Foreword
THOMAS M. HOENIG
President, Federal Reserve Bank of Kansas City

The Contributors

Symposium Introduction
BRENT BUNDICK
Research Associate
Federal Reserve Bank of Kansas City
GORDON H. SELLON, JR.
Senior Vice President and Director of Research
Federal Reserve Bank of Kansas City

Opening Remarks
BEN S. BERNANKE
Chairman
Board of Governors of the Federal Reserve System

The Housing Finance Revolution

The Housing Finance Revolution

Authors:

RICHARD K. GREEN
Professor
George Washington University

SUSAN M. WACHTER
Professor
University of Pennsylvania

Discussant:

WILLIAM R. WHITE
Economic Adviser and Head of the Monetary and Economic Department
Bank for International Settlements

General Discussion

Understanding Recent Trends in House Prices and Home Ownership

Author:
ROBERT J. SHILLER
Professor
Yale University

Discussant:
CHRISTOPHER J. MAYER
Professor
Columbia University

General Discussion

Housing and the Business Cycle

Housing is the Business Cycle

Author:
EDWARD E. LEAMER
Professor
University of California, Los Angeles

Discussant:
FRANK SMETS
Deputy Director General
European Central Bank

General Discussion

Luncheon Address

Introductory Remarks:

DAVID W. WILCOX
Deputy Director, Division of Research and Statistics
Board of Governors of the Federal Reserve System

Address:

EDWARD M. GRAMLICH
Senior Fellow
Urban Institute

Housing and Consumer Behavior

Housing, Credit and Consumer Expenditure

Author:

JOHN N MUELLBAUER
Professor
Oxford University

Discussant:

SYDNEY C. LUDVIGSON
Professor
New York Univeristy

General Discussion

Housing and the Monetary Policy Transmission Mechanism

Housing and the Monetary Transmission Mechanism

Author:

FREDERIC S. MISHKIN
Governor
Board of Governors of the Federal Reserve System

Discussant:

JAMES D. HAMILTON
Professor
University of California, San Diego

General Discussion

Housing and Monetary Policy

Panelists:

STEFAN INGVES
Governor
Sveriges Riksbank

KAZUMASA IWATA
Deputy Governor
Bank of Japan

JOHN B. TAYLOR
Professor
Stanford University and Senior Fellow, Hoover Institution

General Discussion

Overview and Concluding Remarks

MARTIN FELDSTEIN
President and Chief Executive Officer
National Bureau of Economic Research

Participants