LACEA Rio 2000


08:00 - 10:00




10:00 - 11:15


The Prospects for Latin America  in the 2000's

Stanley Fischer (First Deputy Managing Director, IMF)
Chair: Pedro Malan (Finance Minister, Brazil)

Room: Gávea A

11:15 - 11:45




11:45 - 13:15


Financial Crises

 Chair: afonso bevilaqua (puc-rio)

Discussant: Ricardo Hausmann

(harvard university)

Room: Gávea A

Graciela Kaminsky (George Washington University), The Center and the Periphery: Tales of Financial Turmoil  (Joint with Carmen M. Reinhart)

Guillermo Calvo (University of Maryland), Price Stickiness, Liability Dollarization and Credibility

Michael Dooley (UC at Santa Cruz), The IMF and the Private Sector: Friends or Rivals?

Two Years of the Brazilian Imf Program

Chair: Márcio Garcia (Puc-Rio)

Room: Gávea B

Ilan Goldfajn (PUC-Rio and Banco Central do Brasil)

Eduardo Borensztein (IMF)

Eliana Cardoso (Eces–Egyptian Center for Economic Studies)

Technology and Labor Markets

 Chair: Naércio Menezes

Room: Leme

Stephen Machin (UCL), Skill Biased Technology Transfer: Evidence  Factor Biased Technological Change in Developing Countries (Joint with Eli Berman)

John Van Reenen (UCL), Skill Biased Organizational Change? Evidence from a Panel of British and French Establishments (Joint with Eve Caroli)

Naércio Menezes (USP), Inequality in Brazil: The Role of Increasing Demand for Skill

New Developments in Applied Theory

Chair: Humberto Moreira

Room: Ipanema

Jeffrey  Zwiebel (Stanford University), A Model of Persuasion - With Implications for Financial Markets (Joint with Peter DeMarzo and Dimitri Vayanos) 

Walter Novaes (Washington University), Bureaucracy as a Mecanism to Generate Information (Joint with Luigi Zingales)

Thierry Verdier (DELTA), The Internal Organization of the Firm, Transaction Costs and Macroeconomic Growth (Joint with David Martimort)

13:15 - 14:30




14:30 - 16:00


Crime and Violence

Chair: Norman Loayza (Banco Central de Chile) 

Room: Gávea A

Oriana Bandiera (LSE), Land Reform and the Origins of the Sicilian Mafia: a Model and a Test

Rodrigo Reis Soares (University of Chicago), Development, Crime, and Punishment: Accounting for the International Diferences in Crime Rates

Pablo Fajnzylber (UFMG), Crime and Victimization: an Economic Perspective (Joint with Norman Loayza  and Daniel Lederman)

Monetary Policy Rules

Chair: Michael Kumhof
(Stanford University)

Room: Gávea B

Alexander Hoffmaister (Banco Central de Costa Rica), Inflation Targeting in Korea: An Empirical Exploration

Fábio Kanczuk (USP), Interest Rate Sustainability Risk (Joint with Michael Akemann)

Luiz Miguel Triveño Chan Jan (Min. of Economy, Peru), Monetary Rules for Peru (Joint with Jose Antonio Dorich Doig)

Michael Kumhof (Stanford University), Inflation Targeting under Imperfect Credibility


Chair: Giovanni Dell'Ariccia

 Room: Leme

Tito Cordella (IMF), Liquidity Management and Trading in the Interbank Market (Joint with Haizhou Huang)

Miguel Braun (Harvard University), The Role of Banks in the Transmission of Shocks: Micro Evidence from Argentina 1996-1999  (Joint with Eduardo Levy Yeyati ) 

Robert Marquez (University of Maryland), Relationship Banking, Loan Specialization and Competition (Joint with Robert Hauswald)

Giovanni Dell'Ariccia (IMF), Flight to Quality or to Captivity? Information and Credit Allocation (Joint with Robert Marquez)

The Impact of Training Policies in Latin America and the Caribbean

Chair: James Heckman
(University of Chicago) 

discussant: gustavo marquez (iadb)

Room: Ipanema

Cristián Aedo (ILADES-Georgetown University, Universidad Alberto Hurtado), The Impact of Training Policies in Latin America and the Caribbean: The Case of "Programa Joven" (Joint with Sergio Nuñez)

Carlos Medina (Universidad de los Andes), The Impact of Public Provided Job Training in Colombia (Joint with Jairo Nuñez and Fábio Sánchez)


Political Parties and Interest Groups

 Chair: Jorge Streb (Cema)

Room: Vidigal  A

Luis Fernando Medina (Stanford University), Legislatures vs. Political Parties: Endogenous Policy with Strategic Voters

Ignacio Ortuño-Ortín (Universidad de Alicante), Public Funding of Political Parties
(Joint with Christian Schultz)

Jorge Streb (CEMA), Signaling in Political Budget Cycles: Competency or Opportunism?

Crises and Recovery

Chair: Daniel Lederman
(World Bank)

Room: Vidigal C

Gerardo Esquivel (El Colegio de Mexico) Currency Crises: Is Central America Different? (Joint with Felipe Larraín)
Miguel Linartas Messmacher (Banco de Mexico), Financial Liability Adjustment of Firms with FDI: The Mexican Case Before and After the 1994 Crisis

Daniel Lederman (World Bank), The Recovery of Mexican Investment after the Tequila Crisis: Basic Economics or “Confidence” Effects? (Joint with Ana Maria Menéndez, Guillermo Perry and Joseph Stiglitz)

Government and Corruption

Chair: Juan Mendoza (State  University of New York at Buffalo)

Room: Corcovado

Rudiger Ahrend (DELTA), Press Freedom, Human Capital, and Corruption
José Tavares (Universidade Nova, Lisbon), Can Openness Deter Corruption? (Joint with Felipe Larraín)

Juan Mendoza (State University of New York at Buffalo), The Protection of Private Property: The Government as a Free-Rider

real business cycles and Taxation

Chair: mirta bugarin (unb)

Room: Leblon A

Francisco J. Ruge-Murcia (Université de Montréal), Distortionary Taxation and Labor Supply: Evidence from Canada (Joint with Emanuela Cardia and Norma Kozhaya)

Raphael Bergoeing (ILADES-Georgetown University, Universidad Alberto Hurtado), Testing Real Business Cycle Models in na Emerging Economy (Joint withRaimundo Soto)

Mirta N. S. Bugarin (UnB), Progressive Taxation and the Real Business Cycle

Yield Curve and Spread

Chair: Caio Ibsen Rodrigues de Almeida

 Room: Leblon B

Sergey Drobyshevsky (Institute for Economy in Transition, Moscow), Monetary Policy and Expectation Hypothesis at the Russian Treasury Bills Market

Sebastian Schich (OECD), How Stable is the Predictive Power of the Yield Curve? Evidence from Germany and the United States (Joint with Arturo Estrella and Anthony Rodrigues)

Sara Gabriela Castellanos (Banco de México), What is the Information Content of México's Term Structure of Interest Rates? (Joint with Eduardo Camero)

Caio Ibsen Rodrigues de Almeida (PUC-Rio), Credit Spread Arbitrage in Emerging Eurobond Markets (Joint with Antonio Marcos Duarte and Cristiano Fernandes)

the teaching on poverty and inequality in latin america: where do we stand?

