CONNECT VIA SDR Rates for November 12 SDR Interest Rate = 0.050% | 1USD = SDR 0.681282 M ORE P rogram in PDF Get the App Related Links P rogram A nnual IMFResearch Conference Fifteenth Jacques Polak Annual Research Conference: "Cross- Border Spillovers" November 13–14, 2014 The International Monetary Fund will hold the Fifteenth Jacques Polak Annual Research Conference at its headquarters in Washington DC on November 13–14, 2014. The theme of this year's conference is " Cross-Border Spillovers."The conference is intended to provide a forum for discussing innovative research and to facilitate the exchange of views among researchers and policymakers. Hélène Rey (London Business School) will deliver the Mundell-Fleming Lecture. H OME A BOUT THE IMF RE SEARCH C OUNTRIES A RC CONFERENCE N EW S V IDEO S D ATA AND S TATISTICS P UBLICATION S S OCIAL MEDIA H UB http://www.imf.org/external/np/res/seminars/2014/arc/index.htm 1/6 http://www.imf.org/external/np/res/seminars/2014/arc/index.htm #ARCPolak
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
CONNECTVIA
SDR Rates for November 12 SDR Interest Rate =
0.050%
| 1 USD = SDR 0.681282MORE
Program in PDF
Get the App
Related Links
Program
Annual IMFResearch Conference
Fifteenth Jacques Polak AnnualResearch Conference: "Cross- BorderSpillovers"
November 13–14, 2014
T he In tern ation al Mon etary Fun d w ill hold th e Fifteen th J acques Polak
A n n ual Research C on feren ce at its h eadquarters in Washin gton D C on
N ovem ber 13– 14, 2014.
The them e of this year's conference is "Cross-Border Spillovers." The conference
is intended to provide a forum for discussing innovative research and to
facilitate the exchange of views am ong researchers and policym akers. H élène
Rey (London Business School) will deliver the Mundell-Flem ing Lecture.
11/13/2014 Understanding Spillovers | iMFdirect - The IMF Blog
Against this backdrop, the IMF’s 15th Jacques Polak Annual Research Conference, “Cross-Border Spillovers
(http://www.imf.org/external/np/res/seminars/2014/arc/index.htm),”on November 14-15 is timely. While
spillovers are at the core of the IMF’s surveillance
(http://www.imf.org/external/pubs/ft/survey/so/2014/NEW100514A.htm) mandate, it is clear that a lot of
work is taking place outside the IMF.
This year’s conference program brings together contributions by researchers both inside and outside the IMF,
aimed at understanding the different channels through which shocks can be transmitted among economies,
and how policies can help mitigate their impact. In particular, the conference will look at the main challenges
posed by the outcome delivered by market forces, and whether there are adequate policy instruments at the
national level to deal with these challenges. And if not, what can be realistically done in terms of policy
coordination.
Global financial cycles and monetary independenceHélène Rey, Professor of Economics at the London Business School, and Research Fellow at the Center for
Economic Policy Research (CEPR) and the National Bureau of Economic Research (NBER), will give the
keynoteMundell-Fleming lecture on the controversial issue of global financial cycles and the extent of
monetary policy independence of national central banks.
The conference will also discuss 12 papers on key transmission channels of cross-border spillovers from
monetary and fiscal policies, linkages in debt markets and trade integration, as well as policy instruments to
manage capital flows and international policy cooperation.
Just to give you a flavor of what to expect, here are some of the questions that we will be discussing:1. What is the impact of changes in US monetary policy on foreign bonds yields? Does it differ depending
on the policy instrument used? Do conventional and unconventional policies have a different impact on
the yield curve?2. How has unconventional monetary policy by the European Central Bank worked? What was the impact
on Europe and the on the rest of the world? What are the relevant transmission channels; are
these similar to the ones under US UMP?
3. What is the impact of government spending on the exchange rate? Is it really associated to
exchange rate depreciations, i.e. ‘beggar-thy-neighbor’ type of effects?
4. Do sovereign debt defaults in one country trigger defaults in other countries? Do they change
the cost of financing and incentives to default in other countries?
5. What are the conditions under which international spillovers effects are Pareto efficient?
How does equilibrium with strategic policy setting at the global level compare against
equilibrium with global policy cooperation?
6. Is it optimal to restrict international capital flows amid financial markets incompleteness, i.e.
prices sending signals that do not induce socially optimal outcomes?
7. Have capital controls been effective? How is their potential effectiveness affected by leaks—
i.e. the limited enforcement of these measures?8. Does deeper trade integration through internat'l input linkages amplify cross-border spillovers?9. Can fiscal and capital market integration dampen the transmission of leveraging/deleveraging
shocks within a monetary union –i.e. Europe?
10. Did growth in countries with higher trade and financial integration fall more during the
Great Depression?
The conference will conclude with an Economic Forum. A panel of experts, Jean Boivin (Deputy
Chief Strategist at BlackRock and former Canada’s deputy finance minister), Hector Torres (Brazil’s
Alternate Executive Director at the IMF Executive Board), Maurice Obstfeld (United States Council
of Economic Advisers and University of California at Berkeley), and David Vines (Professor of
Economics at the University of Oxford), will discuss their views on cross-border spillovers and
policy coordination.
11/13/2014 Understanding Spillovers | iMFdirect - The IMF Blog
3) What is the impact of government spending on the exchange rate? Is it really associated to exchange rate depreciations, i.e. ‘beggar-thy-neighbor’ type of effects?
4) Do sovereign debt defaults in one country trigger defaults in other countries? Do they change the cost of financing and incentives to default in other countries?
5) What are the conditions under which international spillovers effects are Pareto efficient? How does equilibrium with strategic policy setting at the global level compare against equilibrium with global policy cooperation?