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style='mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=625 style='width:468.75pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='mso-fareast-font-family: "Times New Roman"'><!--<div id="topstuff" style="text-align:center"> -->Authors, please upload your paper <a href="http://www.nber.org/confsubmit/backend/form?id=ISOM14">here</a>. <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'>NATIONAL BUREAU OF ECONOMIC RESEARCH, INC. <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'>International Seminar on Macroeconomics <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'>Richard <span class=SpellE>Clarida</span>, Jeffrey Frankel, Francesco <span class=SpellE>Giavazzi</span>, and Hélène Rey, Organizers<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'>June 27-28, 2014 <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'>Bank of Latvia<br> </span>K. <span class=SpellE>Valdemara</span> <span class=SpellE>iela</span> 1B, Riga, Latvia<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><span style='mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6;mso-yfti-lastrow:yes'> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <h2 align=center style='text-align:center'><u><span style='font-size:12.0pt; mso-fareast-font-family:"Times New Roman"'>PROGRAM<br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></u></h2> </td> </tr> </table> <table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0 style='margin-left:-5.4pt;border-collapse:collapse;border:none;mso-yfti-tbllook: 1184;mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-border-insideh:none;mso-border-insidev: none'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=637 colspan=2 valign=top style='width:477.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><u><span lang=EN-GB style='mso-ansi-language:EN-GB'><a href="partlist.pdf">Participant List</a><o:p></o:p></span></u></p> <p class=MsoNormal><u><span lang=EN-GB style='mso-ansi-language:EN-GB'><br> Friday, June 27:<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></span><o:p></o:p></u></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>8:40 am<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Meet in lobby of <span class=SpellE><span style='mso-fareast-font-family:"Times New Roman"'>Neiburgs</span></span><span style='mso-fareast-font-family:"Times New Roman"'> Hotel.</span><span style='mso-spacerun:yes'>  </span>A<span style='mso-fareast-font-family:"Times New Roman"'> Bank of Latvia representative will <span class=GramE>guide<span style='mso-spacerun:yes'>  </span>participants</span> to the seminar venue.<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>9:00 am<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Welcome and Opening Remarks<span style='mso-fareast-language: IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>9:15 am</p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Kristin Forbes, MIT and NBER<br> Marcel <span class=SpellE>Fratzscher</span>, DIW Berlin and Humboldt University Berlin<br> Roland Straub, European Central Bank<br> <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2364486"><i>Capital Controls and <span class=SpellE>Macroprudential</span> Measures: What Are They Good For? </i></a><i style='mso-bidi-font-style:normal'><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></i></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'></td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants:</span></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'></td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Carmen Reinhart, Harvard University and NBER</p> </td> </tr> <tr style='mso-yfti-irow:7'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'></td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'>Hélène Rey, London Business School and NBER<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></span></p> </td> </tr> <tr style='mso-yfti-irow:8'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'>10:30 am<o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Coffee Break<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></p> </td> </tr> <tr style='mso-yfti-irow:9'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span lang=IT style='mso-ansi-language:IT'>10:45 am</span><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Agustin <span class=SpellE>Benetrix</span>, Trinity College Dublin<br> Philip Lane, Trinity College Dublin<br> Jay <span class=SpellE>Shambaugh</span>, George Washington University and NBER<br> <i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language: EN-GB'><a href="Lane_Benetrix_Shambaugh.pdf">International Currency Exposures, Valuation Effects, and the Global Financial Crisis</a></span></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:10'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:11'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants:</span></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:12'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Robert McCauley, Bank for International Settlements, Basel<span lang=EN-GB style='mso-ansi-language:EN-GB'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:13'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span lang=IT style='mso-ansi-language:IT;mso-fareast-language: IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span class=SpellE><span lang=EN-GB style='mso-ansi-language: EN-GB'>Gian</span></span><span lang=EN-GB style='mso-ansi-language:EN-GB'> Maria <span class=SpellE>Milesi</span> <span class=SpellE>Ferretti</span>, IMF </span><span style='mso-fareast-language:IT'><br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:14'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span lang=IT