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Second Annual International Banking Conference

The Asian Financial Crisis: Origins, Implications and Solutions

This conference was cosponsored by the International Monetary Fund and the Federal Reserve Bank of Chicago.

Thursday, 10/08/98
8:00 AM
Welcoming Remarks
Michael H. Moskow, Federal Reserve Bank of Chicago
9:00 AM
Session 1: Origins of the Asian Crisis
Gregory F. Taylor, International Monetary Fund
Craig Burnside, Hoover Institution
Martin Eichenbaum, Northwestern University and Federal Reserve Bank of Chicago
Sergio Rebelo, Northwestern University
Michael P. Dooley, University of California, Santa Cruz
Reuven Glick, Federal Reserve Bank of San Francisco
Roberto Chang, Federal Reserve Bank of Atlanta
David D. Hale, Zurich Group
1:00 PM
Roundtable 1: Causes and Implications of the Asian Crisis—The Role of the Financial Sector, Domestic Policies and Contagion
Jack B. Evans, Hall-Perrine Foundation
Joseph R. Bisignano, Bank for International Settlements
J. Soedradjad Djiwandono, formerly Bank of Indonesia
William C. Hunter, Federal Reserve Bank of Chicago
Desmond Lachman, Salomon Smith Barney
Flemming Larsen, International Monetary Fund
Kazuo Ueda, Bank of Japan
Chaiyawat Wilbulswasdi, formerly Bank of Thailand
6:00 PM
Dinner Program
Robert J. Darnall, Chairman, President and Chief Executive Officer, Inland Steel Industries, Inc.
Karin Lissakers, Executive Director, International Monetary Fund
Friday, 10/09/98
8:00 AM
Session 2: Response to the Crisis—Overview and Case Studies
Danny Leipziger, World Bank
Bijan B. Aghevli, International Monetary Fund
Stijn Claessens, World Bank
Stijn Claessens, World Bank
Richard J. Herring, University of Pennsylvania
Yung Chul Park, Korea Institute of Finance
Robert Townsend, University of Chicago and Federal Reserve Bank of Chicago
10:00 AM
Session 3: Containing the Risks of Future Crisis—Strengthening the Regulatory Framework
Verne G. Istock, First Chicago NBD
Allan H. Meltzer, Carnegie Mellon University
Tom de Swann, ABN AMRO Bank, N.V.
George J. Benston, Emory University
Anil K. Kashyap, University of Chicago and Federal Reserve Bank of Chicago
Carl-Johan Lindgren, International Monetary Fund
12:00 PM
Luncheon Program
Lester H. McKeever, Jr., Washington, Pittman and McKeever and Director, Federal Reserve Bank of Chicago
Robert A. Johnson, formerly Moore Capital Management
1:00 PM
Session 4: Early Warning Indicators, Transparency and Market Response
Zhang Zhixiang, International Monetary Fund
Jerome S. Fons, Moody's Investors Service
Morris Goldstein, Institute for International Economics
Graciela L. Kaminsky, George Washington University
John A. Wing, Illinois Institute of Technology and ABN AMRO
Martin Mayer, Brookings Institution
Catherine Pattillo, International Monetary Fund
Eric Rosengren, Federal Reserve Bank of Boston
3:00 PM
Roundtable 2: Moral Hazard and the Role of International Rescue Programs
Norman R. Bobins, LaSalle National Bank
Charles W. Calomiris, Columbia University
Charles H. Dallara, Institute of International Finance
John Lipsky, Chase Manhattan Bank
Michael Mussa, International Monetary Fund
Pedro Pou, Central Bank of Argentina—presented by José A. Costa, International Monetary Fund
Helmut Schieber, Deutsche Bundesbank
6:00 PM
Dinner Program
Michael H. Moskow, President and Chief Executive Officer, Federal Reserve Bank of Chicago
Stanley Fischer, First Deputy Managing Director, International Monetary Fund
Saturday, 10/10/98
8:00 AM
Session 5: The Future Role of the International Monetary Fund in International Rescue Operations
David Marshall, Federal Reserve Bank of Chicago
Barry Eichengreen, University of California, Berkeley
Robert Litan, Brookings Institute
Charles A. E. Goodhart, London School of Economics and Bank of England
Randall S. Kroszner, University of Chicago and Federal Reserve Bank of Chicago
Anna J. Schwartz, National Bureau of Economic Research
10:00 AM
Roundtable 3: Lessons from the Crisis for the International Financial System
Raghuram Rajan, University of Chicago
Manuel Guitian, International Monetary Fund
Everardo Elizondo, Banco de México
Richard Portes, London Business School and Center for Economic Policy Research
Edwin M. Truman, Board of Governors of the Federal Reserve System
Delano Villanueva, South East Asian Central Banks
Yukio Yoshimura, International Monetary Fund
12:00 PM
Conference Summary
George G. Kaufman, Loyola University Chicago and Federal Reserve Bank of Chicago
Michael H. Moskow, Federal Reserve Bank of Chicago
Event Information
Event Contact
Blanca Sepulveda
(312) 322-8340
10/08/98  - 10/10/98

Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, Illinois 60604-1413

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