Emerging Markets: Capital Flows, Debt Overhang, Inflation, and Growth

Cristina Arellano, Saki Bigio, and Paulina Restrepo-Echavarria, Organizers

May 20-21, 2024

Lima, Peru

Conference Code of Conduct

Monday, May 20
9:00 am

Arbitraging Covered Interest-Rate Parity Deviations and Bank Lending (slides)
Discussant: Juliana Salomao, University of Minnesota and NBER (slides)
Break
10:15 am

A Quantitative Theory of Hard and Soft Sovereign Defaults
Discussant: Julian Kozlowski, Federal Reserve Bank of St. Louis (slides)
Break
11:30 am

Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds
Discussant: Yan Bai, University of Rochester and NBER (slides)
Break
2:00 pm

Sectoral Development Multipliers (slides)
Discussant: Jorge Miranda-Pinto, International Monetary Fund (slides)
Adjourn
3:15 pm

Devaluations, Deposit Dollarization, and Household Heterogeneity
Discussant: Alberto Humala, Central Bank Peru (slides)
Break
4:30 pm

Tax Revolts and Sovereign Defaults (slides)
Discussant: Leonardo Martinez, International Monetary Fund
Adjourn
Tuesday, May 21
9:00 am

Monetary Policy and the Short-Rate Disconnect in Emerging Economies
Discussant: Pablo Ottonello, University of Maryland, College Park and NBER
Break
10:15 am

The Surge in Emerging Markets' International Reserves and the Rise in Global Volatility
Discussant: Luis Gonzalo Llosa Velásquez, Universidad del Pacífico
Break
11:30 am

Capital Flows, Structural Change, and Productivity Growth (slides)
Discussant: Juan M. Sanchez, Federal Reserve Bank of St. Louis
Lunch
2:00 pm

Inflation and Capital Flows (slides)
Discussant: Roberto Chang, Rutgers University and NBER (slides)
Break
3:15 pm

Models of Balance of Payments Crisis with Capital Controls (slides)
Discussant: Manuel Amador, University of Minnesota and NBER
Break
4:30 pm
Policy Panel: Fiscal and Monetary Challenges in Emerging Markets
Timothy Kehoe, University of Minnesota and NBER
Federico Sturzenegger, Universidad San Andres
Jose Uribe, Executive President of FLAR
Julio Velarde, Governor of the Central Bank of Peru