Tsinghua Workshop in International Finance 2018

June 19-20, 2018
Tsinghua University

Venue: Room 501, Weilun Bldg., SEM

Tuesday, June 19   

8:30-8:50           Registration
8:50-9:00           Opening Remarks: Chong-En Bai (Mansfield Freeman Professor and Executive Associate Dean, School of Economics and Management, Tsinghua University)

Morning Session: (Presenters: 45 minutes)

Chair: Yan Bai (Rochester University)

9:00-9:45       Beatrice Scheubel (European Central Bank and CESifo), Livio Stracca (European Central Bank),

                        Cédric Tille (Geneva Graduate Institute of International and Development Studies and CEPR):

                           "Taming the Global Financial Cycle: What role for the Global Financial Safety Net?"

9:45-10:30      Alessandro Barattieri (Collegio Carlo Alberto and ESG UQAM),

                        Matteo Cacciatore (HEC Montreals), Fabio Ghironi (Boston College):

                           "Protectionism and the Business Cycle"

10:30-11:15     Yi Huang (The Graduate Institute Geneva), Ugo Panizza (The Graduate Institute Geneva and CEPR),

                         Richard Portes (London Business School, CEPR and NBER):

                           "Corporate Foreign Bond Issuance and Interfirm Loans in China"

11:15-11:30     Coffee Break

11:30-12:30     Helene Rey (London Business School, CEPR and NBER):

                           "Financial Cycles and Heterogeneous Intermediaries"

12:30-13:30     Lunch    

Afternoon Session: (Presenters: 45 minutes)

Chair: Juanyi Xu (HKUST)

13:30-14:15     Johnny Cotoc (McMaster University), Alok Johri (McMaster University),

                         Cesar Sosa-Padilla (Notre Dame):

                           "Debt, Defaults and Dogma: the impact of politics on the dynamics of sovereign debt markets"

14:15-15:00     Charles Engel (University of Wisconsin), JungJae Park (National University of Singapore):

                           " Debauchery and Original Sin: The Currency Composition of Sovereign Debt"

15:00-15:30     Coffee Break

Chair: Vivian Yue (Emory)

15:30-16:15      Woo Jin Chai (Korea Development Institute), Alan Taylor (University of California, Davis):

                           "Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate"

16:15-16:30     Coffee Break

16:30-17:30     Martin Uribe (Columbia University):

                           Keynote Speech: "Underborrowing"

18:00-20:00     Conference Dinner

Wednesday, June 20   

Morning Session (Presenters: 45 minutes)

Chair: Qing Liu (Tsinghua University)

9:00-9:45      Giancarlo Corsetti (Cambridge, Cambridge-INET and CEPR), Meredith Crowley (Cambridge and CEPR),

                         Lu Han (Cambridge), Huasheng Song (Zhejiang University):

                           "Markets and Markups: A New Empirical Framework and Evidence on Exporters from China"

9:45-10:00     Coffee Break

Policy Panel:

Moderator: Chong-En Bai (Mansfield Freeman Professor and Executive Associate Dean, School of Economics and Management, Tsinghua University)

10:00-12:00    Policy Panel

                         Helene Rey (London Business School, CEPR and NBER)

                         Stephanie Schmitt-Grohé (Columbia University)

                         Martin Uribe (Columbia University)

                         Tianqi Sun (the State Administration of Foreign Exchange)

12:00-13:00     Lunch    

Afternoon Session: (Presenters: 45 minutes)

Chair: Keyu Jin (LSE)

13:00-13:45     Stephanie Schmitt-Grohé (Columbia):

                           "The Neo Fisher Effect"

13:45-14:30     David Cook (HKUST), Haichao Fan (SHUFE), Juanyi Xu (HKUST):

                           "Labor Mobility and Exchange Rate Regime in Open Economies"

14:30-15:00     Coffee Break

Chair: Kang Shi (CUHK)

15:00-15:45     Jian Wang (CUHK-Shenzhen), Jason Wu (Federal Reserve Board):

                           "Monetary policy, fund flows and capital restrictions"

15:45-16:30     Jingting Fan (Penn State University), Wenlan Luo (Tsinghua University):

                           "Financing Multinationals"