Emerging Markets: Navigating a Fragmented Global Economy
Organized by Mark A. Aguiar, Manuel Amador, and Diana Van Patten
December 10-11, 2026
San José, Costa Rica
Thursday, December 10
8:50 am
Opening Remarks
9:00 am

A Model of Global Firms and Capital Markets

Loukas Karabarbounis, University of Minnesota and NBER
Bruno Pellegrino, Columbia University and NBER
Juliana Salomao, University of Minnesota and NBER

Discussant:
TBA
10:00 am
Break
10:15 am

Endogenous Markups and Trade Elasticities

Anton Cheremukhin, Federal Reserve Bank of Dallas
Paulina Restrepo-Echavarria, Federal Reserve Bank of St. Louis

Discussant:
Mayara Felix, Yale University and NBER
11:15 am
Break
11:30 am

Multinational Production and Trade Policy

Agustin Gutierrez, University of Wisconsin - Madison
Sebastian Heise, Federal Reserve Bank of New York
Nicolo Rizzotti, The University of Chicago
Felix Tintelnot, Duke University and NBER

Discussant:
TBA
12:30 pm
Lunch
2:00 pm

Sourcing Networks, Foreign Shocks, and Imported Inflation in an Emerging Market

Monica Morlacco, University of Southern California

Discussant:
TBA
3:00 pm
Break
3:15 pm

The Nearshoring Boom Mexico Almost Had

Radek Paluszynski, University of Houston
Hyunju Lee, University of Houston
Anuar Bechara, Banco de Mexico
Pavel Solis, Johns Hopkins University
Luis E. Salinas Huerta

Discussant:
TBA
4:15 pm
Break
4:30 pm

Optimal Tariffs under Strategic Risk: A Theory of De-risking

Ina Simonovska, University of California, Davis and NBER
Ahmad Lashkaripour, Indiana University

Discussant:
TBA
Friday, December 11
Break
9:00 am

Widening Currency Bands

Fernando E. Alvarez, The University of Chicago and NBER

Discussant:
TBA
10:00 am
Break
10:15 am

Managing Emerging Market Currency Risk

Nanyu Chen Haonan Zhou, The University of Hong Kong (HKU)

Discussant:
TBA
11:15 am
Break
11:30 am

A Model of U.S. Monetary Policy and the Global Financial Cycle

Rohan Kekre, University of California, Berkeley and NBER
Moritz Lenel, Princeton University and NBER

Discussant:
TBA
12:30 pm
Lunch
2:00 pm

Importing Aggregate Demand

Chen Lian, University of California, Berkeley and NBER
Dmitry Mukhin, London School of Economics and Political Science (LSE)
Christian K. Wolf, Massachusetts Institute of Technology and NBER

Discussant:
TBA
3:00 pm
Break
3:15 pm

Evaluating Exchange Rate Regimes: a Natural Experiment?

Amol Amol Constantino Hevia, Universidad Torcuato di Tella
Juan Pablo Nicolini, Federal Reserve Bank of Minneapolis

Discussant:
TBA
4:30 pm

Policy Panel
Róger Madrigal, Governor, Central Bank of Costa Rica
José Darío Uribe, Executive President, FLAR
Laura Alfaro, Chief Economist and Economic Counselor IADB, Harvard Business School, and NBER
Alberto Trejos, Chairman of the Board and Professor Emeritus, INCAE


 
5:30 pm
Adjourn