
	Monday, July 10
8:00 am	Coffee and Pastries
	Currencies and Trade
8:30 am	Dominant Currency Paradigm Camila Casas, IMF Federico Diez, International Monetary Fund Gita Gopinath, International Monetary Fund Pierre-Olivier Gourinchas, University of California, Berkeley and NBER Discussant: Jordi Galí, CREI and NBER
9:30 am	Break
9:45 am	Pricing in Multiple Currencies in Domestic Markets Andres Drenik, University of Texas at Austin and NBER Diego Perez, New York University and NBER Discussant: Javier Cravino, University of Michigan and NBER
10:45 am	Break
11:00 am	Protectionism and the Business Cycle Alessandro Barattieri, The World Bank and UQAM Matteo Cacciatore, HEC Montreal and NBER Fabio Ghironi, University of Washington and NBER Discussant: Giancarlo Corsetti, University of Cambridge
12:00 noon	Adjourn and Lunch
4:00 pm	IFM Data Sources Project
	Tuesday, July 11
8:00 am	Coffee and Pastries
	Morning joint with International Asset Pricing
	Capital Flows and Exchange Rates
8:30 am	Gravity in FX R2: Understanding the Factor Structure in Exchange Rates Hanno Lustig, Stanford University and NBER Robert J. Richmond, New York University and NBER Discussant: Tarek Alexander Hassan, Boston University and NBER
9:30 am	Break
9:45 am	International Monetary Theory: Mundell-Fleming Redux Markus K. Brunnermeier, Princeton University and NBER Yuliy Sannikov, Stanford University Discussant: Bernard Dumas, INSEAD (France) and NBER
10:45 am	Break
11:00 am	Unpacking Global Capital Flows: A Micro-Data Approach to Macro Facts Matteo Maggiori, Stanford University and NBER Brent Neiman, University of Chicago and NBER Jesse Schreger, Columbia University and NBER Discussant: Gian Maria Milesi Ferretti, Brookings Institution
12:00 noon	Adjourn and Lunch
1:00 pm	International Trade & Macroeconomics Parkview Room
1:00 pm	International Asset Pricing Longfellow Room
	Wednesday, July 12

8:00 am	Coffee and Pastries
	Morning joint with Macro, Money and Financial Frictions in Ballroom A
	Leverage and Crises
8:30 am	The Dollar, Bank Leverage and the Deviation from Covered Interest Parity Stefan Avdjiev, Bank for International Settlements Wenxin Du, Harvard University and NBER Catherine Koch, Swiss National Bank Hyun Song Shin, Bank for International Settlements Discussant: Hanno Lustig, Stanford University and NBER
9:30 am	Break
9:30 am	Financial Crises and Lending of Last Resort in Open Economies Luigi Bocola, Stanford University and NBER Guido Lorenzoni, University of Chicago and NBER Discussant: Pierre-Olivier Gourinchas, University of California, Berkeley and NBER
10:45 am	Break
11:00 am	Credit Allocation under Economic Stimulus: Evidence from China Lin William Cong, Cornell University and NBER Jacopo Ponticelli, Northwestern University and NBER Discussant: Tao Zha, Emory University and NBER
12:00 pm	Adjourn and Lunch
6:00 pm	Reception and Dinner Honoring Jeffrey Frankel MIT Samberg Conference Center, 50 Memorial Drive, 7th floor
	Thursday, July 13
8:00 am	Coffee and Pastries
	Exchange Rate Shocks
8:30 am	Commodity Shocks, Firm-level Responses and Labor Market Dynamics Felipe Benguria, University of Kentucky Felipe Saffie, University of Virginia and NBER Sergio S. Urzúa, University of Maryland and NBER Discussant: Philippe Martin, Sciences Po
9:30 am	Break
9:45 am	Price and Consumption Responses to Large Exchange-Rate Shocks: Evidence from the 2015 Appreciation in Switzerland Raphael Auer, Bank for International Settlements Ariel Burstein, University of California, Los Angeles and NBER Sarah Lein, University of Basel and CEPR Discussant: Oleg Itskhoki, Harvard University and NBER
10:45 am	Break
