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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

International Finance and Macroeconomics Program Meeting

Kristin Forbes and Helene Rey, Organizers

March 9, 2012

Royal Sonesta Hotel
40 Edwin H. Land Boulevard
Cambridge, Massachusetts

PROGRAM

Thursday, March 8, 2012
6:30 pm	Dinner Bambara Restaurant 25 Edwin H. Land Boulevard(Across the street from the Royal Sonesta Hotel) Cambridge, MA
Friday, March 9, 2012
8:00 am	Continental Breakfast
8:30 am	GLOBAL IMBALANCES Jack Favilukis, London School of Economics Sydney Ludvigson and Stijn Van Nieuwerburgh , New York University and NBER, Foreign Ownership of U.S. Safe Assets: Good or Bad? Matteo Maggiori, University of California, Berkeley Financial Intermediation, International Risk Sharing, and Reserve Currencies Discussant: Tarek Hassan, University of Chicago and NBER
9:50 am	Coffee Break
10:10 am	Gabriel Zucman, Paris School of Economics The Missing Wealth of Nations: Are Europe and the U.S. Net Debtors or Net Creditors? Discussant: Philip Lane, Trinity College-Dublin
11:05 am	Marcel Fratzscher, Marco Lo Duca, and Roland Straub, ECB Quantitative Easing, Portfolio Choice and International Capital Flows Discussant: Carmen Reinhart, Peterson Institute and NBER
12:00 pm	Lunch
1:00 pm	DEFAULT, CONTAGION AND RECOVERY Viral Acharya, New York University and NBER Raghuram Rajan, University of Chicago and NBER Sovereign Debt, Government Myopia and the Financial Sector Discussant: Mark Aguiar, Princeton University and NBER
1:55 pm	Coffee Break
2:15 pm	Robin Greenwood, Harvard University and NBER Augustin Landier, University of Toulouse David Thesmar, HEC-Paris Vulnerable Banks Discussant: Linda Goldberg, Federal Reserve Bank of New York and NBER
3:10 pm	Meghana Ayyagari, George Washington University Asli Demirguc-Kunt, World Bank Vojislav Maksimovic, University of Maryland Do Phoenix Miracles Exist?: Role of Financial Markets in Firm-Level Recovery from Financial Crises Discussant: Anusha Chari, University of North Carolina and NBER
4:05 pm	Adjourn
2/27/12