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ECB-CFS conference on Household Finances and Consumption
Johann Wolfgang Goethe University, Campus Westend, Frankfurt am Main, 4 - 5 September 2008
Organisers:
Luigi Guiso (European University Institute)
Michael Haliassos (Centre for Financial Studies and Johann Wolfgang Goethe University)
Peter Mooslechner (Oesterreichische Nationalbank)
Lucrezia Reichlin (European Central Bank)
Please note that the conference's attendance is by invitation only.
Programme:
Thursday, 4 September 2008
| 12:30 | Lunch |
| 14:00: | Plenary Talk 1 – Orazio Attanasio (University College London and IFS, United Kingdom)
ENGLISH |
| 15:00 | Plenary Talk 2 – Deborah Lucas (Northwestern University, United States)
ENGLISH |
| 16:00 | Coffee |
| 16:30 | Speech – Vítor Constâncio (Governor, Banco de Portugal)
ENGLISH |
| 17:00 | Presentation of the Household Finances and Consumption Project Caroline Willeke and Michael Ehrmann (European Central Bank) Panel Discussion: Manuel Arellano (CEMFI, Spain) ENGLISH, Christopher Carroll (Johns Hopkins University, United States) and ENGLISH Tullio Jappelli (University of Naples and CSEF, Italy) ENGLISH |
| 18:30 | End |
| 19:30 | Dinner |
Friday, 5 September 2008
| 8:30 | Welcome |
| 9:00 | Consumer Bankruptcy and Default: The Role of Individual Social Capital Formation Characteristics Sumit Argawal (Federal Reserve Bank of Chicago), Souphala Chomsisengphet (Office of the Comptroller of the Currency, United States) and Chunlin Liu (University of Nevada-Reno, United States) ENGLISH Discussant: Daniel Dorn (LeBow College of Business, Drexel University, United States) |
| 10:00 | Household External Finance and Consumption Paolo Surico,Timothy Besley and Neil Meads (Bank of England) ENGLISH Discussant: Winfried Koeniger (Queen Mary College, United Kingdom) |
| 11:00 | Coffee |
| Chair: Tullio Jappelli | |
| 11:30 | Owner-Occupied Housing: Life-cycle Implications for the Household Portfolio Marjorie Flavin (UC San Diego, United States) and Takashi Yamashita (Reed College, United States) ENGLISH Discussant: Mette Gørtz (AKF Danish Institute of Governmental Research, Denmark) |
| 12:30 | Debt Literacy, Financial Experience and Overindebtedness Annamaria Lusardi (Dartmouth College, United States) and Peter Tufano (Harvard Business School, United States) ENGLISH Discussant: James Feigenbaum (University of Pittsburgh, United States) |
| 13:30 | Lunch |
| Chair: Manuel Arellano | |
| 14:30 | Diversification and its Discontents: Idiosyncratic and Entrepreneurial Risk in the Quest for Social Status Nikolai Roussanov (University of Pennsylvania, United States) ENGLISH Discussant: Roman Inderst (Goethe University Frankfurt, Germany) |
| 15:30 | Bequests, Inheritances and Family Traditions Oded Stark (Bonn University, Germany) and Donald Cox (Boston College, United States) ENGLISH Discussant: Graziella Bertocchi (Università di Modena e Reggio Emilia, Italy) |
| 16:30 | Coffee |
| Chair: Christopher Carroll | |
| 17:00 | House Prices and Consumption: A Micro Study Mette Gørtz (AKF, Danish Institute of Governmental Research), Martin Browning (Department of Economics, Oxford University) and Søren Leth-Petersen (Department of Economics, University of Copenhagen) ENGLISH Discussant: John Duca (Federal Reserve Bank of Dallas) |
| 17:30 | The Response of Household's Consumption and Balance Sheets to the Risk of Losing the Job: Evidence from Firing Costs Ernesto Villanueva and Cristina Barcelò (Banco de España) ENGLISH Discussant: John Duca (Federal Reserve Bank) |
| 18:00 | Financial Literacy, Retirement Planning and Household Wealth Maarten van Rooij (De Nederlandsche Bank), Rob Alessie (Utrecht School of Economics, the Netherlands) and Annamaria Lusardi (Dartmouth College, United States) ENGLISH Discussant: Carol Bertaut (Federal Reserve Bank) |
| 18:30 | Saving Behavior Over the Life-Cycle Does Not Differ Across Countries. Portfolio Choices Do. Frederic Lambert (Banque de France) and Matteo Pignatti (New York University, United States) ENGLISH Discussant: Carol Bertaut (Federal Reserve Bank) |
| 19:00 | End |