11:00 am	Importing, Exporting and Aggregate Productivity in Large Devaluations Joaquin Blaum, Boston University Discussant: Robert C. Johnson, University of Notre Dame and NBER
12:00 noon	Adjourn and Lunch
	Friday, July 14
8:00 am	Coffee and Pastries
	Sovereign Debt and Default
8:30 am	Sovereign Default Risk and Firm Heterogeneity Cristina Arellano, Federal Reserve Bank of Minneapolis Yan Bai, University of Rochester and NBER Luigi Bocola, Stanford University and NBER Discussant: Vivian Yue, Emory University and NBER
9:20 am	Break
9:45 am	Debauchery and Original Sin: Currency Composition of Sovereign Debt Charles Engel, University of Wisconsin-Madison and NBER Jungjae Park, University of Singapore Discussant: Pablo Ottonello, University of Maryland and NBER
10:45 am	Break
11:00 am	The Politics of Sovereign Default Under Financial Integration Vincenzo Quadrini, University of Southern California and NBER Marina Azzimonti, Federal Reserve Bank of Richmond Discussant: Manuel Amador, University of Minnesota and NBER
12:00 noon	Adjourn and Lunch

Participants

Mark A. Aguiar, Princeton University and NBER
Joshua Aizenman, University of Southern California and NBER
George A. Alessandria, University of Rochester and NBER
Laura Alfaro, Harvard University and NBER
Manuel Amador, University of Minnesota and NBER
Cristina Arellano, Federal Reserve Bank of Minneapolis
Adrien Auclert, Stanford University and NBER
Stefan Avdjiev, Bank for International Settlements
Yan Bai, University of Rochester and NBER
Alessandro Barattieri, The World Bank and UQAM
Yusuf Soner Baskaya, University of Glasgow
Marianne Baxter, Boston University and NBER
Rudolfs Bems, University of Tokyo
Felipe Benguria, University of Kentucky
Paul Bergin, University of California, Davis and NBER
Javier Bianchi, Federal Reserve Bank of Minneapolis
Cagatay Bircan, European Bank for Reconstruction and Development
Laura Blattner, Stanford University
Joaquin Blaum, Boston University
Luigi Bocola, Stanford University and NBER
Christoph Boehm, University of Texas at Austin and NBER
Jorge Braga de Macedo, Universidade Nova de Lisboa and NBER
Markus K. Brunnermeier, Princeton University and NBER
Ariel Burstein, University of California, Los Angeles and NBER
Ricardo J. Caballero, Massachusetts Institute of Technology and NBER
Matteo Cacciatore, HEC Montreal and NBER
Catherine Casanova, Swiss National Bank
Camila Casas, IMF
Alberto Cavallo, Harvard University and NBER
Ambrogio Cesa-Bianchi, Bank of England
Igor Cesarec, New York University
Roberto Chang, Rutgers University and NBER
Anusha Chari, University of North Carolina at Chapel Hill and NBER
Menzie D. Chinn, University of Wisconsin-Madison and NBER
Susan M. Collins, University of Michigan
Giancarlo Corsetti, University of Cambridge
Louphou Coulibaly, University of Wisconsin-Madison and NBER
Javier Cravino, University of Michigan and NBER
José De Gregorio, Universidad de Chile
Michael B. Devereux, University of British Columbia and NBER
Francis X. Diebold, University of Pennsylvania and NBER
Federico J. Diez, International Monetary Fund
Kathryn M.E. Dominguez, University of Michigan and NBER
Michael P. Dooley, University of California, Santa Cruz and NBER
Andrés Drenik, University of Texas at Austin and NBER
Wenxin Du, Harvard University and NBER
Bernard Dumas, INSEAD (France) and NBER
Charles Engel, University of Wisconsin-Madison and NBER
Andrés Fernández, International Monetary Fund
Kristin Forbes, Massachusetts Institute of Technology and NBER
Ana Fostel, University of Virginia and NBER
Jeffrey A. Frankel, Harvard University and NBER
Marcel Fratzscher, DIW Berlin
Jeffry Frieden, Harvard University
Xavier Gabaix, Harvard University and NBER
Jordi Galí, CREI and NBER
Marcio Garcia, PUC-Rio
Fabio Ghironi, University of Washington and NBER
