| Wednesday, July 6th | |
|---|---|
| 8:00 AM | |
| Coffee | |
| 8:50 AM | |
| Makedonia | WelcomePericles A. Mitkas, Aristotle University of Thessaloniki Konstantinos Karfakis, University of Macedonia |
| 9:00 AM | |
| Makedonia | Keynote Address 1 Chair: Stephen Spear, Carnegie Mellon UniversityMeasuring GDP in the Digitalised EconomyPaul Schreyer, OECD |
| 10:00 AM | |
| Coffee Break | |
| 10:30 AM | |
| Session A Byzantio I | How Best to Measure Hedonic Property Price Indexes Chair: Erwin Diewert, University of British Columbia and University of New South Wales Quantile Regressions and the Decomposition of House Price DistributionsYongheng Deng, National University of Singapore Chihiro Shimizu, National University of Singapore Xiangyu Guo, National University of Singapore Daniel McMillen, National Univesity of Singapore How Best to Measure Hedonic Property Price IndexesMick Silver, retiredDeveloping Land and Structure Price Indexes for Ottawa Condominium ApartmentsKate Burnett-Isaacs, Statistics Canada Ning Huang, Statistics Canada Erwin Diewert, University of British Columbia and University of New South Wales |
| Hedonic Regression Models for Tokyo Condominium Sales Chihiro Shimizu, National University of Singapore Erwin Diewert, University of British Columbia and University of New South Wales | |
| Session B Byzantio II | New Developments in the Measurement of Technical Change and Productivity Chair: Apostolos Serletis, University of Calgary Estimation of Technical Change and Price Elasticities: A Categorical Time-varying Coefficient ApproachGuohua Feng, University of North Texas Xiaohui Zhang, Murdoch University |
| Flexible Productivity Analysis with Nonparametric Panel Data Models using Penalized SplinesGholamreza Hajargasht, University of Melbourne Prasada Rao, University of Queensland | |
| Another Explanation of Labour Productivity ChangeChristopher O’Donnell, University of Queensland | |
| Measuring Total Factor Productivity in International Production ChainsMarcel Timmer, University of Groningen | |
| Session C Makedonia | Monetary Policy and Wholesale Finance Chair: Gaetano Antinolfi, Washington University at St. Louis Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance IndustryBorghan Narajabad, The Board of Governors of the Federal Reserve System Nathan Foley-Fisher, The Board of Governors of the Federal Reserve System Stephane Verani, The Board of Governors of the Federal Reserve System |
| Bond Market Liquidity and the Role of RepoYesol Huh, The Board of Governors of the Federal Reserve System Sebastian Bilbao, The Board of Governors of the Federal Reserve System | |
| The Network of Large-Value Loans in the U.S.: Concentration and SegregationAndon Badev, The Board of Governors of the Federal Reserve System Francesca Carapella, The Board of Governors of the Federal Reserve System Garth Baughman, The Board of Governors of the Federal Reserve System | |
| Competitive Search in Money Markets and Implementation of Monetary PolicyFrancesca Carapella, The Board of Governors of the Federal Reserve System Garth Baughman, The Board of Governors of the Federal Reserve System | |
| Session D Olyumpiada | Measurement Issues in Health Economics Chair: Ernst Berndt, Massachusetts Institute of Technology Prices and Spending of Medical Treatment after Physician Consolidation with Health Systems: Outpatient Prescription Drug-based Cancer CareRena M. Conti, University of Chicago Mary Beth Landrum, Harvard Medical School Mireille Jacobson, University of California at Irvine |
| Government Free Riding in Medical ResearchMargaret Kyle, MINES Paris Tech David Ridley, Duke University Su Zhang, Duke University | |
| Trends in the Costs of Outsourced R&D: Evidence from Clinical Trials SlidesErnst R. Berndt, Massachusetts Institute of Technology Iain M. Cockburn, Boston University and NBER | |
