Friday, June 4, 2004
Center for Pacific Basin Monetary and Economic Studies, Federal Reserve Bank of San Francisco
and the Center for International Economics, University of Maryland
Agenda Download (PDF -39kb)
Agenda
| 8:30 a.m. | Continental Breakfast | ||
| 8:50 a.m. | Welcoming Remarks | Reuven Glick, Federal Reserve Bank of San Francisco | |
| 9:00 a.m. | Session 1 | “How do Trade and Financial Integration Affect the Relationship between Growth and Volatility?” | |
| Presenters: | Ayhan Kose, Marco E. Terrones, and Eswar Prasad, International Monetary Fund | ||
| Discussant: | Linda Tesar, University of Michigan | ||
| 10:00 a.m. | Break | ||
| 10:30 a.m. | Session 2 | “Macroeconomic Risk and Banking Crises in Emerging Market Countries: Business Fluctuations with Financial Crashes” | |
| Presenters: | Pedro Marcelo Oviedo, Iowa State University | ||
| Discussant: | Michele Cavallo, Federal Reserve Bank of San Francisco | ||
| 11:30 a.m. | Session 3 | “Endogenous Dollarization, Expectations, and Equilibrium Monetary Policy” |
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| Presenters: | Andres Velasco, Harvard University and Roberto Chang, Rutgers University | ||
| Discussant: | Maurice Obstfeld, University of California, Berkeley | ||
| 12:30 p.m. | Lunch | Market Street Dining Room, Fourth Floor | |
| 2:00 p.m. | Session 4 | “Exchange Rate Overshooting and the Costs of Floating” | |
| Presenters: | Fabrizio Perri, New York University, Stern, Michele Cavallo, Federal Reserve Bank of San Francisco, Kate Kisselev, Citigroup, and Nouriel Roubini, New York University, Stern | ||
| Discussant: | Cristina Arellano, Duke University | ||
| 3:00 p.m. | Session 5 | “Dollar Bloc or Dollar Block: External Currency Pricing and the East Asian Crisis” | |
| Presenters: | Michael Devereux, University of British Columbia and David Cook, Hong Kong University of Science and Technology | ||
| Discussant: | Paul Bergin, University of California, Davis | ||
| 4:00 p.m. | Break | ||
| 4:15 p.m. | Session 6 | “Country Spreads and Emerging Countries: Who Drives Whom?” | |
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Panelists:
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Martin Uribe, Duke University, and Vivian Yue, University of Pennsylvania | ||
| Discussant: | Reuven Glick, Federal Reserve Bank of San Francisco | ||
| 5:30 p.m. | Reception | Market Street Dining Room, Fourth Floor | |
| 6:30 p.m. | Dinner | Market Street Dining Room, Fourth Floor | |
| Introduction: | Enrique G. Mendoza, University of Maryland | ||
| Keynote Speaker: | “On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects” Guillermo Calvo, Chief Economist, Inter-American Development Bank, and Director of the Center for International Economics and Distinguished University Professor at the University of Maryland |
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| Saturday, June 5 | |||
| 8:30 a.m. | Continental Breakfast | ||
| 9:00 a.m. | Session 7 | “When in Peril, Retrench: Testing the Portfolio Channel of Contagion” | |
| Presenters: | Fernando Broner, University of Maryland, Gaston Gelos, International Monetary Fund, and Carmen Reinhart, University of Maryland | ||
| Discussant: | Paolo Pesenti, Federal Reserve Bank of New York | ||
| 10:00 a.m. | Break | ||
| 10:15 a.m. | Session 8 | “Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees” | |
| Presenters: | Bora Durdu and Enrique Mendoza, University of Maryland | ||
| Discussant: | Urban Jermann, Wharton Business School | ||
| 11:15 a.m. | Session 9 | Roundtable Discussion: The Policy Response to Financial Crisis | |
| Panelists: | Guillermo Calvo, Chief Economist, IADB and Distinguished University Professor at the University of Maryland, Michael P. Dooley, Professor, University of California, Santa Cruz, and Agustin Carstens, Deputy Managing Director, International Monetary Fund | ||
| 12:30 p.m. | Lunch | ||
| 2:00 p.m. | Session 10 | “Defaultable Debt, Interest Rates and the Current Account” | |
| Presenters: | Gita Gopinath and Mark Aguiar, Chicago Graduate School of Business | ||
| Discussant: | Diego Valderrama, Federal Reserve Bank of San Francisco | ||
| 3:00 p.m. | Session 11 | “Private Capital Flows, Capital Controls, and Default Risk” | |
| Presenters: | Mark Wright, Stanford University | ||
| Discussant: | Kenneth M. Kletzer, University of California, Santa Cruz | ||
| 4:00 p.m. | Adjournment | ||