International Seminar on Macroeconomics
Organized by Francesco Giavazzi and Kenneth D. West
June 26-27, 2015
Zurich, Switzerland

Friday, June 26

1

Sovereign Debt with Heterogeneous Creditors

Harris Dellas, University of Bern
Dirk Niepelt, University of Bern

2

Not so Disconnected: Exchange Rates and the Capital Stock

Tarek Alexander Hassan, Boston University and NBER
Thomas Mertens, Federal Reserve Bank of San Francisco
Tony Zhang, Federal Reserve Board of Governors

3

Cultural Di¤erences and Institutional Integration

Luigi Guiso, Einaudi Institute for Economics and Finance
Helios Herrera, University of Warwick
Massimo Morelli, Bocconi University

4

Correlated Beliefs, Correlated Returns, and the Cross-Section of Stock Market Volatility

Ina Simonovska, University of California, Davis and NBER
Joel David, Federal Reserve Bank of Chicago

5

Phases of Global Liquidity, Fundamentals News, and the Design of Macroprudential Policy

Javier Bianchi, Federal Reserve Bank of Minneapolis
Enrique G. Mendoza, University of Pennsylvania and NBER
Chenxin Liu, University of Wisconsin - Madison

6

Shocking Language: Understanding the Macroeconomic Effects of Central Bank Communication

Stephen Eliot. Hansen, University College London
Michael McMahon, University of Oxford