Exchange Rates, Prices and the International Transmission Mechanism

23 - 24 June 2003

Rome, Italy

Organized with the Banca d'Italia and the Università di Roma Tre.

Conference Program

Giancarlo Corsetti (Università di Roma Tre), Luca Dedola (Banca d'Italia), and Sylvain Leduc (Federal Reserve Bank) "International Risk Sharing and the Transmission of Productivity Shocks"
Discussants: Fabrizio Perri (New York University) and Larry Christiano
(Northwestern University)

Matteo Bugamelli (Banca d'Italia) and Roberto Tedeschi (Banca d'Italia) "Pricing-to-Market Equations and Market Structure"
Discussants: Ariel Burstein (University of California Los Angeles) and Jean Imbs (London Business School)

Ariel Burstein (University of California Los Angeles), Martin Eichenbaum (Northwestern University) and Sergio Rebelo (Northwestern University): "Large Devaluations and the Real Exchange Rate"
Discussants: Mario Crucini (Vanderbilt University) and Andrew Levin (Board of Governors of the Federal Reserve System)

Philippe Bacchetta (Studienzentrum Gerzensee) and Eric Van Wincoop (University of Virginia): "Why do Consumer Prices React Less Than Import Prices to Exchange Rates?"
Discussants: Michael Devereux (University of British Columbia) and Cedric Tille (Federal Reserve Bank)

Linda Goldberg (Federal Reserve Bank of New York) and Jose Campa (IESE Business School and Banco de Espana): "Decomposing the Exchange Rate Disconnect Puzzle"
Discussant: Stephanie Schmitt-Grohe (Duke University) and Luca Dedola (Banca d'Italia)

Pinelopi Goldberg (Yale University): "What Can We Learn From Micro Studies on the Role of Non-traded Distribution Services in Explaining the Low Exchange Rate Pass-through to Consumer Prices"
Discussant: Morten Ravn (London Business School) and Pierre-Olivier Gourinchas (Princeton University)

Charles Engel (University of Wisconsin): "On the Relationship Between Pass-Through and Sticky Nominal Prices"
Discussant: Paolo Pesenti (Federal Reserve Bank of New York) and V.V. Chari (University of Minnesota)

Larry Christiano (Northwestern University), Fabio Braggion (European Central Bank) and Jorge Roldos (International Monetary Fund): "Optimal Monetary Policy in a Financial Crisis"
Discussant: Jaume Ventura (MIT and Universitat Pompeu Fabra) and Martin Uribe (Duke University)