NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2005

International Finance & Macroeconomics

Enrique Mendoza and Andrew Rose, Organizers

Jeffrey Frankel, Program Director

Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts

July 11-15, 2005

PRELIMINARY PROGRAM

MONDAY, JULY 11:
	Joint meeting with INTER-AMERICAN SEMINAR ON ECONOMICS
	Sebastian Edwards and Roberto Rigobon, Organizers
TUESDAY, JULY 12:
8:30 am	Coffee and Pastries
	Regimes in the Long Run
9:00 am	DAVID BACKUS, New York University and NBER
	GIAN LUCA CLEMENTI and FREDERIC LAMBERT, New York University
	Current Account Fact and Fiction
	Discussants: NOURIEL ROUBINI (slides), New York University and NBER
	RICHARD CLARIDA (slides), Columbia University and NBER
10:20 am	Break
10:40 am	PHILLIPE AGHION, Harvard University and NBER
	PHILIPPE BACCHETTA, Studienzentrum Gerzensee
	ROMAIN RANCIERE, Universitat Pompeu Fabra
	KENNETH ROGOFF, Harvard University and NBER
	Productivity Growth and the Exchange Rate Regime: The Role of Financial Development
	Discussants: ERIC van WINCOOP, University of Virginia and NBER
	ALAN STOCKMAN, University of Rochester and NBER
12:00 n	Lunch and Adjourn
WEDNESDAY, JULY 13:
8:30 am	Coffee and Pastries
	Fiscal and Exchange-Rate Policies in Emerging Economies
9:00 am	MARK AGUIAR, Federal Reserve Bank of Boston
	MANUEL AMADOR, Stanford University
	GITA GOPINATH, University of Chicago and NBER
	Efficient Fiscal Policy and Amplification
	Discussants: CARLOS VEGH, UC, Los Angeles and NBER
	P. MARCELO OVIEDO, Iowa State University
10:20 am	Break
10:40 am	BERNARDO GUIMARAES, London School of Economics
	STEPHEN MORRIS, Yale University
	Risk and Wealth in a Model of Self-Fulfilling Currency Attacks
	Discussants: ROBERTO CHANG, Rutgers University
	AARON TORNELL, UC, Los Angeles and NBER
12:30 pm	Lunch and Adjourn
6:00 pm	Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
THURSDAY, JULY 14:
8:30 am	Coffee and Pastries
	Trading Costs
9:00 am	FERNANDO BRONER, University of Maryland
	JAUME VENTURA, MIT and NBER
	Sovereign Risk, Anonymous Markets, and the Effects of Globalization
	Discussants: RICARDO CABALLERO, MIT and NBER
	MARTIN URIBE, Duke University and NBER
10:20 am	Break
10:40 am	ANDREW ATKESON, UC, Los Angeles and NBER
	ARIEL BURSTEIN, UC, Los Angeles
	Trade Costs, Pricing to Market and International Relative Prices
	Discussants: GEORGE ALESSANDRIA, Federal Reserve Bank of Philadelphia
	JOHN ROGERS, Federal Reserve Board
12:30 pm	Lunch and Adjourn
FRIDAY, JULY 15:
8:30 am	Coffee and Pastries
	International Finance
9:00 am	CHARLES ENGEL, University of Wisconsin and NBER
	AKITO MATSUMOTO, International Monetary Fund
	Portfolio Choice in a Monetary Open-Economy DSGE Model
	Discussants: KAREN LEWIS, University of Pennsylvania and NBER
	PAOLO PESENTI, Federal Reserve Bank of New York & NBER
10:20 am	Break
10:40 am	MICHAEL DEVEREUX, University of British Columbia
	SHOUYONG SHI, University of Toronto
	Vehicle Currency
	Discussants: CEDRIC TILLE, Federal Reserve Bank of New York
	MARTIN EVANS, Georgetown University
12:30 pm	Lunch and Adjourn
5/20/05