Abstract
IMF research summaries on governance of banks (by Luc Laeven) and on whether there is a foreign aid paradox (by Thierry Tressel); country study on Mozambique (by Jean A.P. Clément and Shanaka J. Peiris); listing of visiting scholars at the IMF during July 2007-January 2008; listing of contents of Vol. 54, Issue No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a call for papers for the upcoming Conference on International Finance.
The International Monetary Fund and the World Economy and Finance Research Programme of the UK Economic and Social Research Council will hold a conference on international macrofinance at the IMF headquarters in Washington, DC, on April 24–25, 2008. The conference will provide a forum to present recent theoretical and empirical research narrowing the gap between “open-economy macro” and “finance” approaches to international financial issues.
While there is a very active literature on macrofinance linkages in the context of closed economies, applications to an open economy setting have just begun. International finance has traditionally relied on partial equilibrium analyses, while open-economy macroeconomics has avoided incorporating realistic financial features in its general equilibrium models because of the technical difficulties of doing so. Recent methodological advances now permit researchers to embed more realistic financial market structure in open-economy models.
This conference aims to stimulate the innovation process and its diffusion to the analysis of relevant policy issues. Possible topics using this new approach include (but are not restricted to):
Monetary policy and asset prices in an open economy
Policies for managing capital flows
Global liquidity and credit risk
International risk-sharing and financial markets
General equilibrium international portfolio models
Reserve management and sovereign wealth funds
Exchange rates and financial markets
Interested authors should submit either a draft of the paper or a detailed abstract by January 15, 2008 to RESIMF@imf.org In the selection process, preference will be given to papers that are already in draft form. The final versions of the papers selected for the conference are due by April 10, 2008.
Papers presented at the conference will be considered for publication in a special issue of the Journal of International Economics (JIE), subject to the standard JIE referee-ing procedures. Inquiries about the conference may be directed to RESIMF@imf.org
The conference organizers are Michael Devereux (University of British Columbia), Akito Matsumoto (IMF), Alessandro Rebucci (IMF), and Alan Sutherland (University of St. Andrews).