 Chair: Ariel Fiszbein
(World Bank)

 Room: Lagoa

Francisco H. G. Ferreira (PUC-Rio)

Carlos Acuña (Universidad de San Andrés)

Osvaldo Larrañaga (Universidad de Chile)

Enrique Vasquez (Universidad del Pacifico)

Monica Gendreau (Universidad Iberoamericana de Puebla)

Economic Theory

Chair: Pierre-Yves Geoffard

 Room: São Conrado

Federico Echenique (UC at Berkeley), Strategic Complementarities and Mixed Equilibria
Federico Weinschelbaum (Universidad de San Andrés), The Threat of Insurance: A Note on The Principal Agent Robustness (Joint with Mariano Tommasi)

Pierre-Yves Geoffard (DELTA), Time Inconsistencies, Paternalism and Drug Consumption: a Theory of “Good” Distortions

Growth theory and evidence 

Chair: João Victor Issler

Room: Copacabana

Patricia M. H. da Silva (UC at Santa Cruz), International Trade, Intellectual Property Rights and Economic Growth: A Panel Data Study of Developed and Developing Countries

Alain Desdoigts (Université d'Evry-Val d'Essonne), Neoclassical Convergence Versus Technological Catch-Up: A Contribution for Reaching a Consensus
Marc-Andreas  Muendler (UC at Berkeley), Trade and Growth Revisited: Managing to Converge, Agreeing to Diverge

João Victor Issler (EPGE-FGV), On the Nature of Income Inequality Across Nations (Joint with Pedro Cavalcanti Ferreira and Samuel de Abreu Pessôa)



16:15 – 17:45




Exchange rate regimes in latin america

Chair: Gustavo Franco

 Room: Gávea A

Edmar Bacha (BBA)

Vittorio Corbo (PUC-Chile), Monetary Policy in Latin America in the 90s (Joint with Andres Elberg and Jose A. Tessada)

Pablo Guidotti (UTDT)

Economic Policy Challenges in the Next Decade: A Panel Discussion

Chair: Afonso bevilaqua (Puc-Rio)

 Room: Gávea B


Mauricio Cárdenas (Former Cabinet Minister, Colombia)
José Márcio Camargo (PUC-Rio)

Carlos Winograd (Min. of Economy, Argentina)

Social and Economic Mobility

Chair: Gary Fields
(Cornell University)

Room: Leme

Roland Bénabou (Princeton University), Social Mobility and the Demand for Redistribution: the POUM Hypothesis (Joint with Efe A. Ok)

Raquel Fernandez (NYU), Inequality and Sorting
Samuel Freije (Cornell University), Income, Positional and Poverty Dynamics in Venezuela

Gary Fields (Cornell University), Does Income Mobility Equalize Longer-Term Incomes? New Measures of an Old Concept

Regional Inequality and Economic Growth

Chair: Carlos Azzoni (Usp) 

Room: Ipanema

Anthony J. Venables (LSE), Economic Geography and International Inequality (Joint  with Stephen Redding)

Martin Ravallion (World Bank), Geographic Poverty Traps? A Micro Model of Consumption Growth in Rural China (Joint with Jyotsna Jalan)

Carlos Azzoni (USP), Opening the Convergence Black Box: Demographic Aspects behind Brazilian Regional Inequality (Joint with Naércio A. Menezes)

17:45 – 18:15




18:15 – 19:45


Monetary Policy and FERR

Chair: Fábio Ghironi
(Federal Reserve Bank of new york)

Room: Gávea A

Eduardo Morón (Universidad del Pacífico), Uncovering Central Bank's Exchange Rate Market Intervention Policy Objectives: Going Beyond Fear of Floating (Joint with Juan Francisco Castro)

Pierre St-Amant (Bank of Canada), Revisiting the Case for Flexible Exchange Rates in North America (Joint with Jason Daw, John Murray and Lawrence Schembri)

Ernesto Stein (IADB), Why do Countries Float the Way They Float (Joint with Ricardo Hausmann and Ugo Panizza).

Fabio Ghironi (Federal Reserve Bank of New York), Monetary Rules for Emerging Market Economies (Joint with Alessandro Rebucci)

Safety from Currency Crisis

Chair: Kenneth Kletzer
(UC at Santa Cruz)

Room: Gávea B

Olivier Jeanne (IMF), The International Lender of Last Resort: How Large is Large Enough? (Joint with  Charles Wyplosz)

Enrique Lucio Kawamura (Universidad de San Andrés), International and Local Lenders of Last Resort in a Small Open Economy with Aggregate Risk
Caroline van Rijckeghem (IMF), Safety from Currency Crashes (Joint with Kent Osband)

Kenneth M. Kletzer (UC at Santa Cruz), The Effectiveness of Self-protection Policies for Safeguarding Emerging Market Economies from Crises

Asset Prices in Emerging Markets

Chair: Marco A. Bonomo

Room: leme

Torbjorn  Becker (IMF), Devaluation Expectations and the Stock Market: The Case of Mexico in 1994/95 (Joint with Gaston R. Gelos and Anthony J. Richards)

Gaston R. Gelos (IMF), A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds (Joint with Eduardo R. Borensztein)

Torsten Slok (IMF), Do Asset Prices in Transition Countries Contain Information About Future Economic Activity? (Joint with Peter Christoffersen)

Marco Antonio Cesar Bonomo (EPGE-FGV), Brazilian Asset Pricing Puzzles (Joint with Gabriela Bertol Domingues)

Distributional Implications of Macroeconomic and trade policies

Chair: Nora Lustig

Room: Ipanema

Jan  Hansen (Humboldt University), Is Intra-Industrial Trade to Blame for Rising Inequality?

