NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.
                 Universities Research Conference

    Changes in Real Exchange Rates: Causes and Consequences
                                
                        December 8-9, 2000

                   Alan Stockman, Organizer 

                      Royal Sonesta Hotel
                      5 Cambridge Parkway
                          Cambridge, MA 

                       PRELIMINARY PROGRAM

                   Discussants to be Announced

FRIDAY, DECEMBER 8 AND SATURDAY, DECEMBER 9, 2000:

          GIANLUCA BENIGNO, Bank of England
          Real Exchange Rate Persistence and Monetary Policy Rules

          MASANAGA KUMAKURA, University of Cambridge
          Exchange Rate Uncertainty and Dynamics of Traded Goods Prices: 
          An Aggregate View

          MARGARIDA DUARTE, Federal Reserve Bank of Richmond
          Why Don't Macroeconomic Quantities Respond to Exchange Rate Variability?
          Comparing Fixed and Floating Exchange Rate Systems

          ROBERT TRIEST, Federal Reserve Bank of Boston
          Job Creation, Job Destruction, and the Real Exchange Rate

          MARIO CRUCINI, Vanderbilt University
          Dispersion in Real Exchange Rates

          MARIANNE BAXTER, Boston University and NBER
          What Causes Fluctuations in the Terms of Trade?

          DAVID PARSELY, Vanderbilt University
          Explaining the Border Effect:
          The Role of Exchange Rate Variability, Shipping Costs, and Geography

          DAVID COOK, Hong Kong University of Science and Technology
          The Macroeconomic Effects of International Financial Panics


10/31/00