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CEDERS
Centre de Recherche sur les Dynamiques et Politiques Économiques
et l'Économie des Ressources

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Economic Policies and Globalisation

Economic Growth, Poverty and Inequality

Production Macroeconomics

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OPEN MACROECONOMICS & DEVELOPMENT 2nd Ed.

Lundi 2 Juillet, Monday, 2 July 2007

8h45 Welcome

9h00-9h45 Plenary Session - President : G. CETTE (Banque de France & CEDERS)

Ph. AGHION (Univ. of Harvard) "Exploiting States Mistakes to Identify the Causal Impact of Higher Education on Growth.pdf"

9h45-10h00 Coffee/Tea Break

10h00-12h00 Parallel Contributed Sessions

Session 1 : Exchanges Rates - President : M. NORMANDIN (CEDERS & CIRPEE)

C. CALDERON (World Bank) & M. KUBOTA (Univ. of York) "Are Real Exchange Rate Fluctuations More Volatile in More Open Economies.pdfD", Discussant: M.M. HABIB (ECB)

C. OSBAT (ECB) (with M. Wagner) "Sectoral Exchange Rate Pass-Through in the Euro Area.pdf", Discussant: L. MARQUES (Univ. of Rochester), Discussant: L. MARQUES (Univ. of Rochester)

M.M. HABIB (ECB) (with M.M. Kalamova) "Are there Oil Currencies - The Real Exchange Rate of Oil Exporting Countries.pdf", Discussant : C. OSBAT (ECB)

L. MARQUES (Univ. of Rochester) "Welfare Implications of Exchange Rate Changes.pdf", Discussant: C. CALDERON (World bank)

Session 2 : Development Economics I - President : G. CETTE (Banque de France & CEDERS)

E. JAIMOVICH (Univ. College London) "Sectoral Differentiation, Allocation of Talent, and Financial Development.pdf", Discussant: A. FABRE (CEDERS, Univ. de la Méditerranée)

E. ORGIAZZI (GREQAM, Univ. de la Méditerranée) "Financial Development and Instability - The Role of the Labor Share.pdf", Discussant: E. JAIMOVICH (Univ. College london)

M. TAMBERI (Polytechnic Univ. of Marche) (with A. Lo Turco) "Specialize Rightly or Decline.pdf", Discussant: E. ORGIAZZI (GREQAM, Univ. de la Méditerranée)

A. FABRE (CEDERS, Univ. de la méditerranée) (with E. Augeraud-Veron) "Child labor Trap, Schooling Quality and Growth.pdf", Discussant: M. TAMBERI (Polytechnic Univ. of Marche)

Session 3 : Open Macroeconomics - President : P. PINTUS (GREQAM, Univ. de la Méditerranée)

E. MARTINEZ-GARCIA (Univ. of Wisconsin-Madison) "A Monetary Model of the Exchange Rate with Asymmetrically-Dispersed Information.pdf", Discussant: A. EYQUEM (Univ. de Rennes)

H. BOUAKEZ (HEC Montréal & CIRPEE) (with T. Kano & J. Xu) "Imperfect Information, Learning, and Exchange Rate Dynamics.pdf", Discussant: P. PINTUS (GREQAM, Univ. de la Méditerranée)

A. EYQUEM (Univ. de Rennes 1) "Fiscal Policy in an Estimated Model of the European Monetary Union.pdf", Discussant: E. MARTINEZ-GARCIA (Univ. of Wisconsin-Madison)

P. PINTUS (GREQAM, Univ. de la Méditerranée) "Procyclical International Capital Flows, Debt Overhang and Volatility.pdf", Discussant: H. BOUAKEZ (HEC Montreal & CIRPEE)

12h00-13h30 Lunch

13h30-14h15 Plenary Session - President : A. FABRE (CEDERS, Univ. de la méditerranée)

R. TAMURA (Clemson Univ.) "Fertility Decline and Baby Boom.pdf" - "Graphs Fertility Decline and Baby Bom.pdf"

14h15-15h00 Plenary Session - President : A. FABRE (CEDERS, Univ. de la méditerranée)

S. PALLAGE (UQAM) (with M. Blouin) "Adressing the Food Aid Curse.pdf"

15h00-16h30 Parallel Contributed Session

Session 4 : Capital Flows I - President : H. BOUAKEZ (HEC Montréal & CIRPEE)

G. LE GARREC & V. TOUZE (OFCE) (with M. Aglietta, V. Borgy, J. Chateau, M. Julliard, J. Le Cacheux) "World Growth and the Catching up in Asia.pdf", Discussant: V. SALINS (Univ. Paris X)

V. SALINS (Univ. Paris X) (with A. Benassy-Quéré) "Institutions and Bilateral Asset Holdings.pdf", Discussant: K. GENTE (CEDERS, Univ. de la Méditerranée)

K. GENTE (CEDERS, Univ. de la Méditerranée) "Convergence and Real Exchange Rate in a Developping Country.pdf", Discussant: G. LE GARREC (OFCE)

Session 5 : Institutions and Growth - President : C. GARCIA-PENALOSA (CNRS-GREQAM)

B. PATERSON (Royal Military College of Canada) "Institutions - Why are They Persistent and Why Do They Change.pdf?", Discussant: N. DROMEL (GREQAM, Univ. de la Méditerranée)

