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link=blue vlink=purple style='tab-interval:.5in'> <div class=WordSection1> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=625 style='width:468.75pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>Authors, please upload your paper <a href="http://www.nber.org/confsubmit/backend/form?id=DEMs16">here</a>. <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center; line-height:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>NATIONAL BUREAU OF ECONOMIC RESEARCH, INC. <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center; line-height:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Conference on Capital Flows and Debt in Emerging Markets<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center; line-height:normal'><span class=SpellE><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Sebnem</span></span><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'> <span class=SpellE>Kalemli-Ozcan</span> and Carmen Reinhart, Organizers <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center; line-height:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>April 11-12, 2016 <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Hamilton Crowne Plaza<br> </span><span style='font-family:"Times New Roman","serif"'>Franklin Park Room (Lobby Level)</span><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br> </span><span class=xbe><span style='font-family:"Times New Roman","serif"'>1001 14th Street, NW</span></span><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br> Washington, DC<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6;mso-yfti-lastrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;text-align:center;line-height:normal;mso-outline-level:2'><b><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>PROGRAM<o:p></o:p></span></b></p> </td> </tr> </table> <p class=MsoNormal><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br> <br> <a href="partlist.pdf">PARTICIPANT LIST</a><br> <br> <br> </span><span style='font-family:"Times New Roman","serif"'>The <b style='mso-bidi-font-weight:normal'>format</b> for each paper will be a 25-minute presentation by the author, followed by one 20-minute discussion, <br> and then another 15 minutes of general audience discussion.<o:p></o:p></span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> <table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse;border:none;mso-yfti-tbllook:1184;mso-padding-alt: 0in 5.4pt 0in 5.4pt;mso-border-insideh:none;mso-border-insidev:none'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Monday, April 11<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>10:30 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Laura Alfaro, Harvard University and NBER<br> Gonzalo <span class=SpellE>Asis</span>, University of North Carolina at Chapel Hill<br> <span class=SpellE>Anusha</span> Chari, University of North Carolina at Chapel Hill and NBER<br> Ugo <span class=SpellE>Panizza</span>, The Graduate Institute, Geneva<br> </span><i style='mso-bidi-font-style:normal'><span style='font-family:"Times New Roman","serif"'><a href="Alfaro_Chari_Panizza.pdf">Lessons Unlearned?&nbsp;Corporate Debt in Emerging Markets</a></span></i><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br> <br> Discussant:&nbsp;Luis <span class=SpellE>Serven</span>, The World Bank<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>11:30 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Break<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>11:45 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Vladimir <span class=SpellE>Asriyan</span>, <span class=SpellE>Universitat</span> <span class=SpellE>Pompeu</span> <span class=SpellE>Fabra</span><br> Luca <span class=SpellE>Fornaro</span>, CREI, <span class=SpellE>Universitat</span> <span class=SpellE>Pompeu</span> <span class=SpellE>Fabra</span> and Barcelona GSE<br> Alberto Martin, CREI<br> <span class=SpellE>Jaume</span> Ventura, CREI, <span class=SpellE>Universitat</span> <span class=SpellE>Pompeu</span> <span class=SpellE>Fabra</span> and NBER<br> </span><i style='mso-bidi-font-style:normal'><span style='font-family:"Times New Roman","serif"'>Monetary Policy for a Bubbly World</span></i><span style='font-family:"Times New Roman","serif"'> </span><i style='mso-bidi-font-style:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br> </span></i><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'><br> Discussant:&nbsp;<span class=SpellE>Wenxin</span> Du, Federal Reserve Board<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>12:45 pm<o:p></o:p></span></p> </td> <td width=529 style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>Lunch - </span><span style='font-family:"Times New Roman","serif"'>Farragut Square Room (Lower Lobby)</span><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>1:45 pm<o:p></o:p></span></p> </td> <td width=529 style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span class=SpellE><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Serkan</span></span><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'> <span class=SpellE>Arslanalp</span>, International Monetary Fund<span style='mso-spacerun:yes'>     </span><a href="imfer201420a.pdf">background paper 1</a><br> </span><span style='font-family:"Times New Roman","serif"'>Takahiro <span class=SpellE>Tsuda</span>, Ministry of Finance Japan<span style='mso-spacerun:yes'>     </span><a href="wp15263.pdf">background paper 2</a></span><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'><br> <i><a href="Arslanalp_Tsuda.pdf">Tracking Global Demand for Emerging Market Sovereign Debt</a></i><br> <br> Discussant:&nbsp;Olivier Jeanne, Johns Hopkins University and NBER <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>2:45 pm<o:p></o:p></span></p> </td> <td width=529 style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:7'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=529 