25th Annual Conference on Macroeconomics.

• Position: Conferences - Conference news

The NBER's Twenty-fifth Annual Conference on Macroeconomics, organizer by Research Associates Daron Acemoglu of MIT and Michael Woodford of Columbia University, took place in Cambridge on April 9 and 10. These papers were discussed:

* Rong Qian, University of Maryland; Carmen Reinhart, University of Maryland and NBER; and Kenneth Rogoff, Harvard University and NBER, "On Graduation from Default, Inflation and Banking Crises: Elusive or Illusion?"

* Gauti Eggertsson, Federal Reserve Bank of New York, "What Fiscal Policy is Effective at Zero Interest Rates"

* Adam Ashcraft, Federal Reserve Bank of New York; Nicolae Garleanu, University of California, Berkeley and NBER; and Lasse Heje Pedersen, New York University and NBER, "Two Monetary Tools: Interest Rates and Haircuts"

* Diego A. Comin...