WCWIF

• 8:30–9:00 Coffee and Rolls

Geopolitics, Fragmentation, and Global Capital Allocation

Chair: Chris Meissner (UC Davis)

• 9:00–9:45
  “U.S. Military Protection, Allies’ Portfolios, and Exorbitant Privilege,” Paolo Cavallino (BIS), Daniel Jimenez (Louvain), Alessandro Rebucci (JHU).

  Discussant: Colin Weiss (Fed Board)

• 9:45–10:30
  “Breaking Up: Fragmentation in Foreign Direct Investment,” Cody Kallen (Fed Board).

  Discussant: Grace Gu (UCSC)

• 10:30–10:45 Break

Incomplete Markets, Mobility, and Wealth

Chair: Galina Hale (UC Santa Cruz)

• 10:45–11:30
  “Misallocation due to Incomplete Markets,” David Baqaee (UCLA), Ariel Burstein (UCLA).

  Discussant: Minjie Deng (SFU)

• 11:30–12:15
  “The Geography of Wealth: Shocks, Mobility, and Precautionary Savings,” Maximiliano Dvorkin (St. Louis Fed), Brian Greaney (UW).

  Discussant: Jordan Rosenthal-Kay (FRBSF)

• 12:15–1:45 Lunch

Globalization and Cross-Border Flows

Chair: Paul Bergin (UC Davis)

• 1:45–2:30
  “Globalization Accounting,” Sterre Kuipers (UH), Hyunju Lee (UH), Radek Paluszynski (UH).

  Discussant: Chenyue Hu (UCSC)

• 2:30–3:15
  “Multinationals and Uncertainty: The Role of Internal Capital Markets,” Jianlin Wang (SCU).

  Discussant: Zheng Liu (FRBSF)

• 3:15–3:30 Break

Global Credit Conditions and Monetary Transmission

Chair: Wentong Chen (SCU)

• 3:30–4:15
  “The Global Credit Cycle,” Nina Boyarchenko (FRBNY), Leonardo Elias (FRBNY).

  Discussant: Saroj Bhattarai (UT Austin)

• 4:15–5:00
  “A Model of U.S. Monetary Policy and the Global Financial Cycle,” Rohan Kekre (UC Berkeley Haas), Moritz Lenel (Princeton).

  Discussant: Emile Marin (UCD)

• 5:00–7:30 Reception and Dinner