Departamento de Economía

9:15-9:30

Opening remarks 
Andy Neumeyer (Universidad Torcuato di Tella)
Gerardo Licandro (Banco Central del Uruguay)

9:30-10:30

“Beware the Side Effects: Capital Controls, Misallocation and Welfare”
Eugenia Andreasen (Universidad de Chile), Sofía Bauducco (Central Bank of Chile), Evangelina Dardati (Universidad Diego Portales) and Enrique Mendoza (University of Pennsylvania)
Discussant: Victoria Nuguer (Inter-American Development Bank) 

10:30-11:30

“The Micro Anatomy of Macro Consumption Adjustments” 
Guntin (University of Rochester), Pablo Ottonello (University of Michigan) and Diego J. Perez (New York University)
Discussant: Serafín Frache (Universidad de Montevideo)

11:45-12:45

“Terms-of-Trade Shocks are Not all Alike”
Luciana Juvenal (International Monetary Fund), Federico Di Pace (Bank of England) and Ivan Petrella (Warwick Business School)
Discussant: Elizabeth Bucacos (Banco Central del Uruguay)

14:30-15:30

“Central Bank Independence and Inflation in Latin America—Through the Lens of History”
Samuel Pienknagura (International Monetary Fund) and Luis I. Jacome (Georgetown University)
Discussant: Sara Calvo (Columbia University) 

16:00-17:30

Monetary Policy and External Shocks in Latin America: Global Inflation Pressure, Monetary Tightening and Liquidity
Chair: Diego Labat, Governor, Banco Central del Uruguay
Panel: Guillermo Calvo, Professor, Columbia University
Pablo García Silva, Vice Governor, Banco Central de Chile
Federico Sturzenegger, Professor, Universidad de San Andrés and Harvard Kennedy School

9:30-10:30

“Making Sovereign Debt Safe with a Financial Stability”
Ramon Marimon (Universitat Pompeu Fabra), Yan Liu (Purdue University) and Adrien Wicht (European University Institute)
Discussant: Emilio Espino (Univeresidad Torcuato di Tella)

10:30-11:30

“Information Spillovers and Sovereign Debt: Theory Meets the Eurozone Crisis”
Harold L. Cole (University of Pennsylvania), Daniel Neuhann (University of Texas at Austin) and Guillermo Ordoñez (University of Pennsylvania)
Discussant: Hugo Hopenhayn (University of California, Los Angeles) 

11:45-12:45

“Default and Interest Rate Shocks: Renegotiation Matters”
Timothy J. Kehoe (University of Minnesota and Federal Reserve Bank of Minneapolis), Victor Almeida (Carleton College), Carlos Esquivel (Rutgers University) and Juan Pablo Nicolini (Universidad Torcuato Di Tella & Federal Reserve Bank of Minneapolis)
Discussant: Francisco Roch (Universidad Torcuato di Tella)

14:30-15:30

“World Financial Cycles”
Patrick Kehoe (Stanford University), Yan Bai (University of Rochester), Pierlauro Lopez (Federal Reserve Bank of Cleveland) and Fabricio Perri (Federal Reserve Bank of Minneapolis)
Discussant: Constantino Hevia (Universidad Torcuato di Tella)

16:00-17:30

Latin America’s Fiscal Challenges
Chair: Gerardo Licandro (Banco Central del Uruguay)
“Dealing with Debt”, Andrew Powell (Inter-American Development Bank)
“Will we adjust better this time?”, Guillermo Vuletín (The World Bank)
“Lessons from (Monetary and Fiscal) History”, Juan Pablo Nicolini (Federal Reserve Bank of Minneapolis and Universidad Torcuato di Tella)