International Finance and Macroeconomics Program Meeting
Organized by Enrique G. Mendoza and Fabrizio Perri
October 23, 2026
Royal Sonesta Hotel, 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 22

6:30 pm

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

Friday, October 23

8:00 am

Continental Breakfast

8:30 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:
Ṣebnem Kalemli-Özcan, Brown University and NBER

9:30 am

Break

9:45 am

A Macroeconomic Model of the Cross-Section of Currencies

Aleksei Oskolkov, Princeton University
Diego Perez, New York University and NBER

Discussant:
Charles Engel, University of Wisconsin - Madison and NBER

10:45 am

Break

11:00 am

Tariffs, Investment, and the Missing Trade Collapse

Michael E. Waugh, Federal Reserve Bank of Minneapolis and NBER
Andrea Prestipino, Federal Reserve Board of Governors
Andrea Raffo, Federal Reserve Bank Minneapolis
Francesco Ferrante, Federal Reserve Board of Governors

Discussant:
George A. Alessandria, University of Rochester and NBER

12:00 pm

Lunch

1:00 pm

Precautionary Sourcing and the Macroeconomics of De-Risking

Ester Faia, Goethe University Frankfurt

Discussant:
Doireann Fitzgerald, Federal Reserve Bank of Minneapolis

2:00 pm

Break

2:15 pm

The Very Long-Run Costs of Financial Crises

Karsten Müller, National University of Singapore
Chenzi Xu, University of California, Berkeley and NBER
Mohamed Lehbib, National University of Singapore

Discussant:
TBA

3:15 pm

Break

3:30 pm

Foreign Exchange Risk Management Spillovers Across the Production Network

Wentong Chen, Santa Clara University

Discussant:
Adrien Verdelhan, Massachusetts Institute of Technology and NBER

4:30 pm

Adjourn