Damien King (University of West Indies), The Welfare Effects of Balance of Payments Reform: A Macro-Micro Simulation with Application to Jamaica (Joint with Sudhanshu  Handa)

Naércio Menezes (USP), Trade Liberalization or SBTC? Evidence of Inequality from Mexico and Brazil (Joint with Liliana Mesa-Gonzáles)

Sergio Urzúa (Universidad de Chile), Income Distribution in Chile 1990-1998: Learning from Microeconomic Simulations (Joint with Tomás Rau, Dante Contreras and David Bravo)

Land and Property Rights

Chair: Pedro Olinto
(World Bank)

Room: Vidigal A

Carmen Diana  Deere (University of Massachusetts), Who Owns The Land? Gender and Land Titling Programs in Latin America (Joint with Magdalena Leon)

Jean Lanjouw (Yale University),  Untitled: A Study of Formal and Informal Property Rights in Urban Ecuador (Joint with Philip I. Levy)

Rodrigo Garcia-Verdu (University of Chicago), Risk-sharing in Rural Mexico

Pedro Olinto (World Bank), Getting Institutions 'Right' for Whom? Credit Constraints and the Impact of Property Rights on the Quantity and Composition of Investments (Joint with Michael R. Carter)

Core Inflation and NAIRU

 Chair: Paulo Picchetti

Room: Vidigal C

Antônio  Fiorêncio (IBMEC), Measuring Core Inflation as The Common Trend of Prices (Joint with Ajax Moreira)

Elcyon Caiado Rocha Lima (IPEA), The NAIRU, Unemployment and the Rate of Inflation in Brazil

Paulo Picchetti (USP), How Much to Trim? A Methodology for Calculating Core Inflation, with an Application for Brazil (Joint with Celso Toledo)


 Chair: Pablo Druck
(Universidad del Cema)

Room: Corcovado

Jorge Eduardo Carrera (UNLP), How Does Dollarization Affect Real Volatility and Country Risk? (Joint with Mariano Feliz and Demian Panigo)

Luis Catão (IMF), Determinants of Dollarization: the Banking Side (Joint with Marco Terrones)

Pablo Druck (Universidad del CEMA), The Twin Risks in the Dollarization Debate: Country and Devaluation Risks (Joint with Eduardo Morón and Jaime Cardoso)

Financial Market Microstructure

Chair: Jordi Prat
(Cornerstone Research and Ucla)

Room: Leblon A

Andrew  Ellul (LSE), As you Like it: An Investigation of Trading Behaviour and Price Volatility on Auction and Dealership Market Architectures
Juan-Manuel Renero, Are There Market Fluctuations That Increase Trade and Welfare?

Jordi Prat (Cornerstone Research and UCLA), The Effects of Dual-Listing on Latin American Markets (Joint with Michael Beauregard)


Chair: Pilar Romaguera
(Universidad de Chile)

Room: Leblon B

Eric  Bettinger (MIT), Vouchers for Private Schooling in Colombia: Evidence from a Randomized Natural Experiment (Joint with Joshua Angrist, Michael Kremer, Elizabeth King and Erik Bloom)
Norbert R. Schady (World Bank), What Education Pays? Non-Linear Returns to Schooling Among Filipino Men

Miguel Urquiola (World Bank), Identifying Class Size Effects in Developing Countries: Evidence from Rural Schools in Bolivia

Pilar Romaguera (Universidad de Chile), Determinants of Student Achievement and School Effects in Bolivia (Joint with Alejandra Mizala and Teresa Reinaga)

Corporate Finance and Banking

 Chair: Alexander Monge Naranjo (Northwestern University)

 Room: lagoa

Mario Bergara (BC, Uruguay), Outsourcing in the Uruguayan Banking Sector: a TCE perspective (Joint with Hugo Libonatti)

Luis Carranza (BBVA), Explorations on Entrepreneurship and Financial Intermediation (Joint with Jesús Fernandéz-Villaverde and José E. Galdón-Sánchez)

Esteban Rodrigo Vesperoni (University of Maryland), Globalization and Firm's Financing Choices: Evidence from Emerging Economies (Joint with Sergio Schmukler)

Alexander Monge Naranjo (Northwestern University), Financial Markets, Creation and Liquidation of Firms and Aggregate Dynamics

Employment and Unemployment

 Chair: Marcello Estevão

Room: São Conrado

David S. Kaplan (ITAM), Firm-Wide versus Establishment-Specific Pay Practices (Joint with Brooks Pierce)

Dimitri Paolini (Université Catholique de Louvain), Two Sided Search and Temporary Employment

Nuria  Rodriguez-Planas (Mathematica Policy Research), Playing Hard to Get: New Evidence on Layoffs, Recalls, and Unemployment

Marcello  Estevão (IMF), Measuring Temporary Labor Outsourcing in US Manufacturing (Joint with Saul Lach)

Income and Wealth Dynamics

Chair: Pablo Sanguinetti

Room: copacabana

Fernando  Aportela (Banco de Mexico), Effects of Financial Access on Savings by Low-Income People

Andrea Repetto (Universidad de Chile), Hyperbolic Discounting, Wealth Accumulation, and Consumption (Joint with Marios Angeletos, David Laibson, Jeremy Tobacman and Stephen  Weinberg)
Fernando A. Veloso (IBMEC), Wealth Composition, Endogenous Fertility and the Dynamics of Income Inequality

Pablo Sanguinetti (UTDT), Intergenerational Altruism: Evidence from Argentina (Joint with Federico Sturzenegger)


09:00 – 10:15


Fifty Years of Development: Lessons and Challenges

Nicholas Stern (World Bank) 

Chair: Francisco Ferreira (Puc-Rio)

Room: Gávea A

The Carlos Diaz Alejandro Memorial Lecture

Arnold Harberger (UCLA)
Where do we go from here? Some challenges for the 21st century

Chair: Ilan Goldfajn (Puc-Rio and Banco Central do Brasil)

Room: Gávea B

10:15 - 10:45




10:45 – 12:15


Lending Booms and Exchange Rate crisis

 Chair: Guillermo Calvo
(University of Maryland)

Discussant: andrés velasco (harvard university)

Room: Gávea A

Abhijit Banerjee (MIT), Currency Crises and Monetary Policy: A Third Generation Approach (Joint with Philippe Aghion)

Pierre Olivier Gourinchas (Princeton University), Lending Booms: Some Stylized Facts (Joint with Rodrigo Valdés and Oscar Landerretche)

Peter  B. Henry (Stanford University), Do Stock Market Liberalizations Cause Investment Booms?


