Financial Frictions and the Macroeconomy Workshop

This workshop was organized by the Bank of Canada and the JEDC

NOTE: The papers listed here are reproduced as submitted by their authors, and have not been edited or proofread by the Bank of Canada.

"Zombie Lending and Depressed Restructuring in Japan"

Ricardo Caballero (MIT), Takeo Hoshi (UC San Diego), and Anil Kashyap (University of Chicago)

"The Role of the Net Worth of Banks in The Propagation of Shocks"

Cesaire Meh (Bank of Canada) and Kevin Moran (Université Laval)

"Financial Development and Macroeconomic Stability"

Vincenzo Quadrini (University of Southern California) and Urban Jermann (Wharton School of the University of Pennsylvania)

"The Role of Debt and Equity Financing Over the Business Cycle"

Francisco Covas (Bank of Canada) and Wouter den Haan (London Business School)

"A Dynamic Theory of Optimal Capital Structure and Executive Compensation"

Harold Cole (UCLA) and Andy Atkeson (UCLA)

"On the Privatization of Public Debt"

Marco del Negro (Atlanta Fed), Fabrizio Perri (NYU), and Fabiano Schivardi (Bank of Italy)

"A Theory of Unsecured Debt Without Punishment"

Satayjit Chatterjee (Philadelphia Fed), Dean Corbae (University of Texas at Austin) and, Jose-Victor Rios-Rull (University of Pennsylvania)

"Accounting for the Rise in Consumer Bankruptcies"

Igor Livshits, Jim MacGee (University of Western Ontario), and Michele Tertilt (Stanford University)

"Liquidity and the Market for Ideas"

Randall Wright and Rafael Silveria (University of Pennsylvania)

"When Does Domestic Savings Matter For Economic Growth?"

Philippe Aghion (Harvard University) and Peter Howitt (Brown University)

"Adjusting to Capital Liberalization"

K. Aoki, G. Benigno (LSE) and Nobuhiro Kiyotaki (LSE & Princeton)