style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:12.0pt;line-height:normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'>Benjamin Hebert, Stanford University<br> Jesse <span class=SpellE>Schreger</span>, Princeton University<br> <i><a href="http://www.nber.org/confer/2016/DEMs16/Schreger_Hebert.pdf">The Costs of Sovereign Default:&nbsp;Evidence from Argentina</a></i><br> <br> Discussant:&nbsp;Graciela Kaminsky, George Washington University and NBER <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:8'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>4:00 pm<o:p></o:p></span></p> </td> <td width=529 style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Break<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:9'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>4:15 pm<o:p></o:p></span></p> </td> <td width=529 style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Special Session with<br> Hyun Song Shin, Bank for International Settlements and NBER<br> <i style='mso-bidi-font-style:normal'>Foreign Currency Debt in Emerging Markets</i><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:10'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>5:30 pm<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Adjourn<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:11'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>6:30 pm<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Dinner - </span><span style='font-family:"Times New Roman","serif"'>Farragut Square Room (Lower Lobby)</span><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br> <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:12'> <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Tuesday, April 12<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:13'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>8:30 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Continental Breakfast - </span><span style='font-family: "Times New Roman","serif"'>Farragut Square Room (Lower Lobby)</span><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:14'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>9:00 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Carmen Reinhart, Harvard University and NBER<br> Vincent Reinhart, American Enterprise Institute<br> Christoph <span class=SpellE>Trebesch</span>, University of Munich<br> </span><i style='mso-bidi-font-style:normal'><span style='font-family:"Times New Roman","serif"'><a href="Reinhart_Reinhart_Trebesch.pdf">Global Cycles:&nbsp;Capital Flows, Commodities, and Sovereign Defaults, 1815-2015</a></span></i><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'><br> <br> Discussant:&nbsp;<span class=SpellE>Stijn</span> <span class=SpellE>Claessens</span>, Federal Reserve Board<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:15'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>10:00 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Break<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:16'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>10:15 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span class=SpellE><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'>Jaume</span></span><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'> Ventura, CREI, <span class=SpellE>Universitat</span> <span class=SpellE>Pompeu</span> <span class=SpellE>Fabra</span> and NBER<br> Hans-Joachim <span class=SpellE>Voth</span>, University of Zurich<br> </span><span style='font-family:"Times New Roman","serif"'><a href="http://crei.cat/people/jventura/DIG.pdf"><i>Debt into Growth:&nbsp;How Sovereign Debt Accelerated the First Industrial Revolution </i></a></span><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'><br> <br> Discussant:&nbsp;Felipe <span class=SpellE>Saffie</span>, University of Maryland<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:17'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>11:15 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Break<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:18'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>11:30 am<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Gita <span class=SpellE>Gopinath</span>, Harvard University and NBER<br> <span class=SpellE>Sebnem</span> <span class=SpellE>Kalemli-Ozcan</span>, University of Maryland and NBER<br> <span class=SpellE>Loukas</span> <span class=SpellE>Karabarbounis</span>, University of Chicago and NBER<br> Carolina Villegas-Sanchez, ESADE-<span class=SpellE>Universitat</span> Ramon <span class=SpellE>Llull</span><br> </span><span style='font-family:"Times New Roman","serif"'><a href="http://www.nber.org/confer/2016/DEMs16/Kalemli-Ozcan_Gopinath_Karabarbounis_Villegas-Sanchez.pdf"><i>Capital Allocation and Productivity in South Europe </i></a></span><span style='font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"'><br> <br> Discussant:&nbsp;Sergio <span class=SpellE>Schmukler</span>, The World Bank<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:19'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>12:30 pm<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Lunch - </span><span style='font-family:"Times New Roman","serif"'>Farragut Square Room (Lower Lobby)</span><span style='font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman"'><br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:20;mso-yfti-lastrow:yes'> <td width=109 valign=top style='width:81.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>1:30 pm<o:p></o:p></span></p> </td> <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'>Adjourn<o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-family:"Times New Roman","serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif";mso-fareast-font-family: "Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Times New Roman","serif"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html>