Sovereign Debt and Default, September 20-21, 2012
Sveriges Riksbank, Stockholm, Sweden
Wednesday, September 19
18:00-19:30 Welcome drink at Sveriges Riksbank
Thursday, September 20
9:00 Registration and coffee
9:20 Opening address
Session I:
Chair: Ferre De Graeve
9:30 Sovereign Defaults and Optimal Reserves Management
Javier Bianchi*, Juan Carlos Hatchondo and Leonardo Martinez
Discussant: Laura Alfaro
10:30 Domestic Sovereign Default as Optimal Redistributive Policy
Pablo D'Erasmo* and Enrique Mendoza
Discussant: Alberto Martin
11:30 Coffee
12:00 Self-fulfilling Debt Crises in and out of a Monetary Union
Mark Aguiar, Manuel Amador*, Gita Gopinath and Emmanuel Farhi
Discussant: Klaus Adam
13:00 Lunch
Session II:
Chair: Tobias Broer
14:15 Sovereign Risk and Financial Risk
Simon Gilchrist*, Vivien Yue and Egon Zakrajsek
Discussant: Nicola Borri
15:15 Financial Sector Linkages and the Dynamics of Bank and Sovereign Credit Spreads
René Kallestrup, David Lando* and Agatha Murgoci
Discussant: Jean-Stéphane Mésonnier
16:15 Coffee
16:30 Linkages across Sovereign Debt Markets
Cristina Arellano* and Yan Bai
Discussant: Dirk Niepelt
17:30 Adjourn
19:00 Dinner at Sjöfartshuset
Friday, September 21
8:45 Coffee
Session III:
Chair: Roberto Billi
9:00 Debt Dilution and Seniority in a Model of Defaultable Sovereign Debt
Satyajit Chatterjee* and Burcu Eyigungor
Discussant: Xavier Ragot
10:00 In for a Penny, In for a 100 Billion Pounds: Quantifying the Welfare Benefits from Debt Forgiveness
Daniel Dias, Christine Richmond and Mark Wright*
Discussant: Ananth Ramanarayanan
11:00 Coffee
Session IV:
Chair: Per Krusell
11:30 Sovereign Defaults: The Price of Haircuts
Juan Cruces* and Cristoph Trebesch
Discussant: Sweder van Wijnbergen
12:30 Sovereign Risk Premia
Nicola Borri* and and Adrian Verdelhan
Discussant: Patrick Augustin
13:30 Lunch and Adjourn
Time allocation
Presentation: 35 minutes
Discussant: 15 minutes
Open discussion: 10 minutes
Organizing committee
Roberto Billi, Sveriges Riksbank
Tobias Broer, IIES
Ferre De Graeve, Sveriges Riksbank
Martin Flodén, Stockholm University
Tor Jacobson, Sveriges Riksbank
Per Krusell, IIES
Jonas Söderberg, Sveriges Riksbank
Local organization
Lena Löfgren, Sveriges Riksbank
