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2012 - Programme Household Finances and Behaviour in Times of Crisis

Thursday, 25 October 2012
Opening by Klaas Knot, President of De Nederlandsche Bank (DNB)

SESSION I: Crisis, Older Households, and Pensions

Chair: Klaas Knot, President of DNB
Rowena Crawford (Institute for Fiscal Studies)  Presentation
'The Effect of the Financial Crisis on Older Households in England'
Discussant: Maarten van Rooij (DNB) Discussion
Federica Teppa  (DNB) Presentation
'Is Information Overrated? Evidence from the Pension Domain'
Discussant: Mark Schweitzer (Federal Reserve Bank of Cleveland)
Keynote Address: Karen Dynan (Brookings Institution)  Presentation
'The U.S. Debt Overhang
Chair: Jan Marc Berk, Director of Economics and Research of DNB 

SESSION II: Financial Innovation and Crisis

Chair: Jan Marc Berk, Director of Economics and Research of DNB
John V. Duca  (Federal Reserve Bank of Dallas)  Presentation
'How Financial Innovations and Accelerators Drive Booms and Busts in U.S. Consumption'
Discussant: Dimitris Christelis (University of Naples Federico II)   Discussion
Jean-Paul L'Huillier (Einaudi Institute for Economics and Finance)  Presentation
'Technological Revolutions and Debt Hangovers: Is There a Causal Link?'
Discussant: Vincent Sterk (University College London) 
Friday, 26 October 2012  

SESSION III: Saving and Households™ Financial Vulnerability

Chair: Jakob de Haan, Head of Research of DNB
Christoph Basten  (ETH Zürich/KOF Swiss Economic Institute)
'Saving and Portfolio Allocation Before and After Job Loss'
Discussant: Dimitris Georgarakos (Goethe University Frankfurt)   Discussion
Thomas Crossley  (University of Cambridge, Koç University and Institute for Fiscal Studies)  Presentation
'Saving on a Rainy Day, Borrowing for a Rainy Day'
Discussant: Michael Haliassos (Goethe University Frankfurt)  Discussion
Keynote Address: Tullio Jappelli (University of Naples Federico II)  Presentation
'Wealth Shocks, Unemployment Shocks and Consumption in the Wake of the Great Recession'
Chair: Job Swank, Executive Director of DNB

SESSION IV:  Labour and Housing Market Shocks

Chair: Job Swank, Executive Director of DNB
Susann Rohwedder  (RAND)
'Consumption Smoothing During the Financial Crisis: The Effect of Unemployment on Household Spending'
Discussant: Henriette Prast (Tilburg University)   Discussion
Robert Kelly (Central Bank and Financial Services Authority of Ireland )
'House Prices, Unemployment and Irish Mortgage Losses'
Discussant: Ernesto Villanueva (Banco de España)  Discussion