Conference on Currency Crises Prevention

Sebastian Edwards and Jeffrey Frankel, Organizers

THURSDAY, JANUARY 11

7:00 PM Welcoming Reception and Dinner

FRIDAY, JANUARY 12

8:00 AM Continental Breakfast

8:30 AM
Welcoming Remarks: SEBASTIAN EDWARDS, UC, Los Angeles and NBER
JEFFREY FRANKEL, Harvard University and NBER

REGIMES AND FUNDAMENTALS

Chair: JEFFREY FRANKEL, Harvard University and NBER

8:45 AM SEBASTIAN EDWARDS, UC, Los Angeles and NBER

Does the Current Account Matter?
Discussant: ALEJANDRO WERNER, Bank of Mexico

9:45 AM
LUIS FELIPE CESPEDES, New York University
ROBERTO CHANG, Rutgers University
ANDRES VELASCO, Harvard University and NBER

Balance Sheets,Exchange Rate Regimes,and Credible Monetary Policy
Discussant:NOURIEL ROUBINI, New York University and NBER

10:45 AM Coffee Break

11:15 AM
AMARTYA LAHIRI, UC, Los Angeles
CARLOS VEGH, UC, Los Angeles and NBER

Living with the Fear of Floating: An Optimal Policy Perspective
Discussant:EDUARDO BORENSZTEIN, International Monetary Fund

INTERNATIONAL FINANCIAL PLAYERS AND CONTAGION

Chair: MARTIN FELDSTEIN, Harvard University and NBER

12:15 PM ENRIQUE MENDOZA, Duke University and NBER

Credit, Prices, and Crashes: Business Cycles with a Sudden Stop Sudden Stops Economics in an Equilibrium Framework
Discussant:JOSHUA AIZENMAN, Dartmouth College and NBER

1:15 PM Lunch

2:15 PM
GIANCARLO CORSETTI, Yale University
PAOLO PESENTI, Federal Reserve Bank of New York and NBER
NOURIEL ROUBINI, New York University and NBER

The Role of Large Players in Currency Crises
Discussant: JAUME VENTURA, MIT and NBER

3:15 PM LINDA GOLDBERG, Federal Reserve Bank of New York and NBER

When is U.S. Bank Lending to Emerging Markets Volatile?
Discussant: SIMON JOHNSON, MIT

4:15 PM Coffee Break

4:30 PM ROBERTO RIGOBON, MIT and NBER

Contagion: How to Measure it?
Discussant: ENRIQUE MENDOZA, Duke University and NBER

5:30 PM KRISTIN FORBES, MIT and NBER

How Important is Trade in the International Spread of Crises?
Discussant: FEDERICO STURZENEGGER, Universidad Torcuato Di Tella

6:30 PM Adjourn

7:00 PM Reception and Dinner

SATURDAY, JANUARY 13

8:00 AM Continental Breakfast

CAPITAL CONTROLS AND MALAYSIA

Chair: MICHAEL DOOLEY, UC, Santa Cruz and NBER

8:30 AM

ETHAN KAPLAN, Harvard University
DANI RODRIK, Harvard University and NBER

Did the Malaysian Capital Controls Work?
Discussant: LILIANA ROJAS-SUAREZ, Institute for International Economics

9:30 AM RUDIGER DORNBUSCH, MIT and NBER

Malaysia: Was it Different?
Discussant: MICHAEL DOOLEY, UC, Santa Cruz and NBER

10:30 AM Coffee Break

BANKING STRUCTURE AND "CRONY CAPITALISM"

Chair: SEBASTIAN EDWARDS, UC, Los Angeles and NBER

11:00 AM SHANG-JIN WEI, Brookings Institution and NBER

Negative Alchemy? Corruption, Composition of Capital Flows and Currency Crises
Discussant: MARTIN FELDSTEIN, Harvard University and NBER

12:00 PM

ROBERT DEKLE, University of Southern California
KENNETH KLETZER, UC, Santa Cruz

Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia
Discussant: PAOLO PESENTI, Federal Reserve Bank of New York and NBER

1:00 PM Lunch

2:00 PM AARON TORNELL, UC, Los Angeles and NBER

Financial and Monetary Policies in an Economy with Balance Sheet Effects
Discussant:CHARLES CALOMIRIS, Columbia University and NBER

3:00 PM
ANNE KRUEGER, Stanford University and NBER
JUNGHO YOO, Korea Development Institute

Chaebol Capitalism and the Currency-Financial Crisis in Korea
Discussant: JORGE BRAGA DE MACEDO, OECD and NBER

4:00 PM Adjourn

4/4/01