NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.
Conference on Management of Currency Crises Pre-conference
Michael Dooley and Jeffrey Frankel, Organizers
July 20, 2000
Royal Sonesta Hotel
5 Cambridge Parkway
Cambridge, Massachusetts
PRELIMINARY PROGRAM
THURSDAY, JULY 20:
12:00 N Lunch
1:00 PM Welcome and Introduction
MICHAEL DOOLEY, UC, Santa Cruz and NBER
JEFFREY FRANKEL, Harvard University and NBER
THE SPECULATORS
1:15 PM PETER GARBER, Deutsche Bank and NBER
Industrial Country Regulation and Lending to Emerging Markets
1:30 PM KENNETH FROOT, Harvard University and NBER
Behavior of International Investors in Emerging Markets:
Price Pressure and the Information Value of Cross-Border Flows
1:45 PM CARMEN REINHART, University of Maryland and NBER
VINCE REINHART, Federal Reserve System
What Hurts Most?: G-3 Exchange Rate or Interest Rate Volatility?
2:00 PM Break
THE DEFENSE
2:15 PM KENNETH WEST, University of Wisconsin-Madison and NBER
DONGCHUL CHO, Korea Development Institute
Interest Rates and Exchange Rates in the Korean Exchange Rate Crisis
2:30 PM ALLAN DRAZEN, University of Maryland and NBER
Signaling and Defense Against Speculative Attacks
2:45 PM BARRY EICHENGREEN and ANDREW ROSE, UC, Berkeley and NBER
The Best Defense: Why Governments Resist Devaluations and What Costs They Face as a Result of Successful Speculative Attacks
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
3:15 PM MICHAEL DOOLEY, UC, Santa Cruz and NBER
The IMF and Bailing in the Private Sector
3:30 PM STIJN CLAESSENS, The World Bank
Restructuring Domestic Financial Institutions and Corporate Debt Structures
after a Crises
3:45 PM MARTIN EICHENBAUM and SERGIO REBELO, Northwestern University and NBER
CRAIG BURNSIDE, University of Pittsburgh
Fiscal Implications of Twin Crises
4:00 PM MORRIS GOLDSTEIN, Institute for International Economics
An Evaluation of Proposal to Reform the International Monetary System
4:15 PM Break
THE IMPACT
4:30 PM MICHAEL HUTCHISON, UC, Santa Cruz
Macroeconomic Effects of IMF Programs
4:45 PM YUNG CHUL PARK, Korea University
Crises and IMF Structural Adjustment Policies
5:00 PM WILLIAM EASTERLY, The World Bank
Structural Adjustment, Growth, and Poverty Reduction
5:15 PM JAMES LEVINSOHN, University of Michigan and NBER
Income Distribution Following Crisis in Indonesia
(Joint with STEVEN BERRY and JED FRIEDMAN)
5:30 PM Adjourn 7/6/00