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System Energy Meeting

November 17, 2016 Houston Branch

Presented by the Federal Reserve Banks of Dallas and Kansas City

Agenda

November 17, 2016

11:30 a.m.

Registration and Lunch

12:00 p.m.

Session 1: Energy and Economic Activity

Chair: Nida C. Melek
Federal Reserve Bank of Kansas City

12:00 p.m.

“The Correlation of Oil and Equity Prices: The Role of the Zero Lower Bound”

Deepa Datta, Benjamin Johannsen, Hannah Kwon and Robert Vigfusson
Federal Reserve Board of Governors

Discussant: Andrew Lee Smith
Federal Reserve Bank of Kansas City

12:45 p.m.

“The Comovement between Carbon Emissions and Output in the United States”

Soojin Jo
Federal Reserve Bank of Dallas

Lilia Karnizova and Francesca Rondina
University of Ottawa

Discussant: Benjamin Johannsen
Federal Reserve Board of Governors

1:30 p.m.

Break

1:45 p.m.

Session 2: Oil Shocks and Macroeconomy

Chair: Soojin Jo
Federal Reserve Bank of Dallas

1:45 p.m.

“Oil Price Elasticities and Oil Price Fluctuations”

Michele Cavallo, Dario Caldara and Matteo Iacoviello
Federal Reserve Board of Governors

Discussant: Martin Stuermer
Federal Reserve Bank of Dallas

2:30 p.m.

“A Macroeconomic Analysis of Lifting the U.S. Crude Oil Export Ban”

Nida Cakir Melek
Federal Reserve Bank of Kansas City

Michael Plante and Mine Yücel
Federal Reserve Bank of Dallas

Discussant: Michael Sposi
Federal Reserve Bank of Dallas

3:15 p.m.

Break

3:30 p.m.

Session 3: Oil and Consumers

Chair: Martin Stuermer
Federal Reserve Bank of Dallas

3:30 p.m.

“Oil Prices and Consumption across Countries and U.S. States”

Matteo Iacoviello
Federal Reserve Board of Governors

Discussant: Nida Cakir Melek
Federal Reserve Bank of Kansas City

4:15 p.m.

“Response of Consumer Debt to Income Shocks: The Case of Energy Development Booms and Busts”

Jason Brown
Federal Reserve Bank of Kansas City

Discussant: Kimberly Bayard
Federal Reserve Board of Governors

5:00 p.m.

Meeting Concludes

6:15 p.m.

Reception and Dinner, Buffalo Bayou Room

6:45 p.m.

Welcome

Daron Peschel
Head of Houston Branch and SVP, Federal Reserve Bank of Dallas

Robert Kaplan
President and CEO, Federal Reserve Bank of Dallas

8:30 p.m.

Adjourn
For More Information

Contact Martin Stuermer at Martin.Stuermer@dal.frb.org.