Past Conferences

	Area Conference on Macro, Money & International Finance CESifo Conference Centre, Munich 25-26 February 2011 Programme

	Friday, 25 February 2011
	Session 1
09:00 - 09:10	Welcome & Introduction PAUL DE GRAUWE
09:10 - 10:00	Financial Integration, Globalization, and Real Activity GIANNI DE NICOLO Discussant: FRANK WESTERMANN
10:00 - 10:20	Coffee Break
	Session 2
10:20 - 11:10	Macroeconomic Consequences of Different Types of Credit Market Disturbances and Non-Conventional Monetary Policy in the Euro Area GERT PEERSMAN Discussant: TIMO WOLLMERSHAUSER
11:10 - 12:00	Financial Development and Business Cycle Volatility in OECD Countries JARKO FIDRMUC and Johann Scharler Discussant: CHRISTOPHE RAULT
12:00 - 13:00	Lunch
	Session 3
13:00 - 13:50	Explaining IMF Lending Decisions after the Cold War JAN-EGBERT STURM and Christoph Moser Discussant: GIANNI DE NICOLO
13:50 - 14:40	Financial Development and Sectoral Output Growth in 19th Century Germany Katharina Diekmann and FRANK WESTERMANN Discussant: PAUL DE GRAUWE
14:40 - 15:00	Coffee Break
	Session 4
15:00 - 15:50	An Extended Macro-Finance Model with Financial Factors HANS DEWACHTER and Leonardo Iania Discussant: GUGLIELMO MARIA CAPORALE
15:50 - 17:10	POSTER SESSION
	Credit Derivatives and the Default Risk of Large Complex Financial Institutions GIOVANNI CALICE, Christos Ioannidis and Julian Williams
	Liquidity Risk, Credit Risk and the Overnight Interest Rate Spread: A Stochastic Volatility Modelling Approach GUGLIELMO MARIA CAPORALE, John Beirne and Nicola Spagnola
	Volatility Transmission in Emerging European Foreign Exchange Markets EVZEN KOCENDA, Vít Bubák and Filip Žikeš
	Short and Long-run Behaviour of Long-term Sovereign Bond Yields CHRISTOPE RAULT and António Afonso
	Market Uncertainty and Macroeconomic Announcements: High-Frequency Evidence form the German DAX KLAUS WOHLRABE, Stefan Mittnik and Nikolay Robinzonov
	Loan Supply Shocks During the Financial Crisis: Evidence for the Euro Area TIMO WOLLMERSHAEUSER, Nikolay Hristov and Oliver Hülsewig

	Saturday, 26 February 2011
	Session 5 Presentations by Distinguished CESifo Affiliate Award Candidates
09:00 - 9:40	What are the Effects of Tax Changes in the United Kingdom: New Evidence from a Narrative Evaluation JAMES CLOYNE
09:40 - 10:20	Exchange Rates and Asset Prices: Heterogeneous Agents at Work GIULIA PICCILLO
10:20 - 11:00	Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-based Evidence from Japan SEBASTIAN WATZKA and Heike Schenkelberg
11:00 - 11:15	Coffee Break
	Session 6
11:15 - 12:05	The Equity Hedging Channel of Exchange Rate Adjustment MICHAEL MELVIN and John Prins Discussant: EVZEN KOCENDA
12:05 - 12:55	Exchange Rate Equations Based on Interest Rate Rules: In-Sample and Out-of-Sample Performance YIN-WONG CHEUNG and Mahir Binici Discussant: CARLO ALTAVILLA
12:55 - 14:00	Lunch
	Session 7
14:00 - 14:50	The Euro/Dollar Exchange Rate: Chaotic or Non-Chaotic? Daniele Federici and GIANCARLO GANDOLFO Discussant: HANS DEWACHTER
14:50 - 15:40	Monetary Policy Analysis in Real-Time. Vintage Combination from a Real-time Dataset CARLO ALTAVILLA and Matteo Ciccarelli Discussant: JARKO FIDRMUC
15:40 - 16:00	Coffee Break
	Session 8
16:00 - 16:50	What Drives China’s Current Account MATHIAS HOFFMANN Discussant: YIN-WONG CHEUNG
16:50 - 17:40	The Distributional Consequences of Supply-side Reforms in General Equilibrium JAMES MALLEY, Konstantinos Angelopoulos and Bernard X. Fernandez Discussant: GIOVANNI CALICE
19:30	Conference Dinner END OF THE CONFERENCE

Area Conference on Macro, Money & International Finance

CESifo Conference Centre, Munich 25-26 February 2011

Programme

Friday, 25 February 2011

Session 1

Session 2

Session 3

Session 4

POSTER SESSION

Saturday, 26 February 2011

Session 5 Presentations by Distinguished CESifo Affiliate Award Candidates

Session 6

Session 7

Session 8

Area Conference
on Macro, Money & International Finance

CESifo Conference Centre, Munich
25-26 February 2011

Session 5
Presentations by Distinguished CESifo Affiliate Award Candidates