Workshop on Housing, Credit and Heterogeneity: New Challenges for Stabilization Policies, 13-14 September 2018

Sveriges Riksbank, in collaboration with the IIES, St. Louis Federal Reserve, and Ragnar Söderbergs Stiftelse hosted a conference on theoretical and empirical research regarding "Housing, Credit and Heterogeneity: New Challenges for Stabilization Policies" on 13-14 September, 2018.

Programme

Thursday September 13th

Session I

Chair: Karl Walentin (Sveriges Riksbank)

Welcoming remarks by Governor Stefan Ingves (Sveriges Riksbank)

Stefania Albanesi (Pittsburgh), "Real Estate Investors and the 2007-2009 Crisis"
[Slides]

Discussant: Wenli Li (Federal Reserve Bank of Philadelphia) [Slides]

Pavel Krivenko (Stanford), "Unemployment and the US Housing Market during the Great Recession" [Paper] [Slides]

Discussant: Pontus Rendahl (Cambridge) [Slides]

Keynote talk: Sydney Ludvigson (NYU), "Drivers of the Great Housing Boom-Bust: Credit Conditions, Beliefs, or Both?" [Slides]

Session II

Chair: Daria Finocchiaro (Sveriges Riksbank)

Yavuz Arslan (BIS), Bulent Guler and Burhanettin Kuruscu "Bank Balance Sheets and Boom-Bust Cycles" [Slides]

Discussant: Pedro Gete (IE Business school) [Slides]

Nuno Paixao (Bank of Canada), "Housing Prices and Consumer Spending: The Bank Balance Sheet Channel" [Paper] [Slides]

Discussant: Isaiah Hull (Sveriges Riksbank) [Slides]

Moritz Kuhn (Bonn), "The Great American Debt Boom, 1949- 2013" [Slides]

Friday September 14th

Session III

Chair: Carlos Garriga (Federal Reserve Bank of St. Louis)

David Berger (Northwestern) and Nicholas Turner, "Stimulating Housing Markets" [Slides]

Discussant: Selva Baziki (Central Bank of Turkey) [Slides]

Daniel Greenwald (MIT Sloan), Tim Landvoigt, Stijn Van Nieuwerburgh, "Financial Fragility with SAM?" [Paper] [Slides]

Discussant: Vincent Sterk (UCL) [Slides]

Session IV

Chair: Kathrin Schlafmann (IIES)

Carlos Garriga and Aaron Hedlund (Missouri), "Housing Finance, Boom-Bust Episodes, and Macroeconomic Fragility" [Paper] [Slides]

Discussant: Allen Head (Queen's) [Slides]

Keynote talk: Christopher Carroll (Johns Hopkins), "Heterogeneity, Housing, and Macroeconomic Policy: An Agenda" [Slides]

Organizing committee

Daria Finocchiaro (Sveriges Riksbank)
Carlos Garriga (FRB St. Louis)
Kurt Mitman (IIES and CEPR)
Kathrin Schlafmann (IIES and CEPR)
Karl Walentin (Sveriges Riksbank)