style='mso-ansi-language:IT;mso-fareast-language: IT'>12:00 pm<o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'>Lunch<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:15'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>1:30 pm<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Cecilia <span class=SpellE>Hornok</span>, Hungarian Academy of Sciences<br> <span class=SpellE>Miklos</span> <span class=SpellE>Koren</span>, Central European University<br> <i style='mso-bidi-font-style:normal'><a href="Hornok_Koren.pdf">Lumpy Trade and the Welfare Effects of Administrative Barriers</a><br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></i><b style='mso-bidi-font-weight:normal'><i style='mso-bidi-font-style: normal'><span style='color:black;mso-themecolor:text1;mso-fareast-language: IT'><o:p></o:p></span></i></b></p> </td> </tr> <tr style='mso-yfti-irow:16'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></i></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants:<br> </span></i><span class=SpellE><em><span style='font-style:normal;mso-bidi-font-style: italic'>Konstantins</span></em></span><em><span style='font-style:normal; mso-bidi-font-style:italic'> <span class=SpellE>Benkovskis</span></span></em><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language: EN-GB'>,</span></i><span lang=EN-GB style='mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-GB'> </span><span style='mso-fareast-font-family:"Times New Roman"'>Bank of Latvia</span><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'> <br> </span></i><span lang=EN-GB style='mso-ansi-language:EN-GB'>Ina <span class=SpellE>Simonovska</span>, University of California at Davis and NBER<i style='mso-bidi-font-style:normal'><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></i></span><i style='mso-bidi-font-style:normal'><span style='mso-fareast-language:IT'><o:p></o:p></span></i></p> </td> </tr> <tr style='mso-yfti-irow:17'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>2:45 pm<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Coffee Break<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:18'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:19'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>3:00 pm<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Oscar <span class=SpellE>Jorda</span>, Federal Reserve Bank of San Francisco<br> <em><span style='font-style:normal;mso-bidi-font-style:italic'>Moritz <span class=SpellE>Schularick</span>, </span></em><span class=st>University of Bonn<br> </span><span style='mso-fareast-language:IT'>Alan Taylor, </span>University of California at Davis and NBER<span class=st><br> </span><i style='mso-bidi-font-style:normal'><a href="Jorda_Schularick_Taylor.pdf">Betting the House</a></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:20'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:21'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants: <br> </span></i>Ugo <span class=SpellE>Panizza</span>, The Graduate Institute, Geneva<br> Vincent Reinhart, Morgan Stanley<i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'><br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></span></i><span lang=IT style='mso-ansi-language:IT;mso-fareast-language: IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:22'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>4:15 pm<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span class=SpellE><span style='color:black;mso-themecolor: text1;mso-fareast-language:IT'>Evi</span></span><span style='color:black; mso-themecolor:text1;mso-fareast-language:IT'> <span class=SpellE>Pappa</span>, </span>European University Institute<span style='mso-spacerun:yes'>  </span><a href="PappaSLIDES_NBER14-1.pdf">SLIDES</a><br> <span class=SpellE>Rana</span> <span class=SpellE>Sajedi</span>, European University Institute<br> Eugenia <span class=SpellE>Vella</span>, European University Institute<br> <i style='mso-bidi-font-style:normal'><a href="Pappa_Sajedi_Vella.pdf">Fiscal Consolidation with Tax Evasion and Corruption</a></i><br> <span style='mso-fareast-language:IT'><br> </span><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants:</span></i><span style='mso-fareast-language:IT'><br> </span><span style='mso-fareast-font-family:"Times New Roman"'>Francesco <span class=SpellE>Giavazzi</span>, <span class=SpellE>Bocconi</span> University and NBER<br> </span><span class=SpellE><span style='mso-fareast-language:IT'>Saverio</span></span><span style='mso-fareast-language:IT'> <span class=SpellE>Simonelli</span>, University of Naples Federico II<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:23'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'>5:30 pm<o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Adjourn<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:24'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'>6:30 pm<o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-font-kerning:18.0pt;mso-bidi-font-weight: bold'>Dinner<br> </span>SUITE Restaurant at the Grand Palace Hotel<span style='mso-font-kerning: 18.0pt;mso-bidi-font-weight:bold'><br> </span><span class=SpellE>Pils</span> <span class=SpellE>iela</span> 12, Riga<span style='mso-font-kerning:18.0pt;mso-bidi-font-weight:bold'><br> </span><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><span style='font-size:10.0pt;mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:25'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'></td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:26'> <td width=637 colspan=2 valign=top style='width:477.9pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><u>Saturday, June 28:<br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></u><u><span style='mso-fareast-language:IT'><o:p></o:p></span></u></p> </td> </tr> <tr