Conference on Management of Currency Crises

Michael Dooley and Jeffrey Frankel, Organizers

Wednesday, March 28, 2001

6:00 PM Reception and Dinner

Thursday, March 29, 2001

8:15 AM Continental Breakfast

8:45 AM Official Welcome

THE SPECULATORS

9:00 AM
CARMEN REINHART, University of Maryland and NBER
VINCE REINHART, Federal Reserve System

What Hurts Most: G-3 Exchange or Interest Rate Volatility?
Discussant: JOSHUA AIZENMAN, Dartmouth College and NBER

10:00 AM Break

10:15 AM
KENNETH FROOT, Harvard University and NBER
(Joint with TARUN RAMADORAI, Harvard University)

The Information Content of International Portfolio Flows
Discussant: JEFFREY SHAFER, Salomon Smith Barney

11:15 AM Break

THE DEFENSE

11:30 AM
KENNETH WEST, University of Wisconsin-Madison and NBER
DONGCHUL CHO, Korea Development Institute

Interest Rates and Exchange Rates in the Korean, Philippine and Thai Exchange Rate Crises
Discussant: ROBERT DEKLE, University of Southern California

12:30 PM ALLAN DRAZEN, Tel Aviv University and NBER

Interest Rate Defense Against Speculative Attack as a Signal: A Primer
Discussant: ROBERT FLOOD, International Monetary Fund

1:30 PM Lunch

2:30 PM BARRY EICHENGREEN and ANDREW ROSE, UC, Berkeley and NBER

To Defend or Not to Defend? That is the Question
Discussant: PABLO E. GUIDOTTI, Universidad Torcuato di Tella

THE PROGRAM

3:00 PM
OLIVIER JEANNE, International Monetary Fund
CHARLES WYPLOSZ, Graduate Institute of International Studies

The International Lender of Last Resort: How Large is Large Enough
Discussant: OLIVIER BLANCHARD, MIT and NBER

4:00 PM MICHAEL DOOLEY, UC, Santa Cruz and NBER, and SUJATA VERMA, UCSC

The IMF and "Bailing In" the Private Sector
Discussant: ANDREW POWELL, Central Bank of Argentina

5:00 PM Adjourn

7:00 PM Dinner - Sardine Factory Restaurant

Friday, March 30, 2001

8:00 AM Continental Breakfast

8:30 AM
STIJN CLAESSENS, The World Bank
(Joint with DAIELA KLINGEBIEL and LUC LAEVEN, World Bank)

Financial Restructuring in Systemic Crises: What Policies to Pursue?
Discussant: PETER KENEN, Princeton University

9:30 AM
MARTIN EICHENBAUM and SERGIO REBELO, Northwestern University and NBER
CRAIG BURNSIDE, The World Bank

On the Fiscal Implications of Twin Crises
Discussant: KENNETH KLETZER, UC, Santa Cruz

10:30 AM Break

11:00 AM MORRIS GOLDSTEIN, Institute for International Economics

An Evaluation of Proposals to Reform the International Finanacial Architecture
Discussant: ANDREW BERG, International Monetary Fund

12:00 PM Adjourn - Field Trips

7:00 PM Dinner - Chart House Restaurant

Saturday, March 31, 2001

THE IMPACT

8:00 AM Continental Breakfast

8:30 AM YUNG CHUL PARK and JONG HWA LEE, Korea University

Recovery and Sustainability in East Asia
Discussant: RICHARD PORTES, London Business School and NBER

9:30 AM MICHAEL HUTCHISON, UC, Santa Cruz

A Cure Worse Than The Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs
Discussant: GIAN MARIA MILESI-FERRETTI, International Monetary Fund

10:30 AM Break

11:00 AM WILLIAM EASTERLY, The World Bank

IMF and World Bank Structural Adjustment Programs and Poverty
Discussant: TED TRUMAN, Institute for International Economics

12:00 PM
JAMES LEVINSOHN, University of Michigan and NBER
(Joint with STEVEN BERRY and JED FRIEDMAN)

Impacts of the Indonesian Economic Crisis: Price Changes and the Poor
Discussant: LANT PRICHETT, Harvard University

1:00 PM Adjourn

3/19/01