THURSDAY, OCTOBER 25:

6:30 PM Dinner

Legal Sea Foods

Kendall Square

5 Cambridge Center

Cambridge, MA

FRIDAY, OCTOBER 26:

7:45 AM Shuttle Van Departs Royal Sonesta Hotel for 1050 Mass. Avenue

8:00 AM Shuttle Van Departs Royal Sonesta Hotel for 1050 Mass. Avenue

International Portfolio Choice

8:00 AM Continental Breakfast

8:30 AM PIERPAOLO BENIGNO, Luiss Guido Carli and NBER

Portfolio Choices with Near Rational Agents:

A Solution of Some International-Finance Puzzles

Discussant: LAURA VELDKAMP, New York University

9:30 AM Coffee Break

10:00 AM HARALD HAU, INSEAD

HELENE REY, London Business School and NBER

Global Portfolio Rebalancing under the Microscope

Discussant: MICHAEL B. DEVEREUX, University of British Columbia

Measurement of External Balances and National Exposure

11:00 AM STEPHANIE E. CURCURU, Federal Reserve Board

TOMAS DVORAK: Union College

FRANCIS E. WARNOCK, University of Virginia and NBER

Cross-Border Returns Differentials

Discussant: KRISTIN FORBES, MIT and NBER

INTERNATIONAL FINANCE AND MACROECONOMICS PROGRAM, PAGE 2:

12:00 PM Lunch

12:45 PM PHILIP R. LANE, Trinity College Dublin

JAY C. SHAMBAUGH, Dartmouth College and NBER

Financial Exchange Rates and International Currency Exposure

Discussant: ROBERTO RIGOBON, MIT and NBER

1:45 PM Coffee Break

New Theories of Foreign Risk Premia

2:15 PM CEYHUN BORA DURDU, Federal Reserve Board

ENRIQUE G. MENDOZA, University of Maryland and NBER

MARCO E. TERRONES, International Monetary Fund

Precautionary Demand for Foreign Assets in Sudden Stop Economies:

An Assessment of the New Merchantilism

Discussant: ARIEL BURSTEIN, UCLA and NBER

3:15 PM EMMANUEL FARHI, Harvard University and NBER

XAVIER GABAIX, New York Univeristy and NBER

Rare Disasters and Exchange Rates: A Theory of the Forward Premium Puzzle

Discussant: ERIC VAN WINCOOP, University of Virginia and NBER

4:15 PM Adjourn

10/11/07