Sunday, July 19th, 2026 - Fundação Getulio Vargas - Cultural Center

Welcoming Remarks, Fernando Alvarez, University of Chicago

Chair: Fernando Alvarez, University of Chicago
8.30-9.25 Tâtonnement and Price Setting in General Equilibrium 
Ivan Werning, Massachusetts Institute of Technology
Co-authors: Guido Lorenzoni (University of Chicago)

Chair: Felipe Iachan, Fundação Getulio Vargas EPGE
09:25-10:20 ​On the Resilience of Payment Methods
Fernando Alvarez, University of Chicago
Co-authors: David Argente, Diana Van Patten

10:20 – 10:40  Coffee Break

Chair: Fernando Mendo, PUC-Rio
10.40-11.35 Pricing Mistakes and the (Non)-Neutrality of Money
Tomás Caravello, Massachusetts Institute of Technology

Chair: Karen K. Lewis, Wharton School, University of Pennsylvania
11:35-12:30 A General Equilibrium Trade Model with the Least-Traded Products Margin
Timothy Kehoe, University of Minnesota
Co-authors: Kim J. Ruhl, Xing Xu


Monday, July 20th, 2026 - Fundação Getulio Vargas - Cultural Center

Chair: Fernando Alvarez, University of Chicago
8.45-9.45 Panel Discussion: Fiscal Policy in Latin America
Jessica Roldán, CAF- banco de Desarrollo de América Latina y el Caribe
Guillermo Vuletín, The World Bank
Joao Ayres, IADB

Chair: Yvan Becard, PUC-Rio
9:45-10:40 Cross-sectional Identification with Heterogeneous Exposure to General Equilibrium Effects
Paula Donaldson, UC San Diego / Brown University

10:40 – 10:55  Coffee Break

Chair: Pedro Cavalcanti Ferreira, Fundação Getulio Vargas EPGE
10:55-11:50 From Skills to Occupations: Comparative Advantage and Cross-Country Income Differences
Alexander Monge-Naranjo, Federal Reserve Bank of Atlanta, Emory University & CEPR
Co-authors: Charles Gottlieb, Jan Grobovsek

12:00– 1:00 Lunch

Chair: Fernando Alvarez, University of Chicago
1:05-2:10 The Growth and Fiscal Cost of Late Aging: Demographic Drag and Compressed Fiscal Adjustment
Selahattin Imrohoroglu, USC Marshall School of Business

2:10-3:05 Inflation Targeting under Fiscal Fragility
Rafael Santos, Fundação Getulio Vargas EPGE
Co-authors: Aloisio Araujo (EPGE/FGV & IMPA), Vitor Costa (IMPA), Paulo Lins (University of Rochester), Serge de Valk (EPGE/FGV)

Chair: Fernando Arce, IADB-Federal Reserve Bank of Chicago
3:05-4:00 Mussa meets Backus-Smith: The Role of Primary Commodities
Joao Ayres, Inter-American Development Bank
Co-authors: Constantino Hevia (UTDT), Juan Pablo Nicolini (UTDT)

4:00-4:30 Cocktail

Chair: Marcelo Moreira, Fundação Getulio Vargas EPGE
4:30-5:40 PLENARY LECTURE: Asset Pricing, Decision Theory, and Public Policy Design
Lars Peter Hansen, University of Chicago