16th Annual Conference on General Equilibrium & John Geanakoplos' 65th Yale School of Management, 165 Whitney Avenue, Room 2400

Friday, Saturday and Sunday September 30 - October 2, 2022


Ana Fostel, Herakles Polemarchakis, Felix Kubler, Stephen Morris, and Paul Willen


Friday, September 30

Registration and Lunch


Opening Remarks

2:00pm Guido Lorenzoni* (Northwestern University), Ivan Werning (Massachusetts Institute of Technology), “Wage Price Spirals”
2:50pm Marios Angeletos* (Massachusetts Institute of Technology), Chen Lian (University of California, Berkeley), “Determinacy without the Taylor Principle” [Paper]
3:40pm Coffee Break
4:10pm Ivan Werning* (Massachusetts Institute of Technology), Emmanuel Farhi (Harvard University), “Taming a Minsky Cycle”
5:00pm Martin Schmalz (University of Oxford), William R. Zame* (University of California, Los Angeles), “Index Funds, Asset Prices, and the Welfare of Investors and Consumers”
7:30pm Dinner - The Yale Graduate Club, 155 Elm Street
Saturday, October 1


9:30am Eduardo Dávila (Yale University), Ansgar Walther* (Imperial College London), “Prudential Policy with Distorted Beliefs”
10:20am Coffee Break
10:40am Markus Brunnermeier (Princeton University), Sebastian Merkel* (Princeton University), Yuliy Sannkov (Stanford Graduate School of Business), “Debt as Safe Asset” [Paper]
11:30am Ricardo Caballero (Massachusetts Institute of Technology), Alp Simsek* (Yale University), “A Monetary Policy Asset Pricing Model”
12:20pm Lunch
2:00pm Maryam Farboodi* (Massachusetts Institute of Technology), Péter Kondor (London School of Economics), “Cleansing by Tight Credit: Rational Cycles and Endogenous Lending Standards” [Paper]
2:50pm Nicolae Garleanu (University of California, Berkeley), Stavros Panageas* (University of California, Los Angeles), Geoffrey Zheng (New York University), “A Long and a Short Leg Make for a Wobbly Equilibrium” [Paper]
3:40pm Coffee Break
4:10pm Xavier Gabaix* (Harvard University), Ralph S.J. Koijen (University of Chicago Booth), “In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis” [Paper]
5:00pm Jeremy Bulow* (Stanford Graduate School of Business), Paul Klemperer (University of Oxford), “Misdiagnosing Bank Capital Problems” [Paper]

Cocktails and Dinner - Union League Cafe, 1032 Chapel Street
Lawrence H. Summers: “A Summing Up”

Sunday, October 2


9:00am Omer Tamuz (California Institute of Technology), “Private Private Information”[Paper]
9:50am Costis Daskalakis “Games with Non-Concave Utilities and Machine Learning” [Paper] [Abstract]
10:40am Coffee Break
11:00am J. Doyne Farmer (University of Oxford), “Recent Progress in Disequilibrium Economics”
11:50am Michael Woodford (Columbia University), “Cognitive Imprecision and Stake-Dependent Risk Attitudes”

Lunch & Adjourn

Participant List

Andrey Alexandrov
(Princeton University)

Robert Anderson
University of California, Berkeley)

Veli Murat Andirin
(Yale University)

George-Marios Angeletos
(Massachusetts Institute of Technology)

Aloisio Araujo

Carles Aules Blancher
(Yale University)

Jinhui Bai
(Washington State University)

Dirk Bergemann
(Yale University)

David Bishop
(Yale University)

Gaetano Bloise
(University of Rome II)

Adam Brandenburger
(New York University)

Jeremy Bulow
(Stanford Business School)

Guillermo Carranza Jordan
(Yale University)

Andres Carvajal
(University of California Davis)

Jin-Wook Chang
(Federal Reserve Board)

Matt Darst
(Federal Reserve Board)

Constantinos Daskalakis

Eduardo Davila
(Yale University)

Julio Dávila
(Nazarbayev University)

Robert Dimand
(Brock University)

Olivia Ding
(Yale University)

Chuan Du
(Bank of England)

Pradeep Dubey
(Stony Brook University)

Darrell Duffie
(Stanford University)

Ronel Elul
(Federal Reserve Bank of Philadelphia)

Jose-Antonio Espin-Sanchez
(Yale University)

Maryam Farboodi
(Massachusetts Institute of Technology)

J. Doyne Farmer
(University of Oxford)

Pedro Feijo de Moraes
(Yale University)

Xavier Gabaix
(Harvard University)

Nicolae Garleanu
(Washington University in St. Louis)