Poverty and Economic Insecurity: Lessons from the WDR 2001 and Other Studies

Chair: David de Ferranti
(World Bank)

 Room: Gávea B

Alan Gelb (World Bank), Can Africa Claim the 21st Century?

Nora Lustig (IADB), Attacking Poverty: The World Development Report 2000

Guillermo Perry (World Bank), Securing our Future in a Global Economy

Unemployment and Labor Market Policy in Brazil

Chair: Roberto Martins

Room: Leme

Beatriz  Azeredo (BNDES)

Ricardo Paes de Barros (IPEA)

José Márcio Camargo (PUC-Rio)

André Urani (Labor Secr., Rio de Janeiro)

12:15 - 13:30




13:30 - 15:00



Chair: Pedro Cavalcanti Ferreira

Room: Gávea A

Raymond Robertson (Macalester College), Can the Stolper-Samuelson Theorem Explain Relative Wage Movements? Evidence from Mexico

Juan M. Ruiz (Universidad Carlos III de Madrid), International Trade Policy Towards Domestic Monopolies and Domestic Oligopolies (Joint with Praveen Kujal)

Pedro Cavalcanti Ferreira (EPGE-FGV), Monopoly Power and Trade Protection: Cross-Industry Evidence

Growth in Emerging Markets

 Chair: James Robinson
(UC at Berkeley)

Room: Gávea B

Enrique R. Casares (UAM), Government Spending and Growth in a Small Open Economy with Nontradeable Goods

Esteban Jadresic (IMF), Chile’s Rapid Growth in the 1990s: Good Policies, Good Luck, or Political Change? (Joint with Roberto Zahler)
Arilton Teixeira (IBMEC), Explaining Over Time Difference in TFP Across Countries

James A. Robinson (UC at Berkeley), Colonial Origins of Comparative Development: an Empirical Investigation (Joint with D. Acemoglu and S. Johnson)

Dynamic Analysis of Household Decision Making

Chair: Ricardo paes de Barros

Room: Leme

Ricardo Paes de Barros (IPEA), Family Structure and Family Behaviour Over the Life Cycle in Brazil (Joint with D. Santos, D. Costa, H. Araújo, M. Fogel, S. Firpo, N. Menezes, P. Pichetti and R. Fernandes)

Marisa Bucheli (CINVE), A Dynamic Analysis of Household Decision Making in Latin America: the Case of Uruguay (Joint with Andrea Vigorito and Daniel Miles)

Miguel Szekely (IADB), A Dynamic Analysis of Household Decision Making (Joint with Orazio Attanasio)

Martín Valdivia (GRADE), Household Structure and Savings over the Life Cycle: A First Look at Evidence from Peruvian Cohorts (Joint with Jaime Saavedra)

Alejandro Villagomez (CINVE), A Dynamic Analysis of Household Decision Making: The Mexican Case (Joint with Andrés Zamudio)

Child Labor I 

Chair: Luis F. López-Calva
(El Colegio de Mexico)

Room: Vidigal A

Pierre-Emmanuel Couralet (DELTA), Child Labor and Economic Growth

Matthew Neidell (UCLA), Early Parental Time Investments in Children's Human Capital Development: Effects of Time in the First Year on Cognitive and Non-cognitive Outcomes

André Portela F. de Souza (Cornell University), Is there a Child Labor Trap? Inter-generational Persistence of Child Labor in Brazil (Joint with Patrick M. Emerson)

Luis F. López-Calva (El Colegio de Mexico), Capital Accumulation and Child Labor: Can Compulsory Schooling be Counterproductive? (Joint with Luis A. Rivas)

Capital Mobility and Financial Liberalization

Chair: Roberto SteineR
(Universidad de los Andes)

Room: Vidigal C

Francisco  Gallego (Banco Central de Chile), Capital Controls in Chile: Effective? Efficient? (Joint with Leonardo Hernández and Klaus Schmidt-Hebbel)

Darryl Mcleod (Fordham University), Capital Account Liberalization and Inflation in the 1990s (Joint with William Gruben)

Fabiana Rocha (USP), Capital Mobility in Developing Countries: Evidence from Panel Data

Roberto Steiner (Universidad de los Andes), Depositor Behavior and Market Discipline in Colombia (Joint with Adolfo Barajas and Fernando Montes-Negret)

Institutional Arrangements

 Chair: Mariano Tommasi
(Universidad de San Andrés)

Room: Corcovado

Rodrigo Fuentes (Universidad de Chile), Institutional Arrangements, Credit Market Development and Loan Repayment in Chile (Joint with Carlos Maquieira)

Nestor Gandelman (Universidad ORT and CERES), R&D Institutional Arrangements: Start up vs. Internal Lab? (Joint with Manfred Dix)

Marcelo Resende (UFRJ), Permanent Structural Changes in the Brazilian Economy and Long-Memory: A Stock Market Perspective (Joint with Nilson Teixeira)

Mariano Tommasi (Universidad de San Andrés), The Institutional Foundations of Public Policy: A Transactions Approach with Application to Argentina (Joint with Pablo Spiller)

Labor economics

Chair: Carmen Pagés

Room: Leblon A

Alvaro Forteza (Universidad de la Republica), Labor Market “Rigidity” and the Success of Economic Reforms across more than One Hundred Countries (Joint with Martín Rama)

Martín Rama (World Bank), Mandatory Severance Pay in Peru: An Assessment of its Coverage and Effects Using Panel Data (Joint with Donna MacIsaac)

Gonzalo Hernández Licona (ITAM), Reshaping the Labour Supply Curve for The Poor

Carmen Pagés (IADB), The Cost of Job Security Regulation: Evidence from Latin American Labor Markets (Joint with James Heckman)

The Economics of Health Care

Chair: Claudio Sapelli

 Room: Leblon B

Matilde Machado (Universidad Carlos III de Madrid), Measuring the Relative Performance of Providers of a Health Care Treatment (Joint with Daniel Ackerberg and Michael Riordan)

Humberto Moreira (PUC-Rio), Should we be Afraid of Managed Care? A Theoretical Assessment (Joint with Marcos Lisboa)

Claudio Sapelli (PUC-Chile), Chile: Effects of Old Age on Health Services Utilization and Consequences on System Design

Crime and Corruption

 Chair: Mônica Viegas Andrade

 Room: Lagoa

Rafael Di Tella (Harvard Business School), The Role of Wages and Auditing during a Crackdown on Corruption in the City of Buenos Aires (Joint with Ernesto Schargrodsky)

Mônica Viegas Andrade (CEDEPLAR), Hopeless Life: Homicide in Minas Gerais, Rio de Janeiro and São Paulo: from 1981 to 1997 (Joint with Marcos B. Lisboa)

Nicolas Garcette, Economic Shocks and the Dynamics of Crime (Joint with Carlos Winograd)

Econometric Theory and Evidence

 Chair: Francisco Cribari

Room: São Conrado

Guglielmo Maria Caporale (South Bank University), Estimator Choice and Fisher's Paradox: A Reevaluation of the  Evidence (Joint with Nikitas Pittis)

Rómulo A. Chumacero (Universidad de Chile), What do Forecasters Say? Should we Care?

