# 2nd Macro Finance Workshop

**2nd Macro Finance Workshop**

October 25-26, 2013
NYU Stern School of Business
New York City

Workshop Organizers:
Stijn Van Nieuwerburgh (NYU Stern)
Neng Wang (Columbia Business School)

October 25
5:30 - 7:30 Welcome Reception
In Honor of 2013 Nobel Laureate Lars P. Hansen

October 26
8:00 Registration & Continental Breakfast

9:00 "Climate Change, Growth, and Risk" \[[Presentation](https://www.stern.nyu.edu/sites/default/files/assets/documents/con_044696.pdf)\]
Ravi Bansal (Duke University), Dana Kiku (UIUC), and Marcelo Ochoa (Federal Reserve Board)
Discussant: Lars Hansen, University of Chicago

10:00 [ "Market Power and Capital Flexibility: A New Perspective on the Pricing of Technology Shocks"](https://www.stern.nyu.edu/sites/default/files/assets/documents/con_044537.pdf)
Lorenzo Garlappi (UBC) and Zhongzhi Song (CKGSB)
Discussant: Dimitris Papanikolaou, Northwestern Kellogg

11:00 Refreshment Break

11:20 Keynote Presentation
"Optimal Fiscal Policy with Incomplete Asset Markets" (with A. Bhandari, D. Evans, and M. Golosov)
Thomas J. Sargent, New York University,
Distinguished Fellow, Macro Finance Society

12:20 Lunch

1:30 [ "Liquidity Management and Monetary Policy"](https://www.stern.nyu.edu/sites/default/files/assets/documents/con_044629.pdf)
Javier Bianchi (University of Winsconsin) and Saki Bigio (Columbia University)
Discussant: Thomas Philippon, NYU Stern

2:30 Refreshment Break

2:50 ["Endogenous Financial Constraints, Taxes and Leverage"](https://www.stern.nyu.edu/sites/default/files/assets/documents/con_044630.pdf)
Shaojin Li (Shanghai University) and Toni Whited (University of Rochester)
Discussant: Adriano Rampini, Duke Fuqua

3:50 [ "Mortgage Defaults and Prudential Regulations in a Standard Incomplete Market Model"](https://www.stern.nyu.edu/sites/default/files/assets/documents/con_044631.pdf)
Juan Carlos Hatchondo (Indiana University), Leonardo Martinez (IMF), and Juan Sanchez (Federal Reserve Bank of St. Louis)
Discussant: Michael Michaux, University of Southern California

4:50 Adjourn