Sunday, March 16, 2008

Aula 2, Sede Alcorta

9:30-9:45 Welcoming Remarks:

Guillermo Calvo, Larry Christiano

Chair: Guillermo Calvo (Columbia University)

9:45-11:00 “Restructuring the Sovereign Debt Restructuring Mechanism",  Rohan Pitchfor (University of Sydney) and Mark Wright (UCLA)

Discussant: Jonathan Eaton (New York University)

11:00-11:15 Coffee break

Chair: Paloma Casero (The World Bank)

11:15-12:30 “Internal Debt Crises and Sovereign Defaults”, Cristina Arellano (University of Minnesota, Federal Reserve Bank of Minneapolis), Narayana Kocherlakota (University of Minnesota, Federal Reserve Bank of Minneapolis, NBER)

Discussant: Guido Sandleris (Universidad T. Di Tella)

12:30-14:00 Lunch

Chair: David Gould (The World Bank)

14:00-15:15 “Inflating the Beast: Political Incentives under Uncertainty”, Pierre Yared (Columbia University) and Ricardo Caballero (MIT and NBER)

Discussant: Tito Cordella (The World Bank)

15:15-15:30 Coffee break

Chair: Andrew Powell (IADB)

15:30-16:45 “Real Business Cycles in Emerging Countries", Javier Garcia-Cicco (Duke University and NBER), Roberto Pancrazi (Duke University and NBER) and Martin Uribe (Duke University and NBER)

Discussant: Enrique Mendoza (University of Maryland)

16:45-17:00 Coffee break

17:00-18:15 “A Solution to the Default Risk-Business Cycle Disconnect”, Enrique G. Mendoza (University of Maryland and NBER) and Vivian Z. Yue (NYU)

Discussant: Andy Neumeyer (UTDT)

Lunes, 17 de Marzo de 2008

Auditorio, Sede Miñones

Problemas en el norte y fiesta en el sur:

Dilemas de política económica

8:45-9:00 Acreditación y desayuno

9:00-9:30 Bienvenida.

 Álvaro Fernández Bravo, Director, New York University en Buenos Aires

 Andrés Neumeyer, Profesor, Universidad Torcuato Di Tella

 Augusto de la Torre, Economista Jefe para América Latina y el Caribe, Banco Mundial

9:30-10:30 Visión General

Moderador: Guillermo Calvo (Columbia University)

Eduardo Levy-Yeyati, Director y Jefe de Estudios y EStrategia para América Latina, Barclays Capital

“Anatomía de la debacle estadounidense”

Augusto de la Torre, Economista Jefe para América Latina y el Caribe, Banco Mundial

“Lecciones e impacto sobre América Latina”

10:30-10:45 Café

11:00-12:15 Respuestas de política económica

Moderador: Bernardo Kosacoff, Director de CEPAL Buenos Aires

Jose de Gregorio, Presidente, Banco Central de Chile

“El precio del cobre, la crisis sub-prime y la política económica en Chile”

Martín Lousteau, Ministro de Economía y Producción, República Argentina

“Política Económica Argentina”

12:15-12:30 Comentarios finales: Juan Pablo Nicolini, Rector, Universidad T. Di Tella

Monday, March 17, 2008

Aula 2, Sede Alcorta

Chair: Hernán Lacunza (BCRA)

14:00-15:15   “A theory of Liquidity and Regulation of Financial Intermediation”, Emmanuel Farhi (Harvard University and NBER), Mikail Golosov (MIT and NBER) and Aleh Tsyvinski (Harvard University and NBER)

Discussant: Alberto Martín (Universitat Pompeu Fabra)

15:15-15:30 Coffee break

Chair: Eduardo Cavallo (IADB)

15:30-16:45 “A Theory of Credit Scoring and Competitive Pricing of Default Risk", Satyajit Chatterjee (Federal Reserve Bank of Philadelphia), Dean Corbae (University of Texas at Austin), and Jose–Victor Rios-Rull (University of Pennsylvania, University of Minnesota, and CAERP)

Discussant: Lawrence Christiano (Northwestern University)

16:45-17:00 Coffee break

17:00-18:15 “Capital Flows and Asset Prices”, Kosyje Aoki (LSE), Gianluca Benigno (LSE), and Nobuhiro Kiyotaki (Princeton University)

Discussant: Emilio Espino (Universidad T Di Tella)

Tuesday, March 18, 2008

Aula 2, Sede Alcorta

Chair: Miguel Braun (CIPPEC, Universidad de Buenos Aires)

10:00-11:15 “Equilibrium Default", Hugo Hopenhayn (UCLA) and Ivan Werning (MIT)

Discussant: Emmanuel Farhi  (Harvard University)

11:15-11:30   Coffee break

11:30-12:45 “Fiscal Policy over the Real Business Cycle: A Positive Theory”, Marco Battaglini (Princeton University) and Stephen Coate (Cornell University)

Discussant: Ivan Werning (MIT)

12:45-14:15 Lunch

Chair: George Mc Candless (BCRA)

14:15-15:30 “Bankruptcy Law and Credit Market: A General-Equilibrium Approach",  Aloiso Araujo (EPGE/FGV and IMPA) and Bruno Funchal (FUCAPE Business School)

Discussant: Enrique Kawamura (U de San Andrés)

15:30-15:45 Coffee break

15:45-17:00 “Finance and Development: A tale of Two Sectors", Francisco J. Buera ( Northwestern University), Joseph P. Kaboski (Ohio State University) and Yongseok Shin (University of Wisconsin)

Discussant: Juan Pablo Nicolini (UTDT)