARIA LUSARDI, Dartmouth College
OLIVIA MITCHELL, University of Pennsylvania


Jan. 6, 10:15 am
AEA

Work Incentives, Motivation, and Identity

Presiding: RACHEL KRANTON, University of Maryland

CANICE PRENDERGAST, University of Chicago--Bureaucratic Conflict

TIMOTHY BESLEY and MAITREESH GHATAK, London School of Economics--Investing in Motivation

GEORGE AKERLOF, University of California-Berkeley, and RACHEL KRANTON, University of Maryland--Whistleblowing and Sabotage: Loyalty and Work Group Identity

Discussant: ROBERT GIBBONS, Massachusetts Institute of Technology


Jan. 6, 10:15 am
AEA

The Economics of Conflict and Nation-Building (H5)

Presiding: SHARUN MUKAND, Tufts University

EDWARD GLAESER, Harvard University--The Political Economy of Warfare

SUMON MAJUMDAR, Queen's University, and SHARUN MUKAND, Tufts University--The Ballot and the Plough in Nation-Building

ELI BERMAN, University of California-San Diego, and DAVID LAITIN, Stanford University--Hard Targets: Theory and Evidence on Suicide Attacks

Discussants: ENRICO SPOLAORE, Tufts University
DANIELE PASERMAN, Hebrew University
GERARD PADRO I MIQUEL, Stanford University


Jan. 6, 10:15 am
AEA

The Behavioral Economics of Choice and the Shaping of Policy (D7)

Presiding: JEFFREY KLING, Brookings Institution

RICHARD THALER and CASS R. SUNSTEIN, University of Chicago--Choice Architecture: A Strategy for Libertarian Paternalistic Public Policy

WILLIAM GALE, Brookings Institution--Effects of Public Policies on the Disposition of Lump-Sum Distributions: Rational and Behavioral Influences

JEFFREY KLING, Brookings Institution, SENDHIL MULLAINATHAN, Harvard University, and ELDAR SHAFIR, Princeton University--Harnessing Market Forces not Market Complexity

Discussants: DAVID LAIBSON, Harvard University
DRAZEN PRELEC, Massachusetts Institute of Technology
STEFANO DELLAVIGNA, University of California-Berkeley


Jan. 6, 10:15, am
AEA

Economics of Terrorism (D0)

Presiding: WALTER ENDERS, University of Alabama

KEVIN SIQUEIRA and TODD SANDLER, University of Texas-Dallas--Terrorist Backlash, Terrorism Mitigation, and Policy Delegation

HOWARD KUNREUTHER and ERWANN MICHEL-KERJAN, University of Pennsylvania--The Economics of Security Externalities

HAMID MOHTADI, University of Wisconsin-Milwaukee--Optimal Security Investments and Catastrophic Terrorism

Discussants: LARRY SAMUELSON, University of Wisconsin-Madison
DANIEL ARCE, Rhodes College


Jan. 6, 10:15 am
AEA

New Perspectives on Financial Globalization

Presiding: JEFFREY FRANKEL, Harvard University

PHILIP LANE, Trinity College, Dublin, and GIAN MARIA MILESI-FERRETTI, International Monetary Fund--What Drives Financial Globalization?

HARALD HAU, INSEAD, and HELENE REY, Princeton University--Home Bias at the Fund Level

CARMEN REINHART, University of Maryland, and KENNETH ROGOFF, Harvard University--Capital Flow Cycles

Discussants: MICHAEL BORDO, Rutgers University
GITA GOPINATH, Harvard University
ALAN TAYLOR, University of California-Davis


Jan. 6, 10:15 am
AEA

Structural Reforms and Development (O1)

Presiding: ANNE KRUEGER, Stanford University

RAGHURAM RAJAN, University of Chicago--The Persistence of Underdevelopment: Constituencies and Competitive Rent Preservation

PAOLA GIULIANO, PRACHI MISHRA, DIEGO SCALISE, and ANTONIO SPILIMBERGO, International Monetary Fund--What Determines Structural Reforms in Developing Countries?

THIERRY TRESSEL and ZHIWEI ZHANG, International Monetary Fund--What is the Impact of Structural Policies in Developing Countries?

DAVID HAUNER and ALESSANDRO PRATI, International Monetary Fund--Sequencing Structural Reforms: Do Countries Do As They Are Told?

Discussants: DANI RODRIK, Harvard University
SIMON JOHNSON, Massachusetts Institute of Technology
ALLAN DRAZEN, University of Maryland


Jan. 6, 10:15 am
AEA

Effects on Natural and Human Resources of the Rise of Markets in Developing
Countries (O1)

Presiding: MARK PITT, Brown University

ANDREW FOSTER and SHEETAL SEKHRI, Brown University--Water Markets and the Decline of the Water Table in India

ALIX ZWANE, University of California-Berkeley, MICHAEL KREMER, Harvard University, JESSICA LEINO, and EDWARD MIGUEL, University of California-Berkeley--Spring Cleaning: A Randomized Evaluation of Source Water Quality Improvement

MUSHFIQ MOBARAK and MOLLY LIPSCOMB, University of Colorado-Boulder--The Costs of Decentralization: Water Pollution Spillovers from the Re-drawing of County Boundaries in Brazil

NIDHIYA MENON, Brandeis University, and YANA RODGERS, Rutgers University--Gendered Impacts of the Economic Liberalization in India

Discussants: EDWARD MIGUEL, University of California-Berkeley
MUSHFIQ MOBARAK, University of Colorado-Boulder
NIDHIYA MENON, Brandeis University
ANDREW FOSTER, Brown University


Jan. 6, 10:15 am
AEA

The Effects of Targeted Financial Incentives on Public-Sector Labor Market Decisions (J2)

Presiding: ERIC HANUSHEK, Hoover Institution, Stanford University

RICHARD MURNANE, JENNIFER STEELE, and JOHN WILLETT, Harvard University--The Effects of Workforce-Contingent Financial Aid on New Teachers' Employment Decisions

ERICA FIELD, Harvard University--Educational Debt Burden and Early Career Choice: Long-Run Evidence from a Financial Aid Experiment

JENNIFER IMAZEKI, San Diego State University--Differential Pay within School Districts: Is Combat Pay Effective?

CHARLES CLOTFELTER, Duke University, ELIZABETH GLENNIE, RTI International, HELEN LADD, and JACOB VIGDOR, Duke University--Would Higher Salaries Keep Teachers in High-Poverty Schools? Evidence from a Policy Intervention in North Carolina

Discussants: BRIAN JACOB, Harvard University
ERIC HANUSHEK, Hoover Institution, Stanford University


Jan. 6, 10:15 am
AEA

Options Backdating and Corporate Governance (G3)

Presiding: CHESTER SPATT, Carnegie Mellon University

RANDALL HERON, Indiana University, and ERIK LIE, University of Iowa--What Fraction of Stock Option Grants to Top Executives Have Been Backdated or Manipulated?

LUCIAN BEBCHUK, Harvard Law School, YANIV GRINSTEIN, Cornell University, URS PEYER, INSEAD--Lucky CEOs

DAVID CICERO, University of Delaware--Timing and Backdating of Executive Stock Option Exercises Before and After the Sarbanes-Oxley Act

Discussants: KATHLEEN HANLEY, Securities and Exchange Commission
JOHN BIZJAK, Portland State University
DAVID YERMACK, New York University


Jan. 6, 10:15 am
AEA

Real-Time Data Analysis and Forecasting (E0)

Presiding: DEAN CROUSHORE, University of Richmond

PIERRE SIKLOS, Wilfrid Laurier University, and DIANA WEYMARK, Vanderbilt University--Why Did the Fed Act Gradually? Estimating Changes in Inflation Pressure in Real-Time

JON FAUST, Johns Hopkins University, and JONATHAN WRIGHT, Federal Reserve Board--Comparing Greenbook and Reduced Form Forecasts Using a Large Real-Time Dataset

JAN JACOBS, CCSO and University of Groningen, and SIMON VAN NORDEN, HEC Montreal--Modeling Data Revisions: Measurement Error and Dynamics of 'True' Values

DEAN CROUSHORE, University of Richmond--Characteristics of U.S. Data Revisions

Discussants: JEAN BOIVIN, HEC Montreal
JOHN WILLIAMS, Federal Reserve Bank of San Francisco
GRAHAM ELLIOTT, University of California-San Diego
SHARON KOZICKI, Bank of Canada


Jan. 6, 10:15 am
AEA

Taxation and Corporate Investment and Financial Policies (H3)

Presiding: JIANJUN MIAO, Boston University

JIANJUN MIAO and FRANCOIS GOURIO, Boston University--Dynamic Effects of Permanent and Temporary Dividend Tax Cuts on Corporate Investment and Financial Policies

ALAN AUERBACH, ERIC CHANEY, University of California-Berkeley, and KEVIN HASSETT, American Enterprise Institute--Dividend Taxes, Partial Expensing and Business Fixed Investment: The Case of the Bush Tax Cuts