| Digitization and Innovation in Medical TechnologyAriel Dora Stern, Harvard Business School | |
| 12:30 | |
| Conference Lunch | |
| 2:00 | |
| Session A Makedonia | Financial Services Indices, Economic Activity and Liquidity Chair: Jane Binner, University of Birmingham Multi-stage Learning of US Price Levels Using Forecasts from Sluggish State-based Neural NetworksJane Binner, University of Birmingham Jonathan Tepper, The Nottingham Trent University |
| Divisia Money and the Stock Market: Evidence from Structural VAR ModelsWenjuan Chen, Free University of Berlin Dieter Nautz, Free University of Berlin | |
| Superlative Index Numbers and Revealed Preference Rankings PaperJames Swofford, University of South Alabama Gerald Whitney, University of New Orleans Per Hjertstrand, Research Institute of Industrial Economics | |
| What Can We Learn From Country Level Liquidity in the EMUMakram El Shagi, Henan Univeristy Logan Kelly, University of Wisconsin at River Falls | |
| Session B Byzantio II | Productivity Change – Measurement, Decomposition and Analysis Chair: Bert M. Balk, Rotterdam School of Management, Erasmus University Dissecting Aggregate Output and Labour Productivity Change: Additivity and MisallocationBert M. Balk, Rotterdam School of Management, Erasmus University |
| Decomposing Value-added Growth Over Sectors Into Explanatory FactorsKevin J. Fox, University of New South Wales Erwin Diewert, University of British Columbia and University of New South Wales | |
| Wage-productivity Growth Gap: An Analysis of Industry DataAbdul Erumban, The Conference Board Klaas de Vries, The Conference Board | |
| The Multiprod Project: Building a Cross-country Analysis of Productivity Using Official Firm-level DataGiuseppe Berlingieri, OECD and ESSEC Business School Patrick Blanchenay, OECD and University of Toronto Chiara Criscuolo, OECD | |
| 4:00 | |
| Coffee Break | |
| Thursday, July 7th | |
| 8:00 AM | |
| Coffee | |
| 9:00 | |
| Makedonia | Keynote Address 2 Chair: Warren Young, Bar Ilan UniversityTheory in the Age of Big Data SlidesPaperStephen E. Spear, Carnegie Mellon University |
| 10:00 | |
| Coffee Break | |
| 10:30 | |
| Session A Makedonia | Nowcasting and Forecasting Macroeconomic Variables: Theory and Practice Chair: Baoline Chen, Bureau of Economic Analysis Weighted-Covariance Factor Decomposition of VARMA Models for Forecasting Macroeconomic DataPeter A. Zadrozny, U.S. Bureau of Labor Statistics Baoline Chen, Bureau of Economic Analysis |
| Predicting Belgium’s GDP Using Targeted Bridge ModelsChristophe Piette, National Bank of Belgium | |
| Norges Banks System for Short-term Forecasting of Macroeconomic VariablesAnne Sofie Jore, Norges Bank Knut Are Aastveit, Norges Bank Francesco Ravazzolo, Free University of Bozen Claudia Foroni, Norges Bank | |
| Adaptive Learning and Survey Expectations of InflationSergey Slobodyan, NRU HSE St Petersburg and CERGE-EI, Prague Raf Wouters, National Bank of Belgium | |
| Session B Byzantio I | How Rich are our Measurements of Household Wealth? Chair: Arthur Kennickell, The Board of Governors of the Federal Reserve System From the Household to the Data Point: Measuring Private Wealth Within the HFCSPirmin Fessler, Austrian Nationalbank Verena Halsmayer |
| Our Research is Frittered Away at the Tails: The Extremes of the Distribution of Wealth in Cross-country ComparisonsSebastien Perez Duarte, European Central Bank Robin Chakraborty | |
| The Concentration of Wealth: Evidence from Five Data SourcesFacundo Alvaredo, Paris School of Economics | |
| Sensitivity of Wealth and Income MeasurementsJesse Bricker, The Board of Governors of the Federal Reserve System | |