Christophe Rault (Sorbonne), Exogeneity in VAR-ECM Models with Purely exogenous long-run paths with an Illustration to Mexico Real Exchange Rate Determination (Joint with Jacqueline Pradel)

Francisco Cribari Neto (UFPE), Heteroskedasticity Consistent Covariance Matrix Estimation: White's Estimator and Bootstrap (Joint with Spyros G. Zarkos)

Income Distribution Analysis

Chair: t.b.a.

Room: Copacabana

Judy Baker (World Bank), Characterizing Polarisation: an application to Income Distribution in Urban Uruguay (Joint with Luisa Corrado and Melvyn Weeks)

Leonardo Gasparini (Universidad de la Plata), A Characterization of Inequality Changes in Argentina through Microeconometric Decomposition (Mariana Marchionni and Walter Escudero Sosa)

Rodolfo Hoffman (UNICAMP/ESALQ), The Brazilian Income Distribution in 1999

15:15 - 16:45


a balance sheet perspective on exchange rate regimes

Chair: Guillermo Calvo
(University of Maryland)

 Discussant: Pablo Guidotti

Room: Gávea A

Ricardo Caballero (MIT), Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment (Joint with Arvind Krishnamurthy)

Ernesto Talvi (CERES-Uruguay), Devaluation or Deflation? Adjustment Under Liability Dollarization (Joint with Eduardo Férnandez-Arias)

Andrés Velasco (Harvard University), Balance Sheets and Exchange Rate Policy

Political Power, Income Distribution and Economic Growth

Chair and Discussant: François Bourguignon

 Room: Gávea B

Assaf Razin (Stanford University), The Aging Population and the Size of the Welfare State (Joint with Efraim Sadka and Phillip Swagel)

James Robinson (UC at Berkeley), The Political Economy of Clientelism (Joint with Thierry Verdier)

Kenneth L. Sokoloff (UCLA), Inequality, Institutions, and Paths of Development in the Americas (Joint with Stanley Engerman and Stephen Haber)

Contagion and Interdependence

Chair and Discussant: Eliana Cardoso (Eces–Egyptian Center for Economic Studies)

Room: Leme

Kristin Forbes (MIT), The Asian Flu and Russian Virus: Firm-Level Evidence on How Crises are Transmitted

Jeffrey Frankel (Harvard University), Estimating the Effect of Currency Unions on Trade and Output

Francesco Giavazzi (Bocconi University), Looking for Contagion: Evidence from the 1992 ERM Crisis

Financial Dollarization

Chair: Eduardo Levy Yeyati (Utdt)

 Room: Ipanema

Pablo Andrés Neumeyer (UTDT), Using Balance Sheet Data to Identify Sovereign Default and Devaluation Risk (Joint with Juan Pablo Nicolini)

Federico Sturzenegger (UTDT), Dollarization: The Link between Devaluation and Default Risk (Joint with Andrew Powell)

Eduardo Levy Yeyati (UTDT), Safety Nets and Endogenous Financial Dollarization (Joint with Christian Broda)

16:45 - 17:15




17:15 - 18:45


International Portfolio Diversification

 Chair: Luis Servén (World Bank) 

Room: Gávea A

Norman Loayza (World Bank), Country Portfolios (Joint with Aart Kraay, Luis Servén and Jaume Ventura)

Delfim Gomes Neto (DELTA/LSE), Capital Movements and the Political Economy of Trade Policy

Luis Servén (World Bank), What Happens when the Fed Tightens? Interest Rate Sensitivity and Currency Regime (Joint with Jeffrey Frankel and Sergio Schmukler)

Equity and Politics

Chair: Rafael di Tella
(Harvard Business School)

Room: gávea B

Federico Perali (Universitat degli Studi di Verona), Voting for Equity: Estimating Society's Preferences towards Inequality: An Application to Colombia (Joint with Jay S. Coggins)

Cecilia Testa (LSE), Bargaining, Voting and Lobby Power

Rafael Di Tella (Harvard Business School), Partisan Social Happiness (Joint with Robert MacCulloch)


Chair: Leonardo Hernández

 Room: Leme

Taimur  Baig (IMF), The Russian Default and the Contagion to Brazil (Joint with Ilan Goldfajn)

Luca Ricci (IMF), Trade and Financial Contagion in Currency Crises (Joint with Francesco Caramazza and Ranil Salgado)

Rodrigo Valdés (Min. of Finance, Chile), What Drives Contagion? Trade, Neighborhood and Financial Links

Leonardo Hernández (IMF), Private Capital Flows in the 1970s and 1990s: Is there any Evidence of Contagion? (Joint with Pamela  Mellado and Rodrigo Valdés)

Reaction to Shocks and Credit Constraints

Chair: Klaus Schmidt-Hebbel
(Banco Central de Chile)

Room: Ipanema

Luis Felipe Céspedes (NYU), Credit Constraints and Macroeconomic Instability in a Small Open Economy

Giovanni Majnoni (World Bank), Financial Development and Economic Volatility: Does Finance Dampen or Magnify Shocks? (Joint with Thorsten Beck, Gregorio Impavido and Mattias Lundberg)

Gino Olivares (PUC-Rio), The Effects of External Shocks in Latin America: An Efficient Estimation Approach

Klaus Schmidt-Hebbel (Banco Central de Chile), Policy Shifts and External Shocks in Chile under Rational Expectations (Joint with Luis Servén)

Capital Flows and its Effects

 Chair: Gian Maria Milesi-Ferreti

 Room: Vidigal A

Robin Brooks (IMF), Population Aging and Global Capital Flows in a Parallel Universe

