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Friday, 17 March
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09.15-09.30
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Welcoming Remarks
Jaume Ventura (CREI, Universitat Pompeu Fabra and CEPR)
Session 1
Chair: Diego Puga (CREI, Universitat Pompeu Fabra and CEPR)
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09.30-11.10
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Globalization and Risk-Sharing
Fernando Broner (CREI, Universitat Pompeu Fabra and CEPR)
*Jaume Ventura (CREI, Universitat Pompeu Fabra and CEPR)
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Discussant:
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Andrei A. Levchenko (IMF)
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The Structural Determinants of External Vulnerability
*Norman Loayza (The World Bank)
Claudio Raddatz (The World Bank)
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Discussant:
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Paolo Mauro (IMF)
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11.10-11.30
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Break
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11.30-13.10
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Schumpeterian Restructuring
*Patrick Francois (Tilburg, UBC and CEPR)
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Discussant:
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Thierry Tressel (IMF)
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A Theory of Growth and Volatility at the Aggregate and Firm Level
*Diego Comin (NYU)
Sunil Mulani (Analysis Group)
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Discussant:
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Claudio Raddatz (The World Bank)
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13.10-14.30
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Lunch
Session 2
Chair: Jaume Ventura (CREI, Universitat Pompeu Fabra and CEPR)
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14.30-16.10
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Banks, Liquidity Crises and Economic Growth
*Alejandro Gaytán (Banco de Mexico)
*Romain Rancičre (IMF and Universitat Pompeu Fabra)
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Discussant:
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Fabio Braggion (Tilburg University)
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Iliquidity, Financial Development and the Growth-Volatility Relationship
*Enisse Kharroubi (Bank of France)
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Discussant:
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Arturo Galindo (Universidad de Los Andes)
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16.10-16.30
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Break
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16.30-18.10
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Characterizing the Business Cycles of Emerging Economies
César Calderón (The World Bank)
Rodrigo Fuentes (Central Bank of Chile)
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Discussant:
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Gian Luca Clementi (Stern School of Business - New York University)
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Aid Volatility and Dutch Disease: Is There a Role for Macroeconomic Policies?
*Alessandro Prati (IMF)
Thierry Tressel (IMF)
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Discussant:
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Kolawole Olayiwola (Development Alternatives and Resource Centre)
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18.10-18.30
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Break
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18.30-20.10
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Policy Panel on the Growth and Welfare Effects of Macroeconomic Volatility
Chair: Hans-Joachim Voth (Universitat Pompeu Fabra and CEPR)
Philippe Aghion (Harvard University)
Carlo Cottarelli (IMF)
Luis Servén (The World Bank)
Boris Vujčić (Croatian National Bank)
Alejandro Werner (Mexican Ministry of Finance)
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21.30
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Conference Dinner
Restaurant Visit
Carrer Vergara, 8
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Saturday, 18 March
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Session 3
Chair: Norman Loayza (The World Bank)
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09.30-11.10
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Inefficient Credit Booms
*Guido Lorenzoni (MIT)
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Discussant:
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Alberto Martin (CREI and Universitat Pompeu Fabra)
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Creditor Protection and Credit Volatility
Arturo Galindo (Universidad de Los Andes)
*Alejandro Micco (Central Bank of Chile)
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Discussant:
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Brian Pinto (The World Bank)
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11.10-11.30
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Break
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11.30-13.10
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Policy Volatility, Institutions and Economic Growth
Antonio Fatás (INSEAD and CEPR)
*Ilian Mihov (INSEAD and CEPR)
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Discussant:
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Vicente Tuesta (Central Bank of Peru)
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Exchange Rate Volatility and Productivity Growth: The Role of Financial Development
*Philippe Aghion (Harvard University and CEPR)
Philippe Bacchetta (Studienzentrum Gerzensee, Universite de Lausanne and CEPR)
Romain Rancičre (IMF and Universitat Pompeu Fabra)
Ken Rogoff (Harvard University and IMF)
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Discussant:
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Valerie Cerra (IMF)
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13.10-14.30
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Lunch
Session 4
Chair: José Garcia-Montalvo (Universitat Pompeu Fabra)
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14.30-16.10
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Trade Openness, Output Volatility and the Risk Content of Exports
*Julian di Giovanni (IMF)
Andrei Levchenko (IMF)
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Discussant:
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Jaime de Melo (Université de Geneve)
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Technological Diversification
Miklós Koren (Federal Reserve Bank of New York)
*Silvana Tenreyro (LSE and CEPR)
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Discussant:
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Jean Imbs (HEC - Lausanne and CEPR)
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16.10-16.30
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Break
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16.30-18.10
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The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuations
*Ricardo Reis (Princeton University and CEPR)
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Discussant:
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Albert Marcet (CREI, IAE, Universitat Pompeu Fabra and CEPR)
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Predictable Life-Cycle Shocks, Income Risk and Consumption Inequality
Giorgio Primiceri (Northwestern University)
*Thijs Van Rens (CREI - Universitat Pompeu Fabra)
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Discussant:
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Miklós Koren (Federal Reserve Bank of New York)
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21.00
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Closing Dinner
Restaurant La Camarga
Carrer Aribau, 117
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Speakers have 30 minutes to present their paper, with 10 minutes for discussants and 10 minutes for general discussion.
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*Denotes presenter
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Organizers:
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Norman Loayza (The World Bank)
Romain Rancičre (IMF and Universitat Pompeu Fabra)
Jaume Ventura (CREI, Universitat Pompeu Fabra and CEPR)
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