| Session C Byzantio II | Topics in Applied Economics and Growth Chair: Constantinos Katrakilidis, Aristotle University of Thessaloniki An Asymmetric Cointegration Analysis of Crude Oil Prices – Carbon Emissions RelationshipEleni Zafeiriou, Democritus Unniversity of Thrace Nikolaos Sariannidis, Technological Education Institute of West Macedonia Constantinos Katrakilidis, Aristotle University of Thessaloniki |
| What Do Convergence-measures Really Indicate?Grigoris Zarotiadis, Aristotle University of Thessaloniki | |
| Global and Local Price Co-movement in EU Pork Markets:An Empirical Analysis with Kernel-based Multivariate CopulasPanos Fousekis, Aristotle University of Thessaloniki Vasilis Grigoriadis, Aristotle University of Thessaloniki | |
| Price Transmission in the Swedish Pork Chain: New Evidence from Asymmetric ARDL modelingKostas Karantininis, Swedish University of Agricultural Sciences Constantinos Katrakilidis, Aristotle University of Thessaloniki Konstantinos Karfakis, University of Macedonia Morten Persson, Lund University | |
| Session D Olyumpiada | Search and Bargaining in Markets Chair: Dakshina de Silva, Lancaster University Gasoline Price Wars: Spatial Dependence AwakensMichael Polemis, University of Piraeus Konstantinos Eleftheriou, University of Piraeus |
| Project Modifications and Bidding in Highway Procurement AuctionsDakshina de Silva, Lancaster University Timothy Dunne, Federal Reserve Bank of Atlanta Georgia Kosmopoulou, University of Oklahoma Carlos Lamarche, University of Kentucky | |
| Free Riding on the Search of Others: Search Spillovers in the Mortgage MarketGeorge Deltas, University of Illinois at Urbana-Champaign Zening Li, University of Illinois at Urbana-Champaign | |
| An Experimental Test of the Lucas Asset Pricing ModelSean Crockett, Baruch College, City University of New York John Duffy, University of California at Irvine | |
| 12:30 | |
| Executive Committee LunchElectra Palace Excelsior Room | |
| Conference Lunch | |
| 2:00 | |
| Session A Makedonia | International Comparisons Chair: Prasada Rao, University of Queensland Space-Time (In)Consistency in the National Accounts: Causes and CureNicholas Oulton, London School of Economics |
| Rebasing Maddison: New Relative Prices and the Shape of Long-run Global DevelopmentRobert Inklaar, University of Groningen Jutta Bolt, University of Groningen Herman de Jong, University of Groningen Jan Luiten van Zanden, University of Groningen | |
| Spatial Variation in Prices: Cross Country Price, Welfare and Poverty ComparisonsAmita Majumder,Indian Statistical Institute Ranjan Ray, Monash University Sattwik Santra, Centre for Studies in Social Sciences | |
| Standard Errors and Reliability Measures for International Price and Real Income ComparisonsD.S. Prasada Rao, University of Queensland Gholamreza Hajargasht, University of Melbourne | |
| Session B Byzantio I | Intangible Capital Chair: Leonard Nakamura, Federal Reserve Bank of Philadelphia Valuing ‘Free’ Media in GDP: An Experimental Approach Paper SlidesLeonard Nakamura, Federal Reserve Bank of Philadelphia Rachel Soloveichik, Bureau of Economic Analysis Jon Samuels, Bureau of Economic Analysis |
| Modeling Intangible Investment in a Macro-econometric FrameworkFabio Bacchini, ISTAT Cecilia Jona-Lasinio, Istituto Nazionale di Statistica | |
| An Experimental Human Capital Satellite Account for CanadaWulong Gu, Statistics Canada Ryan Macdonald, Statistics Canada | |
| Incorporating Health into Measures of Human Capital StocksMary O’Mahony, King’s College Lea Samek, King’s College | |
| Session C Byzantio II | Efficiency/Productivity Analysis at the Aggregate Level Chair: Giannis Karagiannis, University of Macedonia On Aggregating Efficiency and Productivity Indicators PaperGiannis Karagiannis, University of Macedonia Rolf Fare, Oregon State University Shawna Grosskopf, Oregon State University |
