Global Imbalances and Asian Financial Markets
29-30 September 2005
University of California, Berkeley
223 Moses Hall

Workshop Home

Agenda with Links to Papers

Thursday, September 29

9:30 Transfer from Hotel to Workshop

10:00 Session 1. Global Imbalances

Chair: Barry Eichengreen

Maurice Obstfeld (UC Berkeley), "The Unsustainable US Current Account Position Revisited" (with Kenneth Rogoff)
Discussant: Hans Genberg (HKIMR)

Pierre-Olivier Gourinchas (UC Berkeley), "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege" (with Helene Rey)
Discussant: Reuven Glick (Federal Reserve Bank of San Francisco)

12:30 Lunch

2:00 Session 2. Global Imbalances, Continued

Chair: Yung Chul Park

Francesco Giavazzi (Bocconi University), "The US Current Account and the Dollar"
Discussant: Andrew Rose (UC Berkeley)

3:15 Coffee Break

3:30 Session 3. International Reserves, Financial Markets, and International Currencies

Chair: Charles Wyplosz

Jaewoo Lee (IMF), "Insurance Value of International Reserves: An Option Pricing Approach"
Discussant: Chang Yong Rhee (Seoul National University)

Jeffrey Frankel (Harvard University), "Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?" (with Menzie Chinn)
Discussant: Koichi Hamada (Yale University)

5:30 Close

5:45 Transfer from Workshop to Dinner

Friday, September 30

8:30 Transfer from Hotel to Workshop

9:00 Session 4. Asian Financial Markets

Chair: Barry Eichengreen

Akkharaphol Chabchitrchaidol and Sakkapop Panyanukul (Bank of Thailand), "Key Determinants of the Liquidity of the Thai Bond Market"
Discussant: Michael Hasenstab (Franklin Templeton Investments)

Frank Warnock (University of Virginia), "Foreign Participation in Local-Currency Bond Markets" (with John Burger)
Discussant: Pipat Luengnaruemitchai (IMF)

11:00 Coffee Break

11:15 Session 5. Asian Financial Markets, Continued

Chair: Yung Chul Park

Jong-Wha Lee, Soyoung Kim and Kwanho Shin (Korea University), "Regional and Global Financial Integration in East Asia"
Discussant: Galina Hale (Yale University)

Robert McCauley (BIS), "Basket Weaving: The Eurobond Market Experience with Currency Baskets" (with Clifford Dammers)
Discussant: Gyutaeg Oh (Chung-Am University)

1:15 Close

1:45 Transfer from Hotel to Workshop

This conference was organized with the support of the Korea Economic Institute, the National Science Foundation, the Institutes of East Asian Studies and European Studies and the Clausen Center for International Business and Policy of the University of California, Berkeley, whose generosity is acknowledged with thanks.