Savings and Risks: Micro and Macro Perspectives

Monday 19 and Tuesday 20 December 2016 

Organised by Richard Blundell (UCL and IFS), Mariacristina De Nardi (UCL, IFS, Federal Reserve Bank of Chicago, and NBER), and Eric French (UCL and IFS).

Monday, 19 December

09:00 - 10:00 Registration, coffee and pastries
  Session I. Chair: Fumio Hayashi (National Graduate Institute for Policy Studies)
10:00 - 11:00 Eric French (UCL and IFS) “The Effect of Disability Insurance on Labor Supply: A Dynamic Analysis,” with Jae Song
11:00 - 11:15 Break 
11:15 - 12:15 Timothy Kehoe (University of Minnesota) “Aging and the Macroeconomy,” with Juan Carlos Conesa, Daniela Costa, Parisa Kamali, Vegard Nygard, Gajendran Raveendranathan and Akshar Saxena
12:15 - 12:30 Break 
12:30 - 13:30 Victor Rios Rull (University of Pennsylvania) “Health, Consumption, and Inequality,” with Jay H. Hong and Josep Pijoan-Mas.
13:30 - 14:30 Lunch

Session II. Chair: Michela Tincani (UCL and IFS)

14:30 - 15:30 Hamish Low (University of Cambridge) "Durables, Lemons and Shocks," with Richard Blundell, Ran Gu, Soren Leth-Petersen and Costas Meghir
15:30 - 16:00 Break
16:00 - 17:00 Costas Meghir (Yale University and IFS) “Earnings Dynamics and Firm Level Shocks,” with Ben Friedrich, Lisa Laun and Luigi Pistaferri

Tuesday, 20 December

09:00 - 09:30 Coffee and pastries
  Session III. Chair: Mariacristina De Nardi (UCL, IFS, Federal Reserve Bank of Chicago and NBER)
09:30 - 10:30 Richard Blundell (UCL and IFS) “Earnings and Consumption Dynamics: Nonlinear Persistence and Partial Insurance,” with Manuel Arellano and Stephane Bonhomme
10:30 - 10:45 Break 
10:45 - 11:45 Giulio Fella (QMUL) “The Implications of Richer Earnings Dynamics for Consumption and Wealth,” with Mariacristina De Nardi and Gonzalo Paz Pardo
11:45 - 12:00 Break 
12:00 - 13:00 Luigi Pistaferri (Stanford University)“Heterogeneity and Persistence in Returns to Wealth,” with Andreas Fagereng, Luigi Guiso and Davide Malacrino
13:00 - 14:00 Lunch

Session IV. Chair:  Richard Blundell (UCL and IFS)

14:00 - 15:00 Chris Tonetti (Stanford University) “Late-in-Life Risks and the Under-Insurance Puzzle,” with John Americks, Joseph Briggs, Andrew Caplin, and Matthew D. Shapiro
15:00 - 15:15 Break
15:15 - 16:15 Orazio Attanasio (UCL and IFS) “Village Insurance in a Growing China,” with Costas Meghir, Corinna Mommaerts and Yu Zheng