BdF - REGULATION IN THE FACE OF GLOBAL IMBALANCES

International Symposium
REGULATION IN THE FACE OF GLOBAL IMBALANCES
MARCH 2011

SPEECH

SESSION 1 WHAT IMBALANCES AFTER THE CRISIS? 21
Chairperson: Axel WEBER, President, Deutsche Bundesbank 23
Speakers: Franklin ALLEN, Professor, Wharton School, University of Pennsylvania 25
Jacob A. FRENKEL, Chairman, Group of Thirty, Chairman, JPMorgan Chase Intl. 32
Pierre-Olivier GOURINCHAS, Professor, University of California, Berkeley 36
Kenneth ROGOFF, Professor, Harvard University 41
Nouriel ROUBINI, Professor, Stern School of Business, New York University 44

SESSION 2 THE CHALLENGES OF SURVEILLANCE AND COORDINATION 49
Chairperson: Mario DRAGHI, Governor, Banca d’Italia, Chairman, Financial Stability Board 51
Speakers: Lorenzo BINI SMAGHI, Member of the Executive Board, European Central Bank 54
Olivier BLANCHARD, Economic Counsellor, International Monetary Fund 63
Choongsoo KIM, Governor, Bank of Korea 66
Olli REHN, Member of the European Commission for Economic and Monetary Affairs 70

SESSION 3 THE ROLE OF CENTRAL BANKS: LESSONS FROM THE CRISIS 73
Chairperson: Michel CAMDESSUS, Managing Director, International Monetary Fund (1987-2000) 75
Speakers: Charles A. E. GOODHART, Professor Emeritus, London School of Economics 77
José DE GREGORIO, Governor, Central Bank of Chile 80
Olivier JEANNE, Professor, Johns Hopkins University, Baltimore 86
Jean-Pierre LANDAU, Deputy Governor, Banque de France 93
Athanasios ORPHANIDES, Governor, Central Bank of Cyprus 95

SESSION 4 TOWARDS WHICH INTERNATIONAL MONETARY SYSTEM? (ROUND TABLE) 99
Moderator: Martin WOLF, Associate Editor and Chief Economics Commentator, Financial Times 101
Panellists: HU Xiaolian, Deputy Governor, People’s Bank of China 102
Christine LAGARDE, Minister of the Economy, Finance and Industry, France 104
Jacques de LAROSIÈRE, Advisor, BNP Paribas 107
Kiyohiko G. NISHIMURA, Deputy Governor, Bank of Japan 109
Janet YELLEN, Vice Chair of the Board of Governors, Federal Reserve System 111

CONCLUDING REMARKS
William R. WHITE, Chairman, Economic and Development Review Committee, OECD

Source: http://finance.wharton.upenn.edu/~allenf/download/Vita/COLL2011_GB_vf.pdf