| Productivity Growth in Network Models: An Application to Banking During the Financial Crisis PaperNikolaos Tzeremes, Aristotle University of Thessaloniki Stavros Kourtzidis, Aristotle University of Thessaloniki | |
| A Decomposition of US Business Sector TFP Growth into Technical Progress and Inefficiency Components PaperKevin J. Fox, University of New South Wales Erwin Diewert, University of British Columbia and University of New South Wales | |
| Industry Inefficiency Measures: A Unifying Approximation PropositionPaperAntonio Peyrache, University of Queensland Hien Thu Pham, University of Queensland | |
| Session D Olyumpiada | Money and the Economy Chair: Apostolos Serletis, University of Calgary Monetary Policy and Leverage ShocksApostolos Serletis, University of Calgary Khandokar Istiak, University of South Alabama |
| The Zero Lower Bound and Market Spillovers: Evidence from the G7 Evangelos Kyritsis,Norwegian School of Economics Apostolos Serletis, University of Calgary | |
| Separable Monetary Aggregates: An Investigation of Weak and Additive Separability for the Euro Zone Per Hjertstrand, Institutet for Naringslivsforskning Barry Jones, Binghampton University Livio Stracca, European Central Bank | |
| A New Interpretation of Money Growth Targeting and the Monetarist ExperimentJohn Keating, University of Kansas Andrew Lee Smith, Federal Reserve Bank of Kansas City | |
6:00 | |
| Conference DinnerMeet buses at hotel6:00 PM – 12:30 AM | |
| Friday, July 8th | |
| 9:00 AM | |
| Coffee | |
| 10:00 | |
| Makedonia | Keynote Address 3 Chair: Paul Schreyer, OECDClimate Change Around the WorldAnthony A. Smith, Yale University |
| 11:00 | |
| Coffee Break | |
| 11:30 | |
| Session A Makedonia | Advances in Economic Measurement at the Center for Financial Stability Chair: William A. Barnett, University of Kansas and Center for Financial Stability Chinese Divisia Monetary Index and GDP NowcastingBiyan Tang, University of Kansas William A. Barnett, University of Kansas and Center for Financial Stability |
| Construction of Divisia Monetary Aggregates for Mexico: Methods and SourcesRyan Mattson, West Texas A&M University and the Center for Financial Stability Tino Frausto, West Texas A&M University | |
| Nowcasting Nominal GDP with the Credit-Card Augmented Divisia Monetary AggregatesWilliam A. Barnett, University of Kansas and Center for Financial Stability Marcelle Chauvet, University of California at Riverside Danilo Leiva-Leon, Central Bank of Chile Liting Su, University of Kansas and Center for Financial Stability | |
| Why CFS Divisia Matters SlidesLawrence Goodman, President, Center for Financial Stability | |
| Session B Byzantio I | Intangibles In The Public Sector: The SPINTAN project Chair: Matilde Mas, University of Valencia and IVIE Estimating Public Intangibles in Real TimeFabio Bacchini Istat, ISTAT Roberto Iannaccone, ISTAT |
| Spillovers to Public IntangiblesCecilia Jona-Lasinio, Istituto Nazionale di Statistica Carol Corrado, The Conference Board Jonathan Haskel, Imperial College Business School | |
| A Methodology for Disentangling Public Funded R&D (GBAORD) by IndustriesJuan Fernandez, University of Valencia and IVIE Matilde Mas, University of Valencia and IVIE Eva Benages, University of Valencia and IVIE | |
| Education as Social InfrastructureMary O’Mahony, King’s College Carol Corrado, The Conference Board Lea Samek, King’s College | |
| Session C Byzantio II | Contemporary Studies in Economic Measurement Chair: Nuray Terzi, Marmara University Oil Prices and Trade Balance: A Wavelet Based Analysis for TurkeyNuray Terzi, Marmara University Sadullah Celik, Marmara University |
| Measuring Price Differentiation in Provinces of TurkeyEmel Baydan, Marmara University | |
| Survival Maximizing Leverage of an Economy: The Case of GreeceHaluk Yener, Kadir Has University Thanasis Stengos, Guelph University Ege Yazgan, Kadir Has University | |
