International Finance and Macroeconomics Program Meeting
Organized by Yan Bai and Anusha Chari
March 24, 2023
Le Meridien, Luscomb Ballroom, 20 Sidney Street, Cambridge, MA
Format: Ppresenters will have 30 minutes, 15 minutes for discussants and 15 minutes for Q&A

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 of Governors
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 of Governors
Ron Alquist, Managed Funds Association

12:30 pm

Lunch - Taylor Room

1:30 pm

Constrained Efficient Borrowing with Sovereign Default Risk (slides)

Juan C. Hatchondo, Western University
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 of Governors

2:45 pm

Dollar Reserves and U.S. Yields: Identifying the Price Impact of Official Flows

Rashad Ahmed, Andersen Institute for Finance and Economics
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, 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, Michigan State University
Joseph B. Steinberg, University of Toronto and NBER

Discussant:
James R. Hines, University of Michigan and NBER

5:15 pm

Adjourn