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Monetary models and aggregate dynamics
20–21 June 2005

115 rue Réaumur,
75002 Paris

Monday, 20/6/2005

8h30 - 9h00

Welcoming Coffee

9h00 - 12h30

First session:	Structural Inflation Dynamics
	Chair: Claire Loupias (Banque de France)

9h00 - 10h00

Presenter:	Gregory de Walque(NBB)
	Frank Smets (ECB)
	Raf Wouters (NBB)

Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting

Discussant: Hervé Le Bihan (Banque de France)

10h00 - 11h00

Presenter:	Timothy Cogley (University of California, Davis)
	Argia M. Sbordone (Federal Reserve Bank of New York)

A Search for a Structural Phillips Curve

Discussant: Gonzalo Comba-Mendez (ECB)

11h00 - 11h30

Coffee Break

11h30 - 12h3

Presenter:	Eric Jondeau (HEC Lausanne and FAME)
	Jean-Guillaume Sahuc (Banque de France and EPEE University of Evry)

Optimal Monetary Policy in an Estimated DSGE Model of the Euro Area with Cross-Country Heterogeneity

Discussant: Lise Patureau (THEMA, University of Cergy)

12h30 - 14h30

Lunch

14h30 - 17h00

Second session:	Forecasting with DSGE Models
	Jean-Pierre Villetelle (Banque de France)

14h30 – 15h30

Presenter:	Malin Adolfson (Sveriges Riksbank)
	Jesper Lindé (Sveriges Riksbank and IIES)
	Mattias Villani (Sveriges Riksbank and Stockholm University)

Forecasting Performance of an Estimated Open Economy DSGE Model for the Euro Area

Discussant: Eric Jondeau (HEC Lausanne and FAME)

15h30 – 16h00

Coffee Break

16h00 - 17h00

Presenter:	David E. Altig (Federal Reserve Bank of Cleveland)
	Lawrence J. Christiano (Northwestern University, NBER, Federal Reserve Bank of Chicago, Cleveland and Minneapolis)
	Martin Eichenbaum (Northwestern University, National Bureau of Economic Research, and Federal Reserve Bank of Chicago)
	Jesper Lindé (Sveriges Riksbank and IIES)

Firm-Specific Capital, Nominal Rigidities, and the Business Cycle

Discussant: Julien Matheron (Banque de France)

20h00

Dinner at « Le Grand Colbert »

Tuesday, 21/6/2005

8h30 - 9h00

Welcoming Coffee

9h00 - 12h30

Third session: Monetary Policy and Aggregate Dynamics Chair: Gaëlle Le Fol (GEAPE, University of Angers, CREST – INSEE, and Banque de France)

9h00 - 10h00

Presenter:	William A. Branch (U.C. Irvine)
	John Carlson (Federal Reserve Bank of Cleveland)
	George W. Evans (University of Oregon)
	Bruce McGough (Oregon State University)

Monetary Policy, Endogenous Inattention, and the Volatility Trade-off

Discussant: Guy Laroque (CREST – INSEE)

10h00 - 11h00

Presenter:	Luca Gambetti (UPF)
	Evi Pappa (LSE and IGIER)
	Fabio Canova (IGIER, UPF and CEPR)

The Structural Dynamics of US Output and Inflation: What Explains the Changes?

Discussant: Philippe Andrade (THEMA, University of Cergy)

11h00 - 11h3

Coffee Break

11h30 - 12h30

Presenter:	Peter Hördahl (DG Research, ECB)
	Oreste Tristani (DG Research, ECB)
	David Vestin (DG Research, ECB)

The Yield Curve and Macroeconomic Dynamics

Discussant: Caroline Jardet (Banque de France)

12h30 - 14h30

Lunch

14h30 - 17h00

Fourth session:	Structural VAR Models
	Chair: Françoise Drumetz (Banque de France)

14h30 - 15h30

Presenter:

Gert Peersman (University of Ghent)

Putting the New Keynesian Model to a Test: An SVAR Analysis with DSGE Priors

Discussant: Stéphane Grégoir (CREST – INSEE) / Patrick Fève (University of Toulouse, GREMAQ, IDEI, and Banque de France)

15h30 - 16h00

Coffee Break

16h00 - 17h00

Presenter:

Martial Dupaigne (University of Toulouse, GREMAQ)
Patrick Fève (University of Toulouse, GREMAQ, IDEI, and Banque de France)Julien Matheron (Banque de France)

Technology Shock and Employment: Do We Really Need DSGE Models with a Fall in Hours?

Discussant: Fabien Tripier (ECONOMIX, University of Nanterre-Paris X)

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Monetary models and aggregate dynamics20–21 June 2005

Monetary models and aggregate dynamics
20–21 June 2005