ANTON KORINEK and JOSEPH STIGLITZ, Columbia University--Dividend Taxation and Intertemporal Tax Arbitrage

LEIGH RIDDICK, American University, and TONI WHITED, University of Wisconsin-Madison--The Corporate Propensity to Save

Discussants: ROGER GORDON, University of California-San Diego
JAMES POTERBA, Massachusetts Institute of Technology
JIANJUN MIAO, Boston University
SIMON GILCHRIST, Boston University


Jan. 6, 10:15 am
AEA

Household Bargaining and Financial Security (D1)

Presiding: SHARON TENNYSON, Cornell University

LEORA FRIEDBERG, University of Virginia, and ANTHONY WEBB, Boston College--Determinants and Consequences of Bargaining Power within Households

H. ELIZABETH PETERS, SHARON TENNYSON, and FRANCES WOOLLEY, Carleton University--Household Bargaining and the Purchase of Long Term Care Insurance: My Wife is My Long Term Care Insurance

JEROME DE HENAU and SUSAN HIMMELWEIT, Open University--As Good As It Gets: Financial Security and the Dynamics of Power within Households

Discussants: VICKIE BAJTELSMIT, Colorado State University
SHELLY LUNDBERG, University of Washington
JENNIFER WARD-BATTS, Claremont McKenna College


Jan. 6, 10:15 am
AEA

Micro-Evidence on Costs and Benefits of Financial Integration (F3)

Presiding: GALINA HALE, Federal Reserve Bank of San Francisco

HOYT BLEAKLEY, University of Chicago, and KEVIN COWAN, Banco Central de Chile--The Mishmash on Mismatch? The Role of Corporate Balance-Sheets in Emerging-Market Crises.

PETER HENRY, Stanford University--Capital Account Liberalization: Theory, Evidence, and Speculation

HEINER SCHULZ, University of Pennsylvania--The Effect of Foreign Entry on Banking Sector Stability and Efficiency: Evidence from South Korea

GALINA HALE and MARK SPIEGEL, Federal Reserve Bank of San Francisco--When Shall a Country Have Its Own Bond Market? Evidence From Debt Listing Decisions Before and After the Launch of the EMU

Discussants: SEBNEM KALEMLI-OZCAN, University of Houston
NICOLA CETORELLI, Federal Reserve Bank of New York
NADA MORA, Bank of England
PHILIPPE MARTIN, University of Paris I


Jan. 6, 10:15 am
AEA

New Developments in Taxation Economics

Presiding: CLEMENS SIALM, University of Texas-Austin

MARCEL MAREKWICA, Johann Wolfgang Goethe University--Optimal Tax-Timing and Asset Allocation when Tax Rebates on Capital Losses are Limited

MARIKA SANTORO, Congressional Budget Office--Capital Income Taxation and Risk-Sharing

ANIL KUMAR, Federal Reserve Bank of Dallas--Nonparametric Estimation of the Impact of Taxes on Female Labor Supply

CLEMENS SIALM, University of Texas-Austin--Tax Changes and Asset Pricing

Discussants: GENE AMROMIN, Federal Reserve Bank of Chicago
MONICA SINGHAL, Harvard University
MELISSA KEARNEY, Brookings Institution and NBER
LI JIN, Harvard University
Jan. 6, 10:15 am
AEA

Empirical Analyses of Organizations and Markets

Presiding: THOMAS HUBBARD, Northwestern University

LUIS GARICANO and PAUL HEATON, University of Chicago--Information Technology, Organization, and Productivity in the Public Sector: Evidence from Police Departments

YIJUAN CHEN and QIANG PAN, University of Pennsylvania--Word-of-Mouth in Movies with Platform Release: Theory and Evidence

YASUTORA WATANABE, Northwestern University--Do Lawyers Work for Clients? Using Timing of Dropped Cases to Estimate Incentive Misalignment

Discussants: LIRAN EINAV, Stanford University
ALI HORTACSU, University of Chicago
PATRICK BAJARI, University of Minnesota


Jan 6, 10:15 am
AEA

The Economics of Teams and Groups

Presiding: ERNESTO REUBEN, Northwestern University

MICHAEL BRADY and STEVEN WU, Ohio State University-- Teams and Social Preferences

TAKAO KATO, Colgate University, and PIAN SHU, Massachusetts Institute of Technology--Performance Spillovers and Social Network in the Workplace: Evidence from Rural and Urban Weavers in a Chinese Textile Firm

ERNESTO REUBEN, Northwestern University, and ARNO RIEDL, Maastricht University--Reciprocity and Cooperation in Privileged Groups

PAOLA GIULIANO and ALBERTO ALESINA, Harvard University---The Power of the Family

Discussants: RACHEL CROSON, University of Pennsylvania
DAVID COOPER, Case Western Reserve University


Jan. 6, 10:15 am
AEA

Computer Assisted Instruction: New Resources and Directions

Presiding: TOD S. PORTER, Youngstown State University

CHARLES HOLT, University of Virginia--Veconlab - 50 Web-Based Experiments

CRAIG MARCOTT, University of St. Thomas--Illustrating Aggregate Production Functions with Micro Foundations with Mathematica

INNA POMORINA and JOHN SLOMAN, University of Bristol, UK---Recent Developments in the Economics Network

Discussants: BARRY KEATING, University of Notre Dame
MARCELO CLERICI-ARIAS, Stanford University


Jan. 6, 10:15 am
AEA

Health and Education in Developing Countries

Presiding: ALICIA MENENDEZ, University of Chicago

ADRIENNE LUCAS, Wellesley College--The Impact of Malaria Eradication on Contemporaneous Fertility

ADELINE DELAVANDE, RAND and Universidade Nova de Lisboa, and HANS-PETER KOHLER, University of Pennsylvania--HIV Testing and Subjective Expectations in Rural Malawi

SEEMA JAYACHANDRAN, Stanford University, and PAUL GLEWWE, University of Minnesota--Incentives to Teach Badly? After-School Tutoring in Developing Countries

STACEY CHEN, State University of New York-Albany, YEN-CHIEN CHEN, and JIN-TAN LIU, National Taiwan University--We Love Boys But Does it Matter? Evidence from Taiwanese Administrative Data

Discussants: HARSHA THIRUMURTHY, University of North Carolina-Chapel Hill
PASCALINE DUPAS, Dartmouth College
REMA HANNA, New York University
ELAINA ROSE, University of Washington


Jan. 6, 10:15 am
AEA

AEA Committee on the Status of Minority Groups in the Economics
Profession--Dissertation Session

Presiding: CECILIA ROUSE, Princeton University

ROBYNN COX, Georgia State University--Prison Labor in a Model of Dynamic and Complete Information

MAHAROUF OYOLOLA, University of Wisconsin-Milwaukee--Poverty Reduction, Aid and Economic Freedom

OMARI H. SWINTON, Duke University--An "A" for Effort: Should College Dropouts Try Harder?

LESLIE WALLACE, University of California-San Diego--The Dynamics of Jobholding among Contingent Workers and the Effect on Family Income

Discussants: NGINA CHITEJI, Skidmore College
GARY A. DYMSKI, University of California-Riverside
SUSAN COLLINS, Georgetown University and Brookings Institution
MARK HUGO LOPEZ, University of Maryland


Jan. 6, 10:15 am
AEA/AERE

Research Frontiers and Opportunities in Environmental Economics (Panel Discussion)

Presiding: ALAN KRUPNICK, Resources for the Future

CATHERINE KLING, University of Iowa
JOHN LIST, University of Chicago
ANTONIO RANGEL, CalTech
THOMAS SCHELLING, University of Maryland


Jan. 6, 10:15 am
AEA/AFE

Institutions and Innovation (O3)

Presiding: BERNARD YEUNG, New York University

MEGHANA AYYAGAR, Georgetown University, ASLI DEMIRGUC-KUNT, World Bank, and VOJISLAV MAKSIMOVIC, University of Maryland--Firm Innovation in Emerging Markets: The Roles of Governance and Finance

HYUNBAE CHUN, Queens College, New York, JUNG-WOOK KIM, University of Wisconsin-Madison, RANDALL MORCK, University of Alberta, and BERNARD YEUNG, New York University--Creative Destruction and Firm-Specific Performance Heterogeneity

THOMAS HELLMANN, University of British Columbia--An Economic Theory of Innovation and Inertia inside Firms

CHRISTOPHER W. ANDERSON, MARK HIRSCHEY, and HILLA RANTALA, University of Kansas--The Size and Concentration of Corporate R&D Spending.

