XXIV Annual Conference of the Central Bank of Chile

Emerging Markets Credibility, Foreign Investors Risk Perceptions and Capital Flows

November 22nd and 23rd, 2021

Virtual Conference, Santiago – Chile  (Times are in GMT-3)

Program arranged by: Álvaro Aguirre, Andrés Fernández and Sebnem Kalemli-Özcan

Language: All sessions will be conducted in English. Simultaneous translation from English to Spanish will be provided.

Álvaro Aguirre
Central Bank of Chile
Tel: +(56 2) 2670 2558

María José Reyes
Central Bank of Chile
Tel: +(56 2) 2670 2413

Francisco Rey
Central Bank of Chile
Tel: +(56 2) 2670 2508

For further information, please contact the organizing committee at: conferencia2021@bcentral.cl

Monday 22nd November

Openings remarks

Mario Marcel – Governor, Central Bank of Chile

International Risk Spillovers: Implications for Emerging Markets’ Monetary Policy Frameworks

Sebnem Kalemli-Özcan – University of Maryland

Discussant: Helene Rey – London Business School

The Natural Level of Capital Flows

Frank Warnock – University of Virginia

Discussant: Laura Alfaro – Harvard Business School

Keynote Speech I

Maurice Obstfeld – Class of 1958 Professor of Economics, University of California, Berkeley

Does the Commodities Super Cycle Matter?

Andrés Fernández – Central Bank of Chile
Stephanie Schmitt-Grohe – Columbia University
Martín Uribe – Columbia University

Discussant: Roberto Chang – Rutgers University

Emerging Market, Exchange Rates and Capital Flows

Pierre-Olivier Gourinchas – University of California, Berkeley

Discussant: Gianluca Benigno – Federal Reserve Bank of New York

Optimal Monetary and Exchange Rate Policies with Imperfect Financial Markets

Oleg Itskhoki – University of California, Los Angeles Dmitry Mukhin – London School of Economics

Discussant: Charles Engel – University of Wisconsin

Tuesday 23rd November

Sovereign Risk and Floating Rate Bonds

Mark Aguiar – Princeton University
Manuel Amador – University of Minnesota
Ricardo Alves Monteiro – University of Minnesota

Discussant: Fabrizio Perri – Federal Reserve Bank of Minneapolis

The Globalization of Corporate Control

Elias Papaioannou – London Business School
Luís Fonseca – European Central Bank
Gur Aminadav – London Business School

Discussant: Carolina Villegas-Sanchez – ESADE Business Schoo

The COVID-19 Shock and Firm Financing: Government or Market or Both?

Miguel Acosta – Central Bank of Chile
Andrés Fernández – Central Bank of Chile
Patricia Gómez-Gonzalez – Fordham
Sebnem Kalemli-Özcan – University of Maryland

Discussant: Benoit Mojon – BIS

Global drivers and macroeconomic volatility in EMEs: A dynamic-factor, general equilibrium perspective

Gent Bajraj – Central Bank of Chile
Andrés Fernández – Central Bank of Chile
Miguel Fuentes – Central Bank of Chile
Benjamín García – Central Bank of Chile
Jorge Lorca – Central Bank of Chile
Manuel Paillacar – Central Bank of Chile
Juan M. Wlasiuk – Central Bank of Chile

Discussant: Ambrogio Cesa-Bianchi – Bank of England

Integrated Monetary and Financial Policies for Small Open Economies

Suman Basu – IMF
Emine Boz – IMF
Gita Gopinath – IMF
Francisco Roch – IMF
Filiz Unsal – IMF

Discussant: Stephanie Schmitt-Grohe – Columbia University

Keynote Speech II

Carmen Reinhart – Senior Vice President and World Bank Group Chief Economist

Closing remarks

Sebnem Kalemli-Özcan – Neil Moskowitz Professor of Economics, University of Maryland