style='mso-yfti-irow:27'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>8:00 am<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'>Alberto <span class=SpellE>Alesina</span>, </span>Harvard University and NBER<br> Carlo <span class=SpellE>Favero</span>, <span class=SpellE><span style='mso-fareast-font-family:"Times New Roman"'>Bocconi</span></span><span style='mso-fareast-font-family:"Times New Roman"'> University</span><br> <span style='mso-fareast-font-family:"Times New Roman"'>Francesco <span class=SpellE>Giavazzi</span>, <span class=SpellE>Bocconi</span> University and NBER<br> </span><i style='mso-bidi-font-style:normal'><a href="Alesina_Favero_Giavazzi.pdf">The Output Effect of Fiscal Consolidation Plans</a></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:28'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></i></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:29'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants: <br> </span></i><span lang=EN-GB style='mso-ansi-language:EN-GB'>Alan <span class=SpellE>Auerbach</span>,<i style='mso-bidi-font-style:normal'> </i></span>University of California, Berkeley and NBER<br> <span style='mso-fareast-language:IT'>Ethan <span class=SpellE>Ilzetzki</span>, </span>London School of Economics<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:30'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:31'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>9:15 am<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Coffee Break<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:32'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>9:30 am<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Carmen Reinhart, Harvard University and NBER<br> Vincent Reinhart, Morgan Stanley<br> Kenneth <span class=SpellE>Rogoff</span>, Harvard University and NBER<br> <i style='mso-bidi-font-style:normal'><span style='mso-fareast-language:IT'>Effective Defaults on </span>Sovereign Debt in Advanced Countries</i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:33'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:34'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants: <br> </span></i><span style='mso-fareast-font-family:"Times New Roman"'>Richard <span class=SpellE>Clarida</span>, </span>Columbia University and NBER<i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language: EN-GB'><br> </span></i><span lang=EN-GB style='mso-ansi-language:EN-GB'>Richard <span class=SpellE>Portes</span><i style='mso-bidi-font-style:normal'>, </i></span>London Business School and NBER<i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'><br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></span></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:35'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>10:45 am<u><span style='mso-fareast-language:IT'><o:p></o:p></span></u></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span class=SpellE>Harald</span> <span class=SpellE>Hau</span>, University of Geneva<br> <i style='mso-bidi-font-style:normal'><a href="Efing_Hau_Kampkoetter_Steinbrecher.pdf">Incentive Pay and Bank Risk Taking: Evidence from Austrian, German, and Swiss Banks</a><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></i><span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:36'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language:EN-GB'>Discussants:<br> </span></i><span lang=EN-GB style='mso-ansi-language:EN-GB'>Thorsten Beck,<i style='mso-bidi-font-style:normal'> </i></span>Cass Business School<i style='mso-bidi-font-style:normal'><span lang=EN-GB style='mso-ansi-language: EN-GB'><br> </span></i><span lang=EN-GB style='mso-ansi-language:EN-GB'>Anil <span class=SpellE>Kashyap</span>, University of Chicago and NBER</span><i style='mso-bidi-font-style:normal'><span style='mso-fareast-language:IT'><o:p></o:p></span></i></p> </td> </tr> <tr style='mso-yfti-irow:37'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-language:IT'><o:p>&nbsp;</o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:38'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>12:00 pm<span style='mso-fareast-language:IT'><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span lang=EN-GB style='mso-ansi-language:EN-GB'>Lunch and Adjourn<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></span><span lang=EN-GB style='mso-ansi-language:EN-GB;mso-fareast-language: IT'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:39'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal>Walking Tour in Old Town and the Art Nouveau area<br> (participants should meet in <span class=SpellE>Neiburgs</span> Hotel lobby)<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]></p> </td> </tr> <tr style='mso-yfti-irow:40'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'>5:00 pm<br> <br> <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span class=street-address>Dinner<br> </span><span style='mso-fareast-font-family:"Times New Roman"'>Restaurant Riviera</span><span class=street-address><br> <span class=SpellE>Antonijas</span> <span class=SpellE>iela</span>, 13</span><span class=formataddress>, </span><span class=locality><span property="v:locality">Riga</span></span><span style='font-size:10.0pt;mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:41'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="MAP.pdf">MAP</a><o:p></o:p></span></p> </td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:42;mso-yfti-lastrow:yes'> <td width=129 valign=top style='width:96.95pt;padding:0in 5.4pt 0in 5.4pt'></td> <td width=508 valign=top style='width:380.95pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> </table> <p class=MsoNormal style='tab-stops:81.95pt'><span style='mso-fareast-language: IT'><o:p>&nbsp;</o:p></span></p> </div> </body> </html>