Discussants: VIRAL ACHARYA, London School of Business
LEMMA W. SENBET, University of Maryland
GUSTAVO MANSO, Massachusetts Institute of Technology
DIANA KNYAZEVA, University of Rochester


Jan. 6, 10:15 am
AFA

Insider Trading, Arbitrage and Trader Identity

Presiding: TARUN CHORDIA, Emory University

UTPAL BHATTACHARYA, Indiana University-Bloomington, and HAZEM DAOUK, Cornell University--When No Law is Better Than a Good Law

BEN R. MARSHALL, Massey University, SIRIMON TREEPONGKARUNA, Australian National University, and MARTIN R. YOUNG, Massey University--Exploitable Arbitrage Opportunities Exist in the Foreign Exchange Market

JUHANI LINNAINMAA, University of Chicago--Does it Matter Who Trades? Broker Identities and the Information Content of Stock Trades

Discussants: ARTURO BRIS, IMD International
JUN LIU, University of California-San Diego
GIDEON SAAR, Cornell University


Jan. 6, 10:15 am
AFA

Financing Investment

Presiding: ANDREA EISFELDT, Northwestern University

HEITOR ALMEIDA, New York University, and MURILLO CAMPELLO, University of Illinois-Urbana-Champaign--The Interplay Between Financing and Investment Decisions: Evidence from Debt and Equity Issues

THOMAS CHANEY, University of Chicago, DAVID SRAER, National Institute of Statistics and Economic Studies (INSEE), and DAVID THESMAR, HEC Paris--The Corporate Wealth Effect: From Real Estate Shocks to Corporate Investment

ILYA A. STREBULAEV and SERGEY N. LOBANOV, Stanford University--A Theory of Dynamic Financing and Investment

Discussants: JOÃO GOMES, University of Pennsylvania
EFRAIM BENMELECH, Harvard University
NENG WANG, Columbia University


Jan. 6, 10:15 am
AFA

Banking and Relationship Lending

Presiding: PHILIP STRAHAN, Boston College

RADHAKRISHNAN GOPALAN, Washington University, St. Louis, GREGORY F. UDELL, and VIJAY YERRAMILLI, Indiana University-Bloomington--Why Do Firms Switch Banks?

RAJKAMAL IYER, University of Amsterdam, and MANJU PURI, Duke University--Who Runs? The Importance of Relationships in Bank Panics

SUMIT AGARWAL, Federal Reserve Banks, and ROBERT B.H. HAUSWALD, American University--The Choice between Arm's-Length and Relationship Debt: Evidence from Eloans

Discussants: DAVID SMITH, University of Virginia
AMIR SUFI, University of Chicago
MITCHELL PETERSEN, Northwestern University


Jan. 6, 10:15 am
AFA

The Role of Financial Advisors and Learning in Mergers and Acquisitions

Presiding: OGUZHAN OZBAS, University of Southern California

ANDRIY BODNARUK, University of Maastricht, MASSIMO MASSA, INSEAD and ANDREI SIMONOV, Stockholm School of Economics--The Dark Role of Investment Banks in the Market for Corporate Control

MATTHEW D. CAIN, Purdue University--The Information Content of Fairness Opinions in Negotiated Mergers

KENNETH ROBINSON AHERN , University of California-Los Angeles--Markets Talk, Firms Listen: The Dynamics of Repeat Acquirers

Discussants: JONATHAN REUTER, University of Oregon
MICAH OFFICER, University of Southern California
DAVID ROBINSON, Duke University


Jan. 6, 10:15 am
AFA

Portfolio Choice

Presiding: LUIS VICEIRA, Harvard Business School

JESSICA A. WACHTER and MOTOHIRO YOGO, University of Pennsylvania--Why Do Household Portfolio Shares Rise in Wealth?

STEPHEN G. DIMMOCK, Michigan State University--Portfolio Choice, Background Risk, and University Endowment Funds

SINAN TAN, Fordham University, and ANTHONY W. LYNCH, New York University--Labor Income Dynamics at Business-Cycle Frequencies: Implications for Portfolio Choice

VICTOR DEMIGUEL, London Business School, FRANCISCO J. NOGALES, Universidad Carlos III de Madrid, LORENZO GARLAPPI, University of Texas-Austin, and RAMAN UPPAL, London Business School--Improving Performance By Constraining Portfolio Norms: A Generalized Approach to Portfolio Optimization

Discussants: FRANCISCO GOMES, London Business School
ANNETTE VISSING-JORGENSEN, Northwestern University
LUCA BENZONI, University of Minnesota-Twin Cities
TONGSHU MA, State University of New York

Jan. 6, 10:15 am
AREUEA

Market & Liquidity (G1)

Presiding: JIM CLAYTON, Pension Real Estate Association

JAMES D. SHILLING, DePaul University, YUICHIRO KAWAGUCHI, Waseda University, and J. SA-AADU, University of Iowa--Do Changes in Illiquidity Affect Investors' Expectations? An Analysis of the Commercial Property Returns

JIM CLAYTON, Pension Real Estate Association, GIANLUCA MARCATO, and CHARLES WARD, University of Reading--Liquidity Estimation and Non-Linear Functional Form

JAMES D. SHILLING, DePaul University, and TIEN FOO SING, National University of Singapore--Market Structure of Real Estate Firms

JIM CLAYTON, Pension Real Estate Association, DAVID C. LING, and ANDY NARANJO, University of Florida--Real Estate Capital Flows, Investor Sentiment, and Asset Pricing

Discussants: SHAUN BOND, University of Cambridge
DIRK BROUNEN, RSM Erasmus University
JIM CLAYTON, Pension Real Estate Association
TOBIAS MUHLHOFER, Indiana University


Jan. 6, 10:15 am
AREUEA

Housing Markets & China (R3)

Presiding: JOHN M. QUIGLEY, University of California-Berkeley

HELEN X.H. BAO, Cambridge University, SHERRY Z. ZHOU, City University of Hong Kong, and JOHN L. GLASCOCK, Cambridge University--Land Value Determination in an Emerging Market: Empirical Evidence from China

YONGHENG DENG, University of Southern California, and PENG LIU, University of California-Berkeley--Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China's Housing Market

SHANZI KE, MING HE, Hunan University, and YAN SONG, University of North Carolina-Chapel Hill--The Determinants of Urban Land Price in the Newly Formed Markets --A Cross Sectional Analysis of Chinese Cities

JIANPING MEI, Cheung Kong Graduate School of Business, and YINXUE CAO--Valuation of Real Estate Stocks in the China Equity Market

Discussants: GARY PAINTER, University of Southern California
MAN CHO, KDI School
SIMON FIRESTONE, University of California- Berkeley
KERRY VANDELL, University of California-Irvine


Jan. 6, 10:15 am
ACES

Public and Military Procurement under Autocracy and Democracy (D7, N4, P5)

Presiding: MARK HARRISON, University of Warwick and Hoover Institution, Stanford University

CHRISTINA GATHMANN, Hoover Institution, Stanford University, and HENNING HILLMANN, Stanford University--From Privateers to Navy: How Sea Power Became a Public Good

JARI ELORANTA, Appalachian State University, and MARK WILSON, University of North Carolina-Charlotte--The Political Economy of Military Procurement in the West before the Second World War

MARK HARRISON, University of Warwick and Hoover Institution, Stanford University, and ANDREI MARKEVICH, University of Warwick--Quantity Versus Quality in Soviet Military Procurement under Stalin

ARIANE LAMBERT-MOGILIANSKY, Centere d'Enseignement et de Recherche, Ecole Nationale des Ponts et Chaussees, Paris, and KONSTANTIN SONIN, New Economic School, Moscow--The Collusive Market-Sharing and Corruption in Procurement

Discussants: ROBERT HIGGS, The Independent Institute
JAMES ROBINSON, Harvard University


Jan. 6, 10:15 am
AFEE

Learning and Organizations (B5)

Presiding: PHILIP A. O'HARA, Curtin University

NATHALIE LAZARIC, University of Nice--Are Routines Solely Reducible to Cognitive Automatisms? Inside the Cognitive Black Box and Beyond

DAVID CAYLA, University Pantheon-Sorbonne and INSEEC Business School--Organizational Learning: A Process Between Equilibrium and Evolution

SEBASTIEN GALANTI, University of Paris X Nanterre--Are Institutions Rules, Or What Makes Rules Work?

