NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



INTERNATIONAL FINANCE AND MACROECONOMICS PROGRAM MEETING

Richard Lyons and Andrew Rose, Organizers

March 22, 2002

NBER, Offices

1050 Massachusetts Avenue

Cambridge, Massachusetts

PROGRAM

THURSDAY, MARCH 21, 2002

6:00 PM Dinner

Davio's Restaurant

5 Cambridge Parkway

Cambridge, MA



FRIDAY, MARCH 22, 2002



7:45 AM Shuttle Van Departs Royal Sonesta Hotel for 1050 Mass. Avenue.



8:00 AM Shuttle Van Departs Royal Sonesta Hotel for 1050 Mass. Avenue.



8:00 AM Continental Breakfast



8:30 AM MICHELE CAVALLO,New York University

FABRIZIO PERRI, New York University

NOURIEL ROUBINI, New York University and NBER

KATE KISSELEV, New York University

Exchange Rates Overshooting and the Costs of Floating



Discussants: KRISTIN FORBES, U.S. Department of the Treasury and NBER

ANDRES VELASCO, Harvard University and NBER



9:45 AM PHILIPPE MARTIN, Federal Reserve Bank of New York

HELENE REY, Princeton University and NBER

Financial Globalization and Emerging Markets: With or Without Crash?

Discussants: AARON TORNELL, UC, Los Angeles and NBER

ENRIQUE MENDOZA, Maryland and NBER



11:00 AM Break



11:15 AM MICHAEL DEVEREUX, University of British Columbia

CHARLES ENGEL, University of Wisconsin and NBER

Exchange Rate Pass-Through, Exchange Rate Volatility,

and Exchange Rate Disconnect



Discussants: PIERRE-OLIVIER GOURINCHAS, Princeton University and NBER

ALAN STOCKMAN, University of Rochester and NBER

Over, Please!

International Finance and Macroeconomics Program Meeting, Page 2:

12:30 PM Lunch- Organized Discussion on Argentina

Speakers: NOURIEL ROUBINI, New York University and NBER

RICHARDO HAUSMANN, Harvard University

MICHAEL GAVIN, UBS Warburg LLC



2:00 PM KENNETH FROOT, Harvard University and NBER

TARUN RAMADORAI, Harvard University

Currency Returns, Institutional Investor Flows, and Exchange-Rate Fundamentals

Discussants: FRANK DIEBOLD, University of Pennsylvania and NBER

BERNARD DUMAS,INSEAD and NBER

3:15 PM Break



3:30 PM DAVID PARSLEY, Vanderbilt University

SHANG-JIN WEI, International Monetary Fund and NBER

Currency Arrangements and Goods Market Integration:

A Price-Based Approach



Discussants: LINDA GOLDBERG, Federal Reserve Bank of New York and NBER

JOHN ROGERS, Federal Reserve Board

4:45 PM Adjourn



3/21/02