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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2011

 

International Finance and Macroeconomics Workshop

 

Jeffrey Frankel, Program Chair

Pierre-Olivier Gourinchas and Michael Klein, Organizers

 

July 11 - 14, 2011

 

Royal Sonesta Hotel

Parkview

40 Edwin H. Land Blvd.

Cambridge, Massachusetts

 

PROGRAM

 

 

Monday, July 11:

 

 

 

 

8:00 am

Coffee and Pastries

 

 

 

 

 

Financial Crisis

 

 

 

 

8:30 am

Frederic Boissay, European Central Bank

 

 

Financial Imbalances and Financial Fragility

 

 

 

 

 

Discussant: Itay Goldstein, University of Pennsylvania

 

 

 

 

9:30 am

Break

 

 

 

 

9:45 am

Oscar Jorda, University of California at Davis

 

 

Moritz Schularick, Free University of Berlin

 

 

Alan Taylor, Morgan Stanley and NBER

 

 

Financial Crises, Credit Booms and External Imbalances: 140 Years of Lessons

 

 

 

 

 

Discussant: Michael Bordo, Rutgers University and NBER

 

 

 

 

10:45 am

Break

 

 

 

 

11:00 am

Ethan Ilzetzki, London School of Economics

 

 

Enrique Mendoza, University of Maryland and NBER

 

 

Carlos Vegh, University of Maryland

 

 

How Big (Small?) are Fiscal Mutlipliers?

 

 

 

 

 

Discussant: Yuriy Gorodnichenko, University of California at Berkeley and NBER

 

 

 

 

12:00 n

Adjourn and Lunch

 

 

 

 

Tuesday, July 12:

 

 

 

 

8:00 am

Coffee and Pastries

 

 

 

 

 

Imbalances and Rebalancing

 

 

 

 

8:30 am

Alberto Martin, CREI

 

 

Filippo Taddei, Collegio Carlo Alberto

 

 

International Capital Flows and Credit Market Imperfections: A tale of two frictions

 

 

 

 

 

Discussant: Pablo Kurlat, Stanford University and NBER

 

 

 

 

9:30 am

Break

 

 

 

 

9:45 am

Nicolas Coeurdacier, Sciences Po University

 

 

Stephane Guibaud, London School of Economics

 

 

Keyu Jin, London School of Economics

 

 

Credit Constraints and Growth in a Global Economy

 

 

 

 

 

Discussant: Christopher Carroll, John Hopkins University and NBER

 

 

 

 

10:45 am

Break

 

 

 

 

11:00 am

Philippe Bacchetta, University of Lausanne

 

 

Kenza Benhima, University of Lausanne

 

 

The Demand for Liquid Assets, Corporate Saving, and Global Imbalances

 

 

 

 

 

Discussant: Olivier Jeanne, John Hopkins University and NBER

 

 

 

 

12:00 n

Adjourn and Lunch

 

 

 

 

1:00 pm

International Trade and Macroeconomics Session

 

 

Paul Bergin and Fabio Ghironi, Organizers

 

 

Program

 

 

 

 

Wednesday, July 13:

 

 

 

 

8:00 am

Coffee and Pastries

 

 

 

 

 

Sovereign Debt

 

 

 

 

8:30 am

Juan Carlos Hatchondo, Federal Reserve Bank of Richmond

 

 

Leonardo Martinez, Federal Reserve Bank of Richmond

 

 

Cesar Sosa Padilla, University of Maryland

 

 

Debt Dilution and Sovereign Default Risk

 

 

 

 

 

Discussant: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia

 

 

 

 

9:30 am

Break

 

 

 

 

9:45 am

Peter Benczur, National Bank of Hungary

 

 

Cosmin Ilut, Duke University

 

 

Evidence for Dynamic Contracts in Sovereign Bank Lending

 

 

 

 

 

Discussant: Jonathan Eaton, Pennsylvania State University and NBER

 

 

 

 

10:45 am

Break

 

 

 

 

11:00 am

Luis Catao, International Monetary Fund

 

 

Ana Fostel, George Washington University

 

 

Romain Ranciere, International Monetary Fund

 

 

Sudden Stops and Sovereign Defaults

 

 

 

 

 

Discussant: Oleg Itskhoki, Princeton University and NBER

 

 

 

 

12:00 n

Adjourn and Lunch

 

 

 

 

6:00 pm

Clambake: Harvard Faculty Club, 20 Quincy Street, Cambridge, MA

 

 

 

 

Thursday, July 14:

 

 

 

 

8:00 am

Coffee and Pastries

 

 

 

 

 

Money and Assets

 

 

 

 

8:30 am

Tobais Adrian, Federal Reserve Bank of New York

 

 

Erkko Etula, Harvard University

 

 

Hyun Song Shin, Princeton University and NBER

 

 

Risk Appetite and Exchange Rates

 

 

 

 

 

Discussant: Kenneth Froot, Harvard University and NBER

 

 

 

 

9:30 am

Break

 

 

 

 

9:45 am

Rebecca Hellerstein, Federal Reserve Bank of New York

 

 

William Ryan, Federal Reserve Bank of New York

 

 

Cash Dollars Abroad

 

 

 

 

 

Discussant: Gita Gopinath, Harvard University and NBER

 

 

 

 

10:45 am

Break

 

 

 

 

11:00 am

Tarek Hassan, University of Chicago and NBER

 

 

Country Size, Currency Unions, and International Asset Returns

 

 

 

 

 

Discussant: Roberto Rigobon, Massachusetts of Technology and NBER

 

 

 

 

12:00 n

Adjourn and Lunch