GERO HOCKER and WOLFRAM ELSNER, University of Bremen--Simple and Complex Organizational Forms: Markets, Hierarchies, and Networks in an Organizational Triangle

PAVEL O. LUKSHA, University of Hertfordshire and Russian Academy of Sciences--How Firms Help to Construct Their Environments: Cases and Invariants

Discussant: WILFRED DOLFSMA, University of Groningen


Jan. 6, 10:15 am
ASGE

Access to the American Dream: Strategies To Make Higher Education More Affordable (I2)

Presiding: JANOS HORVATH, Budapest University of Economic Sciences

DAVID MUSTARD, University of Georgia--Merit Aid and Sorting: The Effect of HOPE-Style Scholarships on College Stratification by Ability and Race

BRIDGET LONG, Harvard University--How Needy are You? The Financial Incentives Created by the Student Financial Aid System

BURTON WEISBROD, Northwestern University, and JEFF BALLOU, Northeastern University--Higher Education Tuition Policy: How and Why Do Publics, Nonprofits, and For-Profits Compare

MICHELLE REININGER, Northwestern University--Effects of Community College Attendance on the Probability of College Graduation

Discussants: CATHARINE HILL, Vassar College
FERNANDO LOZANO, Pomona College


Jan. 6, 10:15 am
CS

The Rise of Bourgeois Society: Urbanization, Education and Marriage

Presiding: ROBERT MARGO, Boston University

DEIRDRE MCCLOSKEY, University of Illinois-Chicago--Bourgeois Towns: How Capitalism Became Ethical, 1600-1648

MARINA ADSHADE, Dalhousie University, and BROOKS KAISER, Gettysburg College--The Origin of the Institutions of Marriage

LATIKA CHAUDHARY, Stanford University--Fiscal Taxation and Education Development: Evidence from British India

SUN GO and PETER LINDERT, University of California-Davis--The Curious Dawn of American Public Schools

Discussants: GARY RICHARDSON, University of California-Irvine
MATTHEW BAKER, Hunter College, City University of New York
ROBERT MARGO, Boston University
ILYANA KUZIEMKO, Princeton University


Jan. 6, 10:15 am
ES

Macro Factors in Asset Markets (G1)

Presiding: LUTZ KILIAN, University of Michigan

PETER C. B. PHILLIPS, Yale University, YANGRU WU, Rutgers University, and JUN YU, Singapore Management University--Explosive Behavior and the Nasdaq Bubble in the 1990s: When Did Irrational Exuberance Escalate Asset Values?

DAVID N. DEJONG, University of Pittsburgh, and EMILIO ESPINO, Universidad Di Tella--The Cyclical Behavior of Equity Turnover in Financial Markets

FRANCIS X. DIEBOLD, University of Pennsylvania, and KAMIL YILMAZ, Koc University--Stock Market Volatility and Macroeconomic Fundamentals

LUTZ KILIAN, University of Michigan and CEPR, and CHEOLBEOM PARK, National University of Singapore--The Impact of Oil Price Shocks on the U.S. Stock Market


Jan. 6, 10:15 am
ES

Experimental Economics (C9)

Presiding: ALVIN E. ROTH, Harvard University

R. MARK ISAAC, SVETLANA PEVNITSKAYA, Florida State University, and KURT SCHNIER, University of Rhode Island--Bidder Behavior in Sealed Bid Auctions Where the Number of Bidders is Unknown

JUERGEN BRACHT, University of Aberdeen, and NICK FELTOVICH, University of Houston--An Experimental Study Of Information Mechanisms

JOHN DUFFY and JACK OCHS, University of Pittsburgh--Equilibrium Selection in Entry Games: An Experimental Study

ATTILA AMBRUS, Harvard University, and PARAG PATHAK, Harvard Society of Fellows--Cooperation over Finite Horizons: A Theory And Experiments

JASMINA ARIFOVIC, Simon Fraser University, and JOHN LEDYARD, California Institute of Technology--Computational Mechanism Design and Call Markets


Jan. 6, 10:15 am
ES

International Capital Flows (F3)

Presiding: BENT SORENSEN, University of Houston

JAEWOO LEE, International Monetary Fund--Option Pricing Approach To International Reserves

NICOLAS COEURDACIER, ESSEC Business School, ROBERT KOLLMANN, ECARES, Université Libre de Bruxelles and CEPR, and PHILIPPE MARTIN, Université de Paris I, Paris School of Economics and CEPR--International Portfolios with Demand and Supply Shocks

VADYM VOLOSOVYCH, Florida Atlantic University--Measuring Financial Market Integration Over the Long Run: Is there a U-shape?

BENT SORENSEN, University of Houston--Why Are Capital Flows between Regions So Different from Capital Flows

Discussants: BETTY DANIEL, State University of New York
LAURA ALFARO, Harvard Business School
TIMOTHY CHUE, Hong Kong Polytechnic University
DAVID COOK, Hong Kong University of Science & Technology


Jan. 6, 10:15 am
ES

Unemployment (J6)

Presiding: CHRISTIAN HAEFKE, Institute for Advanced Studies, Vienna

MONIQUE EBELL, Humboldt University of Berlin--Resurrecting the Extensive Margin

NICOLAS PETROSKY-NADEAU, UQAM, CIRPÉE--The Macroeconomic Dynamics of Labor and Capital Market Imperfections

DAMBA LKHAGVASUREN, Northwestern University--Big Locational Differences in Unemployment Despite High Labor Mobility

CHRISTIAN HAEFKE, Institute for Advanced Studies, Vienna, MARCUS SONNTAG, University of Bonn, and THIJS VAN RENS, CREI and Universitat Pompeu Fabra--Wage Rigidity and Job Creation

Discussants: BJOERN BRUEGEMANN, Yale University
ADRIANO RAMPINI, Duke University
JOHN KENNAN, University of Wisconsin Madison
IOURII MANOVSKII, University of Pennsylvania


Jan. 6, 10:15 am
ES

Heterogeneous Information in Macroeconomics (E0)

Presiding: GEORGE-MARIOS ANGELETOS, Massachusetts Institute of Technology

MIRKO WIEDERHOLT, Northwestern University, and BARTOSZ MACKOWIAK, European Central Bank--Macroeconomic Dynamics under Rational Inattention

GIACOMO RONDINA, University of California-San Diego--Incomplete Information and Informative Pricing: Theory and Application

GEORGE-MARIOS ANGELETOS, Massachusetts Institute of Technology, and ALESSANDRO PAVAN, Northwestern University--Policy in Economies with Dispersed Information

PONPOJE PORAPOKKARM, and ERIC R. YOUNG, University of Virginia--Information Heterogeneity in the Macroeconomy


Jan. 6, 10:15 am
ES

Microeconometrics: Identification and Estimation (C3)

Presiding: EDWARD VYTLACIL, Columbia University

SHAKEEB KHAN, Duke University, and ELIE TAMER, Northwestern University--Irregular Identification, Support Conditions and Inverse Weight Estimation

BRYAN S. GRAHAM and JAMES L. POWELL, University of California-Berkeley--Panel Data and Correlated Heterogeneity

YOICHI ARAI and HIDEHIKO ICHIMURA, University of Tokyo--Program Evaluation with Continuous Treatment under Monotonicity Restriction

ANDRES ARADILLAS-LOPEZ, Princeton University, and ELIE TAMER, Northwestern University--Identification Power of Rationality in Simple Games


Jan. 6, 10:15 am
HERO

Understanding Socioeconomic Gradients in Health (I1, I3)

Presiding: DARIUS LAKDAWALLA, RAND Corporation and National Bureau of Economic Research

DANA GOLDMAN, RAND Corporation and National Bureau of Economic Research, and JAMES P. SMITH, RAND Corporation--Trends in the Health Returns to Schooling

AMITABH CHANDRA, Harvard University and National Bureau of Economic Research, and JONATHAN SKINNER, Dartmouth College and National Bureau of Economic Research--Who You Are and Where You Live: Socioeconomic Gradients and the Geography of Mortality

DAVID CUTLER, Harvard University and National Bureau of Economic Research, and ADRIANA LLERAS-MUNEY, Princeton University and National Bureau of Economic Research--The Education Gradient in Disability

ANGUS DEATON, Princeton University and National Bureau of Economic Research-- Health, Happiness, Aging, and Income Around the World

Discussants: TOMAS PHILIPSON, University of Chicago and National Bureau of Economic Research
DARIUS LAKDAWALLA, RAND Corporation and National Bureau of Economic Research
VIVIAN HO, Rice University


Jan. 6, 10:15 am
IEFS

The Economics of International Trade Agreements

Presiding: MIKHAIL KLIMENKO, Georgia Institute of Technology

ERIC W. BOND, Vanderbilt University--Dynamics of Trade Agreements (Presidential Address)

GIOVANNI MAGGI, Princeton University, and ROBERT W. STAIGER, Stanford University--On the Role and Design of Dispute Settlement Procedures in International Trade Agreements

SERGEI GURIEV, New Economic School, and MIKHAIL KLIMENKO, Georgia Institute of Technology--Duration and Term Structure of Trade Agreements

SCOTT BAIER, Clemson University, and JEFFREY BERGSTRAND, University of Notre Dame--Estimating the Effects of Free Trade Agreements in Trade Flows Using Matching Econometrics

Discussants: MIKHAIL KLIMENKO, Georgia Institute of Technology
ERIC W. BOND, Vanderbilt University
ARNAUD COSTINOT, University of California-San Diego
DANIEL MILLIMET, Southern Methodist University


Jan. 6, 10:15 am
LERA

Regulating Occupations

Presiding: KATHRYN SHAW, Stanford University

MORRIS M. KLEINER, University of Minnesota, and ALAN B. KRUEGER, Princeton University--The Prevalence and Effects of Occupational Licensing

V. JOSEPH HOTZ, University of California-Los Angeles, and MO XIAO, University of Arizona--The Impact of Minimum Quality Standards on Firm Entry, Exit and Product Quality: The Case of the Child Care Market

