Conference Agenda conference@imf.org IMF Seminars, Conferences and Workshops
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March 19–20, 2001 By invitation only In recent years developing and transition countries have tended to move away from adjustable-peg regimes to more flexible regimes or toward hard pegs. The literature has identified this phenomenon as a "hollowing of the middle" in the spectrum of exchange rate regimes. This seminar addresses the choice of exchange rate regime by developing and transition countries. Country experiences are used to answer a number of crucial questions: What have we learned so far? Are intermediate exchange rate regimes in fact no longer a viable or desirable option? Why do countries opt to move away from the middle? What has been the experience so far in the transition to each of the extremes? What are the specific challenges and obstacles that a country faces when moving away from the middle? The conference program appears below. |
| Agenda | |
| Monday, March 19 | |
| 9:00 a.m.–9:15 a.m. | Opening Session Presentation by Mr. Horst Köhler, Managing Director, IMF |
| 9:15 a.m.–11:00 a.m. | Session I. Round Table: Hard Peg or Free Floating? |
| Panelists:
Stanley Fischer, First
Deputy Managing Director,
IMF; Carmen Reinhart,
U. of Maryland; Jeffrey Frankel, Harvard U.; Robert Flood, Editor, IMF Staff Papers |
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| Chair: Mohsin S. Khan, Director, IMF Institute | |
| 11:30 a.m.–1:00 p.m. | Session II. From Fixed to Floating: The Latin-American Experience |
| Chile Speaker: Felipe Morandé, Chief Economist, Central Bank of Chile Exchange Rate Policy in Chile: Recent Experience
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| Mexico Speaker: Alejandro Werner, Director, Economic Studies, Bank of Mexico Mexico's Experience with a Floating Exchange Rate
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| Discussion Chair: Enzo Croce, Division Chief, IMF Institute |
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| 2:30 p.m.–4:00 p.m. | Session III. From Fixed to Floating: Other Country Experiences |
| Israel Speaker: Leonardo Leiderman, Managing Director, Emerging Markets Research, Deutsche Bank, New York; and Gil Bufman, Professor, Tel Aviv University Surprises on Israel's Road to Exchange Rate Flexibility
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| Poland Speaker: Ryszard Kokoszczynski, Deputy President, National Bank of Poland From Fixed to Floating: Other Country Experiences: The Case of Poland |
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| Discussion Chair: Eric V. Clifton, Division Chief, IMF Institute |
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| 4:30 p.m.–5:30 p.m. | Session IV. From Intermediate to Floating: The Asian Experience |
| The Asian Countries Before and After the Crisis | |
| Speaker:
Peter Montiel, Williams
College; and Leonardo
Hernández, Senior
Economist, IMF Institute
Post-Crisis Exchange Rate Policy in Five Asian Countries: Filling in the "Hollow Middle"? |
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| Discussion Chair: Reza Vaez-Zadeh, Division Chief, IMF Institute |
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| Tuesday, March 20 | |
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| 9:00 a.m.–11:00 a.m. | Session V. From Fixed to Fixed: The Case of Hard Pegs |
| Argentina Speaker: Guillermo Escudé, Head, Research Department, Central Bank of Argentina |
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| Hong
Kong SAR Speaker: Priscilla Chiu, Head, Economic Research Division, Hong Kong Monetary Authority Hong Kong's Experience in Operating the Currency Board System |
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| Estonia Speaker: Peter Lohmus, Former Deputy Governor, Bank of Estonia Exchange Rate Regimes: Hard Peg or Free Floating? -- the case of Estonia
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| Discussion Chair: Saleh M. Nsouli, Deputy Director, IMF Institute |
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| 11:30 a.m.–12:15 p.m. | Session VI. Wrap-up Session |
| Speaker:
Leonardo Leiderman (Deutsche
Bank, New York) Chair: Mohsin S. Khan (IMF) |
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