Thursday, November 15

8:00 p.m. Welcoming Reception – Holiday Inn Select-University Center

Friday, November 16

8:15 a.m. Bus from Holiday Inn to CMU/GSIA-Posner Hall

8:30 a.m. Breakfast

9:00 a.m. Conference Session I: GSIA – Posner Hall – Room 151

· Authors: Richard Clarida, Jordi Gali, and Mark Gertler Discussant: Edward Nelson

· Authors: Michael Devereux and Charles Engel Discussant: Alan Stockman

Title: Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect

12:00 p.m. Lunch – GSIA Grand Room – 3^rd floor Posner Hall

1:30 p.m. Conference Session II: GSIA – Posner Hall – Room 151

· Authors: Frank Smets and Raf Wouters Discussant: Dale Henderson

Title: Monetary policy in an open economy: an application to the Euro area

· Author: Robert Kollmann Discussant:Andrew Levin

Title: Monetary policy rules in the open economy: Effects on welfare and business cycles

5:00 p.m. Bus from GSIA to Holiday Inn

7:30 p.m. Dinner at The University Club

8:15 a.m. Bus from Holiday Inn to CMU/GSIA-Posner Hall

8:30 a.m. Breakfast

9:00 a.m. Conference Session III: GSIA – Posner Hall – Room 151

Chairman: Stanley Zin

· Authors: Martin Evans andRichard Lyons Discussant: Robert Hodrick

Title: Time-varying liquidity in foreign exchange

· Authors: Michele Cavallo and Fabio Ghironi Discussant: Philip Lane

Title: Net foreign assets and the exchange rate: Redux revived