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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

Fraumünsterstrasse 12
8001 Zürich, Switzerland



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

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

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

12:00 pm


1:30 pm

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

Sovereign Debt with Heterogeneous Creditors

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?

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

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

5:30 pm

6:30 pm


Welcome Address:

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

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

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

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


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