NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Economic Fluctuations and Growth Research Meeting

Andrew Abel and Valerie Ramey, Organizers

July 19, 2003

Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts

PRELIMINARY PROGRAM

FRIDAY, JULY 18:

6:30 PM Reception and Dinner

Royal Sonesta Hotel

SATURDAY, JULY 19:

8:30 AM Continental Breakfast

9:00 AM LAURA VELDKAMP, INSEAD

Media Frenzies in Markets for Financial Information

Discussant: JOHN LEAHY, New York University and NBER

10:00 AM Coffee Break

10:30 AM MARKUS BRUNNERMEIER, Princeton University

JONATHAN PARKER, Princeton University and NBER

Optimal Expectations

Discussant: DAVID LAIBSON, Harvard University and NBER

11:30 AM FATIH GUVENEN, University of Rochester

A Parsimonious Macroeconomic Model for Asset Pricing:

Habit Formation or Cross-Sectional Heterogeneity?

Discussant: JOHN CAMPBELL, Harvard University and NBER

12:30 PM Lunch

1:30 PM CHANG-TAI HSIEH, Princeton University and NBER

PETER KLENOW, Federal Reserve Bank of Minneapolis and NBER

Relative Prices and Relative Prosperity

Discussant: SAMUEL KORTUM, University of Minnesota and NBER

2:30 PM Coffee Break

3:00 PM ROBERT HALL, Stanford University and NBER

Wage Determination and Employment Fluctuations

Discussant: GAREY RAMEY, UC, San Diego

4:00 PM OLIVIER BLANCHARD, MIT and NBER

THOMAS PHILIPPON, MIT

The Decline of Rents, and the Rise and Fall of European Unemployment

Discussant: JORDI GALI, CREI and NBER

5:00 PM Adjourn

5/16/03