
	Friday, March 24
8:00 am	Continental breakfast
8:40 am	Introduction
8:45 am	Preferred Habitats and Timing in the World’s Safe Asset Alexandra M. Tabova, Federal Reserve Board Francis E. Warnock, University of Virginia and NBER Discussant: Rohan Kekre, University of Chicago and NBER
9:45 am	Exorbitant Privilege Gained and Lost: Fiscal Implications Zefeng Chen, Peking University Zhengyang Jiang, Northwestern University and NBER Hanno Lustig, Stanford University and NBER Stijn Van Nieuwerburgh, Columbia University and NBER Mindy Z. Xiaolan, University of Texas at Austin Discussant: Rishabh Kirpalani, University of Wisconsin-Madison
10:45 am	Break
11:00 am	The Global Financial Cycle Meets Global Imbalances (slides) Julien Acalin, International Monetary Fund Discussant: Xavier Gabaix, Harvard University and NBER
	Short Presentations:
12:00 pm	Stagflation and Topsy-Turvy Capital Flows (slides) Julien Bengui, Bank of Canada Louphou Coulibaly, University of Wisconsin-Madison and NBER
12:15 pm	Central Banker to the World: Foreign Reserve Management and U.S. Money Market Liquidity Karlye Dilts Stedman, Federal Reserve Bank of Kansas City Robert Jay Kahn, Federal Reserve Board Ron Alquist, Department of the Treasury
12:30 pm	Lunch - Taylor Room
1:30 pm	Constrained Efficient Borrowing with Sovereign Default Risk (slides) Juan C. Hatchondo, University of Western Ontario Leonardo Martinez, International Monetary Fund Francisco Roch, International Monetary Fund Discussant: Jing Zhang, Federal Reserve Bank of Chicago
	Short Presentations:
2:30 pm	Inequality and Asset Prices during Sudden Stops Sergio Villalvazo, Federal Reserve Board
2:45 pm	Dollar Reserves and U.S. Yields: Identifying the Price Impact of Official Flows Rashad Ahmed, Department of the Treasury Alessandro Rebucci, Johns Hopkins University and NBER
3:00 pm	Break
3:15 pm	General Equilibrium Analysis of Multinational Financial and Trade Linkages (slides) Chenyue Hu, University of California at Santa Cruz Discussant: Eric van Wincoop, University of Virginia and NBER
4:15 pm	A Macroeconomic Perspective on Taxing Multinational Enterprises (slides) Sebastian Dyrda, University of Toronto Guangbin Hong, University of Chicago Joseph B. Steinberg, University of Toronto Discussant: James R. Hines, University of Michigan and NBER
5:15 pm	Adjourn

Participants

Julien Acalin, International Monetary Fund
Mark A. Aguiar, Princeton University and NBER
Rashad Ahmed, Department of the Treasury
George A. Alessandria, University of Rochester and NBER
Laura Alfaro, Harvard University and NBER
Yan Bai, University of Rochester and NBER
Julien Bengui, Bank of Canada
Ricardo J. Caballero, Massachusetts Institute of Technology and NBER
Roberto Chang, Rutgers University and NBER
Anusha Chari, University of North Carolina at Chapel Hill and NBER
Gastón Chaumont, University of Rochester
Christopher Clayton, Yale University and NBER
Karlye Dilts Stedman, Federal Reserve Bank of Kansas City
Kathryn M.E. Dominguez, University of Michigan and NBER
Sebastian Dyrda, University of Toronto
Xavier Gabaix, Harvard University and NBER
Fabio Ghironi, University of Washington and NBER
Rafael Guntin, University of Rochester
Juan C. Hatchondo, University of Western Ontario
James R. Hines, University of Michigan and NBER

Guangbin Hong, University of Chicago
Chenyue Hu, University of California at Santa Cruz
Zhengyang Jiang, Northwestern University and NBER
Robert Jay Kahn, Federal Reserve Board
Rohan Kekre, University of Chicago and NBER
Rishabh Kirpalani, University of Wisconsin-Madison
Matteo Maggiori, Stanford University and NBER
Leonardo Martinez, International Monetary Fund
Alessandro Rebucci, Johns Hopkins University and NBER
Kim J. Ruhl, University of Wisconsin-Madison and NBER
Jesse Schreger, Columbia University and NBER
Alan M. Taylor, Columbia University and NBER
Linda Tesar, University of Michigan and NBER
Adrien Verdelhan, Massachusetts Institute of Technology and NBER
Sergio Villalvazo, Federal Reserve Board
Francis E. Warnock, University of Virginia and NBER
Mindy Z. Xiaolan, University of Texas at Austin
Kei-Mu Yi, University of Houston and NBER
Jing Zhang, Federal Reserve Bank of Chicago
Eric van Wincoop, University of Virginia and NBER