June 10-12 1999: Gerzensee Switzerland

Updated: June 29, 1999

Sponsored by the Clausen Center for International Business and Policy and

the Studienzentrum Gerzensee, Switzerland.

Organizers: Philippe Bacchetta (Gerzensee), Andrew Rose (U.C. Berkeley), and Eric van Wincoop (FRBNY).

Theme: National economies across the globe are becoming more integrated as barriers to trade, capital flows, migration and technology dissemination are falling. Intranational economics can provide valuable insights about where this process might lead us, since barriers are much weaker across regions within a country. They may also tell us something about the limitations of economic integration. For example, to the extent that we observe a home-bias in equity portfolios even within a country, it is an indication that important barriers are relevant even at the intranational level.

Appropriate topics for this conference are both macroeconomic and trade-related. They include: business cycles, growth, capital flows, risk-sharing, monetary union, home bias in portfolios, home bias in trade, industrial specialization (geography and trade), relative prices, diffusion of technological knowledge.

Publication: The Journal of International Economics will consider publishing a special issue with a selection of the papers presented at the conference, after a standard refereeing process.

John Helliwell wrote a short note which was inspired by the papers and discussion at the conference; a draft is available as a PDF file.

Program and Participants: The program and participant list is available as a PDF file.

1. Laura Botazzi and Giovanni Peri "Innovation, Demand and Knowledge Spillovers: Theory and Evidence from European Regions" Available as a PDF file.

Discussants: David Weinstein, Philippe Martin

2. Donald Davis and David Weinstein "Does Tokyo Matter? Increasing Returns and Regional Specialization" Available as a PDF file.

Discussants: Gianmarco Ottaviano, Ian Wooton

3. Charles Engel and John Rogers "The Welfare Costs of Deviations from the Law of One Price: An Empirical Investigation" Available as a PDF file.

Discussants: Helene Rey, Harald Hau,

4. Antonio Fatas and Ilian Mihov "Government Size and Automatic Stabilizers" Available as a PDF file.

Discussants: Robert Kollmann, Axel Weber

5. Gregory Hess and Kwanho Shin "Risk Sharing of Macroeconomic and Idiosyncratic Shocks" Available as a PDF file.

Discussants: Fabio Canova, Michael Klein

6. Sebnem Kalemi-Ozcan, Bent Sorensen, and Oved Yosha "Risk-Sharing and Specialization: Regional and International Evidence" Available as a PDF file.

Discussants: Harris Dellas, Greg Hess

7. David Parsley and Shang-Jin Wei "Border, Border, Wide and Far, How We Wonder What You Are" Available as a PDF file.

Discussants: John Rogers, Mario Crucini

8. Todd Clark and Eric van Wincoop "Borders and Business Cycles" Available as a PDF file.

Discussants: Antonio Fatas, Lucrezia Reichlin

9. Holger Wolf "(Why) Do Prices Differ Across US Cities?" Available as a PDF file.

• 90 minutes long
• 30 minute presentation by author(s); 15 minutes for each discussant; 30 minutes general discussion

• Philippe Bacchetta, Studienzentrum Gerzensee

• Andrew K. Rose, Haas School of Business

• Eric van Wincoop, Federal Reserve Bank of New York

• Please save original receipts for your travel expenses.
• We can only reimburse reasonable travel expenses (Saturday night stay, economy-class, APEX if possible …)