28^th & 29^th January 2010 - Conference “Economic Linkages, Spillovers and the Financial Crisis”

The Banque de France Chair of the Paris School of Economics and the International Monetary Fund are organizing a conference on “Economic Linkages, Spillovers and the Financial Crisis”, which will be held in Paris on the 28^th and 29^th of January 2010.

The conference will bring together leading academics and policy makers working on current global policy issues, including global imbalances, international trade, international business cycles, financial bubbles, and relevant aspects of the financial crisis.

A panel discussion, chaired by Jean-Pierre Landau, will end this conference in the presence of Olivier Blanchard, François Bourguignon, Daniel Cohen, Jean-Luc Schneider and Beatrice Weder di Mauro. This panel, special moment in terms of debate between speakers and the assembly, will be followed by a cocktail from 16:30.

The conference will take place at the Palais Brongniart, 75002, Paris.
To register :
download this document and email it to conference-bdf-pse at parisschoolofeconomics.eu.
Invitations will be allocated on a first-come, first-served basis.

Financial support from Cepremap is gratefully aknowledged .

Programm and Papers

1ST DAY, Thursday, 28 January 2010

Welcome and registration starts at 8:30, Palais Brongniart.

8:45-9:00. Welcome address: joint address by François Bourguignon and Pierre Jaillet

1^st session 9:00-11:00: Opening Session, Chair: Pierre Jaillet - Banque de France

• Maury Obstfeld - Berkeley & Ken Rogoff - Harvard : “Global Imbalances and the Financial Crisis: Products of Common Causes” Discussant: Franck Smets - Banque Centrale Européenne
• Olivier Blanchard & Hamid Faruqee - FMI: “Emerging Markets and the Global Financial Crisis” Discussant: Hélène Rey - London Business School

Coffee break: 11:00-11:20

2^nd session 11:20-12:50, Banks and Bubbles, Chair : Benoit Coeuré - DGTPE

• Nicola Cetorelli & Linda Godlberg - NY Fed, “Global Banks and International Shock Transmission: Evidence from The Crisis” Discussant: Romain Rancière - PSE
• Alberto Martin & Jaume Ventura - CREI Barcelona, “Theoretical Notes on Bubbles and the Current Crisis” Discussant: Stavros Panageas - Chicago Business School

Lunch break 13:00-14:30

3^rd session 14:30-16:00, Financial Linkages, Chair: François Bourguignon - PSE

• Jean Imbs - Lausanne/PSE, “The First Global Recession in Decades” Discussant: Fabio Canova - ICREA UPF
• Domenico Giannone & Lucrezia Reichlin - LBS et Michele Lenza - BCE, “Market Freedom and the Global Recession” Discussant: Galina Hale - San Francisco Fed

Coffee break: 16:00-16:20

4^th session: 16:20-17:50, Credit Constraints and Currency Collapses, Chair: Daniel Cohen - PSE

• Matthieu Bussière - BdF, Sweta Saxena - FMI et Camilo Tovar - BIS, “Chronicle of Currency Collapses: Re-examining the Effects on Output” Discussant: Sergio Schmukler - Banque Mondiale
• Philippe Aghion - Harvard & PSE, David Hemous - Harvard et Enisse Kharroubi - BdF, “Credit Constraints, Cyclical Fiscal Policy and Industry Growth” Discussant: Florin Bilbiie - HEC / PSE

2ND DAY, Friday, 29 January 2010

Welcome and registration starts at 8:30, Palais Brongniart

5^th session: 9:00-10:30, Trade Collapse, Chair: Pierre-Olivier Gourinchas - Berkeley

• Andrei Levchenko, Logan Lewis & Linda Tesar - University of Michigan, “The Collapse of International Trade During the 2008-2009 Crisis: In Search of the Smoking Gun” Discussant: Lionel Fontagné - PSE
• Georges Alessandria - Philly Fed, Joe Kaboski - Ohio St. Univ., et Virgiliu Midrigan - NYU, “The Great Trade Collapse of 2008-09: An Inventory Adjustment?” Discussant: Thierry Mayer - Sciences Po.

Coffee break: 10:30-10:50

6^th session: 10:50-12:20, Propagation Through Trade and Finance, Chair: Roger Guesnerie - PSE

• Kei-Mu Yi - Philly Fed, Rudolph Bems - FMI et Robert C. Johnson - Dartmouth, “The Role of Vertical Linkages in the Propagation of the Global Downturn of 2008” Discussant: Julian di Giovanni - FMI
• Gian Maria Milesi-Ferreti - FMI et Philip Lane - Trinity College Dublin, “The Cross-Country Incidence of the Global Crisis” Discussant: Giancarlo Corsetti - EUI

Lunch break 12:30-14:00. Hollywood Savoy

7^th session: POLICY PANEL 14:00-16:00, Chair : Jean-Pierre Landau
“Global Imbalances, the Financial Crisis and Exit Strategies”

• Olivier Blanchard, François Bourguignon, Daniel Cohen, Jean-Luc Schneider, Beatrice Weder di Mauro.