Monetary Policy and Financial Stability
Organized by Laurence M. Ball, Ṣebnem Kalemli-Özcan, and Turalay Kenc
June 13-15, 2014

Friday, June 13

1

Dilemma not Trilemma? Capital Controls and Exchange Rates with Volatile Capital Flows

Emmanuel Farhi, Harvard University
Iván Werning, Massachusetts Institute of Technology and NBER

2

The Real Effects of Capital Controls: Credit Constraints, Exporters and Firm Investment

Laura Alfaro, Harvard University and NBER
Anusha Chari, University of North Carolina at Chapel Hill and NBER
Fabio Kanczuk, University of Sao Paolo

3

Macroprudential and Monetary Policy: Loan-Level Evidence from Reserve Requirements

Cecilia Dassatti, Central Bank of Uruguay
José-Luis Peydró, Luiss University

4

International Credit Flows, Pecuniary Externalities, and Capital Controls

Markus Brunnermeier, Princeton University and NBER
Yuliy Sannikov, Stanford University

5

Capital Controls or Macroprudential Regulation?

Anton Korinek, University of Virginia and NBER
Damiano Sandri, Bank for International Settlements

6

Capital Flow Management When Capital Controls Leak

Julien Bengui, Bank of Canada
Javier Bianchi, Federal Reserve Bank of Minneapolis

7

Required Reserves, Liquidity Risk, and Credit Growth

Koray Alper, Central Bank of the Republic of Türkiye (CBRT)
Mahir Binici, Central Bank of the Republic of Türkiye (CBRT)
Selva Demiralp, Koç University
Hakan Kara, Bilkent University
Pinar Özlü, Central Bank of the Republic of Türkiye (CBRT)

8

Effects and Role of Macroprudential Policy: Evidence from Reserve Requirements Based on a Narrative Approach

Pablo Federico, BlackRock, Inc.
Carlos Vegh, Johns Hopkins University and NBER
Guillermo Vuletin, The World Bank