23rd Jacques Polak Annual Research Conference
The Global Economy: Looking Back, Moving Forward
November 10-11, 2022
The International Monetary Fund will hold the 23rd Jacques Polak Annual Research Conference at its headquarters in Washington DC on November 10-11, 2022.
The theme of this year's conference is “The Global Economy: Looking Back, Moving Forward.” The conference will provide a forum for discussing innovative research on a wide range of topics relevant to the global economy and to facilitate the exchange of views among researchers and policymakers.
This year’s conference will honor Maurice Obstfeld’s contributions to economic research and policy. Obstfeld is the preeminent scholar of international economics. Before joining the faculty at the University of California, Berkeley, he held appointments at Columbia University, the University of Pennsylvania, and Harvard University. During 2015-2018 he served as the Chief Economist of the IMF, and in 2014-2015 he was a Member of President Obama’s Council of Economic Advisors. The conference will bring together an outstanding array of economists and policymakers, many of whom were Obstfeld’s students, colleagues, or collaborators. Linda Goldberg (Federal Reserve Bank of New York) will deliver the Mundell-Fleming Lecture.
Agenda
Thursday, November 10, 2022 |
|
9:00–9:20 am |
Opening Remarks by Kristalina Georgieva (Managing Director, IMF) and |
9:20–10:50 am |
Session 1: Currency Areas and the Dominance of the US Dollar
Chair: Ceyla Pazarbasioglu (Director, Strategy, Policy, and Review Department, IMF) Currency Areas, Labor Markets, and Regional Cyclical Sensitivity The Dollar's Imperial Circle |
10:50–11:00 am | ***Coffee Break*** |
11:00–12:30 pm |
Session 2: The Fiscal-Monetary Mix in the Post-COVID-19 Era Chair: Paolo Mauro (Deputy Director, Fiscal Affairs Department, IMF) The Fiscal Consequences of Missing an Inflation Target Gambling to Preserve Price (and Fiscal) Stability |
12:30–2:00 pm | ***Lunch Break*** |
2:00–3:30 pm |
Session 3: International Trade and the Macroeconomy Chair: Giovanni Dell’Ariccia (Deputy Director, Research Department, IMF) International Trade and Macroeconomic Dynamics with Sanctions The Impact of U.S. Monetary Policy on Foreign Firms |
3:30–3:45 pm | ***Coffee Break*** |
3:45–5:00 pm |
Mundell-Fleming Lecture: Global Liquidity: Drivers, Volatility and Toolkits Introduction by Pierre-Olivier Gourinchas (Economic Counsellor and Director, Research Department, IMF) |
Friday, November 11, 2022 |
|
9:15–10:45 am |
Session 4: Financial Liberalization and Macro-Financial Linkages in Emerging Market Economies Chair: Charles Collyns (Director, Independent Evaluation Office, IMF) The Internationalization of China’s Equity Markets Uncovering CIP Deviations in Emerging Markets: Distinctions, Determinants, and Disconnect |
10:45–11:00 am | ***Coffee Break*** |
11:00–12:30pm |
Policy Panel – The Global Economy: Old Trade-offs and New Challenges Moderator: Pierre-Olivier Gourinchas (Economic Counsellor and Director, Research Department, IMF) Panelists: |
12:30–2:00 pm | ***Lunch Break*** |
2:00–3:30 pm |
Session 5: Global Trends in Interest Rates and Credit Chair: Tobias Adrian (Director, Monetary and Capital Markets Department, IMF) Long-Run Trends in Long-Maturity Real Rates, 1311-2021 Many Creditors, One Large Debtor: Understanding the Buildup of Global Stock Imbalances after the Global Financial Crisis |
3:30–3:45 pm | ***Coffee Break*** |
3:45–4:00 pm |
Tribute to Robert Mundell by Maurice Obstfeld |
4:00–5:30 pm |
Session 6: The Macroeconomic Costs of Rare Events Chair: Dominique Desruelle (Director, Institute for Capacity Development, IMF) Disasters Everywhere: The Costs of Business Cycles Reconsidered Climate Risks and exchange rates |
5:30 pm | Closing Remarks |
Conference Organizing Committee: Nina Biljanovska (IMF), Andrei Levchenko (Editor-in-Chief of the IMF Economic Review and the University of Michigan), Prachi Mishra (IMF, Co-Editor of the IMF Economic Review), and Damiano Sandri (former IMF)
Conference Coordinators: Tracey Lookadoo, Jing DiBerardino, Nicole Jales, and Daniela Rojas
Disclaimer: This web page contains links to papers that will be presented at the 23rd Jacques Polak Annual Research Conference (ARC). The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.