MARC LAW, University of Vermont, and MINDY MARKS, University of California-Riverside--Effects Of Occupational Licensing Laws On Minorities: Evidence From the Progressive Era

ROBERT J. THORNTON and EDWARD J. TIMMONS, Lehigh University--Taking Too Much Off the Top? The Effects of State Licensing on Barbers' Earnings

Discussant: ADRIANA KUGLER, University of Houston
CHARLES WHEELAN, University of Chicago


Jan. 6, 10:15 am
LERA

The ISG (Mittal)/Steel Worker Partnership:Assessing the First FiveYears

Presiding: PAUL CLARK and ALEX COLVIN, Pennsylvania State University

DAVE MCCALL, United Steelworkers of America
WILLIAM BOEHLER, Mittal Steel USA
ROBERT MCKERSIE, Massachusetts Institute of Technology
TOM WOOD, Mittal Steel USA

Jan. 6, 10:15 am
LERA

Refereed Papers -- Work and Employment Relations; Collective Bargaining and Labor and Employment Law

Presiding: HOWARD STANGER, Canisius College

STEVE MCMILLAN and DEBRA L. CASEY, Pennsylvania State University-Abington--Mapping the "Invisible Colleges" of Labor Union and Collective Bargaining Research

MICHAEL LEROY and PETER FEUILLE, University of Illinois at Urbana-Champaign--An Enigma in a Puzzle: Empirical Analysis of Court Review of Employment Arbitration Awards

MALLIKA BANJEREE and PAMELA TOLBERT, Cornell University--Differences Among Nonstandard Workers and Perceived Job Security and Work Attitudes of Standard Employees

ROSE BATT and MALLIKA BANJEREE, Cornell University--How Relevant is the Field of Human Resource Studies for the 21st Century

JOHN DENCKER, University of Illinois-Urbana-Champaign--Layoffs in Structural-Historical Perspective


Jan. 6, 10:15 am
NEA

Katrina: Reconstruction and Redevelopment (R1)

Presiding: WILLENE A. JOHNSON, Komaza, Inc.

KHALIL TIAN SHAHYD, University of Delaware--Capacity Development in Post-Katrina New Orleans: An International Aid Perspective

DONALD ANDREWS, SUNG C. NO, and ASHAGRE YIGLETU, Southern University and A&M College--The Influences of Socio-Economic Factors on Educational Performance for Elementary School Children in Louisiana with a Focus on New Orleans

VICTOR UKPOLO, SUNG C. NO, and ASHAGRE YIGLETU, Southern University and A&M College--Dynamic Impact Analysis of Socio-Economic Factors of Violent Crime: The Case of New Orleans?

RICHARD L. MCCLINE, Southern University and A&M College--Environmental Turbulence and Entrepreneurial Survival: Lessons Learned From Case Studies of Small and Disadvantaged Businesses in a Post Katrina Environment

Discussants: WILLENE A. JOHNSON, Komaza, Inc.
SUSAN WILLIAMS MCELROY, University of Texas-Dallas
PATRICK MASON, Florida State University
RALPH D. CHRISTY, Cornell University


Jan. 6, 10:15 am
PSSI

The Role of Conflict and Coercion in Establishing Institutions (D7)

Presiding: WALTER ISARD, Cornell University

MATTHEW O. JACKSON, Stanford University, and MASSIMO MORELLI, Ohio State University--Endogenous Power and War

RAUL CARUSO, Università Cattolica del Sacro Cuore--Conflict and the Establishing of Endogenous Institutions

STEVEN COISSARD, Universite Pierre Mendes France, Economic Intelligence and National Security

BENJAMIN JONES, Northwestern University, and BENJAMIN OLKEN, Harvard University--Hit or Miss? The Effect of Assassinations on Institutions and War

Discussants: CLAUDE BERREBI, Rand Corporation
CARLOS SEIGLIE, Rutgers University


Jan. 6, 10:15 am
SGE

Housing and Housing Services in Federal Statistics

Presiding: PATRICIA RUGGLES, National Academy of Sciences

NICOLE MAYERHAUSER and DENISE MCBRIDE, U.S. Bureau of Economic Analysis--The Treatment of Housing in the National Income and Product Accounts

THESIA I. GARNER, U.S. Bureau of Labor Statistics, and SYLVESTER YOUNG, ILO--Housing Services in Consumption with a Focus on the U.S.

KATHLEEN SHORT and AMY O'HARA, U.S. Census Bureau--Valuing Housing in Measures of Household Income and Poverty

Discussants: STEPHEN MALPEZZI, University of Wisconsin
JOHN GREENLEES, U.S. Bureau of Labor Statistics


Jan. 6, 10:15 am
URPE

Heterodox Microeconomics (D0)

Presiding: FREDERIC LEE, University of Missouri --Kansas City

GILBERT SKILLMAN, Wesleyan University--The Evolutionary Robustness of Strategic Cooperation

FRANK THOMPSON and BLAKE HELLER, University of Michigan-Ann Arbor--Intergenerational Equity and Sustainability

CYRUS BINA, University of Minnesota-Morris, and CHUCK DAVIS, Indiana University--Technology, Skill Formation, and Universality of Labor Contingency

WILLIAM GANLEY, Buffalo State College--Micro-enterprises and Heterodox Economic Theories

Discussants: FREDERIC LEE, University of Missouri-Kansas City
ANN DAVIS, Marist College


Jan. 6, 12:30 pm
AEA

Complexity and Dynamics in Macroeconomics: Alternatives to the DSGE Models

Presiding: DAVID C. COLANDER, Middlebury College

DAVID COLANDER, Middlebury College, ALAN KIRMAN, GREQAM, Marseille, France, PETER HOWITT, Brown University, AXEL LEIJONHUFVUD, University of California-Los Angeles and University of Trento, and PERRY MEHRLING, Barnard College--The Complexity Approach to Macroeconomics

WILLIAM BROCK, STEVEN DURLAUF, University of Wisconsin-Madison, and GIACOMO RONDINA, University of California-San Diego--New Approaches to Macroeconomic Policy Evaluation

BLAKE LEBARON, Brandeis University, and LEIGH TESFATSION, Iowa State University--Modeling Macroeconomies as Open-Ended Dynamic Systems of Interacting Agents

KEVIN HOOVER, University of California-Davis, KATARINA JUSELIUS, and SOREN JOHANSEN, University of Copenhagen--Really Taking the Model to the Data

Discussant: STEPHEN TURNOVSKY, University of Washington
DUNCAN FOLEY, New School for Social Research


Jan. 6, 12:30 pm
AEA

Information Aggregation by Voting

Presiding: ROGER MYERSON, University of Chicago

JACOB K. GOEREE and THOMAS R. PALFREY, Caltech--Equilibrium Selection and the Condorcet Jury Problem

DINO GERARDI, Yale University, and LEEAT YARIV, Caltech--Costly Expertise

MARCO BATTAGLINI, Princeton University, REBECCA MORTON, New York University, and THOMAS R. PALFREY, Caltech--The Swing Voter's Curse in the Laboratory with Many Voters

Discussant: DAVID AUSTEN-SMITH, Northwestern University


Jan. 6, 12:30 pm
AEA

Property Rights in Transition (P4)

Presiding: EKATERINA ZHURAVSKAYA, New Economic School

SERGEI GURIEV and KONSTANTIN SONIN, New Economic School--Dictators, Oligarchs, and Protection of Property Rights

IRINA DENISOVA, MARKUS ELLER, CEFIR, TIMOTHY FRYE, University of Columbia, and EKATERINA ZHURAVSKAYA, New Economic School--Who Wants to Revise Privatization and Why? Evidence from 28 Post-Communist Countries

DANIEL BERKOWITZ and YADVIGA SEMIKOLENOVA--Privatization with Government Control: Evidence from the Russian Oil Sector

ARTYOM DURNEV, McGill University, and LARRY FAUVER, University of Tennessee--Stealing from Thieves: Firm Governance, Transparency, and Shareholder Wealth When States are Predatory

Discussants: JULIAN ATANASSOV, University of Oregon
WILLIAM L. MEGGINSON, University of Oklahoma
ANNETTE POULSEN, University of Georgia
STERGIOS SKAPERDAS, University of California-Irvine


Jan. 6, 12:30 pm
AEA

Economic Effects of Natural Disasters (Q5)

Presiding: DEAN YANG, University of Michigan

CLAUS PÖRTNER, University of Washington--Gone with the Wind? Hurricane Risk, Fertility and Education

DEAN YANG, University of Michigan--Coping With Disaster: The Impact of Hurricanes on International Financial Flows, 1970-2002

SURESH DE MEL, University of Peradeniya, DAVID MCKenzie, World Bank, and CHRISTOPHER WOODRUFF, University of California-San Diego--Determinants of Sri Lankan Microenterprise Recovery after the Tsunami

ELIZABETH FRANKENBERG, University of California-Los Angeles, JED FRIEDMAN, World Bank, and THOMAS GILLESPIE, University of California-Los Angeles, et al--Mental Health in the Aftermath of the Tsunami: The Role of Family Loss and Exposure to Trauma

Discussants: FRANCIS ANTMAN, University of Colorado-Boulder
VICTOR MATHESON, College of the Holy Cross
RANDALL KUHN, University of Denver
DAVID MCKENZIE, World Bank


Jan. 6, 12:30 pm
AEA

Determinants of Financial Decision Making among the Poor: Risk, Impatience
and Trust (D0)

Presiding: ERIN KRUPKA, Institute for the Study of Labor (IZA)

ERIN KRUPKA, Institute for the Study of Labor (IZA--The Trouble With (Subjective) Discount Rates: What Do Patterns of Impatience among the Very Poor Tell Us?

