Program (CEST Time)

Day 1: Friday June 15, 2018

Session A1 – Inequality and Macroeconomic Activity (Chair: Christian Proaño, Universität Bamberg)

09:00 – 09:35	Persistent wage inequality as another worker discipline device Jaylson Jair da Silveira, Gilberto Tadeu Lima (University of São Paulo)
09:35 – 10:10	Inequality and finance in a rent economy  Alberto Botta, Eugenio Caverzasi, Alberto Russo (Università Politecnica delle Marche), Mauro Gallegati, Joseph Stiglitz
10:10 – 10:45	Understanding inequality as a business cycle phenomenon: Evidence from U.S. survey data Martin Geiger, Eric Mayer (Julius-Maximilians-Universität Würzburg), Johann Scharler

Session A2 – Agent-Based Models (Chair: Sven Schreiber, Freie Universität Berlin & IMK Düsseldorf)

09:00 – 09:35	Modeling procedural rationality, power relations, and stock-flow consistency: A general constrained dynamics approach Erhard Glötzl, Oliver Richters (Carl von Ossietzky Universität Oldenburg)
09:35 – 10:10	Monetary policy and prudential regulation in a hybrid AB-SFC model with heterogeneous expectations Severin Reissl (Università Cattolica del Sacro Cuore & Universität Bielefeld)
10:10 – 10:45	ABM: Macro and micro prudential policies: Sweet and lowdown in a credit network agent-based model Federico Giri, Mauro Gallegati, Ermanno Catullo (Università Politecnica delle Marche)

Session B1 – Financial Instability and Income Distribution (Chair: Mishael Milakovic, University of Bamberg)

11:00 – 11:35	Decomposing financial (in)stability in emerging economies Etienne Lepers, Antonio Sánchez Serrano (European System Risk Board)
11:35 – 12:10	Intersectoral systemic risk: Evidence from Morocco Firano Zakaria (University Mohammed 5 Rabat), Filali Fatine
12:10 – 12:45	The redistributive impacts of ECB’s unconventional monetary policies: Evidence from Italian households surveys Mehdi El Herradi (University of Lille & Bordeaux University)

Session B2 – Expectations and Learning in Macroeconomics (Chair: Tomasz Makarewicz, University of Bamberg)

11:00 – 11:35	Endogenously (Non-)Ricardian Beliefs William Branch, Emanuel Gasteiger (Freie Universität Berlin)
11:35 – 12:10	Endogenous participation, risk, and learning in the stock market Michael Shin (University of California, Irvine)
12:10 – 12:45	Monetary and fiscal policy in expectation driven liquidity traps Joep Lustenhouwer (Universität Bamberg)

Session C1 – Bounded Rationality and Financial Markets (Chair: Frank Westerhoff, Universität Bamberg)

14:15 – 14:50	Ambiguous leverage cycles Marzio Bassanin (LUISS Guido Carli & European Central Bank), Ester Faia, Valeria Patella
14:50 – 15:25	The consumption response to capital gains: Evidence from mutual fund liquidations Steffen Meyer (Leibniz Universität Hannover), Michaela Pagel, Alessandro Previtero
15:25 – 16:00	On the evolutionary fitness of rationality Gregor Boehl (Goethe Universität Frankfurt)
16:00 – 16:35	Different compositions of animal spirits and their impact on macroeconomic stability Reiner Franke (Christian-Albrechts-Universität zu Kiel), Frank Westerhoff

Session C2 – Behavioral Macroeconomics (Chair: Emanuel Gasteiger, TU Wien)

15:15 – 14:50	A business cycle model with neuroeconomic foundations Baptiste Massenot (Goethe Universität Frankfurt and SAFE)
15:50 – 15:25	Estimating behavioral learning equilibria in DSGE models Cars Hommes, Kostas Mavromatis, Tolga Ozden (Universiteit van Amsterdam)
15:25 – 16:00	Price level versus inflation targeting under heterogenous expectations: A laboratory experiment Cars Hommes, Tomasz Makarewicz (Universität Bamberg)
16:00 – 16:35	Reshaping inflation expectations at the zero lower bound Jasmina Arifovic, Alex Grimaud (Università Cattolica del Sacro Cuoro and Universiteit van Amsterdam), Isabelle Salle, Gauthier Vermandel

17:00 – 18:30

Keynote Lecture by Thomas Lux: “The Dynamics of the Interbank Market: Statistical Stylized Facts and Agent-Based Models”

Day 2: Saturday June 16, 2018

Session D1 – Macroeconomic Experiments (Isabelle Salle, Bank of Canada)

09:00 – 09:35	Buffer stock saving: Experimental evidence Sebastian Gechert, Jan Siebert (Universität Duisburg-Essen)
09:35 – 10:10	Why labor supply is a substitute for saving and whether this explains precautionary behaviour Andreas Orland (Universität Potsdam), Davud Rostam-Afschar
10:10 – 10:45	Cold turkey vs gradualism- inflation inertia and level-k thinking in a laboratory experiment Marcus Giamattei (Universität Passau)

Session D2 – Macroprudential Policies (Chair: Christian R. Proaño, Universität Bamberg)

09:00 – 09:35	Credit booms, macroprudential policy and financial crises Peter Karlström (University of Bologna)
09:35 – 10:10	LTV vs DTI constraints: When did they bind, and how do they interact? Marcus Mølbak Ingholt (University of Copenhagen)
10:10 – 10:45	Learning about banks’ net worth and the slow recovery after the Financial Crisis Josef Hollmayr (Deutsche Bundesbank), Michael Kühl