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            | 9:00 a.m. | Continental breakfast |  
            |  |  
            | 9:30 a.m. |  Stepping on a rake: When monetary policy can cause recessions, but not control inflation
 Christopher Sims, Princeton University
 
  Discussants: John Leahy, New York University
 
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            |  |  
            | 10:40 a.m. |  Coffee break  |  
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            | 11:00 a.m. |  Information Constrained State-Dependent Pricing  
 Michael Woodford, Columbia University
 
  Discussant: Alexander Wolman, Federal Reserve Bank of Richmond
 
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            |  |  
            | 12:10 p.m. |  Lunch  |  
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            | 1:20 p.m. |  Aggregation and the PPP Puzzle in a Sticky Price Model  
 Carlos Carvalho, Federal Reserve Bank of New York
 Fernanda Nechio, Princeton University
 
  Discussant: Roberto Chang, Rutgers University
 
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            |  |  
            | 2:30 p.m. |  Coffee break 
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            |  |  |  
            | 2:50 p.m. |  Robust Learning Stability with Operational Monetary Policy Rules  
 George Evans, University of Oregon
 Seppo Honkapohja, University of Cambridge and Bank of Finland
 
  Discussant: Stefano Eusepi, Federal Reserve Bank of New York
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            |  |  |  
            | 4:00 p.m. | Coffee break |  
            |  |  |  
            | 4:20 p.m. |  Macroeconomic Dynamics in the Euro Area  
 Jean Boivin, HEC Montreal
 Marc Giannoni, Columbia University
 Benoit Mojon, Federal Reserve Bank of Chicago and ECB
 
  Discussant: Alexei Onatski, Columbia University
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            |  |  |  
            | 5:30 p.m. | Adjourn  |  
            |  |  |  |