Twenty-third Annual Conference on Macroeconomics.

• Position: Conferences - National Bureau of Economic Research - Conference news

The NBER's twenty-third Annual Conference on Macroeconomics, organized by NBER Research Associates Daron Acemoglu of MIT, Kenneth Rogoff of Harvard University, and Michael Woodford of Columbia University, took place in Cambridge on April 4 and 5. The program was:

Giuseppe Moscarini, Yale University and NBER, and Fabien Postel-Vinay, University of Bristol, "The Timing of Labor Market Expansions: New Facts and a New Hypothesis"

Discussants: Robert E. Hall, Stanford University and NBER, and Robert Shimer, University of Chicago and NBER

Jean Boivin, HEC Montreal and NBER; Marc P. Giannoni, Columbia University and NBER; and Benoit Mojon, Federal Reserve Bank of Chicago, "Macroeconomic Dynamics in the Euro Area"

Discussants: Lucrezia Reichlin, European Central Bank, and Harald Uhlig, University of Chicago

Quamrul H. Ashraf and Ashley Lester, Brown University, and David N. Weil, Brown University and NBER, "When Does Improving Health Raise GDP?"

Discussants: Hoyt Bleakley, University of Chicago and NBER, and Simon Johnson, IMF and NBER

Jeremy Greenwood, University of Pennsylvania and NBER, and Nezih Guner, Universidad Carlos III de Madrid, "Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households"

Discussants: Stefania Albanesi, Columbia University and NBER, and Justin Wolfers, University of Pennsylvania and NBER

Markus K. Brunnermeier, Princeton University and NBER; Stefan Nagel, Stanford University and NBER; and Lasse H. Pedersen, New York University and NBER, "Carry Trades and Currency Crises"

Discussants: A. Craig Burnside, Duke University and NBER, and Hanno Lustig, University of California, Los Angeles and NBER

Andrew Atkeson, University of California, Los Angeles and NBER, and Patrick J. Kehoe, Federal Reserve Bank of Minneapolis and NBER, "On the Need for a New Approach to Analyzing Monetary Policy" (No abstract is available for this paper.)

Discussants: John H. Cochrane, University of Chicago and NBER, and Bennett T. McCallum, Carnegie Mellon University and NBER

Moscarini and Postel-Vinay document three new facts about aggregate dynamics in U.S. labor markets over the last 15 years, drawing in part from newly available datasets. The new facts concern a strong co-movement between the employer-to-employer worker transition rate, various measures of wages, and the share of employment at large firms. All three remain below trend several years into the expansion. Then, simultaneously...