INET Seminar Series at Columbia University

Fall 2018

August 29: Macroeconomic Efficiency and Stability Taskforce Annual Meeting


Spring 2018

April 23-24: Conference on Financial Networks: Big Risks, Macroeconomic Externalities, and Policy Commitment Devices 

Chaired by Agostino Capponi and Joseph E. Stiglitz


Fall 2017

First Session on Inequality in memory of Tony Atkinson, September 19 , Uris 330, 5:00-7:45pm

At a time when distributional concerns did not have much place in academic economics, Tony Atkinson’s work brought them to the forefront as the key question in public policy. His influence can be seen in the work of a generation of economists whom he inspired, not just with the tools to understand the economics of poverty and inequality, but also by bringing these topics to the mainstream discourse.

The first Fall 2017 INET Seminar at Columbia is dedicated to Tony. We will remember him by discussing recent research on the nature and causes of firm-level inequality in the United States, and theory on optimal capital taxation. Details of the agenda are below.

Introductory remarks by Prof. Joseph Stiglitz

Speaker 1: Simcha Barkai (London Business School), “Declining Labor and Capital Shares”
Discussant: Sangeeta Pratap (Hunter College)

Speaker 2:  David Price (Princeton University), “Firming Up Inequality”
Discussant: Lin Peng (Barruch College)

Speaker 3: Joseph Stiglitz (Columbia University), “The Optimal Tax on Capital is Greater than Zero”

Closing Remarks by Janet Gornick (City University of New York)



Spring 2017

First Session, April 19, 5:30-7:30pm, at Uris 303 

Speaker 1: Karla Hoff (World Bank), “Can the Culture of Honor Lead to Inefficient Conventions? Experimental Evidence from India” (joint with Benjamin Brooks and Priyanka Pandey)
Discussant:  Suresh Naidu (Columbia University)

Speaker 2:  Suresh Naidu (Columbia University), “Unions and Inequality in Historical Perspective”
Discussant: Stephanie Luce (CUNY)


Fall 2016

First Session, September 26, 5-7pm, at Warren 207 

Speaker 1: Levent Altinoglu (Columbia University and Federal Reserve Board of Governors), “The Origins of Aggregate Fluctuations in a Credit Network Economy”
Discussant: Maryam Farboodi (Bendheim Center for Finance, Princeton University)

Speaker 2: Selman Erol (MIT), “Network Hazards and Bailouts”
Discussant: Michael Junho Lee (NY Fed)

Second Session, October 21, 5-7:00pm, at Hepburn Lounge (Uris Hall)

Speaker 1: Olivier Giovannoni (Bard College), “Old and New Directions in Income Distribution” 
Discussant: Mark Setterfield (The New School for Social Research)

Speaker 2: Ignacio González (Columbia University and American University), “Tobin’s Q and Inequality”
Discussant: Leila Davis (Middlebury College)

Third Session, November 28, 5:45-7:45pm, at Calder Lounge (Uris Hall)

Speaker 1: Gabriel Chodorow-Reich (Harvard University), “The Limited Macroeconomic Effects of Unemployment Benefit Extensions” (joint with Loukas Karabarbounis)
Discussant: Andreas Mueller (Columbia University GSB)

Speaker 2: Thibaut Lamadon (University of Chicago), “Productivity Shocks, Long-term Contracts, and Earning Dynamics”
Discussant: Katarina Borovickova (NYU)

Spring 2016

First session: Monday February 22 at Columbia Business School Hepburn Lounge, 5-7pm

Speaker 1: Markus Brunnermeier (Princeton University), “The I Theory of Money” (joint with Yuliy Sannikov)
Discussant: Alexi Savov (NYU Stern School of Business)

Speaker 2: Alp Simsek (MIT), “The Choice Channel of Financial Innovation” (joint with Felipe Iachan and Plamen Nenov)
Discussant: Martin Guzman (Columbia University)

Second session: Monday April 4 at Warren Hall Room 416, 5-7pm

Speaker 1: Anton Korinek (Johns Hopkins University), “Risk-Taking Dynamics and Financial Stability” (joint with Martin Nowak)
Discussant: Jarda Borovicka (NYU)

Speaker 2: Wei Xiong (Princeton University), “Credit Expansion and Neglected Crash Risk” (joint with Matthew Baron)
Discussant: Alexi Savov (NYU Stern School of Business)

Fall 2015

First Session, September 21, 5-7pm, Hepburn Lounge, Uris Hall

Chair: Rob Johnson (INET, President)

Speaker: Nacho Alvarez (Professor of Applied Economics, University of Valladolid; Economic Secretary, Podemos, Spain), “Podemos’ Economic Program: Abandoning Austerity and Transforming Growth”

Discussant 1: James Galbraith (University of Texas at Austin)
Discussant 2: Martin Guzman (Columbia University)
Discussant 3: Tano Santos (Columbia University)
Discussant 4: Joseph E. Stiglitz (Columbia University)

Second Session, October 20, 5-7pm, Calder Lounge, Uris Hall

Speaker 1: Branko Milanovic (CUNY), “The Kuznets Waves: Explaining the Evolution of within-country Inequality over the very long term”
Discussant: Suresh Naidu (Columbia University)

Speaker 2: Wenjie Zhang (University of Texas), “Has China crossed the threshold of the Kuznets curve?”
Discussant: Akbar Noman (Columbia University IPD)

Speaker 3: Venkat Venkatasubramanian (Columbia University), “How much Income Inequality is Fair?”
Discussant: Rajiv Sethi (Barnard College, Columbia University)

