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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

International Seminar on Macroeconomics

Program Co-Organizers:  Francesco Giavazzi and Kenneth West

ISOM Co-Chairs:  Jeffrey Frankel, Francesco Giavazzi and Helene Rey

June 26-27, 2015

Metropol
Fraumünsterstrasse 12
8001 Zürich, Switzerland

PROGRAM

 

Participant List


Friday, June 26:

8:30 am

Registration and Welcome Coffee

9:00 am

Welcome and Opening Remarks


9:15 am


Tarek Hassan, University of Chicago and NBER
(joint w/ Thomas Mertens and Tony Zhang)
Not so Disconnected: Exchange Rates and the Capital Stock

Discussants: 
Charles Engel, University of Wisconsin at Madison and NBER
Tommaso Monacelli, Bocconi University


10:30 am


Coffee Break


10:45 am


Lorenzo Bretscher, London School of Economics
Christian Julliard, London School of Economics
Carlo Rosa, Federal Reserve Bank of New York
Human Capital and International Portfolio Diversification: A Reappraisal

Discussants: 
Laura Bottazzi, Bologna University
Sebnem Kalemli-Ozcan, University of Maryland and NBER

12:00 pm

Lunch


1:30 pm


Harris Dellas, University of Bern
Dirk Niepelt, University of Bern

Sovereign Debt with Heterogeneous Creditors

Discussants: 
Davide Debortoli,
Universitat Pompeu Fabra
Jean Imbs, Paris School of Economics


2:45 pm


Coffee Break


3:00 pm


Anton Korinek, Johns Hopkins University and NBER
Damiano Sandri, International Monetary Fund
Capital Controls or Macroprudential Regulation?

Discussants: 
Enrique Mendoza, University of Pennsylvania and NBER
Richard Portes, London Business School and NBER


4:15 pm


Javier Bianchi, Federal Reserve Bank of Minneapolis and NBER
(joint w/ Chenxin Liu and Enrique Mendoza)

Phases of Global Liquidity, Fundamentals News, and the Design of Macroprudential Policy


Discussants: 
Richard Clarida, Columbia University and NBER   slides
Damiano Sandri, International Monetary Fund

5:30 pm

6:30 pm

Adjourn

Welcome Address:

Thomas Moser, Deputy Member of the Executive Board, Swiss National Bank

Dinner
Zunfthaus zur Zimmerleuten
Limmatquai 40, Zürich


Saturday, June 27:

8:30 am

Welcome Coffee

 

 

9:00 am

Luigi Guiso, Einaudi Institute for Economics and Finance
Helios Herrera, HEC Montreal
Massimo Morelli, Bocconi University and NBER
Cultural Differences and Institutional Integration

Discussants: 
Tarek Hassan, University of Chicago and NBER
Andrei Shleifer, Harvard University and NBER

10:15 am

Coffee Break

10:30 am

Ina Simonovska, University of California at Davis and NBER
(joint w/ Joel David)
Correlated Beliefs, Correlated Returns, and the Cross-Section of Stock Market Volatility

Discussant: 
Kamil Yilmaz, Koç University

11:45 am

Stephen Hansen, Universitat Pompeu Fabra
Michael McMahon, University of Warwick
Shocking Language: Understanding the Macroeconomic Effects of Central Bank

Communication

Discussants:
Carlo Favero, Bocconi University
Francisco Ruge-Murcia, McGill University


1:00 pm


Lunch and Adjourn

3:00 pm

Walking Tour of Old Town

 

(participants should meet in lobby of Hotel Glärnischhof)

 

 

5:15 pm

Boat Trip on Lake Zürich with Dinner
(departure from Bürkliplatz)


           

General Information


Emergency contact:

Ms. Monika Gysi/ Swiss National Bank

Research Coordination

T +41 58 631 35 28

monika.gysi@snb.ch