Linda S. Goldberg, Federal Reserve Bank of New York and NBER
Gita Gopinath, International Monetary Fund
Pierre-Olivier Gourinchas, University of California, Berkeley and NBER
Bryan Hardy, Bank for International Settlements
Tarek Alexander Hassan, Boston University and NBER
Takatoshi Ito, Columbia University and NBER
Oleg Itskhoki, Harvard University and NBER
Olivier Jeanne, Johns Hopkins University and NBER
Umar Jeelanie, Jamia Millia Islamia University New-Delhi
Robert C. Johnson, University of Notre Dame and NBER
Ṣebnem Kalemli-Özcan, Brown University and NBER

Graciela L. Kaminsky, George Washington University and NBER
Michael W. Klein, Tufts University and NBER
Anton Korinek, University of Virginia and NBER
Lukas Kremens, University of Washington
Anne O. Krueger, Johns Hopkins University and NBER
Yurim Lee, Central Washington University
Andrei A. Levchenko, University of Michigan and NBER
Richard M. Levich, New York University and NBER
Karen K. Lewis, University of Pennsylvania and NBER
Logan Lewis, Federal Reserve Board
Jin Soo Lin, Bank of Korea
Hanno Lustig, Stanford University and NBER
Matteo Maggiori, Stanford University and NBER
Kalina Manova, University College London
Nancy Marion, Dartmouth College
Nelson Mark, University of Notre Dame and NBER
Philippe Martin, Sciences Po
Daisy McGregor, Bank of England
Isabelle Mejean, Sciences Po
Gian Maria Milesi Ferretti, Brookings Institution
Silvia Miranda-Agrippino, Bank of England
Anujit Mitra, Reserve Bank of India
Dmitry Mukhin, London School of Economics
Emi Nakamura, University of California, Berkeley and NBER
Fernanda Nechio, Federal Reserve Bank of San Francisco
Brent Neiman, University of Chicago and NBER
Pablo Ottonello, University of Maryland and NBER
Nitya Pandalai-Nayar, University of Texas at Austin and NBER
David Papell, University of Houston
Jungjae Park, University of Singapore
Diego J. Perez, New York University and NBER
Paolo A. Pesenti, Federal Reserve Bank of New York and NBER
Gregory Phelan, Williams College
Jacopo Ponticelli, Northwestern University and NBER
Richard Portes, London Business School and NBER
Vincenzo Quadrini, University of Southern California and NBER
Romain Rancière, University of Southern California and NBER
Alessandro Rebucci, Johns Hopkins University and NBER
Chris Redl, International Monetary Fund
Hélène Rey, London Business School and NBER
Ricardo M. Reyes-Heroles, Federal Reserve Board
Robert J. Richmond, New York University and NBER
Alexander Rodnyansky, Princeton University
Felipe Saffie, University of Virginia and NBER
Jesse Schreger, Columbia University and NBER
Nihar Shah, Harvard University
Jay C. Shambaugh, George Washington University and NBER
Hyun Song Shin, Bank for International Settlements
Bent Sorensen, University of Houston
César Sosa-Padilla, University of Notre Dame and NBER
Jón Steinsson, University of California, Berkeley and NBER
Ludwig Straub, Harvard University and NBER
Lars E.O. Svensson, Stockholm School of Economics and NBER
Alan M. Taylor, Columbia University and NBER
Linda Tesar, University of Michigan and NBER
Tomohiro Tsuruga, International Monetary Fund
Yoichi Ueno, Japan Center for Economic Research
Liliana Varela, London School of Economics
Adrien Verdelhan, Massachusetts Institute of Technology and NBER
Carolina Villegas-Sanchez, ESADE Business School
Vadym Volosovych, Erasmus University Rotterdam
Shang-Jin Wei, Columbia University and NBER
Dora Xia, Bank for International Settlements
Sevcan Yeşiltaş, Koç University
Kei-Mu Yi, University of Houston and NBER
Vivian Yue, Emory University and NBER
Jing Zhang, Federal Reserve Bank of Chicago
Julian di Giovanni, Federal Reserve Bank of New York