EMILY HAISLEY, GEORGE LOEWENSTEIN, and ROMEL MOSTAFA, Carnegie Mellon University--Loving a Bad Bet: Factors That Induce Low Income Individuals to Purchase State Lottery Tickets

PAIGE MARTA SKIBA, Vanderbilt University, and JEREMY TOBACMAN, University of Oxford--Measuring the Individual-Level Effects of Access to Credit: Evidence from Payday Loans

CRYSTAL HALL and ELDAR SHAFIR, Princeton University--Trust and Decision Making in the Context of Poverty

Discussants: ROBERTO WEBER, Carnegie Mellon University
MELVIN STEPHENS JR., Carnegie Mellon University
RAGAN PETRIE, Georgia State University


Jan. 6, 12:30 pm
AEA

People and Growth: Demography, Human Capital, and Economic Growth (O1)

Presiding: JOHN SEATER, North Carolina State University

ASHLEY LESTER, Brown University--When and Why Did Technical Change Become Skill Biased?

MAURIZIO IACOPETTA, Georgia Institute of Technology--Time Allocation between Innovation and Education

MATTHIAS DOEPKE, University of California-Los Angeles, and MICHELE TERTILT, Stanford University--Women's Liberation: What's in It for Men?

MICHAEL BAR, San Francisco State University, and OKSANA LEUKHINA, University of North Carolina--The Role of Adult Mortality in the Transmission of Knowledge

Discussants: PIETRO PERETTO, Duke University
MICHELE BOLDRIN, University of Washington-St. Louis
SIMON JOHNSON, Massachusetts Institute of Technology
DAVID WEIL, Brown University


Jan. 6, 12:30 pm
AEA

Measuring the Value of a Statistical Life Using Revealed Preferences (J1)

Presiding: PETER KOOREMAN, Tilburg University

ORLEY ASHENFELTER, Princeton University, and MICHAEL GREENSTONE, Massachusetts Institute of Technology--Recent Changes in Mandated Speed and theValue of a Statistical Life

JAMES HAMMIT, Harvard University, JIN-TAN LIU, and JIN-LONG LIU, National Central University--Survival is Not a Luxury Good: The Increasing Value of a Statistical Life

KATIE CARMAN and PETER KOOREMAN, Tilburg University--Flu Shots, Mammograms, and the Value of a Statistical Life

CARLOS DOBKIN, University of California-Santa Cruz, and MICHAEL GREENSTONE, Massachusetts Institute of Technology--Estimates of the Value of a Statistical Life from Military Reenlistments

Discussants: MAUREEN CROPPER, University of Maryland
JOSEPH ALDY, Resources for the Future
DAVID CUTLER, Harvard University
KELLY BEDARD, University of California-Santa Barbara


Jan. 6, 12:30 pm
AEA

Innovation, Productivity, and Firm Behavior (D2)

Presiding: RALF MARTIN, London School of Economics

NICK BLOOM, Stanford University, MIRKO DRACA, and JOHN VAN REENEN, London School of Economics--Trade Induced Technical Change? The Impact of Chinese Trade on IT in European and U.S. Firms

JORDI JAUMANDREU, Universidad Carlos III, Spain, and JACQUES MAIRESSE, CREST, France and NBER--Using Price and Demand Information to Identify Production Functions

ULRICH DORASZELSKI, Harvard University and CEPR, and JORDI JAUMANDREU, Universidad Carlos III and CEPR--R&D and Productivity: Estimating Production Functions When Productivity is Endogenous

BRUNO CASSIMAN, IESE Business School and University of Leuven, ELENA GOLOVKO, IESE Business School, and DAVID GREENSTREET, University of Oxford--Firm Innovation, Productivity, and Trade

Discussants: DAVID GREENSTREET, University of Oxford
SHARON BELENZON, University of Oxford
DANIEL ACKERBERG, University of California-Los Angeles
JACQUES MAIRESSE, CREST, France


Jan. 6, 12:30 pm
AEA

Technological Change and Stock Price Dynamics G1)

Presiding: PIETRO VERONESI, University of Chicago

BOYAN JOVANOVIC, New York University--Investment Options and the Business Cycle

JOHN LAITNER and DMITRIY STOLYAROV, University of Michigan--Pay the Giants: Complementary Ideas and the Stock Market

MARIANA MAZZUCATO, Open University, and MASSIMILIANO TANCIONI, University of Rome--Stock Price Volatility and Patent Citation Dynamics: The Case of the Pharmaceutical Industry

LUBOS PASTOR and PIETRO VERONESI, University of Chicago--Technological Revolutions and Stock Prices

Discussants: JOHN HEATON, University of Chicago
DIEGO COMIN, New York University
MICHAEL BRANDT, Duke University
SREEDHAR BHARATH, University of Michigan-Ann Arbor


Jan. 6, 12:30 pm
AEA

Macroeconomic Implications of Risk Sharing (G1)

Presiding: BORJA LARRAIN, Universidad Catolica de Chile

MARIA GIDUSKOVA, Federal Reserve Bank of Boston, and BORJA LARRAIN, Universidad Catolica de Chile--International Risk-Taking, Volatility, and Consumption Growth

MIKLOS KOREN, Princeton University--Financial Globalization, Portfolio Diversification, and the Pattern of International Trade

PAUL WILLEN, Federal Reserve Bank of Boston--Insuring Human Capital Risk: A Life-Cycle Perspective

Discussants: KAREN LEWIS, University of Pennsylvania
SEBNEM KALEMLI-OZCAN, University of Houston
ADAM SZEIDL, University of California-Berkeley
ADRIEN VERDELHAN, Boston University


Jan. 6, 12:30 pm
AEA

Aging and Financial Markets (J1)

Presiding: JOHN DRISCOLL, Federal Reserve Board

SUMIT AGARWAL, Federal Reserve Bank of Chicago, JOHN DRISCOLL, Federal Reserve Board, XAVIER GABAIX, New York University, Princeton University and NBER, and DAVID LAIBSON, Harvard University and NBER--The Age of Reason: Financial Decisions over the Lifecycle

ANNAMARIA LUSARDI, Dartmouth College--Financial Literacy, Aging, and Retirement Wellbeing

ANTHONY SAUNDERS, New York University, BARRY SCHOLNICK, and NADIA MASSOUD, University of Alberta--Who Makes Credit Card Mistakes?

GEORGE KORNIOTIS, Federal Reserve Board, and ALOK KUMAR, University of Texas-Austin--Does Investment Skill Decline Due to Cognitive Aging or Improve with Experience?

Discussants: ERIK HURST, University of Chicago
STEFANO DELLAVIGNA, University of California-Berkeley
SOUPHALA CHOMSISENGPHET, Office of the Comptroller of the Currency
VALERY POLKOVNICHENKO, University of Texas-Dallas


Jan. 6, 12:30 pm
AEA

Studying Risk Preferences in Natural and Lab Experiments: The Case of Deal or No Deal (D8)

Presiding: JUNGMIN LEE, Florida International University and IZA

GLENN HARRISON, University of Central Florida, STEFFEN ANDERSEN, Centre for Economic and Business Research, Denmark, ANABELA BOTELHO, University of Minho and NIMA, Portugal, MORTEN LAU, Durham University, UK, and ELISABET RUTSTROM, University of Central Florida--Dynamic Choice Behavior: International Evidence from a Natural Experiment

DANIEL MULINO, RICHARD SCHEELINGS, ROBERT BROOKS, and ROBERT FAFF, Monash University, Australia--Is a Dollar in the Hand Worth Two in a Lottery? Risk Aversion and Prospect Theory in Deal or No Deal

THIERRY POST, MARTIJN VAN DEN ASSEM, GUIDO BALTUSSEN, Erasmus University, The Netherlands --Framing of Risky Choice: Evidence across Different Versions of Deal or No Deal

CARY DECK, University of Arkansas-Fayetteville, JUNGMIN LEE, Florida International University and IZA, Germany, JAVIER REYES, University of Arkansas-Fayetteville--Explaing within Subject Risk Aversion Variation Using Psychological Measures of Risk Attitudes

Discussants: JOHN LIST, University of Chicago
SUSAN LAURY, Georgia State University
MORTEN LAU, Durham University, UK
JAVIER REYES, University of Arkansas-Fayetteville


