Macroeconomics Conference on Lumpy Adjustment

June 11 - 12, 2007

Organizers: Ricardo Caballero and Eduardo Engel


12:00 Lunch
1:00 *Mark Zbaracki (NYU), Mark Bergen (Bar-Ilan University), and *Daniel Levy (University of Minnesota), “The Anatomy of a Price Cut: Discovering Organizational Sources of the Costs of Price Adjustment
2:00 *Ariel Burstein (UCLA & NBER) and Christian Hellwig (UCLA), “Prices and Market Shares in a Menu Cost Model
3:00 Break
3:30 Truman Bewley (Yale University), “Report on an Ongoing Field Study of Pricing as it Relates to Menu Costs
4:30 *Jeff Campbell (Federal Reserve Bank of Chicago) and Ben Eden (Vanderbilt University & University of Haifa), “Rigid Prices: Evidence from the U.S. Scanner Data
7:00 Dinner, Scoozzi
8:30 Continental Breakfast
9:00 George Alessandria, Joe Kaboski, and *Virgiliu Midrigan (Federal Reserve Bank of Minneapolis), “Lumpy Trade and Large Devaluations
10:00 *Emmanuel Dhyne (Banque Nationale de Belgique & Universite de Mons-Hainaut), Catherine Fuss (Banque Nationale de Belgique & Universite Libre de Bruxelles), Hashem Pesaran (Cambridge University & University of Southern California), and Patrick Sevestre (Universite Paris 1), “Lumpy Price Adjustments: A Microeconometric Analysis
11:00 Break
11:30 *Dmitry Stolyarov (NYU) and Ennio Stacchetti (University of Michigan), “Obsolescence of Durable Goods and Optimal Consumption
12:30 Lunch
1:30 Russell Cooper (University of Texas, Austin), John Haltiwanger (University of Maryland), and *John Willis (Federal Reserve Bank of Kansas City), “Euler-Equation Estimation for Discrete Choice Models: A Capital Accumulation Application
2:30 Aubhik Khan and *Julia Thomas (Federal Reserve Bank of Philadelphia), “Inflation and Interest Rates with Endogenous Market Segmentation
3:30 Break
4:00 Nick Bloom (Stanford University), “The Impact of Uncertainty Shocks: A Firm-Level Estimation and a 9/11 Simulation” and “Really Uncertain Business Cycles” (with Max Floetotto and Nir Jaimovich)
5:00 Adjourn


Christian Bayer (University of Dortmund)
Santiago Bazdresch (University of Minnesota)
Mark Bergen (University of Minnesota)
Nick Bloom (Stanford University and CEP)
Marco Bonomo (Fundacao Getulio Vargas)
William Brainard (Yale University)
Bjoern Bruegemann (Yale University)
Ariel Burstein (UCLA)
Jeffrey Campbell (Federal Reserve Bank of Chicago)
Carlos Carvalho (Princeton University)
Leif Danziger (Ben-Gurion University)
Emmanuel Dhyne (Banque Nationale de Belgique)
Benjamin Eden (Vanderbilt University)
Francois Gourio (Boston University)
George Hall (Brandeis University)
John Haltiwanger (University of Maryland)
Christopher House (University of Michigan)
Anil Kashyap (University of Chicago)
Aubhik Khan (Federal Reserve Bank of Philadelphia)
Oleksiy Kryvtsov (Bank of Canada)
Daniel Levy (Bar-llan University)
Virgiliu Midrigan (Federal Reserve Bank of Minneapolis)
Giuseppe Moscarini (Yale University)
Emi Nakamura (Harvard University)
Attila Ratfai (Central European University)
Robert Shiller (Yale University)
Anthony Smith (Yale University)
Nancy L. Stokey (University of Chicago)
Dmitriy Stolyarov (University of Michigan)
Julia Thomas (Federal Reserve Bank of Philadelphia)
Antonella Tutino (Princeton University)
Nicolas Vincent (Northwestern University)
Jonathan Willis (Federal Reserve Bank of Kansas City)
Mark Zbaracki (New York University)

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, e.g., or

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).

For travel expense reimbursement for the 2020 Cowles GE Conference, please send the following items by Friday, July 31, 2020.

For travel expense reimbursement for the 2020 Cowles Summer Conferences, please send the following items by Friday, September 11, 2020.


  • 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.