International Macro/Finance and Sovereign Debt Workshop is a virtual workshop for a group of scholars to discuss cutting-edge research on the topics of international macro/finance and sovereign debt.
The second workshop, hosted by Sogang University, Korea, and supported by University of Surrey, U.K., will be on October 28-29 (Asian time), 2021.
The second workshop, hosted by Sogang University, Korea, and supported by University of Surrey, U.K., will be on October 28-29 (Asian time), 2021.
If you would like to attend, please register here.
Schedule
First Day
(October 28th China/Korea/Japan/Singapore time/ October 27th US time)
Session 1
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Sovereign Debt Crises
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Chair Tamon Asonuma (International Monetary Fund)
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1st Paper
7:00am -8:00am China/Singapore 8:00am -9:00am Korea/Japan 7:00pm -8:00pm US EST 6:00pm -7:00pm US CST 4:00pm -5:00pm US PST |
Presenter
Ignacio Presno (Federal Reserve Board) Coauthors: Javier Bianchi and Pablo Ottonello "Fiscal Stimulus under Sovereign Risk" Discussant Diego Anzoategui (Rutgers University) |
2nd Paper
8:00am -9:00am China/Singapore 9:00am -10:00am Korea/Japan 8:00pm -9:00pm US EST 7:00pm -8:00pm US CST 5:00pm -6:00pm US PST |
Presenter
Joao Ayres (IADB) Coauthors: Gaston Navarro, Juan Pablo Nicolini, and Pedro Teles "Self-Fulfilling Debt Crises with Long Stagnations" Discussant Georgios Stefanidis (York University) |
Session 2
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Exchange Rate and External Balance
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Chair Yun Jung Kim (Sogang University)
1st Paper
9:20am -10:20am China/Singapore 10:20am -11:20pm Korea/Japan 9:20pm -10:20pm US EST 8:20pm -9:20pm US CST 6:20pm -7:20pm US PST |
Presenter
Luciana Juvenal (IMF) Coauthor: Galina Hale "Currency-Induced External Balance Sheet Effects at the Onset of the COVID-19 Crisis" Discussant David Kohn (Universidad Catolica de Chile) |
2nd paper
10:20am -11:20pm China/Singapore 11:20am -12:20pm Korea/Japan 10:20pm -11:20pm US EST 9:20pm -10:20pm US CST 7:20pm -8:20pm US PST |
Presenter
Wataru Miyamoto (Hong Kong University) Coauthors: Thuy Lan Nguyen and Hyunseung Oh "In Search of Dominant Drivers of the Real Exchange Rate" Discussant Seunghoon Na (Purdue University) |
Second Day
(October 29th China/Korea/Japan/Singapore time/ October 28th US time)
Guest Lecture and Session 1
Chair Jing Zhang (Federal Reserve Bank of Chicago)
Guest Lecture
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6:45am -8:00am China/Singapore 7:45am -9:00am Korea/Japan 6:45pm -8:00pm US EST 5:45pm -7:00pm US CST 3:45pm -5:00pm US PST |
Presenter
Carlos Vegh (JHU SAIS) Coauthors: Diego Rojas and Guillermo Vuletin "The Macroeconomic Effects of Macroprudential Policy : Evidence from a Narrative Approach" |
Session 1
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Costs of Sovereign Defaults
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1st Paper
8:00am -9:00am China/Singapore 9:00am -10:00am Korea/Japan 8:00pm -9:00pm US EST 7:00pm -8:00pm US CST 5:00pm -6:00pm US PST |
Presenter
Akira Sasahara (Keio University) Coauthors: Tamon Asonuma and Marcos Chamon "Trade Costs of Sovereign Debt Restructurings: Does a Market-Friendly Approach Improve the Outcome?" Discussant Tiago Tavares (ITAM - Mexico) |
Session 2
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External Borrowing and Foreign Reserves
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Chair Hyungseok Joo (University of Surrey)
1st Paper
9:20am -10:20am China/Singapore 10:20am -11:20pm Korea/Japan 9:20pm -10:20pm US EST 8:20pm -9:20pm US CST 6:20pm -7:20pm US PST |
Presenter
Anton Korinek (Brookings and University of Virginia) Coauthors: Mathias Drehmann and Mikael Juselius "Going With the Flows : New Borrowing, Debt Service and the Transmission of Credit Booms" Discussant Fernando Arce (Federal Reserve Bank of Chicago) |
2nd Paper
10:20am -11:20pm China/Singapore 11:20am -12:20pm Korea/Japan 10:20pm -11:20pm US EST 9:20pm -10:20pm US CST 7:20pm -8:20pm US PST |
Presenter
Steve Wu (UCSD) Coauthor: Michael Devereux "Foreign Reserves and Local Currency Sovereign Debt" Discussant Hidehiko Matsumoto (GRIPS - Japan) |
Format
Time allocation – For guest lecture, 75 minutes will be allocated; (i) 60 minutes for lecture, (ii) 15 minutes for Q&A. For paper presentation, 60 minutes will be allocated to each paper: (i) 40 minutes for paper presentation, (ii) 10 minutes for discussants’ discussion, (iii) 10 minutes for Q&A (including responses to discussants). It is totally fine with us if you prefer streamlining presentation (less than 40 minutes) to allocate more time on Q&A.
Chat box – To facilitate smooth presentation, we will set up a chat box to allow all panel participants and audience to raise questions (rather than interrupting presenters’ presentation). Presenters can choose any of three options to handle questions (please indicate your preference to chairs before your presentation); (i) have co-authors take care of questions at Chat box, (ii) ask chairs to interrupt and read questions during presentation, (iii) answer questions at the Q&A session or small group meetings.
Co-authors’ participation – Given that presenters have 40 minutes for presentation, we would be grateful if presenters can kindly ask co-authors to participate the conference. We are more than welcome to have your co-authors to participate the workshop. If this is the case, please let us know. We will send an invitation from our side. If co-authors can handle questions raised at the Chat box, this would facilitate the presentation and discussion on the paper.
Small group meetings – During the coffee break and after the second sessions of the day, we will set up zoom meetings for two papers. Presenters, discussants and participants can discuss on the paper after the session. Presenters can also answer questions to discussants in small group meeting . The meetings are aimed to have more bilateral discussion and engagement.
Workshop participants – We can have two sets of participants:
- Panelists – Chairs, presenters, discussants and co-authors – who have an access to speak orally, to upload presentation slides on the screen and to raise questions at the chat box.
- Audience participants – who have an access to raise questions at the chat box.
Organizers
Tamon Asonuma (IMF)
Hyungseok Joo (University of Surrey)
Yun Jung Kim (Sogang University)
Hyungseok Joo (University of Surrey)
Yun Jung Kim (Sogang University)