Jan. 6, 12:30 pm
AEA

Twenty Years of the Survey of Income and Program Participation: Past,
Present and Future (J0)

Presiding: TIMOTHY SMEEDING, Syracuse Universtiy

JEFFREY LIEBMAN, Harvard University--The Lifetime Labor Supply of Low-Wage Workers

MARTHA STINSON, U.S. Census Bureau, JOHN ABOWD, Cornell University, GARY BENEDETTO, U.S. Census Bureau--The Covariance of Earnings and Hours Revisited

JAMES POTERBA, Massachusetts Institute of Technology, STEVEN VENTI, Dartmouth College, and DAVID WISE, Harvard University--The Effect of Demographic Change on Pension Participation and Pension Assets in the Future

BARBARA BUTRICA, Urban Institute, HOWARD IAMS, Social Security Administration, KAREN SMITH, and ERIC TODER, Urban Institute--Understanding the Impact of Pension Changes on the Retirement Prospects of Baby Boomers

Discussants: DAVID JOHNSON, U.S. Census Bureau
JOSEPH HOTZ, Duke University


Jan. 6, 12:30 pm
AFA

Investing in Hedge Funds and Hedge Fund Investments

Presiding: TARUN RAMADORAI, University of Oxford

DORON AVRAMOV, University of Maryland, ROBERT KOSOWSKI, Imperial College London, NARAYAN Y. NAIK, London Business School, and MELVYN TEO, Singapore Management University--Investing in Hedge Funds when Returns are Predictable

NICOLAS P.B. BOLLEN and ROBERT E. WHALEY, Vanderbilt University--Hedge Fund Risk Dynamics: Implications for Performance Appraisal

JOHN M. GRIFFIN and JIN XU, University of Texas-Austin--How Smart are the Smart Guys? A Unique View from Hedge Fund Stock Holdings

Discussants: LUIS VICEIRA, Harvard Business School
ANDREW PATTON, London School of Economics & Political Science
RUSSELL WERMERS, University of Maryland


Jan. 6, 12:30 pm
AFA

Financial Structure

Presiding: JOSHUA RAUH, University of Chicago

ULF AXELSON, Swedish Institute for Financial Research, TIM JENKINSON, University of Oxford, PER JOHAN STRÖMBERG, Swedish Institute for Financial Research, and MICHAEL S. WEISBACH, University of Illinois-Urbana-Champaign--The Financing of Large Buyouts: an Empirical Analysis

EFRAIM BENMELECH, Harvard University, and NITTAI BERGMAN, Massachusetts Institute of Technology--Collateral Pricing

IVO WELCH, Brown University--Common Flaws in Empirical Capital Structure Research

Discussants: STEVEN KAPLAN, University of Chicago
ADRIANO RAMPINI, DukeUniversity
MICHAEL ROBERTS, University of Pennsylvania


Jan. 6, 12:30 pm
AFA

Managerial Characteristics, Biases, and Corporate Decisions

Presiding: PAOLA SAPIENZA, Northwestern University

MARKUS GLASER, University of Mannheim, PHILIPP SCHÄFERS, WestLB, and MARTIN WEBER, University of Mannheim--Managerial Optimism and Corporate Investment: Is the CEO Alone Responsible for the Relation?

ULRIKE MALMENDIER, University of California-Berkeley and JOSHUA LERNER, Harvard Business School--With a Little Help from My (Random) Friends: Peer Effects and Early-Career Entrepreneurship at Harvard Business School

AMIT SERU, University of Michigan-Ann Arbor--Do Conglomerates Stifle Innovation?

Discussants: DAVID ROBINSON, Duke University
MORTEN SORENSEN, University of Chicago
DAVID MATSA, Northwestern University


Jan. 6, 12:30 pm
AFA

International Finance, Domestic Politics, and Access to Credit

Presiding: PETER HENRY, Stanford Graduate School of Business

VIRAL V. ACHARYA, London Business School, HYUN SONG SHIN, Princeton University, and TANJU YORULMAZER, Bank of England--Fire-Sale FDI

TODD A. GORMLEY, Washington University-St. Louis--Costly Information, Foreign Entry, and Credit Access

THIERRY TRESSEL , International Monetary Fund, and THIERRY VERDIER , Ecole Nationale des Ponts et Chaussées--Does Financial Globalization Discipline Politically Connected Firms?

GREGORY W. BROWN, LARRY W. CHAVIS, University of North Carolina-Chapel Hill and LEORA F. KLAPPER, World Bank--Accessing External Capital: Evidence from Challenging Business Environments

Discussants: GITA GOPINATH, Harvard University
ANDREY UKHOV, Indiana University-Bloomington
CRAIG BROWN, City University of New York, Baruch College
BRAHIMA COULIBALY, Government of the United States of America


Jan. 6, 12:30 pm
AFA

Information Frictions and International Finance

Presiding: LAURA VELDKAMP, New York University

ANNA PAVLOVA, London Business School, and ROBERTO RIGOBON, Massachusetts Institute of Technology--The Role of Portfolio Constraints in the International Propagation of Shocks

ITAY GOLDSTEIN, University of Pennsylvania, EMRE OZDENOREN, and KATHY ZHICHAO YUAN, University of Michigan-Ann Arbor--Information Aggregation in Currency Attacks

VASSILIOS DIMITRAKAS, INSEAD--Asset Pricing Implications of Investor Inertia

ALESSANDRO BEBER, University of Lausanne, FRANCIS BREEDON, University of London, and ANDREA BURASCHI, Imperial College London--Difference in Beliefs and Currency Options Markets

Discussants: WEI XIONG, Princeton University
PETER KONDOR, University of Chicago
SNEHAL BANERJEE, Northwestern University
TIM JOHNSON, London Business School


Jan. 6, 12:30 pm
AREUEA

Neighborhoods & Gentrification (R1)

Presiding: DANIEL P. MCMILLEN, University of Illinois-Chicago

STUART S. ROSENTHAL, Syracuse University, and STUART A. GABRIEL, University of California-Los Angeles--GSE Loan Purchases in Targeted Underserved Neighborhoods: Crowd Out or Market Completing

GEORGE GALSTER, Wayne State University, and PETER TATIAN, Urban Institute--Predictive Model of Neighborhood Gentrification

PAUL CARRILLO and ANTHONY YEZER, George Washington University--The Homeownership Rate Gap Across Segregated Neighborhoods

GARY V. ENGELHARDT and MICHAEL ERIKSEN, Syracuse University--What Are the Social Benefits of Home Ownership for the Poor? Evidence from a Field Experiment

Discussants: JEFFREY ZABEL, Tufts University
STEPHEN SHEPPARD, Williams College
NATHAN ANDERSON, University of Illinois-Chicago
EDWARD COULSON, Pennsylvania State University


Jan. 6, 12:30 pm
AREUEA

Housing Market Empirics (R3)

Presiding: MARK ANDREW, City University, UK

THOMAS DAVIDOFF, University of California-Berkeley--As the Nation's Multifamily Goes, So Goes Manhattan: Are Tightening Local Regulations Really to Blame for Reduced Coastal Housing Supply?

JOHN BENJAMIN, PETER CHINLOY, American University, and WILLIAM HARDIN, and ZHONGHUA (GEORGE) WU, Florida International University--Clientele Effects and Condo Conversions

ALBERT SAIZ, University of Pennsylvania--Immigrant Inflows, Native Mobility, and Housing Supply Elasticity

VINCENT YAO, LEN LIN, and ERIC ROSENBLATT, Fannie Mae--Spillover Effects of Foreclosure on Neighborhood Properties

Discussants: TIEN SING, National University of Singapore
SAM CHANDAN, Reis, Inc.
DOUGLAS KRUPKA, IZA
DAVID BRASINGTON, Louisiana State University


Jan. 6, 12:30 pm
AFEE

Development, Ecology, and Disembeddedness (O1)

Presiding: RICHARD V. ADKISSON, New Mexico State University

RICHARD L. BRINKMAN and JUNE E. BRINKMAN, Portland State University--Globalization and the Nation State: Dead or Alive

MARIO CIMOLI, United Nations' Economic Commission for Latin America and the Caribbean, James H. Street Latin American Scholar, and SEBASTIAN ROVIRA, United Nations Economic Commission for Latin America and the Caribbean--Elites and Structural Inertia: An Introductory Note on the Political Economy of Development

JOHN ADAMS, University of Virginia, and FRANK RAYMOND, Bellarmine University--Did Yunus Deserve the Nobel Prize: Microfinance or Macrofarce?

