XI Workshop in International Economics and Finance, Montevideo, 2009

The XI Workshop in International Economics and Finance took place in Montevideo on March 12-13, 2009.

Thursday March 12


Andrés Fernández (Universidad de los Andes/Rutgers University) On the Sources of Aggregate Fluctuations in Emerging Economies 
Discussant: Martin Uribe (Columbia University)


Sandra-Lizarazo (ITAM) Money, Credit and Default
Discussant: Martin Uribe (Columbia University)

12.30-1:45 Lunch

Welcoming Remarks
Mario Bergara, President Banco Central de Uruguay


Lawrence Christiano (Northwestern University and the Federal Reserve Bank of Minnneapolis) V.V. Chari (University of Minnesota and Federal Reserve Bank ofMinneapolis) and Patrick J. Kehoe (Federal Reserve Bank of Minneapolis, University of Minnesota, and NBER) Facts and Myths about the Financial Crisis of 2008
Discussant: Simon Potter (Federal Reserve Bank of New York)


Panel on Rethinking Financial Regulation and Monetary Policy
Chair: Andres Neumeyer, (Universidad Torcato di Tella)

Augusto de la Torre (The World Bank) Regulatory Reform: Integrating Paradigms

Guillermo Calvo (Columbia University) The Simple Macroeconomics of Liquidity Swings and Crashes, A Toxic Stimulus Package 

Friday March 13

9.30 – 10.45

Fernando Broner (Pompeu Fabra) Jaume Ventura (Pompeu Fabra) Rethinking the effects of financial liberalization
Discussant: Fernando Alvarez (University of Chicago)


Alberto Martin (Pompeu Fabra and CREI, CEPR) Nicola Gennaioli (Pompeu Fabra and CREI) Stefano Rossi (Stockholm School of Economics) Institutions and Foreign Finance: Sovereign and Privat Flows
Discussant: Eduardo Fernandez Arias (IADB)

12.30-1:45 Lunch

Ananth Ramanarayanan (Federal Reserve Bank of Dallas) Cristina Arellano (University of Minnesota and Federal Reserve Bank of Minneapolis) Default and the Maturity Structure in Sovereign Bonds
Discussant: Hugo Hopenhayn (UCLA)


Pablo Guerrón-Quintana (North Carolina State University) Martín Uribe (Columbia University), Jesús Fernández-Villaverde (University of Pennsylvania, NBER, and CEPR) and Juan F. Rubio-Ramírez (Duke University and Federal Reserve Bank of Atlanta) Risk Matters: The Real Effects of Volatility Shocks
Discussant: Marco Bonomo (EPGE, Getulio Vargas Foundation)


Veronica Rappoport (Columbia Business School) Natalia Ramondo (University of Texas-Austin) The Role of Multinational Production in a Risky Environment
Discussant:  Alex Monge (Penn State University)

8.30 Conference Dinner

Saturday March 14

9.30 – 10.45

Rebecca Barros (IBRE, Getulio Vargas Foundation) Silvia Matos (IBRE, Getulio Vargas Foundation), Marco Bonomo (EPGE, Getulio Vargas Foundation), Carlos Carvalho (Federal Reserve Bank of New York) Price Setting in a Variable Macroeconomic Environment: Evidence from Brazilian CPI
Discussant: Paul Castillo (Central Bank of Peru)


Yongseok Shin (Washington University in St. Louis and University of Wisconsin-Madison), Paco Buera (UCLA) Productivity Growth and Capital Outflow: The Case of a Small Opening Economy

Discussant: Guido Sandleris (UTDT)
12.30-1:45 Lunch

Romain Rancière (IMF, PSE and CEPR) Aaron Tornell (UCLA and NBER) Systemic Risk-Taking and the US Financial Crisis 
Discussant:  Tito Cordella (The World Bank)


Andrei A. Levchenko (University of Michigan and IMF) Julian di Giovanni (IMF) International Trade and Aggregate Fluctuations in Granular Economies
Discussant: Constantino Hevia (The World Bank)