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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SI 2015 International Finance & Macroeconomics

Olivier Jeanne and Sebnem Kalemli-Ozcan, Organizers

July 6-10, 2015

Charles Suites
Royal Sonesta Hotel
40 Edwin H. Land Blvd.
Cambridge, MA

PROGRAM

Monday, July 6: Global Financial Cycle
8:00 am	Coffee and Pastries
8:30 am	Luca Dedola, European Central Bank Livio Stracca, European Central Bank If the Fed Sneezes, Who Catches a Cold? Discussant: Victoria Vanasco, Stanford University
9:30 am	Break
9:45 am	Olivier J. Blanchard, International Monetary Fund and NBER Irineu E. de Carvalho Filho, International Monetary Fund Gustavo Adler, International Monetary Fund Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? Discussant: Jeffrey A. Frankel, Harvard University and NBER
10:45 am	Break
11:00 am	Zheng Liu, Federal Reserve Bank of San Francisco Mark M. Spiegel, Federal Reserve Bank of San Francisco Optimal Monetary Policy and Capital Account Restrictions in a Small Open Economy Discussant: Christopher Erceg, Federal Reserve Board
12:00 n	Lunch and Adjourn
4:00 pm	International Finance and Macro Data Sources Project
6:45 pm	Adjourn
Tuesday, July 7: Sovereign Debt
8:00 am	Coffee and Pastries
8:30 am	Viral V. Acharya, New York University and NBER Tim Eisert, Erasmus University Rotterdam Christian Eufinger, IESE Business School Christian Hirsch, Goethe-University Frankfurt Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans Discussant: Anil Kashyap, University of Chicago and NBER
9:30 am	Break
9:45 am	Juan. Hatchondo, Indiana University Leonardo Martinez, International Monetary Fund Francisco Roch, International Monetary Fund Fiscal Rules and the Sovereign Default Premium Discussant: Harald Uhlig, University of Chicago and NBER
10:45 am	Break
11:00 am	Wenxin Du, Federal Reserve Board Jesse Schreger, Harvard University Sovereign Risk, Currency Risk, and Corporate Balance Sheets Discussant: Galina Hale, Federal Reserve Bank of San Francisco
12:00 n	Lunch and Adjourn The afternoon is joint with International Trade & Macroeconomics
Wednesday, July 8: Capital Flows and Global Imbalances
8:00 am	Coffee and Pastries
8:30 am	Gregory Phelan, Williams College Ana Fostel, George Washington University John Geanakoplos, Yale University Global Collateral: How Financial Innovation Drives Capital Flows and Increases Financial Instability Discussant: Emmanuel Farhi, Harvard University and NBER
9:30 am	Break
9:45 am	Zhiguo He, University of Chicago and NBER Arvind Krishnamurthy, Stanford University and NBER Konstantin Milbradt, Northwestern University and NBER A Model of the Reserve Asset Discussant: Pierre-Olivier Gourinchas, University of California at Berkeley and NBER
10:45 am	Break
11:00 am	Vincenzo Quadrini, University of Southern California The Growth of Emerging Economies and Global Macroeconomic Stability Discussant: Loukas Karabarbounis, University of Chicago and NBER
12:00 n	Lunch and Adjourn
6:00 pm	Clambake, Royal Sonesta Hotel, 40 Edwin H. Land Boulevard, Cambridge, MA
Thursday, July 9: Exchange Rates and Global Linkages
8:00 am	Coffee and Pastries
8:30 am	Mary Amiti, Federal Reserve Bank of New York Oleg Itskhoki, Princeton University and NBER Jozef Konings, University of Leuven International Shocks and Domestic Prices: How Large Are Strategic Complementarities? Discussant: Gita Gopinath, Harvard University and NBER
9:30 am	Break
9:45 am	Vania Stavrakeva, London Business School Jenny Tang, Federal Reserve Bank of Boston Exchange Rates and Monetary Policy Discussant: Kenneth D. West, University of Wisconsin at Madison and NBER
10:45 am	Break
11:00 am	Stijn Claessens, Federal Reserve Board Omar Hassib, Maastricht University Neeltje Van Horen, De Nederlandsche Bank Role of Foreign Banks in Tarde Discussant: José-Luis Peydró, Universitat Pompeu Fabra
12:00 n	Lunch and Adjourn
Friday, July 10: Finance-Macro Linkages
8:00 am	Coffee and Pastries
8:30 am	Sina T. Ates, University of Pennsylvania Felipe Saffie, University of Maryland Fewer but Better: Sudden Stops, Firm Entry, and Financial Selection Discussant: George A. Alessandria, University of Rochester and NBER
9:30 am	Break
9:45 am	François Gourio, Federal Reserve Bank of Chicago Michael Siemer, Federal Reserve Board Adrien Verdelhan, Massachusetts Institute of Technology and NBER Uncertainty and International Capital Flows Discussant: Tarek Alexander Hassan, University of Chicago and NBER
10:45 am	Break
11:00 am	Michael B. Devereux, University of British Columbia and NBER Changhua Yu, CCER at Peking University International Financial Integration and Crisis Contagion Discussant: Eric van Wincoop, University of Virginia and NBER
12:00 n	Lunch and Adjourn