14th Annual Conference on General Equilibrium and its Applications

Friday & Saturday, April 27 - 28, 2018

Yale School of Management 
Evans Hall, 165 Whitney Ave., Room 2200 [Map]


Alessandro Citanna, Ana Fostel, John Geanakoplos, Felix Kubler, Matteo Maggiori,

Herakles Polemarchakis, Paolo Siconolfi


Friday, April 27
8:30am to 9:30am Registration and Breakfast
9:30am to 10:20am David Andolfatto (Federal Reserve Bank of St. Louis), and (Simon Fraser University), Aleksander Berensten (University of Basel), *Fernando M. Martin (Federal Reserve Bank of St. Louis), "Money, Banking and Financial Markets"
10:20am to 11:10am Pierpaolo Beningo (LUISS), and (EIEF), *Roberto Robatto (University of Wisconsin - Madison), "Private Money Creation and Equilibrium Liquidity"
11:10am to 11:40am Coffee Break
11:40am to 12:30pm *Gaetano Bloise (Yeshiva University), Herakles Polemarchakis (University of Warwick), Yiannis Vailakis (University of Glasgow), "Sustainable Debt"
12:30pm to 2:00pm Lunch
2:00pm to 2:50pm Ricardo J. Caballero (Massachusetts Institute of Technology), *Alp Simsek (Massachusetts Institute of Technology), "A Risk-centric Model of Demand Recession and Macroprudential Policy"
2:50pm to 3:40pm Sebastian Di Tella (Stanford University), "A Neoclassical Theory of Liquidity Traps" [Paper]
3:40pm to 4:10pm Coffee Break
4:10pm to 5:00pm Narayana R. Kocherlakota (University of Rochester), "Bounds on Price Setting" [Paper]
6:30pm to 9:00pm Dinner - John Davenport's, Omni Hotel [Map]
Saturday, April 28
8:30am to 9:30am Breakfast
9:30am to 10:20am Piero Gottardi (European University), *Vincent Maurin (Stockholm School of Economics), Cyril Monnet "A Theory of Repurchase Agreements, Collateral Re-use, and Repo Intermediation" [Paper]
10:20am to 11:10am *Sebastian Infante (Federal Reserve Board), Alexandros Vardoulakis (Federal Reserve Board), "Collateral Runs"
11:10am to 11:40am Coffee Break
11:40am to 12:30pm *Zhiguo He (University of Chicago Booth), Arvind Krishnamurthy (Stanford University), Konstantin Milbradt (Kellog School of Management at Northwestern), "A Model of Safe Asset Determination"
12:30pm to 2:00pm Lunch
2:00pm to 2:50pm *Semyon Malamud (Swiss Finance Institute), Andreas Schrimpf (Bank for International Settlements), "An Intermediation-Based Model of Exchange Rates" [Paper]
2:50pm to 3:40pm *Ricardo Lagos (New York University), Shengxing Zheng (London School of Economics), "On Money as a Medium of Exchange in Near-Cashless Credit Economies" [Paper]

