11th Annual Macroeconomic Policy Research Workshop at MNB: Microeconomic Behavior and its Macroeconomic Implications During the Financial Crisis
On September 6–7, 2012, the Magyar Nemzeti Bank hosted the 11th Macroeconomic Research Workshop organized jointly with the CEPR. The title of the workshop was ‘Microeconomic Behavior and its Macroeconomic Implications During the Financial Crisis’. The event was highly topical, as the policymakers try to understand the impact of the financial crisis on different economic agents and tailor their response to it. The keynote speakers of the event were professors Christopher D. Carroll (Johns Hopkins University) and Matthew D. Shapiro (University of Michigan), who are well-renowned for their work which establishes the importance of agent heterogeneity and microeconomic behavior for macroeconomic outcomes. The event brought together researchers from both the academia and policymaking institutions, who presented their thought-provoking research which both empirically documented the importance of agent heterogeneity, and attempted to theoretically model its aggregate implications in the corporate, housing, banking sectors and labor markets. This article provides a summary of some of the lessons from the workshop, focusing in particular on reviewing the contributions by the keynote speakers and the papers presented at the workshop.
References listed on IDEAS
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- De Fiore, Fiorella & Uhlig, Harald, 2015.
"Corporate Debt Structure and the Financial Crisis,"
Working Paper Series
1759, European Central Bank.
- Harald Uhlig & Fiorella De Fiore, 2012. "Corporate Debt Structure and the Financial Crisis," 2012 Meeting Papers 429, Society for Economic Dynamics.
- Fiorella De Fiore & Harald Uhlig, 2014. "Corporate Debt Structure and the Financial Crisis," NBER Working Papers 20730, National Bureau of Economic Research, Inc.
- Giacomo Masier & Ernesto Villanueva, 2011.
"Consumption and initial mortgage conditions: evidence from survey data,"
1101, Banco de España;Working Papers Homepage.
- Giacomo Masier & Ernesto Villanueva, 2011. "Consumption and Initial Mortgage Conditions: Evidence From Survey Data," BCL working papers 52, Central Bank of Luxembourg.
- Masier, Giacomo & Villanueva, Ernesto, 2011. "Consumption and initial mortgage conditions: evidence from survey data," Working Paper Series 1297, European Central Bank.
- Elisabeth Beckmann & Jarko Fidrmuc & Helmut Stix, 2012. "Foreign Currency Loans and Loan Arrears of Households in Central and Eastern Europe," Working Papers 181, Oesterreichische Nationalbank (Austrian Central Bank).
- Demyanyk, Yuliya & Hryshko, Dmytro & Luengo-Prado, Maria Jose & Sørensen, Bent E, 2013.
"Moving to a Job: The Role of Home Equity, Debt, and Access to Credit,"
CEPR Discussion Papers
9474, C.E.P.R. Discussion Papers.
- Yuliya Demyanyk & Dmytro Hryshko & María José Luengo Luengo-Prado & Bent E. Sorensen, 2013. "Moving to a job: The role of home equity, debt, and access to credit," Working Paper 1305, Federal Reserve Bank of Cleveland.
- Bluhm, Marcel & Faia, Ester & Krahnen, Jan Pieter, 2013. "Endogenous banks' networks, cascades and systemic risk," SAFE Working Paper Series 12, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
- Chiara Forlati & Luisa Lambertini, 2012. "Mortgage Amortization and Amplification," Working Papers 201201, Center for Fiscal Policy, Swiss Federal Institute of Technology Lausanne, revised Feb 2012.
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