| The Link Between Capital Flows and Some Financial Variables for an Emerging Market of TurkeyEmel Odabasi, Marmara University | |
| 1:30 | |
| Conference Lunch1:30 PM – 2:30 PM | |
| 2:30 | |
| Makedonia | Keynote Address 4 Chair: William A. Barnett, University of Kansas and Center for Financial StabilityHow Milton Friedman Became a MonetaristGeorge Tavlas, Bank of Greece |
| 3:30 | |
| Coffee Break | |
| 4:00 | |
| Session A Olyumpiada | New Economic Measurement Issues Chair: Wulong Gu, Statistics Canada Technical Change and Rising Living Standards: Innovation Affects More than GDPCharles Hulten, University of MarylandLeonard Nakamura, Federal Reserve Bank of Philadelphia |
| New Technology Indicator for Technological ProgressWendy Li, Bureau of Economic Analysis | |
| Sources of Country-sector Productivity Growth: Total Factor Productivity and Intangible Capital in the EU15 and the US.Jonathan Haskel, Imperial College London Cecilia Jona-Lasinio, Istituto Nazionale di Statistica Massimiliano Iommi, ISTAT and LUISS Lab | |
| Calculating Domestic Price Indexes: The Role of Producer Price Indexes, Import Price Indexes, and Export Price Indexes SlidesRachel Soloveichik, Bureau of Economic Analysis Jon Samuels, Bureau of Economic Analysis | |
| Session B Byzantio II | Transcending Traditional Measurement Chair: Arthur Kennickell, The Board of Governors of the Federal Reserve System Digital, Global, Fast, Complex: Finance has Changed Radically. What Does that Mean for Measurement?Francis Gross, European Central Bank |
| Standards and Business DataKarla McKenna, International Organization for Standardization Francois Laurent, European Central Bank | |
| Measuring New Business Formation Using Administrative DataKimberly N. Bayard, The Board of Governors of the Federal Reserve System | |
| Building a U.S. National Mortgage Database: Linking Administrative, Commercial and Survey DataRobert Avery, Federal Housing Finance Administration | |
| Session C Byzantio I | The Measurement of Productivity: Problems and Solutions Chair: Erwin Diewert, University of British Columbia and University of New South Wales Has the Labour Share Declined?Paul Schreyer, OECD Taehyoung Cho, Soobin Hwang |
| The Productivity of Financial Service ProvidersDennis Fixler, Bureau of Economic Analysis Kimberly Zieschang, University of Queensland | |
| Natural Resources and Cross-Country Income DifferencesRobert Inklaar, University of Groningen Daan Freeman, University of Groningen | |
| Alternative User Costs, Rates of Return and TFP Growth Rates for the US Nonfinancial Corporate and Noncorporate Business Sectors: 1960-2014Erwin Diewert, University of British Columbia and University of New South Wales Kevin J. Fox, University of New South Wales | |
| Session D Makedonia | Nonlinear Dynamics in Economics and Finance Chair: Fredj Jawadi, University of Evry Val d’Essonne Oil Volatility and Exchange Rate Jumps: An Intrady AnalysisFredj Jawadi, University of Evry Val d’Essonne Hachmi Ben Ameur, INSEEC Business School Wael Louhichi, ESSCA School of Management Karim Idi Cheffou, EDC Paris Business School |
| Debt Deflation, Financial Market and Regime Change – Evidence from Europe using MRVAR PaperSlidesAlexander Haider, New School for Social Research Willi Semmler, New School for Social Research Ekkehard Ernst, International Labor Organization | |
| Capital Control, Exchange Rate Regimes, and Monetary Policy: Indeterminacy and BifurcationJingxian Hu, University of Kansas William A. Barnett, University of Kansas and Center for Financial Stability | |
| Taylor Rules, Instability, and the Liquidity TrapAntoine Parent, Sciences Po, Lyon Francesco Magris, Universite de Tours Antoine Le Riche, Aix-Marseille School of Economics | |
| Coffee Break | |