Opening
Remarks | BEN S. BERNANKE
Chairman, Board of Governors of the Federal Reserve System |
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| The Housing Finance Revolution |
| Authors: | Richard K. Green
Professor, George Washington University Susan M. Wachter
Professor, University of Pennsylvania |
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| Paper: | The Housing Finance Revolution |
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| Discussant: | William R. White
Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements |
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| General Discussion |
|
| Understanding Recent Trends in House Prices and Home Ownership |
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| Author: | Robert J. Shiller
Professor, Yale University |
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| Paper: | Understanding Recent Trends in House Prices and Home Ownership |
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| Discussant: | Christopher J. Mayer
Professor, Columbia University |
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| General Discussion |
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| Housing and the Business Cycle |
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| Author: | Edward E. Leamer
Professor, University of California, Los Angeles |
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| Paper: | Housing is the Business Cycle |
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| Discussant: | Frank Smets
Deputy Director General, European Central Bank |
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| General Discussion |
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Introductory
Remarks: | DAVID W. WILCOX
Deputy Director, Division of Research and Statistics
Board of Governors of the Federal Reserve System |
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Luncheon
Address: | Edward M. Gramlich
Senior Fellow, Urban Institute |
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|
| Housing and Consumer Behavior |
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| Author: | John N. Muellbauer
Professor, Oxford University |
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| Paper: | Housing, Credit and Consumer Expenditure |
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| Discussant: | Sydney C. Ludvigson
Professor, New York University |
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| General Discussion |
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| Housing and the Monetary Policy Transmission Mechanism |
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| Author: | Frederic S. Mishkin
Governor, Board of Governors of the Federal Reserve System |
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| Paper: | Housing and the Monetary Transmission Mechanism |
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| Discussant: | James D. Hamilton
Professor, University of California, San Diego |
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| General Discussion |
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| Housing and Monetary Policy |
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| Panelists: | Stefan Ingves
Governor, Sveriges Riksbank |
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| | Kazumasa Iwata
Deputy Governor, Bank of Japan |
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| | John B. Taylor
Professor, Stanford University and Senior Fellow, Hoover Institution |
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| General Discussion |
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| Overview and Concluding Remarks |
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| | Martin Feldstein
President and Chief Executive Officer, National Bureau of Economic Research |
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| Participants |
