AGENDA & PAPERS

*printable schedule in PDF format*

 *click on links below for access to paper drafts and speaker bios*


JIMF-USC Conference 2014 | April 18-19, 2014 | USC Davidson Conference Center                           "Financial Adjustment in the Aftermath of the Global Crisis 2008-09:  New Global Order?" 

FRIDAY, APRIL 18

8:30-9:00am
Continental breakfast

SESSION # 1
Chair: Hashem Pesaran, University of Southern California

9:00-9:50am
“The Corporate Saving Glut in the Aftermath of the Global Financial Crisis” (paper)
Presenter: Steven Kamin, Boards of Governors of the Federal Reserve System (co-author Joseph Gruber)
Discussant: Michael Devereux, University of British Columbia

9:50-10:40am
“Drivers of Structural Change in Cross-Border Banking Since the Global Financial Crisis” (paper)
Presenter: Marcel Fratzscher, DIW Berlin-German Institute for Economic Research (co-author Franziska Bremus)
Discussant: Mark Spiegel, Federal Reserve Bank of San Francisco

10:40-11:10am
Coffee Break

11:10-12:00pm
“Fiscal Multipliers in Expansion and Recession: Does It Matter Whether Government Spending is Going Up or Down” (paper)
Presenter: Carlos Vegh, John Hopkins University (co-authors Daniel Riera-Crichton and Guillermo Vuletin)
Discussant: Yuriy Gorodnichenko, University of Californa Berkeley

LUNCH: 12:00-1:30pm

SESSION # 2
Chair: Vincenzo Quadrini, University of Southern California

1:30-2:20pm
“Liquidity Risk and US Bank Lending at Home and Abroad” (paper)
Presenter: Linda S. Goldberg, Federal Reserve Bank of New York (co-authors Ricardo Correa and Tara Rice)
Discussant: Katheryn Russ, University of California Davis

2:20-3:10pm
“The End of the Great Moderation? Challenges to Economic Stability in Emerging Markets in the Post-Crisis Era” (paper)
Presenter: Michael Hutchison, University of California Santa Cruz (co-author Michael Bergman)
Discussant: Ken Kasa, Simon Fraser University

3:10-3:40pm
Coffee Break

3:40-4:30PM
“Major Financial Events and the Composition of Cross-Border Banking Exposures” (paper)
Presenter: Galina Hale, Federal Reserve Bank of San Francisco (co-authors Eugenio Cerutti and Camelia Minoiu)
Discussant: Viktoria Hnatkovska, University of British Columbia

4:30- 5:20pm Keynote Address
“The Political Economy of Adjustment and Rebalancing”
Presenter: Jeffrey Frieden, Harvard University

RECEPTION & DINNER: 6:00-8:00PM
USC University Club

SATURDAY, APRIL 19

8:30-9:00am
Continental breakfast

SESSION # 3
Chair: Jeff Nugent, University of Southern California

9:00-9:50am
“Japanese Monetary Policy and the Yen: Is There a ‘Currency War’?” (paper)
Presenter: Robert Dekle, University of Southern California (co-author Koichi Hamada)
Discussant: Takeo Hoshi, Stanford University

9:50-10:40am
“Official Financial Flows, Capital Controls, and Global Imbalances” (paper)
Discussant: Joe Gagnon, Peter G. Peterson Institute for International Economics (co-authors Tam Bayoumi and Christian Saborowski)
Discussant: Zheng Liu, Federal Reserve Bank of San Francisco

10:40-11:10am
Coffee Break

11:10-12:00pm
“For a Few Dollars More: Reserves and Growth in Times of Crises” (paper)
Presenter: Matthieu Bussière, Banque de France (co-authors Cheng, Chinn, and Lisack)
Discussant: Helen Popper, Santa Clara University

LUNCH: 12:00-1:30pm

SESSION # 4
Chair: Cheng Hsiao, University of Southern California

1:30-2:20pm
“Institutions and Central Bank Norm Diffusion: Abenomics and the Delayed Break with the Monetary Orthodoxy” (paper)
Presenter: Saori Katada, University of Southern California (co-author Gene Park)
Discussant: Brock Blomberg, Claremont McKenna College

2:20-2:40pm
Coffee Break

2:40-3:30pm
"Goodbye Financial Crash, Hello Financial Repression: Latin American Responses to the 2008-09 Global Financial Crisis” (paper)
Presenter: Manuel Pastor & Carol Wise, University of Southern California
Discussant: Sebastian Edwards, University of California Los Angeles

3:30-4:20pm
"International Reserves Before and After the Global Crisis: Is There No End to Hoarding?" (paper)
Presenter: Hiro Ito, Portland State University (co-authors Joshua Aizenman and YW Cheung)
Discussant: Yu-Chin Chen, University of Washington

4:20-4:30pm
Closing remarks


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Time Line
Presentation – 20 min.
Discussant – up to 15 min
Floor Questions –10 min
Authors’ response – 5 min