I think the freshwater people are pretty religious about their school. I work at a Fed. The economist I work (and a couple others) for is a Phd from Minnesota. There are also a whole bunch from Penn and Rochester. Our seminars, conferences and visiting scholars are dominated by the likes of Sargent, Rios-Rull, Wright, Kehoe(s), McGrattan, Kocherlakota, Manuelli, Shimer and the list goes on. Basically, it seems like the Penn/Minnesota/Rochester/NYU/UCLA people interact in the same circes.
In fact, when I chose to go to Brown, I think many economist here did not look at it very favorably like I was defecting to the enemies camp! Hehe..