Sponsored by WAGE and Robert M. La Follette School of Public Affairs

Co-sponsored by Dept. of Economics, EUCE, CIBER

CURRENT ACCOUNT SUSTAINABILITY IN MAJOR ADVANCED ECONOMIES (II)

Menzie Chinn and Charles Engel, Organizers

May 2-3, 2008

Conference Room

University of Wisconsin Pyle Center

Madison, Wisconsin

PRELIMINARY PROGRAM

FRIDAY, MAY 2:

8:30 AM
Continental Breakfast

9:00 AM
Welcome

9:10 AM

CAROL BERTAUT, Federal Reserve Board
STEVE KAMIN, Federal Reserve Board

CHARLES THOMAS, Federal Reserve Board

How Long Can the Unsustainable U.S. Deficit be Sustained?

Discussant: JEFFREY FRANKEL, Harvard University

10:10 AM
Break

10:25 AM

MARCEL FRATZSCHER, European Central Bank,

ROLAND STRAUB, European Central Bank

Asset Prices and Current Account Fluctuations in G7 Economies

Discussant: KENNETH D. WEST, University of Wisconsin

11:25 AM

STEPHANIE CURCURU, Federal Reserve Board
FRANK WARNOCK, University of Virginia

CHARLES THOMAS, Federal Reserve Board

Current Account Sustainability and the Relative Reliability of the International Accounts

Discussant: JOHN KITCHEN, Executive Office of the President

12:30 PM

Lunch

2:00 PM

DENIZ CIVRIL, Brandeis University

CATHERINE MANN, Brandeis University

U.S. International Trade in Other Private Services: Do Arm's Length and Intra-Company Trade Differ?

Discussant: MENZIE CHINN, University of Wisconsin

3:00 PM
GIANCARLO CORSETTI, European University Institute and University of Rome III

ANDRE MEIER, European University Institute

GERNOT MULLER, Goethe University Frankfurt

When, Where and How does Government Spending Matter in Open Economies? An Empirical Investigation

Discussant: LUKASZ DROZD, University of Wisconsin

4:00 PM
Break

4:30 PM
JIANDONG JU, University of Oklahoma and IMF

SHANG-JIN WEI, Columbia University

Domestic labor market rigidity and current account adjustment

Discussant: AKITO MATSUMOTO, International Monetary Fund

5:30 PM
Adjourn

7:00 PM

Dinner (note change of time)

SATURDAY, MAY 3:

8:30 AM
Continental Breakfast

9:00 AM

HAMID FARUQEE, IMF

JAEWOO LEE, IMF

Global Dispersion of Current Account: Is the Universe Expanding?

Discussant: HIRO ITO, Portland State University

10:00 AM
Break

10:15 AM
SUPARNA CHAKRABORTY, Baruch College, CUNY

ROBERT DEKLE, University of Southern California

Productivity Shocks, Global Financial Integration, and the U.S. Current Account

Discussant: NELSON MARK, University of Notre Dame

11:15 AM

Break

11:30 AM

CHARLES ENGEL, University of Wisconsin

JOHN ROGERS, Federal Reserve Board

Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Markets

Discussant: ANDREA FERRERO, Federal Reserve Bank of New York

12:30 PM

Lunch and adjourn

Conference Proceedings

Link to 2006 conference

Link to Current Account Sustainability website

6/4/2008