Marcelo Catena (BCRA), Capital Flows, Debt and Liquidity: Assessing Capital Market Interventions to Mitigate Balance Sheet Channel Effects (Joint with Janice Murgio and Andrew Powell)

Eduardo Fernández-Arias (IADB), Is FDI a safer Form of Financing? (Joint with Ricardo Hausmann)

Gian Maria Milesi-Ferretti (IMF), The Transfer Problem Revisited: Net Foreign Assets and Real Exchange Rates (Joint with Philip R. Lane)

Economic Reform and Inequality

 Chair: Michael Walton
(World Bank) 

Room: Vidigal C

Nancy Birdsall (Carnegie Endownment for International Peace), Economic Reform and Wage Differentials in Latin America (Joint with Jere R. Behrman and Miguel Székely)

Gladys Lopez-Acevedo (World Bank), Earnings Inequality after Mexico's Economic Reforms

Pablo García Silva (Banco Central de Chile), Income Inequality and the Real Exchange Rate

Victor Hugo Herrera (Universidad de Panamá), Earnings Profiles and Return to Education in Panam
a  (Joint with Manuel Madrid-Aris)

Debt and Fiscal Sustainability

 Chair: Julio Santaella

Room: Corcovado

Andrés Masoller Ottieri (Banco Central de Uruguay), The Optimal Currency Composition of Uruguayan Public Debt (Joint with Gerardo Licandro Ferrando)

Evan Tanner (IMF), Fiscal Sustainability and Monetary versus Fiscal Dominance: Evidence from Brazil, 1991-2000 (Joint with Alberto M. Ramos)

David Yuravlivker (World Bank), Treasures or Time Bombs? Evaluating Government Net Worth in Colombia and Venezuela (Joint with William Easterly)

Julio A. Santaella (ITAM), The Sustainability of Fiscal Policy in Mexico, 2000-2025

Monetary Policy

 Chair: Beth Anne Wilson
(Federal Reserve Board)

 Room: Leblon A

Alberto Musalem Borrero (Tudor Investment Corporation), On the Long and Short of Central Bank Independence, Policy Coordination, and Economic Performance

Ajax Moreira (IPEA), Measuring the Stability of the Price System (Joint with Antonio Fiorêncio)

Beth Anne Wilson (Federal Reserve Board), Recent Improvements in US Macroeconomic Stability: Good Policy, Good Practices or Good Luck (Joint with Shaghil Ahmed and Andrew Levin)

Asset Prices and Imperfect Financial Markets

 Chair: Martín Gonzalez-Eiras
(Universidad de San Andrés) 

Room: Leblon B

Eva Cárceles Poveda (Universitat Pompeu Fabra), Asset Prices and Business Cycles Under Market Incompleteness

Octave Jokung (EDHEC), The Effects of Background Risk on Optimal Portfolios

Felipe Zurita (PUC-Chile), Liquidity as an Insurance Problem

Martín Gonzalez-Eiras (Universidad de San Andrés), Financial Innovation, Market Participation and Asset Prices (Joint with Laurent Calvet and Paolo Sodini)

Banking: Reserves, Runs and Crises

Chair: Alessandro Prati

Room: Lagoa

Mario Catalan (UCLA), Endogenous Bank Runs

Eduardo Jallath (Banco de Mexico), Optimal Bank Reserves under Deposits Uncertainty (Joint with Trida Mukhopafhyay and Amir Yaron)

Alessandro Prati (IMF), Banks' Reserve Management, Transaction Costs, and the Timing of Federal Reserve Intervention

Credit Information

 Chair: Margaret Miller
(World Bank)

  Room: São Conrado

Armando Castelar Pinheiro (BNDES), The Use of Credit Information in Brazil (Joint with Alkimar Moura)

Andrew Powell (Banco Central de Argentina), The Use of Credit Bureau Information in the Estimation of Appropriate Capital and Provisioning Requirements (Joint with Michael Falkenheim)

Margaret Miller (World Bank), Credit Reporting Systems Around the Globe: The State of the Art in Public and Private Credit Registries

Women and the Labor Market

Chair: alejandra mizala
(Universidad de chile)

Room: Copacabana

Wendy Cunningham (World Bank), Whose Double Shift?: Intra-Household Substitution of Home Labor over the Mexican Business Cycle (Joint with Raquel Artecona)

Kyle D. Kauffman (Wellesley College), Do Women Matter? Household Structure, Risk and Agrarian Contracts (Joint with Maristella Botticini)

Esteban  E. Puentes (Universidad de Chile), Is the Gender Wage Discrimination Decreasing in Chile? Thirty Years of  “Robust” Evidence (Joint with Dante Contreras)

Alejandra Mizala (Universidad de Chile), Female Labor Supply in Chile, (Joint with Pilar Romaguera and Paulo Henríquez)






09:00 - 10:30




Mercosur and Currency Areas

Chair: Marco Del Negro

Room: Gávea A

Maria Cecilia Gáname (Universidad Nacional de Córdoba), Endogenous Protection in Mercosul: An Empirical Analysis (Joint with Germán Calfat and Renato G. Flôres Jr.)

Paulo C. de Sá Porto (UNICAMP), Mercosur and Regional Development in Brazil: A Gravity Model Approach

Marco Del Negro (ITAM), Is North-America an Optimal Currency Area? Regional versus National Shocks in the United States, Canada and Mexico

Political Economy

 Chair: Peter Rosendorff
(University of Southern California)

Room: Gávea B

Bernardo Mueller (UnB), A Multiprincipal, Multitask Model of Interest Group Competition: An Application to Land Reform Politics in Brazil

Yulia Kossykh (Boston University), Predatory Behaviour of Pressure Groups in Democracies

Emanuel A. R. Ornelas (University of Wisconsin-Madison and PUC-MG), Politically Active Oligopolies and Preferential vs. Non-discriminatory Liberalization

Peter Rosendorff (University of Southern California), Why Democracies Cooperate More: Electoral Control and International Trade Agreements (Joint with Edward Mansfield and Helen Milner)

The Brazilian Labor Market

Chair: Reynaldo Fernandes

 Room: Leme

Jorge Saba Arbache (UnB), Rent-Sharing in Brazil: Using Trade Liberalization as a Natural Experiment (Joint with Naércio Menezes-Filho)

Dorte Verner (World Bank), Wage Determination in Pernambuco, Bahia, Ceará and the Northeast: an Application of Quantile Regressions

