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NATIONAL BUREAU OF ECONOMIC RESEARCH

 

SUMMER INSTITUTE 2009

 

International Finance and Macroeconomics Workshop

 

Jeffrey Frankel, Program Chair

 

Fabio Ghironi and Nelson Mark, Organizers

 

July 6-10, 2009

 

Royal Sonesta Hotel

Parkview Room

40 Edwin H. Land Blvd.

Cambridge, MA

 

PROGRAM

 

 MONDAY JULY 6:

 

 

8:00 am

Coffee and Pastries

 

 

 

International Business Cycles and Interdependence

 

 

8:30 am

ROBERTO CHANG, Rutgers University and NBER

 

ANDRES FERNANDEZ, Rutgers University

 

On the Sources of Aggregate Fluctuations in Emerging Economies

 

 

 

Discussant: MARK AGUIAR, University of Rochester and NBER

 

 

9:30 am

Break

 

 

9:45 am

ANDREA RAFFO, Federal Reserve Board

 

Technology Shocks: Novel Implications for International Business Cycles

 

 

 

Discussant: NAN LI, Ohio State University (slides)

 

 

10:45 am

Break

 

 

11:00 am

FEDERICO MANDELMAN, Federal Reserve Bank of Atlanta

 

ANDREI ZLATE, Boston College

 

Immigration and the Macroeconomy

 

 

 

Discussant: MARIO CRUCINI, Vanderbilt University and NBER (slides)

 

 

12:00 pm

Lunch and Adjourn

 

 

TUESDAY JULY 7:

 

 

8:00 am

Coffee and Pastries

 

 

 

International Portfolios, Risk Sharing, and Imbalances

 

 

8:30 am

NICOLAS COEURDACIER, London Business School

 

ROBERT KOLLMAN, ECARES, Universite Libre de Bruxelles

 

PHILIPPE MARTIN, Sciences Po, Paris

 

International Portfolios, Capital Accumulation, and Foreign Asset Dynamics

 

 

 

Discussant: MICHAEL DEVEREUX, University of British Columbia and NBER

 

 

9:30 am

Break

 

 

9:45 am

KAREN LEWIS, University of Pennsylvania and NBER

 

EDITH LU, University of Pennsylvania

 

What Do International Asset Returns Imply about Consumption Risk Sharing?

 

 

 

Discussant: SEBNEM KALEMLI-OZCAN, University of Houston and NBER (slides)

 

 

10:45 am

Break

 

 

11:00 am

SHANG-JIN WEI, Columbia University and NBER

 

XIAOBO ZHANG, IFPRI

 

The Competitive Saving Motive: Evidence from Rising Sex Ratios and Savings Rates in China

 

 

 

Discussant: ESWAR PRASAD, Cornell University and NBER (slides)

 

 

12:00 pm

Lunch and Adjourn

 

 

WEDNESDAY, JULY 8

 

 

8:00 am

Coffee and Pastries

 

 

 

Exchange Rates and Relative Prices

 

 

8:30 am

MARTIN EVANS, Georgetown University and NBER

 

Order Flows and the Exchange Rate Disconnect Puzzle

 

 

 

Discussant: MENZIE CHINN, University of Wisconsin-Madison and NBER (slides)

 

 

9:30 am

Break

 

 

9:45 am

TANYA MOLODSTVA, Emory University

 

ALEX NIKOLSKO-RZHEVSKYY, University of Memphis

 

DAVID PAPELL, University of Houston

 

Taylor Rules and the Euro

 

 

 

Discussant: YU-CHIN CHEN, University of Washington (slides)

 

 

10:45 am

Break

 

 

11:00 am

NICOLAS BERMAN, European University Institute

 

PHILIPPE MARTIN, Science Po, Paris

 

THIERRY MAYER, Paris School of Economics

 

How Do Different Exporters React to Exchange Rate Changes? Theory, Empirics, and Aggregate Implications

 

 

 

Discussant: LINDA GOLDBERG, Federal Reserve Bank of New York and NBER (slides)

 

 

12:00 pm

Lunch and Adjourn

 

 

6:00 pm

Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA

 

 

THURSDAY JULY 9:

 

 

8:00 am

Coffee and Pastries

 

 

 

Policy

 

 

8:30 am

DHAMMIKA DHARMAPALA, University of Connecticut

 

C. FRITZ FOLEY, Harvard University and NBER

 

KRISTIN FORBES, MIT and NBER

 

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act

 

 

 

Discussant: ROSANNE ALTSHULER, Urban Institute (slides)

 

 

9:30 am

Break

 

 

9:45 am

GIANLUCA BENIGNO, London School of Economics

 

HUIGANG CHEN, International Monetary Fund

 

CHRISTOPHER OTROK, University of Virginia

 

ALESSANDRO REBUCCI, Inter-American Development Bank

 

ERIC YOUNG, University of Virginia

 

Optimal Policy with Occasionally Binding Credit Constraints

 

 

 

Discussant: ANTON KORINEK, University of Maryland (slides)

 

 

10:45 am

Break

 

 

11:00 am

GIANCARLO CORSETTI, European University Institute

 

ANDRE MEIER, International Monetary Fund

 

GERNOT MULLER, University of Bonn

 

Fiscal Stimulus with Spending Reversals

 

 

 

Discussant: CHRISTOPHER ERCEG, Federal Reserve Board

 

 

12:00 pm

Lunch and Adjourn

 

 

FRIDAY JULY 10

 

 

8:00 am

Coffee and Pastries

 

 

 

Crises

 

 

8:30 am

EMINE BOZ, International Monetary Fund

 

ENRIQUE MENDOZA, University of Maryland and NBER

 

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis

 

 

 

Discussant: PAOLO PESENTI, Federal Reserve Bank of New York and NBER (slides)

 

 

9:30 am

Break

 

 

9:45 am

NIALL COFFEY, Federal Reserve Bank of New York

 

WARREN HRUNG, Federal Reserve Bank of New York

 

HOAI-LUU NGUYEN, Federal Reserve Bank of New York

 

ASANI SARKAR, Federal Reserve Bank of New York

 

Credit Risk, Liquidity Risk, and Deviations from Covered Interest Parity

 

 

 

Discussant: RICHARD LEVICH, New York University and NBER (slides)

 

 

10:45 am

Break

 

 

JOINT SESSION WITH ASSET PRICING AND MONETARY ECONOMICS GROUPS (Ballroom, West Tower)

 

 

11:00 am

Discussion on the Crisis

 

FREDERIC MISHKIN, Columbia University and NBER

 

 

12:30 pm

Lunch and Adjourn

 

 

4:30 pm

THE INAUGURAL MARTIN FELDSTEIN LECTURE

 

JOHN B. TAYLOR, Stanford University and NBER

 

Empirically Evaluating Economic Policy in Real Time

 

 

6:00 pm

Adjourn

 

 

 

 

 

 

5/12/09