X Conferencia Anual del Banco Central de Chile

Current Account and External Financing

Santiago, Chile, November 9 and 10, 2006

Session I: Opening Remarks (Session in Spanish)

Opening Remarks

Vittorio CorboGovernor, Central Bank of Chile

Session II:_ Keynote Address (Session in Spanish)

Sudden stops to Capital flows: Causes and Consequences

Guillermo CalvoChief Economist, Inter-American Development Bank

Session III: Current Account Dynamics

Financial Frictions and Business Cycles in Middle Income Countries

Jaime GuajardoIMF

The Role of Interest Rates and Productivity Shocks in Emerging Market Fluctuations

Mark AguiarUniversity of Rochester

Gita GopinathHarvard University

Session IV: Emerging Market Finance

The Nature of Emerging Market Finance

Graciela KaminskyGeorge Washington University

Ana FostelGeorge Washington University

Financial Diversification and Sudden Stops

K. CowanCentral Bank of Chile

José De GregorioCentral Bank of Chile

A. MiccoMinistry of Finance Chile

C. NielsonMinistry of Finance Chile

Session V: Issues on International Capital Flows

On Current Account Surpluses And The Correction Of Global Imbalances

Sebastian EdwardsUCLA

International Reserves Management and the Current Account

Joshua AizenmanUCSC

Session VIII: Valuation Effects and External Adjustment

Valuation Effects and External Adjustment

Pierre-Oliver GourinchasUniversity of California, Berkeley

Stocks, Flows and Valuation Effects of Foreign Assets and Liabilities: Do They Matter?

Alfredo PistelliCentral Bank of Chile

Jorge SelaiveCentral Bank of Chile

Rodrigo ValdésCentral Bank of Chile

Session IX: Country Experiences with Current Accounts

Current Account Deficits: The Australian Debate

R. BelkarReserve Bank of Australia

L. CockerellReserve Bank of Australia

Christopher KentReserve Bank of Australia

What drives the Current Account in Commodity Exporting Countries? The cases of Chile and New Zealand

Juan Pablo MedinaCentral Bank of Chile

A. MunroReserve Bank of New Zealand

C. SotoCentral Bank of Chile

Experiences with current account deficits in Southeast Asia

R. MorenoBIS