Conference Participants

Daisuke Adachi (Yale University)
Fernando Martin (Federal Reserve Bank of St. Louis)
Andrey Alexandrov (Universität Mannheim)
Vincent Maurin (Stockholm School of Economics)
Beth Allen (University of Minnesota)
Daniel Murphy (University of Virginia)
Noriko Amano Patino (Yale University)
Ahyan Panjwani (Yale University)
George-Marios Angeletos (MIT)
Udara Peiris (Higher School of Economics)
Vladimir Asriyan (CREI)
Gregory Phelan (Williams College)
Gaetano Bloise (Yeshiva University)
Herakles Polemarchakis (University of Warwick)
William Brainard (Yale University)
Martine Quinzii (University of California, Davis)
Ricardo Caballero (MIT)
David Rappoport (Federal Reserve Board)
Luis Fabiano Carvalho Monteiro (Yale University)
Ehraz Refayet (Office of the Comptroller of the Currency)
Jin-Wook Chang (Yale University)
Roberto Robatto (University of Wisconsin - Madison)
Matt Darst (Federal Reserve Board)
Chase Ross (Yale University)
Eduardo Davila (New York University Stern)
Catherine Rouzaud (Université Paris-Est)
Julio Davila Muro (Université Catholique de Louvain)
Paolo Siconolfi (Columbia University)
Sebastian Di Tella (Stanford University)
Alp Simsek (MIT)
Anastasios Dosis (ESSEC)
Ross Starr (University of California, San Diego)
Ana Fostel (University of Virginia)
Alexis Akira Toda (University of California, San Diego)
John Geanakoplos (Yale University)
Dimitri Tsomocos (University of Oxford)
Brian Greaney (Yale University)
Yiannis Vailakis (University of Glasgow)
Fabian Greimel (Universität Mannheim)
Alexandros Vardoulakis (Federal Reserve Board)
Kinda Hachem (University of Chicago Booth)
Kieran Walsh (University of Virginia)
Zhiguo He (University of Chicago Booth)
Xinyang Wang (Yale University)
Joachim Hubmer (Yale University)
Jan Werner (University of Minnesota)
Sebastian Infante (Federal Reserve Board)
Tianhao Wu (Yale University)
Narayana Kocherlakota (University of Rochester)
Xiaochuan Xing (Yale University)
Claudio Kretz (Universität Mannheim)
Ji Yan (University of Oxford)
Felix Kubler (University of Zürich)
Sharon Yin (Yale University)
Antzelos Kyriazis (Yale University)
Eric Young (University of Virginia)
Ricardo Lagos (New York University)
Frederick Zadow (Universität Mannheim)
Michael Magill (Art Institute of Southern California)
Luca Zavalloni (University of Warwick)
Semen Malamud (EPFL)
Tong Zhang (Yale University)
Raghav Malhotra (University of Warwick)

Conference Frequently Asked Questions

Yale provides visitors two Wi-Fi network options:

  • YaleGuest
  • Eduroam

YaleGuest is a public, insecure wireless network available for anyone’s use, but has limited network access. Due to security reasons, certain programs and functionality may not be accessible via the YaleGuest network, e.g., Dropbox, Skype, and Box.  

If possible, we recommended you use the Eduroam wireless network.  Eduroam (education roaming) is a secure, world-wide roaming access service that allows students, researchers and staff from participating institutions to obtain Internet connectivity across campuses when visiting other participating institutions.

If your institution is a partneraccess the Eduroam network by selecting Eduroam from the Wi-Fi list on your mobile device and sign-in using your home institution’s credentials*. View Eduroam’s complete listing of U.S. participating schools; International visitors can look for institutional listings on this country page.

For additional details, please contact your institution’s IT department or search your institution’s support page.

*Credential format is typically ID@UniversityName.edu, e.g., YaleNetID@yale.edu or SUNetID@win.stanford.edu

The conference will be held at the Yale School of Management (SOM), Evans Hall located at 165 Whitney Ave and is about a 15 minute walk from the Omni Hotel. The easiest route to SOM from the Omni Hotel is to go north on Temple St. which merges into Whitney Avenue. SOM will be on the right side of the street across from the Peabody Museum (see map below).


For travel expense reimbursement for the General Equilibrium Conference, please send the following items by Friday, May 18, 2018.

For travel expense reimbursement for the Cowles Summer Conferences, please send the following items by Friday, September 7, 2018.






Send original receipts, completed travel reimbursement form, and applicable international forms to:

Darlene Smith
Event & Visitor Assistant Administrator
Cowles Foundation at Yale University
30 Hillhouse Avenue
P.O. Box 208281
New Haven, CT 06520

Email questions to Darlene Smith

Yale and New Haven offer many attractions to bide your time while in the Elm City. Below is a list of a few:

Yale Attractions

New Haven Attractions

Use the Yale online campus map to help find your way around.

If you need assistance with an Omni Hotel room reservation, please contact Alyson Perri, Convention Services Manager, Omni Hotels.

In cases of emergency, contact the appropriate department listed below:

Yes, a shuttle bus will be arranged to drive between the hotel and conference location. Typically, an announcement will be sent out from Darlene Smith the day before with additional information.