Joint Organisers: China Center for Economic Research, Peking University
and Australia-Japan Research Centre, ANU
Sunday, 24 March
Opening Remarks Haruhiko Kuroda, Peter Drysdale
Chair: Haruhiko Kuroda
1. Policy Dialogue in East Asia
The paper appraises the benefits of different policy dialogues in the region, including the ASEAN+3, Manila Framework, Four Markets Group, APEC Finance Ministers, and EMEAP meetings.
Presenter: Stephen Grenville
Discussant: Miranda Goeltem (BI)
2. Financial Reform in China
The paper assesses the scope and interaction of liberalising the capital account and the domestic financial sector in China.
Presenter: Xie Ping (People''s Bank of China)
Discussant: Mari Pangestu (ANU/CSIS)
Issues relating to common currency arrangements
3. The Measurement of Real Exchange Rates
Measuring real effective exchange rates in East Asia: what is real and what is effective? How do different price indices affect estimated real exchange rates? And how do different weights - based on merchandise trade, services trade, total trade, trade elasticities, capital flows, currency denomination, competition in third markets - affect estimated effective exchange rates? Which is the right measure?
Presenter: Menzie Chinn (UCSC)
Discussant: Suiwah Leung (ANU)
Chair: Gordon de Browuer
4. Panel on Exchange Rate Pass-Through
How do exchange rate movements pass-through to export prices, import prices, and inflation in East Asia? Are there are differences between sectors, export/import destinations, and currencies? Are there asymmetries in the process and differences between countries?
Presenter: Robert Dekle (UCSC)
Presenter: Yuri Sasaki (Meiji Gakuin)
Presenter: Lijian Sun (Fudan University)
Discussant: David Gruen (RBA)
5. The political economy of common currency arrangements.
Michael Mussa has observed that the main driving force common currency arrangements is politics. What are the political, economic and social forces driving the debate on common currency arrangements in East Asia? What are the likely forces in the future?
Discussant: Mario Lamberte (PIDS)
Monday, 25 March
Chair: Justin Yifu Lin
6. Cooperative and Non-Cooperative Solutions in East Asia
The paper uses the G-Cubed model to examine the output outcomes, stabilisation and welfare properties that arise from different cooperative and non-cooperative exchange rate arrangements in East Asia.
Presenter: Warwick McKibbin (ANU)
Discussant: Eiji Ogawa (Hitotsubashi University)
7. Stocktake of Institutions for Regional Cooperation
This paper sets out and critically assesses various institutions that have been established in Europe, the Middle East, Latin America and North America to support and promote regional financial cooperation.
Presenter: Takatoshi Ito (Hitotsubashi University) and Koji Narita (MoF)
Discussant: Kishen Rajan (University of Adelaide)
8. Relationship Between First and Second Round Financing Tiers
The paper assesses the relationship between financing tiers, looking at issues such as what should be the composition of first and later rounds of financing, the scope for differing criteria and instruments between rounds, who should contribute to each round, and what are the interactions between rounds. Should they differ between regions and countries?
Presenter: Martin Parkinson (Treasury)
Chair: Masahiro Kawai
9. Conceptual Analysis of Financial Cooperation
There is a growing literature on dynamic games in international financial cooperation. What does this literature say that can inform the debate about financial cooperation in East Asia and the role of the IMF?
Presenter: Prasanna Gai (ANU)
Discussant: Koichi Hamada (EPA)
10. Panel Discussion: Asian Solutions to Asian Problems?
Panel: Yifu Lin, Xie Ping, Stephen Grenville, Takatoshi Ito
* Working Language: English
Not open to Media.