Tsinghua Workshop in International Finance and Monetary Policy
May 25 - 26, 2017, Tsinghua University, Beijing, China
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Monetary Policy in a Global Setting: China and the United States

March 26-28, 2012
SEM, Tsinghua University



Monday, March 26   

Moderator: Yi Wen (Federal Reserve Bank & Tsinghua University)

8:50-9:00:        Opening Remarks: Yingyi Qian (Dean of SEM, Tsinghua University)

9:00-9:50         Robert E. Hall (Stanford University):

                           "Clashing Theories: Why Is Unemployment So High When Interest Rates Fall to Zero? "

9:50-10:10       Discussant: R. Anton Braun (Atlanta Fed)

10:10-10:20     Q&A


10:20-10:30     Coffee Break


10:30-11:20     Larry Kotlikoff (Boston University):

                           "Limiting Global Financial Instability with Limited Purpose Banking"

11:20-11:40     Discussant: Todd Keister (New York Fed)

11:40-11:50     Q&A


11:50-13:30     Lunch


13:30-14:20     Costas Azariadis (Washington University in St. louis):

                           "Credit Crunches as Markov Equilibria"

14:20-14:40     Discussant: Pengfei Wang (Hong Kong University of Science & Technology)

14:40-14:50     Q&A


14:50-15:40     Chris Waller (St. Louis Fed):

                           "Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic "

15:40-16:00     Discussant: Jonathan Chiu (Bank of Canada)

16:00-16:10     Q&A


16:10-16:20     Coffee Break


16:20-17:10     Kim Ruhl (New York University):

                           "Antidumping in the Aggregate"

17:10-17:30     Discussant: Hong Ma (Tsinghua University)

17:30-17:40     Q&A


18:00-20:00     Dinner in Houhai Lake



Tuesday, March 27

Moderator: Moderator: Bill Gavin (Federal Reserve Bank of St. Louis)

9:00-9:50         Paolo Pesenti (New York Fed):

                           "Varieties and the transfer problem"

9:50-10:10       Discussant: Jiandong Ju (Tsinghua University)

10:10-10:20     Q&A


10:20-10:30     Coffee Break


10:30-11:20     Dong He (Hong Kong Monetary Authority):

                           "How would capital account liberalization affect China's international investment positions?"

11:20-11:40     Discussant: Bill Gavin (St. Louis Fed)

11:40-11:50     Q&A


11:50-13:30     Lunch


13:30-14:20     Yi Wen (Federal Reserve Bank of St. Louis & Tsinghua University):

                           "China’s Trade Imbalance Puzzle"

14:20-14:40     Discussant: Pablo Fajgelbaum (UCLA)

14:40-14:50     Q&A


14:50-15:40     Chong-En Bai (Tsinghua University)

15:40-16:00     Discussant: Dan Thornton (St. Louis Fed)

16:00-16:10     Q&A


16:10-16:20     Coffee Break


16:20-17:10     Jiandong Ju (Tsinghua University):

                           "Trade liberalizations and current account imbalances"

17:10-17:30     Discussant: Jian Wang (Dallas Fed)

17:30-17:40     Q&A


17:40-              Decentralized Activities



Tuesday, March 28

Moderator: Dong He (Hong Kong Monetary Authority)

9:00-9:50         James Bullard (President and CEO of St. Louis Fed):

9:30-9:40        Q&A


9:40-10:10      Gang Yi (Vice Governor of People’s Bank of China)

10:10-10:20    Q&A


10:20-10:30     Coffee Break


10:30-11:00     Andrew Filardo (Bank for International Settlements):

                           "Beyond policy rates: global monetary policy and central bank balance sheets"

11:00-11:10     Q&A


11:10-11:40     Bo Li ( Director general of the second department of monetary policy, People’s Bank of China):

11:40-11:50     Q&A


11:50-13:30     Lunch & Round Table Discussions


13:30-14:00     Mark Spiegel (Vice President, Federal Reserve Bank of San Francisco):

14:00-14:10     Q&A


14:10-14:40     Jianhua Zhang (Research Director, People’s Bank of China):

14:40-14:50     Q&A


14:50-15:20     John Weinberg (Research Director, Federal Reserve Bank of Richmond):

15:20-15:30     Q&A


15:30-15:40     Coffee Break


15:40-16:10     Yongding Yu (Chinese Academy of Social & Political Sciences):

16:10-16:20     Q&A


16:20-16:50     Eric Santor (Bank of England):

                           "Unconventional Monetary Policy"

16:50-17:00     Q&A


17:30-19:30     Dinner at Tsinghua