N. DROMEL (GREQAM, Univ. de la Méditerranée) (with Ph. Aghion, Ph. Askenazy, G. Cette, & R. Bourles) "Education Superieure, Rigidites de Marche et Croissance.pdf", Discussant: C. GARCIA-PENALOSA (CNRS-GREQAM)

M.A. LEON-LEDESMA (Univ. of kent) (with K. Christopoulos) "International Output Convergence, Breaks and Asymmetric Adjustment.pdf", Discussant: B. PATERSON (Royal Military College of Canada)

16h30-16h45 Coffee/Tea Break

16h45-17h30 Plenary Session - President : G. CETTE (Banque de France & CEDERS)

F. ZILIBOTTI (Univ. of Zurich) "The Spirit of Capitalism : Cultural and Economic Changes in the Process of Growth."

20h00 Dinner

Mardi 3 Juillet, Tuesday, 3 July 2007

9h00-10h30 Plenary Session - President : G. NANCY (CEDERS, Univ. de la Méditerranée)

M. DEVEREUX (Univ. of British Columbia) (with A. Sutherland) "Financial Globalization and Monetary Policy.pdf

J. IMBS (HEC Lausanne) (with P. Mauro) "Pooling Risk Among Countries.pdf"

10h30-10h45 Coffee/Tea Break

10h45-13h00 Plenary Session - President : M. NORMANDIN (CEDERS & CIRPEE)

E. FAHRI (Univ. of Harvard) (with R. Caballero) "An Equilibrium Model of Global Imbalances and Low Interest Rates.pdf"

G. MILESI-FERRETTI (IMF & CEPR) (with P. Lane) "Europe and Global Imbalances.pdf"

M.D. CHINN (Univ. of Wisconsin & NBER) (with H. Ito) "East Asia and Global Imbalances - Saving, Investment, and Financial Development.pdf"

13h00-14h15 Lunch

14h15 Parallel Sessions

Session 6 : Development Economics II - President : S. PALLAGE (UQAM)

J.A. TAPSOBA (CERDI-CNRS, Univ. d'Auvergne) "Consumption Smoothing against Asymmetric GDP Shocks within WAEMU.pdf", Discussant: M. IACOPETTA (Giorgia Institute of Technology)

P. MAAREK (GREQAM, Univ. de la Méditerranée) (with B. Decreuse) "Foreign Direct Investment and the Labor Share in Developing Countries.pdf", Discussant: J.A. TAPSOBA (CERDI-CNRS, Univ. d'Auvergne)
M. IACOPETTA (Giorgia Institute of Technology) "Human Capital Dispersion and Incentives to Innovate .pdf", Discussant: P. MAAREK (GREQAM, Univ. de la Méditerranée)

Session 7: Capital Flows II - President : G. MILESI-FERRETTI (IMF & CEPR)

E.A. CAVALLO (Inter-American Development Bank) (with A. Velasco) "Quid Pro Quo - National Institutions and Sudden Stops in International Capital Movements .pdf", Discussant: I. ANDREOU & A. ZDZIENICKA-DURAND (GATE-CNRS, Univ. Lyon 2)

I. ANDREOU & A. ZDZIENICKA-DURAND (GATE-CNRS, Univ. Lyon 2) (with G. Dufrénot & A. Sand-Zantman) "A Forewarning Indicator System for Financial Crises - The case of Six Central and Eastern European Countries.pdf", Discussant: J.P. JOYCE & M. NABAR (Wellesley College)

J.P. JOYCE & M. NABAR (Wellesley College) "Sudden Stops, Banking Crises and Investment Collapses in Emerging Markets.pdf", Discussant: E.A. CAVALLO (Inter-American Development Bank)

15h45-16h00 Coffee/tea Break

16h00-17h30 Parallel Contributed Sessions

Session 8 : Imbalances - President : M.A. LEON-LEDESMA (Univ. of kent)

M. FIDORA (ECB) & Ph. ENGLER (Univ. Berlin) (with Ch. Thimann) "External Imbalances and the US Current Account - How Supply-Side Changes Affect an Exchange Rate Adjustment.pdf?", Discussant: Th. BRACKE (ECB)

M. GALLEGATI (Univ. Politecnica delle Marche) (with L. De Benedictis) "Trade Balance and Terms of trade in US - A Time-Scale Decomposition Analysis.pdf", Discussant: M. FIDORA & Ph. ENGLER (Univ. Berlin)

Th. BRACKE (ECB) (with B. Algieri) "Patterns of Current Account Adjustment - Insights from Past Experience.pdf", Discussant: M. GALLEGATI (Univ. Politecnica delle Marche)

Sesssion 9 : Monetary Policy - President : M. DEVEREUX (Univ. of British Columbia)

S. NISTICO (Univ. "G. d'Annunzio") & G. DI GIORGIO (Univ. LUISS "Guido Carli") "Fiscal Deficits, Current Account Dynamics and Monetary Policy.pdf", Discussant: A. LIPINSKA (Univ. Autonoma de Barcelona)

A. LIPINSKA (Univ. Autonoma de Barcelona) "The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU accession Countries.pdf", Discussant: M. NORMANDIN (CEDERS & CIRPEE)

M. NORMANDIN (CEDERS & CIRPEE) (with H. Bouakez) "Fluctuations in the Foreign Exchange Market - How Important are Monetary Policy Shocks.pdf?" , Discussant: S. NISTICO (Univ. "G. d'Annunzio")

17h30 End of Conference

OMD 2nd Ed.

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