Tuesday, February 28
7:30 pm
Informal Dinner - Liguria Lastarria
Wednesday, March 1
8:30 am
Continental Breakfast
9:00 am
Opening Remarks, Linda S. Goldberg, Federal Reserve Bank of New York and NBER
Session 1: Policy Interactions in Trade and Finance
Session Chair: Ṣebnem Kalemli-Özcan, University of Maryland and NBER
9:15 am

From Carry Trades to Trade Credit: Financial Intermediation by Non-Financial Corporations (slides)

Bryan Hardy, Bank for International Settlements
Felipe Saffie, University of Virginia and NBER

Discussant:
Tim Schmidt-Eisenlohr, Federal Reserve Board
10:15 am

The 2014 Russia Shock and its Effects on Italian Firms and Banks (slides)

Stefano Federico, Bank of Italy
Giuseppe Marinelli, Bank of Italy
Francesco Palazzo, Bank of Italy

Discussant:
Georgia Bush, Banco de México
11:15 am
Break
11:45 am

Capital Controls and Free-Trade Agreements (slides)

Emile A. Marin, University of California, Davis
Simon P. Lloyd, Bank of England

Discussant:
Juan Carlos Hallak, Universidad de Buenos Aires and CONICET
12:45 pm
Lunch
Session 2: Finance and Supply Chain Dynamics
Session Chair: Pol Antras, Harvard University and NBER
2:00 pm

Financial Crises and the Global Supply Chain: Evidence from Multinational Networks

Sergi Basco, Universitat Barcelona
Giulia Felice, Politecnico Milano
Bruno Merlevede, Ghent University
Martí Mestieri, Federal Reserve Bank of Chicago

Discussant:
Rodrigo A. Wagner, Universidad Adolfo Ibáñez
3:00 pm

Bound by Ancestors: Immigration, Credit Frictions, and Global Supply Chain Formation (slides)

Jaerim Choi, University of Hawaii at Manoa
Jay Hyun, Alberta School of Business, University of Alberta
Ziho Park, National Taiwan University

Discussant:
Shang-Jin Wei, Columbia University and NBER
4:00 pm
Break
4:30 pm

Supply Chain Resilience: Evidence from Indian Firms (slides)

Gaurav Khanna, University of California, San Diego
Nicolas Morales, Federal Reserve Bank of Richmond
Nitya Pandalai-Nayar, University of Texas at Austin and NBER

Discussant:
Federico Huneeus, Duke University
5:30 pm
Adjourn
7:30 pm
Reception and Dinner - Castillo Forestal
Thursday, March 2
8:45 am
Continental Breakfast
Session 3: Uncertainty and Fragmentation
Session Chair: Linda Goldberg, Federal Reserve Bank of New York and NBER
9:15 am

Supply Chain Risk: Changes in Supplier Composition and Vertical Integration

Nuri Ersahin, Michigan State University
Mariassunta Giannetti, Stockholm School of Economics
Ruidi Huang, Southern Methodist University

Discussant:
Veronica Rappoport, London School of Economics
10:15 am

Trade Uncertainty and U.S. Bank Lending

Ricardo Correa, Federal Reserve Board
Julian di Giovanni, Federal Reserve Bank of New York
Linda S. Goldberg, Federal Reserve Bank of New York and NBER
Camelia Minoiu, Federal Reserve Bank of Atlanta

Discussant:
Katharina Bergant, International Monetary Fund
11:15 am
Break
11:45 am

Trade Shocks and Credit Reallocation (slides)

Fadi Hassan, Bank of Italy
Veronica Rappoport, London School of Economics
Stefano Federico, Bank of Italy

Discussant:
Miguel Acosta-Henao, Central Bank of Chile
12:45 pm
Lunch
Session 4: From Trade Shocks to Banking
Session Chair: Sofia Bauducco, Central Bank of Chile
2:00 pm

Domestic Credit, Trade Finance, and the Trade Tensions of 2016-18: A Prelude to International Fragmentation?

Paula Margaretic, Universidad de Chile
David N. Moreno, Central Bank of Chile

Discussant:
Camila Casas, IMF
3:00 pm

Escaping the Trade War: Finance and Relational Supply Chains in the Adjustment to Trade Policy Shocks

Felipe Benguria, University of Kentucky
Felipe Saffie, University of Virginia and NBER

Discussant:
José De Gregorio, Universidad de Chile
4:00 pm
Break
4:30 pm
Policy Panel on Fragmentation of Trade and Finance
Participants:
Pierre-Olivier Gourinchas, International Monetary Fund and NBER
Pablo García, Vice Governor, Central Bank of Chile
Elías Albagli, Central Bank of Chile
Moderator: Ṣebnem Kalemli-Özcan, University of Maryland and NBER
6:00 pm
Adjourn
8:00 pm
Informal Dinner - Mestizo