The Global Financial Crisis

Sponsored by the NBER and Sloan Foundation


The National Press Club

Holeman Lounge

529 14th Street, NW, 13th Floor

Washington, DC 20045


September 22, 2011



Welcome and Introduction


Kristin Forbes (MIT and NBER)



10:15am  to 11:30am

Increased Financial Integration and Capital Flows: Aggravating or Ameliorating Crises?

Session Introduction:

Charles Engel  (University of Wisconsin and NBER)

Discussion Leader:

David Wessel  (Wall Street Journal)


Mohammad El Erian  (PIMCO)


Pierre-Olivier Gourinchas (University of California at Berkeley and NBER)


Philip Lane  (Trinity College Dublin)



11:45am to 1:00pm

Lunch  - Murrow Conference Rooms

Lunch Speaker - Lael Brainard, Under Secretary for International Affairs in the U.S. Treasury Department



1:00pm to 2:15pm

Global Contagion: What was the Role of Banks, Investors and Trade? 

Session Introduction:

Mark Spiegel  (Federal Reserve Bank of San Francisco)

Discussion Leader:

Sebastian Mallaby (Council on Foreign Relations)


Joyce Chang (JP Morgan)


Marcel Fratzscher (ECB)


Guillermo Ortiz (GO & Asociados)



2:15pm to 2:30pm

Coffee Break



2:30pm to 4:00pm

Reducing Country Vulnerability: Capital Controls, Reserves, the IMF, or something New?

Session Introduction:

 Jeffrey Frankel (Harvard University and NBER)

Discussion Leader:

Zanny Minton-Beddoes (Economist)


Erdem Basci (Central Bank of Turkey)


Olivier Blanchard (IMF, MIT, and NBER)


Kathryn Dominguez (University of Michigan and NBER)