Foreword
THOMAS M. HOENIG
President, Federal Reserve Bank of Kansas City

Symposium Introduction
Brent Bundick, Research Associate and
Gordon H. Sellon Jr., Senior Vice President and Director of Research, Federal Reserve Bank of Kansas City


Opening Remarks:	BEN S. BERNANKE Chairman, Board of Governors of the Federal Reserve System


The Housing Finance Revolution

Authors:	Richard K. Green Professor, George Washington University Susan M. Wachter Professor, University of Pennsylvania

Paper:	The Housing Finance Revolution

Discussant:	William R. White Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements

General Discussion

Understanding Recent Trends in House Prices and Home Ownership

Author:	Robert J. Shiller Professor, Yale University

Paper:	Understanding Recent Trends in House Prices and Home Ownership

Discussant:	Christopher J. Mayer Professor, Columbia University

General Discussion

Housing and the Business Cycle

Author:	Edward E. Leamer Professor, University of California, Los Angeles

Paper:	Housing is the Business Cycle

Discussant:	Frank Smets Deputy Director General, European Central Bank

General Discussion


Introductory Remarks:	DAVID W. WILCOX Deputy Director, Division of Research and Statistics Board of Governors of the Federal Reserve System

Luncheon Address:	Edward M. Gramlich Senior Fellow, Urban Institute


Housing and Consumer Behavior

Author:	John N. Muellbauer Professor, Oxford University

Paper:	Housing, Credit and Consumer Expenditure

Discussant:	Sydney C. Ludvigson Professor, New York University

General Discussion

Housing and the Monetary Policy Transmission Mechanism

Author:	Frederic S. Mishkin Governor, Board of Governors of the Federal Reserve System

Paper:	Housing and the Monetary Transmission Mechanism

Discussant:	James D. Hamilton Professor, University of California, San Diego

General Discussion

Housing and Monetary Policy

Panelists:	Stefan Ingves Governor, Sveriges Riksbank

	Kazumasa Iwata Deputy Governor, Bank of Japan

	John B. Taylor Professor, Stanford University and Senior Fellow, Hoover Institution

General Discussion

Overview and Concluding Remarks

	Martin Feldstein President and Chief Executive Officer, National Bureau of Economic Research

Participants