International seminar on macroeconomics.

• Position: Conferences

The NBER's 28th Annual International Seminar on Macroeconomics (ISOM), organized by Jeffrey A. Frankel, NBER and Harvard University, and Christopher Pissarides, London School of Economics, was held on June 17-18 at the Magyar Nemzeti Bank (Central Bank of Hungary) in Budapest. Francesco Giavazzi, NBER and Bocconi University, serves as co-chair of ISOM with Frankel. The following papers were discussed at the conference:

Tito Boeri and Pietro Garibaldi, Bocconi University, "Shadow Sorting'"

Discussants: Robert E. Hall, NBER and Stanford University, and Christopher Pissarides

Yann Algan, Universite Marne la Vallee, and Pierre Cahuc, Universite Paris 1, "The Roots of Low European Employment: Family Culture?"

Discussants: Tito Boeri, and Alessandra Fogli, New York University

Marianne Baxter and Robert King, NBER and Boston University, "Fiscal Externalities and Optimal Taxation in an Economic Community"

Discussants: Pierpaolo Benigno, NBER and New York University, and Francesco Giavazzi

Balazs Vilagi, Magyar Nemzeti Bank, "Dual Inflation and the Real Exchange Rate in New Open Economy Macroeconomics"

Discussants: Richard Clarida, NBER and Columbia University, and Refet Gurkaynak, Federal Reserve Board

Prakash Loungani, IMF, and Assaf Razin, NBER and Tel Aviv University, "Globalization and Disinflation: The Efficiency Channel"

Discussants: Robert King...