Macro-Financial Linkages—IMF Ninth Jacques Polak Annual Research Conference

November 13-14, 2008

November 13–14, 2008
HQ1-R-710, IMF Headquarters
Washington, D.C.

Disclaimer
The website contains papers and web links to papers that will be considered at the Ninth Jacques Polak Annual Research Conference (ARC). The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.

The International Monetary Fund will hold the Ninth Jacques Polak Annual Research Conference (ARC) at its headquarters in Washington, DC, on November 13-14, 2008. The conference is intended to provide a forum for discussing innovative research undertaken both by IMF staff and outside economists, and to facilitate an exchange of views among researchers and policymakers. The conference will feature research papers by prominent outside researchers as well as IMF economists, and Professor Jean Tirole will deliver the Mundell-Fleming Lecture. An Economic Forum will conclude the conference.

The conference is open to the public; registration is required. To register for the conference (registration will include all conference sessions, the Mundell-Fleming Lecture and the Economic Forum) please send an e-mail to ARC2008@imf.org. The deadline for public registration is Friday, November 7, 2008. Registered attendees will be required to present photo identification on entering the IMF at the Visitor Center entrance at 720 19th Street, N.W., Washington DC (at the white tent). Only IMF/World Bank staff should enter through the main 700 19th Street entrance.

Please note that, for this event, invitations for visa purposes will be extended only to the conference speakers.

PROGRAM

Day 1: Thursday, November 13, 2008 (HQ1-R-710)
8:45—9:15 a.m. Welcome
Olivier Blanchard (Economic Counsellor and Director,
Research Department, IMF)
9:15–10:45 a.m. Session I—Asset Prices and the Business Cycle
  Chair: Jonathan D. Ostry (Deputy Director, Research Department, IMF) Discussant: Olivier Jeanne (Johns Hopkins University)
See presentation Discussant: Steven Kamin (Federal Reserve Board)
See presentation
10:45–11:00 a.m. Coffee Break
11:00–1:00 p.m. Session II—Monetary Policy
  Chair: Atish Rex Ghosh (Division Chief, Research Department, IMF) Discussant: Fabian Valencia (IMF)
See presentation Discussant: James Vickery (Federal Reserve Bank of New York)
See presentation Discussant: Marcos Chamon (IMF)
See presentation
1:00–2:30 p.m. Lunch — IMF Gallery
(2nd Floor - by invitation only)
3:00–4:30 p.m. Session III—Mundell-Fleming Lecture
Watch the webcast
  Chair: Olivier Blanchard (Economic Counsellor and Director,
Research Department, IMF)
Jean Tirole (IDEI and MIT)
See presentation
7:00 p.m. Dinner (By invitation only)
Day 2: Friday, November 14, 2008 (HQ1-R-710)
9:00–10:30 a.m. Session IV—International
  Chair: Miguel Savastano (Assistant Director, Finance Department, IMF) Discussant: Romain Ranciere (IMF)
See presentation Discussant: Julian Di Giovanni (IMF)
See presentation
10:30–10:45 a.m. Coffee Break
10:45–12:45 p.m. Session V—Housing and the credit crunch
  Chair: Charles Collyns (Deputy Director, Research Department, IMF) Discussant: Luc Laeven (IMF)
See presentation Discussant: Enrica Detragiache (IMF)
See presentation Discussant: Amir Sufi (University of Chicago, GSB)
See presentation
12:45–2:00 p.m. Lunch — IMF Gallery
(2nd Floor - by invitation only)
2:15–3:45 p.m. Session VI—Banking and Liquidity
  Chair: Stijn Claessens (Assistant Director, Research Department, IMF) Discussant: Robert Hauswald (American University)
See presentation Discussant: Pete Kyle (Robert H. Smith School of Business, University of Maryland)
See presentation
3:45–4:00 p.m. Coffee Break
4:00–5:30 p.m. The Policy Response to Asset and Housing Price Booms and Busts
  Policy Moderator: Olivier Blanchard (Economic Counsellor and Director, Research Department, IMF)

Panelists:

Tim Besley (Bank of England and LSE)
Charles Calomiris (Columbia University)
Aaron Tornell (UCLA)

Organizing Committee: Giovanni Dell’Ariccia, Chris Crowe, Luc Laeven, and Thierry Tressel (All IMF), Olivier Jeanne (Johns Hopkins University, formerly IMF).