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 In-person registration opens

Welcoming remarks

Paper Session 1 / Billion-Dollar Blind Spots: Fiscal Impacts of Off-Budget Policies
Recording for this session begins at the start of Day 1.

Chair: Eric Rosengren (MIT)

“Fiscal Consequences of Central Bank Losses”
Stephen Cecchetti (Brandeis), Jens Hilscher (UC Davis)
Discussant: Kristin Forbes (MIT)
Presentation Slides
Discussion Slides

"Exorbitant Privilege Gained and Lost: Fiscal Implications”
Zefeng Chen (Peking University), Zhengyang Jiang (Northwestern), Hanno Lustig (Stanford), Stijn Van Nieuwerburgh (Columbia, CEPR), Mindy Z. Xiaolan (UT Austin McCombs)
Discussant: Adrien Verdelhan (MIT)
Presentation Slides
Discussion Slides

Panel 1 / Tied Fortunes: New Thinking on Government Assets and Liabilities
Recording for this session begins at 1 hour 24 minutes on Day 1.

Moderator: Dana Wade (Peterson Foundation) - Presentation Slides 
Michael Faulkender (University of Maryland)
Deborah Lucas (MIT) - Presentation Slides and Paper
Paul Willen (Federal Reserve Bank of Boston) - Presentation Slides

Cocktails, Dinner and Keynote Speech

Keynote Speaker:
Peter R. Fisher (MIT GCFP Golub Senior Distinguished Fellow)
Keynote Speech
Recording for the keynote speech begins at 3 hours 05 minutes on Day 1.

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Continental breakfast

Panel 2 / Measuring What Matters: Rethinking Government Balance Sheets
Recording for this session begins at the start of Day 2.

Moderator: Deborah Lucas (MIT)
Jason Harris (IMF) - Presentation Slides 
Robert Litterman (Kepos Capital)
Robert Merton (MIT) - Presentation Slides 

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Paper Session 2 / Contingent Assets and Contingent Liabilities
Recording for this session begins at 1 hour 41 minutes on Day 2.

Chair: Jonathan Parker (MIT)

"Policies to Reduce Federal Budget Deficits by Increasing Economic Growth”
Douglas W. Elmendorf (Harvard Kennedy School), 
R. Glenn Hubbard (Columbia), Zachary Liscow (Yale)
Discussant: Karel Mertens (Federal Reserve Bank of Dallas)
Presentation Slides
Discussion Slides

"The Expanding Cost and Scope of Deposit Insurance"
Thomas Flanagan (Ohio State), Edward T. Kim (UMichigan), Shohini Kundu (UCLA), Amiyatosh Purnanandam (UMichigan)
Discussant: Deniz Anginer (Simon Fraser)
Presentation Slides
Discussion Slides
 

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Paper Session 3 / Edging Towards a Fiscal Cliff?
Recording for this session begins at 3 hours 33 minutes on Day 2.

Chair: Sunghwan Shin (Bank of Korea)

"The International Public Debt Valuation Puzzle: Testing the Fiscal Theory of the Price Level Across Countries and Time"
Matyas Farkas (IMF), Jonathan S. Hartley (Stanford),
J. R. Scott (PIMCO)
Discussant: Zhengyang Jiang (Northwestern)
Presentation Slides
Discussion Slides

“From Fiscal Deadlock to Financial Repression: Anatomy of A Fall”
Olivier Jeanne (Johns Hopkins)
Discussant: Carmen Reinhart (Harvard)
Presentation Slides
Discussion Slides
 

Lunch & Panel 3 / Term Premiums--What Are the Bond Markets ( Not) Telling Us?
Recording for this session begins at 5 hours 08 minutes on Day 2.

Moderator: Peter R. Fisher (MIT)
James Sweeney (BlackRock)
Richard Clarida (Columbia University and PIMCO)

Wrap-up and adjourn

WATCH RECORDING HERE* 
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