NATIONAL BUREAU OF ECONOMIC
RESEARCH, INC.
SUMMER INSTITUTE 2003
International Finance &
Macroeconomics
Allan Drazen and Nouriel Roubini,
Organizers
Jeffrey Frankel, Program Director
Royal Sonesta Hotel
5 Cambridge Parkway
Cambridge, Massachusetts
July 14-18, 2003
PRELIMINARY PROGRAM
MONDAY, JULY 14:
Joint with the INTER-AMERICAN
SEMINAR ON ECONOMICS
Sebastian Edwards and Roberto
Rigobon, Organizers
Monday, July 14
program to be announced
TUESDAY, JULY 15:
8:30 AM Coffee and
Pastries
Meeting in honor of Rudiger
Dornbusch
9:00 AM JON FAUST,
JOHN ROGERS, WANG SHING-YI and JONATHAN WRIGHT,
Federal
Reserve Board
The
High-Frequency Response of Exchange Rates and Interest Rates to Macroeconomic
Announcements
Discussant:
ROBERT FLOOD, International Monetary Fund
10:00 AM Break
10:15 AM YIN- WONG CHEUNG, UC, Santa Cruz
MENZIE
D. CHINN, UC, Santa Cruz and NBER
ANTONIO
GARCIA PASCUAL, International Monetary Fund
Empirical
Exchange Rate Models of the Nineties: Are Any Fit to Survive?
Discussant: MARIO CRUCINI,
Vanderbilt University
11:15 AM Break
11:30 AM GUILLERMO CALVO, University of Maryland and NBER
MICHAEL
KUMHOF, Stanford University
Trade
Openness And Exchange Rate Misalignments
Discussant:
JEFFREY FRANKEL, Harvard University and NBER
12:30 PM Reminiscences of Rudi Dornbusch
1:00 PM Lunch and Adjourn
WEDNESDAY, JULY 16:
8:30 AM Coffee
and Pastries
Capital Flows
9:00 AM PHILLIP
LANE, Trinity College, Dublin
GIAN-MARIA
MILESI-FERETTI , International Monetary Fund
International
Financial Integration
Discussant: PAOLO PESENTI, Federal Reserve Bank of New York and NBER
10:00 AM Break
10:15 AM KRISTIN FORBES, MIT and NBER
One
Cost of Chilean Capital Controls:
Increased
Financial Constraints for Smaller Traded Firms
Discussant:
LINDA GOLDBERG, Federal Reserve Bank of New York and NBER
11:15 AM Break
11:30 AM LAURA ALFARO, Harvard University
SEBNEM
KALEMLI- OZCAN and VADYM VOLOSOVYCH, University of Houston
Why Doesnt Capital Flow from Rich
Countries to Poor Countries?
Discussant: MICHAEL KLEIN, Tufts University and NBER
12:30 PM Lunch and Adjourn
6:00 PM Clambake,
Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
THURSDAY, JULY 17:
8:30 AM Coffee
and Pastries
Emerging
Markets
9:00 AM ANDREW
HALDANE, ADRIAN PENALVER and VICTORIA SAPORTA,
Bank
of England
HYUN
SONG SHIN and London of School of Economics
Analytics
of Sovereign Debt Restructuring
Discussant:
MICHAEL DOOLEY, UC, Santa Cruz and NBER
10:00 AM Break
10:15 AM JOSEPH JOYCE, Wellesley College
Promises Made, Promises Broken: A Model of IMF Program Implementation
Discussant:
RATNA SAHAY, International Monetary Fund
11:15 AM Break
11:30 AM GALINA HALE, Yale University
Bonds
or Loans? The Effect of Macroeconomic Fundamentals
Discussant:
GITA GOPINATH, University of Chicago
12:30 PM Lunch and Adjourn
FRIDAY, JULY 18:
9:00 AM Coffee
and Pastries
Asset
and Exchange Rate Markets
9:30
AM ANNA PAVLOVA, MIT
ROBERTO
RIGOBON, MIT and NBER
Asset
Prices and Exchange Rates
Discussant:
HELENE REY, Princeton University and NBER
10:30 AM Break
11:00 AM MARTIN EVANS, Georgetown University and NBER
RICHARD LYONS, UC, Berkeley and NBER
A
New Micro Model of Exchange Rate Dynamics
Discussant: NELSON MARK, Ohio
State University and NBER
12:00 N Lunch