Reynaldo Fernandes (USP), Unemployment Insurance and  Transitions in the Labor Market: An Evaluation of Brazil's Program (Joint with José Paulo Zeetano Chahad)

Economia Panel

Room: Ipanema

By invitation only

Public Economics I 

Chair: Jiango Wang
(University of Singapore)

Room: Vidigal A

José Pineda (University of Maryland), An Interest Groups Theory of Human Capital Accumulation: Theory and Evidence (Joint with Francisco Rodríguez)

Claudio Santibanez (University of Cambridge), Objectively Valued Opportunities: Ranking Opportunity Sets from an Objective Approach

Andrei Sarychev (University of British Colombia), A New Theory of Neighborhood Sortings and Human Capital Inequality

Jianguo Wang (University of Singapore), Attitude Choice, Economic Change, and Welfare (Joint with Yew-Kwang Ng)

Inflation Tax and High Inflation

 Chair: Fernando de Holanda Barbosa (Epge-Fgv)

 Room: Vidigal C

Fernando Tohmé (CONICET), High Inflation and Processes of Evolutionary Self-Organization (Joint with Silvia London and Carlos Dabús)

Anne P. Villamil (University of Illinois), The Optimal Inflation Tax and Structural Reform (Joint with Tiago Cavalcanti)

Fernando de Holanda Barbosa (EPGE-FGV), Hyperinflation: Inflation Tax and the Policy Economic Regime

Adolescents and Young Adults in Latin America: Critical Decisions at a Critical Age

Chair: Suzanne Duryea

 Room: Corcovado

Josefina Bruni Celli (IESA), Adolescents and Young Adults in Latin America: Critical Decisions at a Critical Age (Joint with Richard Obuchi and  Miko Gonzalez)

Carlos Filgueira (CIESU), Critical Choices at a Critical Age: Youth Emancipation Paths and School Attainment in Latin America (Joint with Fernando Filgueira and Álvaro Fuentes)

Jairo Nuñez (Universidad de los Andes/CEDE), Teenage Childbearing in Latin American Countries (Joint with Carmen Elisa Florez)

Financial Integration with Different Money and Exchange Arrangements

Chair: Ismail ghazalah
(Ohio University)

Room: Leblon A

Myrvin L. Anthony (OMAM), Should Argentina Adopt Dollar? (Joint with Andrew Hughes Hallett)

Francisco Carrada-Bravo (Thunderbird), A Currency Board for Mexico?

George M. von Furstenberg (Fordham University), Estimating Temporary and Permanent Components of Currency Risk with an Extension of the Dornbusch Model

Alicia Girón (UNAM), Systemic Consequences of Financial Crises for Mexicos's Currency (Joint with Eugenia Correa)

Industrial Economics

Chair: Eduardo Fiuza

Room: Leblon B

Manrique Saenz (UCLA), Demand Estimation in the Context of Bundled Goods: an  Aplication to the Costa Rican Tourism Sector

Alvaro Solera (Banco Central de Costa Rica), Transmission of Oil Price Shocks with Regulated Domestic Fuel Prices: Evidence from Costa Rica (Joint with Alexander Hoffmaister, Ivannia Solano and Katia Vindas)

Eduardo Pedral S. Fiuza (IPEA), Automobile Demand and Supply in Brazil

Environmental Economics

 Chair: jose miguel sanchez (puc-chile)

Room: Lagoa

Mariana Conte Grand (CEMA), The Meaning of a Dynamic Target of Greenhouse Gases Emissions Reduction: the Case of Argentina (Joint with Vicente Barros)

Linwood Pendleton (University of Southern California), Market Integration, Development and Smallholder Forest Clearance (Joint with Lance Howe)

José Miguel Sanchez (PUC-Chile), A Market-Based Environmental Policy Experiment in Chile (Joint with Juan-Pablo Montero and Ricardo Katz)

Time Series Econometrics

Chair: Marcelo Fernandes
(European University Institute)

Room: São Conrado

Richard Luger (Bank of Canada), Exact Nonparametric Tests for a Random Walk with Unknown Drift under Conditional Heteroskedasticity

Gabriel Rodríguez (University of Ottawa), Searching for Additive Outliers in Nonstationary Time Series (Joint with Pierre Perron)

Marcelo Fernandes (European University Institute), Non-parametric Specification Tests for Conditional Duration Models (Joint with Joachim Grammig)

10:30 - 11:00




11:00 – 12:30


New Developments in Monetary Policy Design

Chair: Eduardo Loyo
(Harvard University)

Room: Gávea A

Jeffery D. Amato (BIS), Rule-of-Thumb Behavior and Monetary Policy (Joint with Thomas Laubach)

Marc Giannoni (Federal Reserve Bank of New York), Does Model Uncertainty Justify Caution? Robust Optimal Monetary Policy in a Forward Looking Model

Volker Wieland (Federal Reserve Board, Washington), Evaluating Forecast-Based Monetary Policy Strategies

External Debt Management 

Chair: Darryl McLeod
(Fordham University)

Room: Gávea B

Walter Molano (BCP)

John Welch (Barclays Bank)

Paulo Vieira da Cunha (Lehman Brothers)

Poverty, Inequality and Policies to Combat Them

 Chair: t.b.a.

Room: leme

David Coady (International Food Policy Research Institute), A Cost-Benefit Analysis of Cash Transfers Within a General Equilibrium Framework: Simulations Based on Mexico's PROGRESA Cash Transfers (Joint with Rebecca Lee Harris)
 Lykke E. Andersen (Universidad Católica de Bolívia), Micro-Credit and Group Lending: The Collateral Effect (Joint with Osvaldo Nina)

Miguel Szekely (IADB), What's behind the Inequality We Measure: An Investigation Using Latin America Data (Joint with Marianne Hilgert)

Peter Lanjouw (World Bank), A New Poverty Profile for Brazil Using PPV, PNAD and Census Data (Joint with Francisco H. G. Ferreira and Marcelo Cortes Neri)

Economia Panel

Room: Ipanema

By Invitation only

Dealing with Economic Insecurity

Chair: Norman Hicks
(World Bank)

Room: Vidigal A

Wendy Cunningham (World Bank), Measuring Vulnerability: Who Suffered in the 1995 Mexican Crisis? (Joint with William Maloney)

Mark R. Thomas (World Bank), Household Educational Responses to Labor-Market Shocks in Brazil, 1982-99 (Joint with Marcelo Cortes Neri)