Third Session, November 9, 6-8pm, Calder Lounge, Uris Hall

Speaker 1: Jonathan Kreamer (Columbia University), “Sectoral Capital Flows and Monetary Policy”
Discussant: Andrea Tambalotti (Federal Reserve Bank of New York)

Speaker 2: Gauti Eggertsson (Brown University), “A Contagious Malady: Open Economy Dimensions of Secular Stagnation” (joint with Neil Mehrotra, Sanjay Singh, and Lawrence Summers)
Discussant: Emmanuel Farhi (Harvard University)

Spring 2015

First session, INET-CUNY Seminar: Friday March 27 at Columbia Business School Calder Lounge, 5-7pm

Speaker 1: Branko Milanovic (CUNY), “Inequality is Bad for Growth of the Poor (but not for that of the Rich)” –and additional material
Discussant: Anwar Shaikh (The New School for Social Research)

Speaker 2: Sanjay Reddy (The New School for Social Research), “The Global Consumption and Income Project: An Introduction and Preliminary Findings” — [SLIDES] –Note: Prof. Reddy will present some new results not discussed in the existing paper
Discussant: Adel Daoud (University of Gothenburg)

Second session: Thursday April 16, 3-5pm at Grace Dodge Hall, 3rd Floor Room 363 (525 West 120th Street New York, NY 10027)

Speaker 1: Stefano Battiston (University of Zurich), “The Price of Complexity in Financial Networks”
Discussant: Agostino Capponi (Columbia University)

Speaker 2: Jennifer La’O (Columbia University), “Financial Frictions in Production Networks”
Discussant: Alireza Tahbaz-Salehi (Columbia University)

Speaker 3: Alireza Tahbaz-Salehi (Columbia University), “Supply Chain Disruptions: Evidence from the Great Tohoku Earthquake”
Discussant: Michael Peters (Yale University)

Fall 2014

First session: October 1 at Calder Lounge Room Uris Hall, 4:45-6:45pm

Speaker 1: Tomohiro Hirano (University of Tokyo), “Lean versus Clean in a Rational Bubble Model”
Discussant: Toan Phan (University of North Carolina)

Speaker 2: Patrick Bolton (Columbia University), “Investment under Uncertainty and the Value of Real and Financial Flexibility”
Discussant: Ricardo Reis (Columbia University)

Second session: December 4 at Room 140 Warren 311, 6-8pm

Keynote Speaker: Joseph Stiglitz (Columbia University), “New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals”
Discussants: Duncan Foley (The New School for Social Research), Paul Krugman (Princeton University), and Branko Milanovic (CUNY)

Spring 2014

First session: January 29 at Helpbourn Lounge Room Uris Hall, 5-8pm

Speaker 1: Ricardo Reis (Columbia University), “Can the United States Inflate Away its Fiscal Problems?”
Discussant: Richard Clarida (Columbia University)

Speaker 2: Katharina Pistor (Columbia University), “The Legal Theory of Finance”
Discussant: Sanjay Reddy (The New School for Social Research)

Second session: March 10 at Room 140 Uris Hall, 5-8pm

Speaker 1: Duncan Foley and Lance Taylor (The New School for Social Research), “Greenhouse Gas and Cyclical Growth”
Discussant: Scott Barrett (Columbia University)

Speaker 2: Michael Woodford (Columbia University), “An Optimizing Neuroeconomic Model of Discrete Choice”
Discussant: Jón Steinsson (Columbia University)

Third session: April 21 at Calder Lounge – Uris Hall, 5-8pm

Speaker 1: Pier-André Bouchard St-Amant (Institute for New Economic Thinking), “Network Rigidities and the Business Cycle”
Discussant: Alireza Tahbaz-Salehi (Columbia University)

Speaker 2: Randall Wray (University of Missouri-Kansas City and Levy Economics Institute), “Financing the Capital Development of the Economy: A Keynes-Schumpeter-Minsky Synthesis”
Discussant: José Antonio Ocampo (Columbia University)

Fall 2013

First session: October 7 at Faculty House Presidential Room 4-6pm

Speaker 1: David Weinstein (Columbia University), “How Much do Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data”
Discussant: Bruce Greenwald (Columbia University)

Speaker 2: Pavlina Tcherneva (Bard College – The Levy Economics Institute), “Reorienting Fiscal Policy: A Critical Assessment of Fiscal Fine-Tuning”
Discussant: Mike Konczal (Roosevelt Institute)

Speaker 3: Joseph Stiglitz (Columbia University), “Theory of Pseudo-Wealth and Macroeconomic Fluctuations”
Discussant: Martin Guzman (Columbia University)

Second session: October 24 at International Affairs Building 1027 4-6pm

Speaker 1: Bilge Erten (Columbia University), “Capital Account Regulations, Foreign Exchange Pressure, and Crisis Resilience”
Discussant: Stephany Griffith-Jones (Columbia University IPD)

Speaker 2: Rajiv Sethi (Barnard College, Columbia University), “The Cost of Identity”
Discussant: Suresh Naidu (Columbia University)

Speaker 3: Saki Bigio (Columbia University), “Banks, Liquidity Management, and Monetary Policy”
Discussant: Joseph Stiglitz (Columbia University)

Third session: December 10 at International Affairs Building 1027 4-6pm

Speaker 1: Roman Frydman (New York University), “The Contingent Expectations Hypothesis: Conditional Rationality in Macroeconomics and Finance Theory”
Discussant: Martin Guzman (Columbia University)

Speaker 2: Xabier Gabaix (New York University), “A Sparsity-Based Model of Bounded Rationality, Applied to Basic Consumer and Equilibrium Theory”
Discussant: Ricardo Reis (Columbia University)