Understanding the Great Recession: from micro to macro
23 and 24 September 2015, Bank of England.
Wednesday, 23rd September
1.30pm - Coffee and welcome
2.15pm - Opening Remarks: Richard Blundell, UCL & IFS
2.30pm - Session 1: Labour Markets since the crisis
Chair: Robert Wood, HM Treasury
Tito Boeri (Bocconi University and INPS), "Financial frictions, financial shocks and
unemployment volatility: lessons from the Great Recession".
Steve Machin (UCL), “Real wage trends”.
Christian Dustmann (UCL), "Germany and the Great Recession".
4.30pm - Coffee break
5.00pm - Session 2: Speech by Deputy Governor Ben Broadbent
6.00pm - Close
Thursday, 24th September
9.00am - Refreshments
Orazio Attanasio (IFS and UCL), “(S)Cars and the Great Recession”.
Hamish Low (Cambridge University and IFS), “Recovering from recessions: household
consumption over the business cycle”.
Greg Thwaites (BOE), “ The banks that said no: banking relationships, credit supply and
corporate outcomes in the UK”.
John Fernald (Federal Reserve Bank of San Francisco), “The Pre-Global-Financial-Crisis
slowdown in productivity growth.”
12.00pm - Lunch
This event is organised by Richard Blundell (Institute for Fiscal
Studies), Helen Miller (Institute for Fiscal Studies) and Alina Barnett
(Bank of England)
1.00pm - Session 4: Productivity and the allocation of resources
Chair: Helen Miller, IFS
Helen Miller (IFS), “Capital allocation and productivity”.
John Van Reenen (LSE), “Productivity, management and reallocation”.
Rebecca Riley (NIESR and CFM), “Productivity dynamics in the wake of the financial crisis: evidence
from businesses”.
Chiara Criscuolo (OECD), "The future of productivity".
3.00pm - Coffee break
3.30pm - Session 5
Chair: Paul Johnson (IFS)
Keynote Speaker: Robert E. Hall (Stanford University), “Understanding the deep contraction
and slow recovery of the U.S. Economy”.
Panel Discussion: Draw comparisons between developments in the US and UK and discuss
implications for policy.
• Richard Blundell (UCL and IFS)
• Jonathan Haskel (Imperial College)
• James Richardson (HM Treasury)
• Gertjan Vlieghe (MPC, Bank of England)
• Robert E. Hall (Stanford University)
Closing Remarks: Gertjan Vlieghe (MPC, Bank of England)
5.30pm - Close