John Geanakoplos
(Yale University)

Piero Gottardi
(University of Essex)

Daniel Graves
(Yale University)

Peter Jan Jacob Herings
(Tilburg University)

Jackson Howell
(Yale University)

Philip Kalikman
(Yeshiva University)

Sid Kankanala
(Yale University)

Cheolhwan Kim
(Yale University)

Ivan Klenovskiy
(Yale University)

Al Klevorick
(Yale University)

Peter Kondor
(London School of Economics)

Samuel Kortum
(Yale University)

Felix Kubler
(University of Zurich)

Shoki Kusaka
(Yale University)

Antzelos Kyriazis
(Yale University)

Yingkai Li
(Yale University)

Chen Lian
(University of California, Berkeley)

Ilse Lindenlaub
(Yale University)

Guido Lorenzoni
(University of Chicago Booth)

Raghav Malhotra
(University of Warwick)

Peter Matthews
(Middlebury College/Aalto University)

Andrew McLennan
(University of Queensland)

Sebastian Merkel
(University of Exeter)

Enrico Minelli
(Univerità di Brescia)

Humberto Moreira
(Fundação Getulio Vargas)

Stephen Morris
(Massachusetts Institute of Technology)

Giuseppe Moscarini
(Yale University)

Emre Ozdenoren
(London Business School)

Stavros Panageas
(University of California, Los Angeles)

Ahyan Panjwani
(Federal Reserve Board)

David Pearce
(New York University)

Michael Peters
(Yale University)

Gregory Phelan
(Williams College and Office of Financial Research Treasury)

Tito Pietra
(Università di Bologna)

Ferdinand Pieroth
(Yale University)

Sebastian Poledna
(International Institute for Applied Systems Analysis, IIASA)

Herakles Polemarchakis
(University of Warwick)

Marta Prato
(Yale University)

Christina Qiu
(Yale University)

David Rappoport
(Federal Reserve Board)

Kentaro Sakata
(Yale University)

Larry Samuelson
(Yale University)

Paolo Siconolfi
(Columbia Business School)

Alp Simsek
(Yale School of Management)

Tony Smith
(Yale University)

Lawrence H. Summers
(Harvard University)

Omer Tamuz
(California Institute of Technology)

Songyuan Teng
(Yale University)

Alexis Akira Toda
(University of California, San Diego)

H. Alperen Tosun
(University of Warwick)

Agustin Troccoli Moretti
(University of Warwick)

Dimitrios Tsomocos
(SAID Business School and St. Edmund Hall, University of Oxford)

Diana Van Patten
(Yale University)

Stephan Waizmann
(Yale University)

Kieran Walsh
(ETH Zurich)

Ansgar Walther
(Imperial College London)

Xinyang Wang

Marek Weretka
(University of Wisconsin-Madison)

Paul Willen
(Federal Reserve Bank of Boston)

Mai Wo
(Yale University)

Michael Woodford
(Columbia University)

Nicholas Wu
(Yale University)

Wei Xiang
(Yale University)

Xiaochuan Xing
(Balyasny Asset Management L.P.)

Chenping Yang
(Yale University)

Seung Yong Yoo
(Yale University)

William Zame
(University of California, Los Angeles)

Geoffery Zheng
(New York University Shanghai)

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 20 minute walk from the Blake Hotel. The easiest route to SOM from the Blake Hotel is to go south-east on George Street and turn left on Temple St. Temaple will merge into Whitney Avenue. SOM will be on the right side of the street across from the Peabody Museum (see map below).

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).

Travel expense reimbursement for the 2022 Cowles GE Conference is due by Friday, December 16, 2022.


  • Complete the appropriate online conference travel reimbursement form (These online forms allow you to upload any/all relevant forms and receipts which will be bundled together as one document):
  • Please upload any/all receipts for airfare (economy only)/rail and ground transportation. Receipts must be itemized and show proof of payment (i.e., if paid by credit card the receipt should show the last 4 digits of the credit card).

Note, vouchers for previously canceled or unrelated travel cannot be reimbursed if used to pay for any Cowles related travel.





Email or 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


The conference sessions are held on the second floor in Evans Hall at the Yale School of Management. Restrooms can be found on the perimeter of the building along the sides and back of the building.

Click to enlarge

The Cowles Foundation is located in the heart of Yale’s campus at 30 Hillhouse Avenue.  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:

You can also report a crime or send an anonymous text tip through our Bulldog Mobile (LiveSafe) app. (To register for Bulldog Mobile please visit the Yale LiveSafe page)

For addtional emergency information, visit the Yale Emergency Management website.

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.