Eurotower, Kaiserstraße 29, D-60311 Frankfurt am Main, Room CIV, 2 nd floor
The name of the presenter is formatted in bold.
|09:00||Opening remarks : O. Issing (ECB)|
|09:15||An International Financial Transmission Model, M. Ehrmann (ECB), M. Fratzscher (ECB) and R. Rigobon (MIT) pdf 332 kB, en.
Discussant : D. Malliaropulos (University of Piraeus and the National Bank of Greece)
|10:15||What Drives International Bank Flows? Politics, Institutions & Other Determinants , E. Papaioannou (London Business School) pdf 2.88 MB, en.
Discussant : C. Ostergaard (Norwegian School of Management)
|11:30||The Contagion Box: Measuring Financial Markets Co-Movements by Regression Quantiles , L. Cappiello (ECB), B. Gerard (Norwegian School of Management) and S. Manganelli (ECB) pdf 332 kB, en.
Discussant : M. Pritsker (Federal Reserve Board)
|12:30||The Real Effect of Banking Crises, G. Dell'Ariccia (IMF), E. Detragiache (IMF), R. Rajan (IMF) pdf 221 kB, en.
Discussant : F. Westermann (University of Munich)
Keynote address : T. Padoa-Schioppa (ECB)
| Session 2:
International Financial Integration, Capital Flows and Institutions
Chairman: A. Mody (IMF)
|14:30||Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation, L. Alfaro (Harvard Business School), S. Kalemli-Ozcan (University of Houston) and V. Volosovych (University of Houston) pdf 354 kB, en.
Discussant : C. Detken (ECB)
|15:30||Sovereign Credit Ratings and International Portfolio Flows , A. Gande (Vanderbilt University) and D. Parsley (Vanderbilt University) pdf 304 kB, en.
Discussant : C. Buch (Tuebingen University)
|16:45||Home Bias in Equities under New Open Economy Macroeconomics, C. Engel (University of Wisconsin) and A. Matsumoto (IMF) pdf 329 kB, en.
Discussant : K. Adjaoute (HSBC Private Bank)
|17:45||Financial Globalisation and Exchange Rates, P. Lane (Trinity College Dublin) and G. M. Milesi-Ferretti (IMF) pdf 230 kB, en.
Discussant : M. Binder (Goethe University, Frankfurt)
|20:00||Dinner at the Frankfurter Hof|
The Role of Real and Financial Linkages in the Synchronisation of the Business Cycle
Chairman: F. di Mauro (ECB)
|09:00||Exploring the International Linkages of the Euro Area: A Global VAR Analysis , S. Dees (ECB), F. di Mauro (ECB), H. Pesaran (University of Cambridge) and V. Smith (University of Cambridge) pdf 956 kB, en.
Discussant : R. Wouters (National Bank of Belgium )
|10:00||Structural Analysis of US and EA Business Cycles , S. Adjémian (Université Maine ), M. Darracq Pariès (ECB) and F. Smets (ECB) pdf 229 kB, en, appendix pdf 920 kB, en.
Discussant : A. Levin (Federal Reserve Board)
|11:15||Business Cycle Synchronisation in the Enlarged EU, Z. Darvas (Magyar Nemzeti Bank) and G. Szapáry (Magyar Nemzeti Bank) pdf 445 kB, en.
Discussant : D. Gros (Centre for European Policy Studies)
|12:15||Synchronised Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate , R. McKinnon (Stanford University) and G. Schnabl (Tuebingen University) pdf 138 kB, en.
Discussant : M. Melvin (Arizona State University)
|14:30-16.00|| Policy Panel : Changing Real and Financial Linkages:
Implications for Transmission of Shocks and for Policy
Chairman: O. Issing (ECB)
J. Gagnon (Federal Reserve Board)
W. McKibbin (Reserve Bank of Australia and ANU)
J. Murray (Bank of Canada)
|16.15-17.00||G. Bekaert (Columbia University)
Keynote lecture on The Real Effects of Financial Liberalisation
|17.00-18.30|| Policy Panel : International Financial Stability and Integration
Chairman: J.-C. Trichet (ECB)
A. Crockett (JP Morgan Chase International)
T. Ito (University of Tokyo)
K. Rogoff (Harvard University)