Macro Economy

The Global Monetary and Financial System and its Governance

Program Overview

Macro Economy Research Conference
11-12 November 2008
Hotel Okura Tokyo

Program

Opening Remarks
Junichi Ujiie, Tokyo Club Foundation for Global Studies and Nomura Holdings
Session 1: International Currencies and the Global Monetary System
Moderator:Paola Subacchi, Chatham House

Dollar Dominance, Euro Aspirations: Recipe for Discord?
Benjamin Cohen, University of California, Santa Barbara
Comments: Klaus Regling, Economics and Finance Directorate, European Commission

International Role of the Euro
Richard Portes, London Business School & CEPR
Comments: Edwin Truman, Peterson Institute for International Economics

The Role of Asian Currencies in the International Monetary System
Masahiro Kawai, Asian Development Bank Institute
Comments: Barry Eichengreen, University of California, Berkeley

Lunch Presentation: U.S. Economy in the Aftermath of the Financial Crisis
Barry Bosworth, Brookings Institution
Session 2: Monetary and Financial Relations in Asia
Moderator: Takatoshi Ito, University of Tokyo

A Realistic Vision of Asian Economic Integration
Wing-Thye Woo, Brookings Institution
Comments: C-H Kwan, Nomura Institute for Capital Markets Research
Comments: WU Qing, Development Research Center of the State Council

Exchange Rate Cooperation in East Asia: A European View and a Simple Solution
Charles Wyplosz, Graduate Institute, Geneva
Comments: Klaus Regling, Economics and Finance Directorate, European Commission

China's Financial Integration with Asia
GAO Haihong, Institute of World Economics and Politics, Chinese Academy of Social Sciences

Japanese Retail Investment in Overseas Securities and FX Margin Trades
Yunosuke Ikeda, Financial and Economic Research Center, Nomura Securities

Comments: Eiichi Sekine, Nomura Institute of Capital Markets Research

Session 3: Governance of the Global Financial and Monetary System
Moderator:Barry Bosworth, Brookings Institution

Reforming the International Financial Architecture: The View from Emerging Markets
Barry Eichengreen, University of California, Berkeley
Comments: Chalongphob Sussangkarn, Thailand Development Research Institute

Is the IMF Worth Funding?
Edwin Truman, Peterson Institute for International Economics
Comments: Benjamin Cohen, University of California, Santa Barbara

The Future of the IMF and of Regional Cooperation in East Asia
Yung Chul Park, Korea University
Comments: Richard Portes, London Business School & CEPR

Closing Remarks
Junichi Ujiie, Tokyo Club Foundation for Global Studies and Nomura Holdings