International Finance and Macroeconomics Program Meeting
Organized by Laura Alfaro and Enrique G. Mendoza
October 24, 2025
Royal Sonesta Hotel, Riverfront Room, 40 Edwin H. Land Blvd., Cambridge, MA
FORMAT: 35 minutes for the paper presenter, 15 minutes for the discussant, and 10 minutes for general discussion.

Thursday, October 23

6:30 pm

Group Dinner at Bambara (across the street from the Royal Sonesta)

Friday, October 24

8:00 am

Continental Breakfast

8:30 am

Transitory and Permanent Import Tariff Shocks in the United States: An Empirical Investigation

Stephanie Schmitt-Grohé, Columbia University and NBER
Martín Uribe, Columbia University and NBER

Discussant:
Louphou Coulibaly, University of Wisconsin - Madison and NBER

9:30 am

Break

9:45 am

A Theory of International Official Lending

Qing Liu, Tsinghua University
Zanhui Liu, Tsinghua University
Vivian Yue, Emory University and NBER

Discussant:
César Sosa-Padilla, University of Notre Dame and NBER

10:45 am

Break

11:00 am

A Theory of Payments-Chain Crises

Saki Bigio, University of California, Los Angeles and NBER
Esteban Méndez, Central Bank of Costa Rica
Diana Van Patten, Yale University and NBER

Discussant:
Romain Rancière, University of Southern California and NBER

12:00 pm

Lunch - Somerset Room

1:00 pm

Heaven or Earth? The Evolving Role of Global Shocks for Domestic Monetary Policy

Kristin Forbes, Massachusetts Institute of Technology and NBER
Jongrim Ha, The World Bank
M. Ayhan Kose, The World Bank

Discussant:
Annie Soyean Lee, Johns Hopkins University

2:00 pm

Break

2:15 pm

How Globalization Unravels: A Ricardian Model of Endogenous Trade Policy

Jesús Fernández-Villaverde, University of Pennsylvania and NBER
Tomohide Mineyama, International Monetary Fund
Dongho Song, Johns Hopkins University

Discussant:
Jaedo Choi, University of Texas at Austin

3:15 pm

Break

3:30 pm

The Optimal Macro Tariff

Oleg Itskhoki, Harvard University and NBER
Dmitry Mukhin, London School of Economics and Political Science (LSE)

Discussant:
Martín Uribe, Columbia University and NBER

4:30 pm

Adjourn