Federal Reserve Bank of San Francisco

Economic Research

2012pacificbasin

November 9, 2012
Federal Reserve Bank of San Francisco

8:15 AM Continental Breakfast
8:45 AM Welcoming Remarks: John C. Williams, President, Federal Reserve Bank of San Francisco
9:00 AM Session 1: International Pricing
IKEA: Product, Pricing, and Pass-Through

*Marianne Baxter, Boston University 
Anthony Landry, Federal Reserve Bank of Dallas
Discussants: John Rogers, Board of Governors of the Federal Reserve System
Alberto Cavallo, MIT Sloan School of Management
10:00 AM Break
10:30 AM Session 2: Capital Controls
Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

*Kristin Forbes, MIT Sloan School of Management 
Marcel Fratzscher, European Central Bank
Thomas Kostka, European Central Bank
Roland Straub, European Central Bank
Discussants: Michael Hutchison, University of California, Santa Cruz
Andrew Rose, University of California, Berkeley
Capital Controls: a normative analysis
*Bianca De Paoli, Federal Reserve Bank of New York 
Anna Lipinska, Board of Governors of the Federal Reserve System
Discussants: Mario Crucini, Vanderbilt University
Luca Guerrieri, Board of Governors of the Federal Reserve System
12:30 PM Lunch
2:30 PM Session 3: Global Imbalances and International Reserves
Reserve Accumulation, Growth and Financial Crises

*Giancula Benigno, London School of Economics 
Luca Fornaro, London School of Economics
Discussants: Javier Bianchi, University of Wisconsin-Madison / NBER
Joshua Aizenman, University of California, Santa Cruz
3:30 PM Break
4:00 PM Session 3 – continued.
Monetary Policy in a DSGE Model with “Chinese Characteristics”

Chun Chang, Shanghai Advanced Institute of Finance 
Zheng Liu, Federal Reserve Bank of San Francisco
*Mark Spiegel, Federal Reserve Bank of San Francisco
Discussants: Mick Devereux, University of British Columbia
Carl Walsh, University of California, Santa Cruz
Trade Reform and Current Account Imbalances: When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?
Jiandong Ju, University of Oklahoma 
Kang Shi, Chinese University of Hong Kong
*Shang-Jin Wei, Columbia University
Discussants: Nelson Mark, University of Notre Dame
Vincenzo Quadrini, University of Southern California
6:00 PM Reception
6:30 PM Dinner
7:15 PM Keynote Address: Athanasios Orphanides, MIT Sloan School of Management
*Presenter