NATIONAL BUREAU OF ECONOMIC RESEARCH


SUMMER INSTITUTE 2010


International Finance and Macroeconomics Workshop

 

Royal Sonesta Hotel
Parkview

40 Edwin H. Land Blvd.

Cambridge, MA


Jeffrey Frankel, Program Chair

 

Fabio Ghironi and Michael Klein, Organizers

July 12-16, 2010

 

PROGRAM

 

MONDAY JULY 12:

 

 

8:00 am

Coffee and Pastries

 

 

 

International Capital Flows

 

 

8:30 am

Mathias Hoffmann, University of Zurich

 

What Drives China's Current Account?

 

 

 

Discussant: Pierre-Olivier Gourinchas, UC, Berkeley and NBER

 

 

9:30 am

Break

 

 

9:45 am

Maya Eden, MIT

 

Financial Distortions and the Distribution of Global Volatility

 

 

 

Discussant: Ana Fostel, George Washington University

 

 

10:45 am

Break

 

 

11:00 am

Nuno Coimbra, London Business School

 

An Iberian Disease? On current account imbalances within a monetary union

 

 

 

Discussant: Raoul Minetti, Michigan State University

 

 

12:00 n

Lunch and Adjourn

 

 

TUESDAY JULY 13:

 

 

8:00 am

Coffee and Pastries

 

 

 

International Prices

 

 

8:30 am

Philippe Andrade, Bank of France

 

Marios Zachariadis, University of Cyprus

 

Trends in international prices

 

 

 

Discussant: Paul Bergin, UC, Davis and NBER

 

 

9:30 am

Break

 

 

 

Finance and Trade

 

 

9:45 am

Katheryn Russ, UC, Davis and NBER

 

Diego Valderrama, Franklin Templeton Investments

 

Financial Choice in a Non-Ricardian Model of Trade

 

 

 

Discussant: Andrei Levchenko, University of Michigan and NBER

 

 

10:45 am

Break

 

 

11:00 am

Gita Gopinath, Harvard University and NBER

 

Brent Neiman, University of Chicago

 

Trade Adjustment in Large Crises

 

 

 

Discussant: Ariel Burstein, UC, Los Angeles and NBER

 

 

12:00 n

Lunch and Adjourn

 

 

1:00 pm

International Trade and Macroeconomics Session

 

Paul Bergin and Fabio Ghironi, Organizers

 

program

 

 

5:30 pm

Adjourn

 

 

WEDNESDAY JULY 14:

 

 

8:00 am

Coffee and Pastries

 

 

 

Crises: Empirical Evidence and Theory

 

 

8:30 am

Efraim Benmelech, Harvard University and NBER

 

Eyal Dvir, Boston College

 

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis

 

 

 

Discussant: Gian Maria Milesi-Ferretti, International Monetary Fund

 

 

9:30 am

Break

 

 

9:45 am

Alberto Martin, Pompeu Fabra University

 

Jaume Ventura, Pompeu Fabra University and NBER

 

Theoretical Notes on Bubbles and the Current Crisis

 

 

 

Discussant: Helene Rey, London Business School and NBER

 

 

10:45 am

Break

 

 

11:00 am

Prakash Kannan, International Monetary Fund

 

Credit Conditions and Recoveries from Recessions Associated with Financial Crises

 

 

 

Discussant: Galina Hale, Federal Reserve Bank of San Francisco

 

 

12:00 n

Luncheon in Honor of Alan Stockman – Ballroom B

 

Jeffrey Frankel, Fabio Ghironi, Michael Klein, and Linda Tesar, Organizers

 

 

1:30 pm

Adjourn

 

 

1:45 pm

Preconference on the Global Financial Crisis

 

Charles Engel, Kristin Forbes, and Jeffrey Frankel, Organizers

 

program

 

 

5:25 pm

Adjourn

 

 

6:00 pm

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

 

 

THURSDAY JULY 15:

 

 

8:00 am

Coffee and Pastries

 

 

 

Risk Sharing, Risk Taking, and International Business Cycles

 

 

8:30 am

Michael Devereux, University of British Columbia and NBER

 

Viktoria Hnatkovska, University of British Columbia

 

Consumption Risk Sharing, the Real Exchange Rate, and Borders: Why Does the Exchange Rate Make Such a Difference?

 

 

 

Discussant: Linda Tesar, University of Michigan and NBER

 

 

9:30 am

Break

 

 

9:45 am

Hui Tong, International Monetary Fund

 

Shang-Jin Wei, Columbia University and NBER

 

Country Insurance and Corporate Risk-taking

 

 

 

Discussant: Hiro Ito, Portland State University

 

 

10:45 am

Break

 

 

11:00 am

Luca Dedola, ECB

 

Giovanni Lombardo, ECB

 

Financial frictions, financial integration and the international propagation of shocks

 

 

 

Discussant: Philippe Martin, Sciences Po, Paris

 

 

12:00 n

Lunch and Adjourn

 

 

1:00 pm

Preconference on the Global Financial Crisis

 

Charles Engel, Kristin Forbes, and Jeffrey Frankel, Organizers

 

program

 

 

4:25 pm

Adjourn

 

 

FRIDAY JULY 16:

 

 

8:00 am

Coffee and Pastries

 

 

 

International Portfolios, Term Structures, and Currency Markets

 

 

8:30 am

Tatiana Didier, The World Bank

 

Roberto Rigobon, MIT and NBER

 

Sergio Schmukler, The World Bank

 

Unexploited Gains from International Diversification: Patterns of

 

Portfolio Holdings around the World

 

 

 

Discussant: Frank Warnock, University of Virginia and NBER

 

 

9:30 am

Break

 

 

9:45 am

Chotibhak Jotikasthira, University of North Carolina, Chapel Hill

 

Anh Le, University of North Carolina, Chapel Hill

 

Christian Lundblad, University of North Carolina, Chapel Hill

 

Why Do Term Structures in Different Currencies Comove?

 

 

 

Discussant: Georg Strasser, Boston College

 

 

10:45 am

Break

 

 

11:00 am

Paolo Pasquariello, University of Michigan

 

Qiaoqiao Zhu, Queensland University of Technology

 

Is There Timing Ability in Currency Markets? Evidence from ADR Issuances

 

 

 

Discussant: Nelson Mark, University of Notre Dame and NBER

 

 

12:00 n

Adjourn