Navigation Path: Home > Events > Conferences & seminars > Conference on Financial globalisation and integration
Venue:
European Central Bank (Eurotower)
Conference room CIV, 2nd floor
Kaiserstrasse 29
D-60311 Frankfurt am Main
| 8.30 – 9.00 | Registration and coffee |
| 9.00 | Start of conference Jürgen Stark (Member of the Executive Board, European Central Bank): Introduction: Financial globalisation: economic policies in a new era en Session 1: Global imbalances, trade and capital flows Chair: Pierre van der Haegen (European Central Bank) |
| 9.30 - 10.20 | Joseph W. Gruber and Steven B. Kamin (Board of Governors of the Federal Reserve System):
Explaining the global pattern of current account imbalances pdf 285 kB, en Discussant: Eswar Prasad (International Monetary Fund) |
| 10.20 – 11.10 | Menzie Chinn (University of Wisconsin) and Hiro Ito (Portland State University):
Current account balances, financial development and institutions: assaying the world “savings glut” pdf 280 kB, en Discussant: Cedric Tille (Federal Reserve Bank of New York) |
| 11.10 – 11.30 | Coffee Break |
| 11.30 – 12.20 | Rudolfs Bems, Luca Dedola and Frank Smets (European Central Bank):
US imbalances: the role of technology and policy pdf 404 kB, en Discussant: Mark Taylor (Barclays Global Investors) |
| 12.20 – 13.00 | Keynote address, chaired by Jean-Claude Trichet (President, European Central Bank) Robert Rubin (Citigroup; former Secretary of the US Treasury): An uncertain and complex global economy: outlook, opportunities and challenges |
| 13.00 – 14.30 | Luch |
| 14.30 – 15.20 | Michael B. Devereux (University of British Columbia) and Hans Genberg (Hong Kong Monetary Authority):
Currency appreciation and current account adjustment pdf 147 kB, en Discussant: Michael Melvin (Barclays Global Investors) Session 2: Home bias and risk-sharing through the global financial system Chair: Wolfgang Schill (European Central Bank) |
| 15.20 – 16.10 | Lieven Baele, Crina Pungulescu and Jenke Ter Horst (Tilburg University):
Model uncertainty, financial markets integration and the home bias puzzle pdf 576 kB, en Discussant: Roberto de Santis (European Central Bank) |
| 16.10 – 17.00 | Bong-Chan Kho (Seoul National University), René M. Stulz (Ohio State University) and Frank Warnock (University of Virginia):
Financial globalization, governance, and the evolution of the home bias pdf 261 kB, en Discussant: Menzie Chinn (University of Wisconsin) |
| 17.00 – 17.15 | Coffee Break |
| 17.15 – 19.00 | Policy panel: the policy challenges from financial globalisation Speakers: Jean-Claude Trichet (President, European Central Bank), Fred Bergsten (Director, Institute for International Economics), Stanley Fischer (Governor, Bank of Israel; former IMF First Deputy Managing Director), Robert Rubin (Citigroup; former Secretary of the US Treasury) Discussant: Menzie Chinn (University of Wisconsin) |
| 19.30 | Dinner at the Hotel Intercontinental Address by Jean-Claude Trichet |
| Session 2: Home bias and risk-sharing through the global financial system (cont.) Chair: Wolfgang Schill (European Central Bank) |
|
| 9.00 – 9.50 | Bent Sørensen (University of Houston), Yi-Tsung Wu (Binghampton University), Oved Yosha (Tel Aviv University) and Yu Zhu (Binghampton University):
Home bias and international risk sharing: twin puzzles separated at birth pdf 242 kB, en Discussant: Carmen Reinhart (University of Maryland) |
| 9.50 – 10.40 | Michael Fidora, Marcel Fratzscher and Christian Thimann (European Central Bank):
Home bias in global equity and bond markets: the role of real exchange rate volatility pdf 439 kB, en Discussant: Jean Imbs (HEC Lausanne) |
| 10.40 – 11.00 | Coffee Break |
| Session 3: International financial integration Chair: Lucrezia Reichlin (European Central Bank) |
|
| 11.00 – 11.50 | André Faria, Paolo Mauro, Martín Minnoni and Aleksandar Zaklan (International Monetary Fund):
The external financing of emerging countries: evidence from two waves of financial globalization pdf 502 kB, en Discussant: Marcus Miller (University of Warwick) |
| 11.50 – 12.40 | Martin Evans and Viktoria Hnatkovska (Georgetown University):
International capital flows, returns and world financial integration pdf 534 kB, en Discussant: Robert Kollmann (University of Paris XII) |
| 12.40 – 14.00 | Lunch |
| 14.00 – 14.50 | Miguel Ferreira (ISCTE Business School, Lisbon) and Pedro Matos (University of Southern California):
The colors of investors’ money: which firms attract institutional investors from around the world? pdf 589 kB, en Discussant: Elias Papaioannou (European Central Bank) |
| 14.50 – 15.10 | Coffee Break |
| 15.10 – 16.20 | Financial globalisation and integration: what’s next? A forward-looking perspective from an academic and a policy perspective Carmen Reinhart (University of Maryland), Lorenzo Bini Smaghi (Member of the Executive Board, European Central Bank) en |
| 16.20 | End of conference |
Contacts:
Marcel Fratzscher: marcel.fratzscher@ecb.int
Christian Thimann: christian.thimann@ecb.int
Philipp Hartmann: philipp.hartmann@ecb.int