COLLEEN F. JOHNSON and JEFFERY L. JOHNSON, Eastern Oregon University--Human Beings as Commodities: Further Signs of a Disembedded Economy

DAPHNE GREENWOOD, University of Colorado-Colorado Springs, and RICHARD P. F. HOLT, Southern Oregon University--Institutional and Ecological Economics: The Role of Technology and Institutions

Discussant: BARBARA WIENS-TUERS, Pennsylvania State University-Altoona


Jan. 6, 12:30 pm
ASE

Debt, Trade, and Regional Inequality (F1)

Presiding: STEVEN PRESSMAN, Monmouth University

STEVEN PRESSMAN and ROBERT H. SCOTT, III, Monmouth University--Consumer Debt Requires Rethinking Income Inequality

ERIK E. GUZIK, University of Science and Arts of Oklahoma--U.S. Income Disparity, Trade, and Trade Policy

MICHAEL J. HICKS, Ball State University--Wal-Mart's Impact on Regional Income Inequality

KELLIN CHANDLER STANFIELD, DePauw University--The Coincidence of Regional and Inter-group Disparity in Mexico: A Stratification Economics Perspective

Discussant: MARTHA STARR, American University


Jan. 6, 12:30 pm
AERE

Evaluating Environmental Policies (Q5)

Presiding: ANTONIO BENTO, Cornell University

ANNA ALBERINI, University of Maryland, and ANTONIO BENTO, Cornell University--The Effects of the Federal Brownfield Tax Incentive

SUMEET GULATI, University of British Columbia--Evaluating the Incentives for Hybrid Vehicles

LEA KOSNIK, University of Missouri-St. Louis--Balancing Environmental Protection and Energy Production in the Federal Hydropower Licensing Process

ELLEN HANAK, Public Policy Institute of California--Building behind Levees: Public Policy and Housing Prices in the Flood Zone

Discussants: LUCAS DAVIS, University of Michigan
MAXIMILLIAN AUFHAMMER, University of California-Berkeley
JOHN TSCHIRHART, University of Wyoming
JAREN POPE, Virginia Polytechnic Institute


Jan. 6, 12:30 pm
ES

Empirical Industrial Organization (L1)

Presiding: JULIE MORTIMER, Harvard University

ADAM COPELAND, U.S. Bureau of Economic Analysis--The Dynamics of Automobile Expenditures

JIAWEI CHEN, University of California-Irvine, SUSANNA ESTEBAN, Universidad Carlos III de Madrid, and MATTHEW SHUM, Johns Hopkins University--How Much Competition is a Secondary Market?

PATRICK BAJARI, University of Minnesota, JEREMY T. FOX, University of Chicago, and STEPHEN RYAN, Massachusetts Institute of Technology--Linear Regression Estimation of Discrete Choice Models with Nonparametric Distributions of Random Coefficients

CHRIS CONLON, Yale University, and JULIE MORTIMER, Harvard University--Demand Estimation Under Incomplete Product Availability


Jan. 6, 12:30 pm
ES

Informal Contractual Arrangements in Low-Income Countries (O1)

Presiding: CHRISTOPHER UDRY, Yale University

INGELA ALGER, Boston College, and JÖRGEN WEIBULL, Stockholm School of Economics--The Fetters of the Sib

KRIPA FREITAS, Northwestern University--The Indian Caste System as a Means of Contract Enforcement

FIKRET ADAMAN, OYA PINAR ARDIC, Bogazici University, and DIDEM TUZEMEN, University of Maryland--Network Effects in Risk Sharing and Credit Market Access: Evidence from Istanbul

MARC BELLEMARE, Duke University, and XIAOYONG ZHENG, North Carolina State University--Moral Hazard, Heterogeneous Agents and Imperfect Monitoring: A Structural Approach

Discussants: RACHEL KRANTON, University of Maryland
TIMOTHY GUINNANE, Yale University
MARCEL FAFCHAMPS, Oxford University
CHRISTOPHER UDRY, Yale University


Jan. 6, 12:30 pm
ES

Information Dynamics and Incentives (D8)

Presiding: MARCO OTTAVIANI, London Business School

ALEXANDER K. KOCH, Royal Holloway, University of London, and IZA, JULIA NAFZIGER, ECARES, Universite Libre de Bruxelles--Job Assignments under Moral Hazard: The Peter Principle Revisited

JAMES PECK and HUANXING YANG, Ohio State University--Investment Cycles, Strategic Delay, and Self-Correcting Cascades

FINN CHRISTENSEN, Towson University-- Searching for a Partner in the Presence of Persistent Uncertainty

MARCO OTTAVIANI, London Business School, and ROMAN INDERST, University of Frankfurt--Mis)selling through Agents


Jan. 6, 12:30 pm
ES

Corporate Control and Governance (G3)

Presiding: MILTON HARRIS, University of Chicago

DALIDA KADYRZHANOVA, University of Maryland, and MATTHEW RHODES-KROPF--Columbia University, Concentrating on Governance

DANIEL FERREIRA, London School of Economics, EMANUEL ORNELAS, and JOHN L. TURNER, University of Georgia--Unbundling Ownership and Control

MILTON HARRIS, University of Chicago, and ARTUR RAVIV, Northwestern University--Control of Corporate Decisions: Shareholders vs. Management


Jan. 6, 12:30 pm
ES

Monetary, Fiscal and Exchange Rate Policy (F3)

Presiding: VASCO CURDIA, Federal Reserve Bank of New York

MICHAEL KUMHOF and DOUGLAS LAXTON, International Monetary Fund--A Party without a Hangover? On the Effects of U.S. Government Deficits

JUERGEN VON HAGEN, University of Bonn, KERSTIN BERNOTH, Dutch Central Bank, and LUDGER SCHUKNECHT, European Central Bank--Sovereign Risk Premiums in the European Bond Market

SEOK GIL PARK, Indiana University--Solving Endogeneity in Assessing the Efficacy of Foreign Exchange Market Interventions

VASCO CURDIA, Federal Reserve Bank of New York--Optimal Monetary Policy under Sudden Stops

Discussants: ANDREA FERRERO, Federal Reserve Bank of New York
VASCO CURDIA, Federal Reserve Bank of New York
JUERGEN VON HAGEN, University of Bonn
MICHAEL KUMHOF, International Monetary Fund


Jan. 6, 12:30 pm
ES

Adverse Selection, Herding, and Reputations (D8)

Presiding: EDWARD SCHLEE, Arizona State University

ARCHISHMAN CHAKRABORTY, Baruch College, SIMON GERVAIS, Duke University, and BILGE YILMAZ, University of Pennsylvania--Security Design in Initial Public Offerings

HELIOS HERRERA, ITAM & Columbia University, and JOHANNES HORNER, Northwestern University--Investment Herds

TIANXI WANG, London School of Economics--The Reputation of an Organization and Its Dynamics

HECTOR CHADE and EDWARD SCHLEE, Arizona State University--Optimal Insurance under Adverse Selection

Discussants: CHRISTINE PARLOUR, University of California-Berkeley
STEVE TADELIS, Stanford University
GEORGE MAILATH, Princeton University
STEVEN MATTHEWS, University of Pennsylvania


Jan. 6, 12:30 pm
LERA

Organizational Change in Unions

Presiding: ADRIENNE EATON, Rutgers University

ADRIENNE EATON, JANICE FINE, ALLISON PORTER, and SAUL RUBINSTEIN, Rutgers University--Seeing Purple: Organizational Change in SEIU

JOSE F. ALVAREZ, Jose F. Alvarez & Associates--An Appreciative Approach to Organizational Change in Unions

SALLY M. ALVAREZ, Cornell University, ILR Extension--Learning to Lead Change: Using Change Theory to Develop Union Leaders

SUE SCHURMAN, Rutgers University--Creating Organizational Change through Leadership Education: The AFL-CIO State and Local Labor Leadership Institute


Jan. 6, 12:30 pm
LERA

The Changing Global Context of Labor Laws and their Reinforcement

Presiding: ALEX COLVIN, Penn State University

MARK ANNER, Pennsylvania State University--Meeting the Challenges of Industrial Restructuring: Labor Reform and Enforcement in Latin America

SAMANTHA GUNAWARDANA, University of Melbourne--Labor Rights and Enforcement in the Sri Lankan Export Processing Zone

OWEN DARBISHIRE, Saïd Business School and Pembroke College, University of Oxford, and ALEXANDER COLVIN, Pennsylvania State University--Labor Law in the Anglo-American Countries after Thatcher and Reagan

Discussants: SANFORD JACOBY, University of California-Los Angeles


Jan. 6, 12:30 pm
URPE/IAFFE

Gender and Development (O1)

Presiding: LOURDES BENERIA, Cornell University

RAMYA M. VIJAYA, Richard Stockton University--Health Care Outsourcing: Implications for the Host Economy

ALYS WILLMAN-NAVARRO, New School University--Safety First, Then Condoms: Commercial Sex, Risky Behavior and the Spread of HIV/AIDS in Managua, Nicaragua

MWANGI WA GITHINJI, University of Massachusetts-Amherst--Are Poverty Processes the Same? The Determinants of Poverty Among Female Headed Households in Rural Kenya

JANET SPITZ, ALISON KONRAD, and ADAM CRESKO, College of St. Rose--Gender Development Consequences of Business Globalization

Discussants: STEPHANIE SEGUINO, University of Vermont
LINDA LUCAS, University of South Florida