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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

International Seminar on Macroeconomics

Program Organizers: Richard Clarida and Lucrezia Reichlin

ISOM Co-Chairs: Jeffrey Frankel and Hélène Rey

June 24-25, 2016

Hosted by Sofia University

Central Park Hotel Sofia
106, Vitosha Blvd.
1463 Sofia, Bulgaria

Program

Participant List
Friday, June 24
8:30 am	Continental Breakfast
9:00 am	Welcome and Opening Remarks
9:15 am	Enrique Alberola, Bank for International Settlements Gianluca Benigno, London School of Economics Revisiting the Commodity Resource Curse: A Financial Perspective
	Discussants: Drago Bergholt, Norges Bank Martin Uribe, Columbia University and NBER
10:30 am	Break
10:45 am	Yusuf Soner Baskaya, CBRT Julian di Giovanni, Universitat Pompeu Fabra Sebnem Kalemli-Ozcan, University of Maryland and NBER José-Luis Peydro, Universitat Pompeu Fabra Mehmet Fatih Ulu, CBRT International Spillovers and Local Credit Cycles
	Discussants: Benoit Mojon, Banque de France Romain Ranciere, International Monetary Fund
12:00 pm	Lunch
1:30 pm	Luca Dedola, European Central Bank Giulia Rivolta, University of Brescia Livio Stracca, European Central Bank If the Fed Sneezes, Who Catches a Cold?
	Discussants: Richard Clarida, Columbia University and NBER Giovanni Ricco, University of Warwick
2:45 pm	Break
3:00 pm	Vania Stavrakeva, London Business School Optimal Capital Flows in a Model with Financial Frictions and Imperfectly Competitive Banking Sector Discussants: Fernando Broner, Universitat Pompeu Fabra Alexi Savov, New York University and NBER
4:15 pm	Luis Felipe Céspedes, Central Bank of Chile Roberto Chang, Rutgers University and NBER Andrés Velasco, Columbia University and NBER Financial Intermediation, Exchange Rates, and Unconventional Policy in an Open Economy Discussants: Jordi Gali, Universitat Pompeu Fabra and NBER Paolo Pesenti, Federal Reserve Bank of New York and NBER
5:30 pm	Adjourn
7:00 pm	Dinner at Moma Restaurant (10-minute walk from hotel)
Saturday, June 25
8:30 am	Continental Breakfast
9:00 am	Kathryn Holston, Federal Reserve Board Thomas Laubach, Federal Reserve Board John Williams, Federal Reserve Bank of San Francisco Measuring the Natural Rate of Interest: International Trends and Determinants
	Discussants: Emanuel Moench, Deutsche Bundesbank Kenneth West, University of Wisconsin at Madison and NBER
10:15 am	Break
10:30 am	Andrés Fernández, Inter-American Development Bank Stephanie Schmitt-Grohe, Columbia University and NBER Martin Uribe, Columbia University and NBER World Shocks, World Prices, and Business Cycles: An Empirical Investigation
	Discussants: Laura Alfaro, Harvard University and NBER Ivan Petrella, Bank of England
11:45 am	Karen Lewis, University of Pennsylvania and NBER Edith Liu, Federal Reserve Board Disaster Risk and Asset Returns: An International Perspective
	Discussants: Charles Engel, University of Wisconsin at Madison and NBER Huw Pill, Goldman Sachs
1:00 pm	Lunch and Adjourn
2:00 pm	Sofia City Tour by Bus
3:00 pm	Visit the Alexander Nevski Patriarch Monument and Crypt
3:40 pm	Walk to Kvadrat 500 Art Gallery
7:00 pm	Dinner at Sofia Grand Hotel

Contact Person:
Dr. Kosyo Stoychev, Sofia University
Mobile: +359 878 482 461
Email: k_stoychev@mail.bg

INFORMATION