News and Announcements

Why the Government Does Whatever it is that the Government Does

by Anne Ellis | Oct 02, 2017


In 2017, the federal government budgeted $4.1 trillion for expenditures, or roughly 22% of GDP. The goal of this conference is to bring researchers together to discuss the effects of such a large and expanding fiscal budget. How should these expenditures be financed? Should fiscal policy have a role in short-term macroeconomic stabilization? Is there a link between budget deficits and inflation? Broadly, we seek to ask “why the government does whatever it is that the government does (and should they be doing it)?”

Conference participants include:

Zachary Bethune – University of Virginia
Huixin Bi – Kansas City Federal Reserve Bank
Daniel Carroll – Cleveland Federal Reserve Bank
Gabriel Chodorow-Reich – Harvard University
Stefano Eusepi – New York Federal Bank
Mark Huggett – Georgetown University
Finn Kydland – University of California, Santa Barbara
Miguel Mascura – University of Virginia
Kurt Mitman – IIES Stockholm
Dan Murphy – University of Virginia
Gaston Navarro – Federal Reserve Board
Peter Rupert – University of California, Santa Barbara
Gustavo Ventura -  Federal Reserve Board
Kieran Walsh – University of Virginia
Eric Young – University of Virginia

Conference Schedule

*speakers are highlighted in author listings*

Friday, October 6

 9:45-10:00       Welcome

 10:00-11:00     Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned, Gabriel Chodorow-Reich

 11:00-12:00     The Heterogeneous Effects of Government Spending: It's All About Taxes, Gaston Navarro       

 12:00-1:30       Group Photo followed by Lunch Served in Upham Courtyard

 1:30-2:30         The Fiscal Multiplier, Kurt Mitman

 2:30-2:45         Break

 2:45-3:45         Debt Burdens and the Interest Rate Response to Fiscal Stimulus: Theory and Cross-Country Evidence, Dan Murphy

 8:15                 Dinner at Opal Restaurant & Bar, 1325 State Street

Saturday, October 7

10:00-11:00     Sovereign Risk and Fiscal (In)attention: A Look at the U.S. State Default of the 1840s, Huixin Bi

11:00-12:00     Fiscal Foundations of Inflation: Imperfect Knowledge, Stefano Eusepi

12:00-1:30       Lunch Served in Upham Courtyard

1:30-2:30         Taxing Top Earners: A Human Capital Perspective, Mark Huggett

2:30-2:45         Break

2:45-3:45         The Politics of Flat Taxes, Daniel Carroll

3:45-4:00         Break

4:00-5:00         Rethinking the Welfare State or Child-Related Transfers Household Labor Supply and Welfare, Gustavo Ventura

Conference Organizers:  Zachary Bethune and Eric Young