Alvaro Trigueros (Universidad José Siméon Cañas), Land and Labor Adjustment Strategies during an Economic Downturn in Rural El Salvador  (Joint with Pedro Olinto and Jonathan Conning)

 Norman Hicks (World Bank), Are Governments Pro-Poor but Short-Sighted? Targeted and Social Spendiang for the Poor During Booms and Busts (Joint with Quentin T. Wodon, Bernadette Ryan and Gabriel Gonzalez)

Child Labor II

Chair: Susan Parker

Room: Vidigal C

Suzanne Duryea (IADB), Effects of Economic Shocks on Children's Employment in Brazil (Joint with David Lam and Deborah Levison)

Marcelo Neri (IBRE/FGV), Microeconomic Instability and Children’s Human Capital Accumulation: The Effects of Idiosyncratic Shocks to Father’s Income on Child Labor, School Drop-outs and Repetition Rates in Brazil (Joint with M. Neri, G. Sedlacek, D. Costa and A. Pinto, Emily Gustafsson-Wright)

Susan Parker (IFPRI), Job Loss, Change in Marital Status and the Allocation of Time within Families: Evidence from Urban Mexico (Joint with Emmanuel Skoufias)

Output Fluctuations in Emerging Markets


Chair: alejandro d. jacobo (universidad nacional de córdoba)


Room: Corcovado

José Wynne (UCLA), Business Cycles and Firm Dynamics in Small Emerging Economies

Gaston Gelos (IMF), Output Response during Currency Crises (Joint with Poonam Gupta and Ratna Sahay)

Alejandro D. Jacobo (Universidad Nacional de Córdoba), Taking the Business Cycle's Pulse to Some Latin American Economies: Is there a Rhythmical Beat?

Information in Institutions

Chair: Ramon Fauli-Oller

(Universidad de Alicante)

Room: Leblon A

Michela Cella (LSE), Monitoring of Delegated Contracting
Valentino Larcinese (LSE), Information Acquisition and Electoral Turnout: Theory and Evidence from Britain

Ramon Fauli-Oller (Universidad de Alicante), Delegation and Polarization in a Model of Political Competition (Joint with Ok Efe and Ignacio Ortuño-Ortín)

Privatization and Regulation

Chair: D. Leipziger
(World Bank)

Room: Leblon B

Eduardo Saavedra (ILADES-Georgetown University, Universidad Alberto Hurtado), Alternative Institutional Arrangements in Network Utilities: An Incomplete Contracting Approach

Jan Svejnar (University of Pittsburgh), Priorities and Sequencing in Privatization: Theory and Evidence from the Czech Republic (Joint with Nandini Gupta and John C. Ham)

Tax Policy and Deficits

Chair: Maurício Bugarin

Room: Lagoa

Sara Bertin-Levecq (NYU), Determinants of Fiscal Volatility: An Empirical Investigation of Latin American and Industrialized Countries
Derek Hung Chiat Chen (UC at Davis), Negative Bequest Motives, Tax-Smoothing and the Budget Deficit

Maurício S. Bugarin (UnB), Deficit Targeting: Mechanism Design and the Control of Sub-National Governments' Fiscal Deficits (Joint with Henrique A. Pires)

Public Economics II

Chair: Todd Sandler (University of Southern California)

Room: São Conrado

Daniel G. M. Arce (University of Alabama), The Evolution of Heterogeneity in Biodiversity and Environmental Regimes

Christopher Ellis (University of Oregon), A Mechanism for Inducing Cooperation in Non-Cooperative Environments: Theory and Applications (Joint with Anne van den Nouweland)

Emilson C. D. Silva (Tulane University), How Effective and Efficient Can the Kyoto Protocol Be in Controlling Global Carbon Emissions? (Joint with Richard Cornes and Arthur Caplan)

Todd Sandler (University of Southern California), Economics of Alliances: The Lessons for Collective Action (Joint with Keith Hartley)

12:30 - 13:45




13:45 – 15:30


Debt and Business Cycles

Chair: Rogério Werneck

Room: Gávea A

Fabio Canova (Universitat Pompeu Fabra), Monetary Disturbances Matter for Business Fluctuations in the G-7 (Joint with Gianni de Nicoló)

Jonathan Eaton (Boston University), The Dynamics of Sovereign Debt: Smoothing and Impatience (Joint with Kenneth Kletzer)

Juan Pablo Nicolini (UTDT), Optimal Maturity of Government Debt with Incomplete Markets (Joint with Francisco Buera)

Market Design 

Chair: Flávio Menezes

Room: Gávea B

Timothy Cason (Purdue University), Bargaining versus Posted Price Competition in Customer Markets (Joint with Daniel Friedman and Garrett H. Milam)

Richard Engelbrecht-Wiggans (Illinois University), Low Revenue Equilibria in Simultaneous Ascending Price Auctions (Joint with Charles Kahn)
Jeroen Swinkels (Washington University)

New Directions in Distributional Analysis

 Chair: Peter Lanjouw
(World Bank)

Room: Leme

Andrew Chesher (UCL), Individual Allocations from Household Aggregates: Variations in the Nutrient Composition of Diet in Indonesia

Chris Elbers (VU-Amsterdam), Welfare in Villages and Towns: Micro-Level Estimation of Poverty and Inequality (Joint with Jean O. Lanjouw and  Peter Lanjouw)

Martin Ravallion (World Bank), Are the Poor Protected from Budget Cuts: Theory and Evidence from Argentina

Infrastructure Concessions: The Importance of Design

Chair: Eduardo Engel
(Universidad de Chile)
Room: Copacabana

J. L. Guash (World Bank), Concessions: Boom or Bust? Determinants of Failure and Success: An Empirical Study of a Decade of Experience

Ronald Fischer (Universidad de Chile), Franchising an Essential Facility à La Demsetz When Underhand Agreements are Possible (Joint with Eduardo Engel and Alexander Galetovic)

Eduardo Engel (Universidad de Chile), Competition for Public Service Franchises and Real-Estate Values (Joint with Ronald Fischer and Alexander Galetovic)

15:30 - 17:00


Creating Monetary Stability in Latin America

 Rudiger Dornbusch (MIT) 

Chair: Armínio Fraga (Banco Central do Brasil)

Room: Gávea A

Contract Theory and Development Economics

Abhijit Banerjee (MIT)

Chair: Marcelo de Paiva Abreu (Puc-Rio)

Room: Gávea B