Board of Governors of the Federal Reserve System

The seventh biennial Global Research Forum on International Macroeconomics and Finance, organized by the Federal Reserve Board, European Central Bank, and Federal Reserve Bank of New York, will be held at the Federal Reserve Board in Washington, D.C., on November 3–4, 2026.

Overview
The purpose of the forum is to promote the discussion of frontier research on empirical and theoretical issues in international finance, global banking, and open economy macroeconomics, with a focus on relevance for monetary policy and financial stability.

This year's forum will explore the future of international capital flows in a rapidly changing global economy. As profound shifts in demographics, the rise of artificial intelligence, persistent global imbalances, and evolving safe-haven dynamics reshape the international financial landscape, we seek to better understand cross-border capital movements and exchange rate determination.

This Forum will feature a keynote address by Mark Aguiar, Princeton.

We invite submissions of empirical or theoretical papers with an international perspective on topics including, but not limited to

• global imbalances and cross-border capital flows, including their causes, dynamics, sustainability, and macrofinancial implications;
• exchange rate determination and international financial markets, including the role of capital flows, the financial sector, market structure, and safe-haven dynamics;
• artificial intelligence, technological change, and international capital allocation, including implications for productivity, investment patterns, and cross-border flows; and
• demographics and global capital allocation, including the effects of aging, labor force shifts, and migration on international saving, investment, and capital flows.

Submission deadline
Complete manuscripts (which will be given priority) and extended abstracts should be submitted through this CVENT page by May 31, 2026. Authors of accepted papers will be notified by June 30, 2026. Allowable travel expenses of presenting academic authors will be reimbursed, but participants from central banks and other official institutions will be expected to cover their own expenses.

Organizing committee
Ozge Akinci, Federal Reserve Bank of New York
María Aristizábal-Ramírez, Federal Reserve Board
Ricardo Correa, Federal Reserve Board
Georgios Georgiadis, European Central Bank
Linda Goldberg, Federal Reserve Bank of New York
Juan M. Londono, Federal Reserve Board
Arnaud Mehl, European Central Bank

Scientific committee
Nina Boyarchenko, Federal Reserve Bank of New York
Trang Hoang, Federal Reserve Board
Hyeyoon Joon, Federal Reserve Bank of New York
Cody Kallen, Federal Reserve Board
Ben Knox, Federal Reserve Board
Enrico Mallucci, European Central Bank
Massimo Ferrari Minesso, European Central Bank
Paolo Pesenti, Federal Reserve Bank of New York