MANAGING POLICY SPILLOVERS IN DEVELOPED COUNTRIES, CAPITAL FLOWS AND POLICY CHALLENGES IN EMERGING ECONOMIES

Lima, November 21-22, 2013

PROGRAM
Thursday 21 November 09:00 - 09:15 Welcome Remarks Julio Velarde (President, Central Reserve Bank of Peru) Hans Ruedi Bortis (Ambassador of Switzerland) Cdric Tille (The Graduate Institute, Head of BCC program) Policy Coordination Invited speaker: Jonathan Ostry (IMF) Discussion Coffee Break Policy Uncertainty Spillovers to Emerging Markets Evidence from Capital Flows Presented by Ludovic Gauvin (EconomiX-CNRS and Banque de France) Virtuous and Vicious Cycles in Global Bond Markets Presented by John D. Burger (Loyola University Maryland) Discussant: Ramn Moreno (BIS) Lunch

09:15 - 10:00

10:00 - 10:20 10:20 - 10:50 10:50 - 12:30

12:30 - 14:30

14:30 - 15:15 Capital ow policies, monetary policy and coordination Invited Speaker: Marcel Fratzscher (German Institute for Economic Research) 15:15 - 15:35 15:35 - 16:00 16:00 - 18:30 Discussion Coffee break Surges Presented by Mahvash S. Qureshi (IMF) Fire-Sale FDI or Business as Usual? Presented by Ron Alquist (Bank of Canada) Discussant: Csar Caldern (The World Bank) Dinner Hosted by Central Reserve Bank of Peru

20:30

Friday 22 November 09:00 - 09:45 Macroprudential Regulation Invited speaker: Gianluca Benigno (LSE) 09:45 - 10:00 Discussion 10:00 - 10:15 Coffee Break 10:15 - 11:45 International Reserves and Gross Capital Flows. Dynamics during Financial Stress Presented by Jos Mara Serena (Banco de Espaa) An assessment of the effectiveness and impact of capital controls over welfare in Colombia Presented by Franz Hamann (Banco de la Repblica de Colombia) Discussant: Cdric Tille (The Graduate Institute) 11:45-12:30 Capital Flows and Emerging Markets: Policy Challenges in the Era of Unconventional Monetary Policies Invited speaker: Joshua Aizenman (University of Southern California)

12:30-12:45 Discussion 12:45 - 14:30 Lunch 14:30 - 15:15 Managing policy spillovers from developed economies Invited speaker: Liliana Rojas-Surez (Center for Global Development) 15:15 - 15:35 Coffee break 15:35 - 17:15 Panel: Central banks experiences Chair: Renzo Rossini (General Manager, Central Reserve Bank of Peru) Julio Velarde (President, Central Reserve Bank of Peru) Rodrigo Vergara (President, Central Bank of Chile) Juan Pablo Zrate (Co-Director, Banco de la Repblica de Colombia)