XVIII Annual Conference of the Central Bank of Chile Commodity Prices and Macroeconomic Policy

Thursday, October 23rd, 2014

Grand Hyatt Hotel, Santiago, Chile

All sessions will be conducted in English. Simultaneous interpretation between English and Spanish will be provided.

Opening remarks
Opening remarks

Rodrigo Vergara

Governor, Central Bank of Chile

Session I: Short-Run Challenges: The Role of Monetary and Fiscal Policy
Commodity Price Fluctuations and Monetary Policy in Small Open Economies

Roberto Chang –

Professor of Economics, Rutgers University


Andrés Fernández

Inter-American Development Bank

Liquidity and Foreign Asset Management Challenges for LATAM Countries

Joshua Aizenman

Professor of Economics, University of Southern California


Martin Bodenstein

National University of Singapore

Session II: Medium- and Long-Term Implications
Dutch Disease and Monetary Policy

Juan Pablo Nicolini

Professor of Economics, Universidad Torcuato Di Tella and Minnesota FED


César Calderón

World Bank

Keynote address
Keynote address

Jeffrey Frankel

Professor of Economics, Harvard University

Terms of Trade Shocks and Investment in Commodity-Exporting Economies

Jorge Fornero

Senior Economist, Central Bank of Chile


Alfonso Irarrázabal

Norges Bank

Spend, Baby, Spend: Windfalls, Specialization and Misallocation

Radoslaw Stefanski

Assistant Professor , University of St Andrews


Kim Ruhl

New York University

The Three Policy Clocks for Natural Resource Management

Paul Collier

Professor of Economics, Oxford University


Rodrigo Caputo

Central Bank of Chile