Skip to main content

Macroeconomic Policy Perspectives: The Long-Run Implications of Deglobalization

Annual conference and initiative of the Federal Reserve Bank of Minneapolis, the University of Chicago, and Stanford University
October 9, 2026 | 8:30 a.m.–6:00 p.m. PT
Stanford Institute for Economic Policy Research
Macroeconomic Policy Perspectives: The Long-Run Implications of Deglobalization

Wordmark for Macroeconomic Policy Perspectives

The Macroeconomic Policy Perspectives conference is hosted this year by Stanford University in partnership with the Becker Friedman Institute at the University of Chicago and the Federal Reserve Bank of Minneapolis, in collaboration with the Journal of Political Economy Macroeconomics (JPE Macro). The event will include presentations of papers and a policy panel with leading experts and policymakers. Papers presented at the conference will undergo a standard peer-review process and, if accepted, will be included in a special volume of JPE Macro.

After decades of integration, the global economy appears to be entering a new regime characterized by rising trade barriers, heightened geopolitical uncertainty, and a deliberate restructuring of cross-border ties. This conference brings together leading scholars to analyze the long-run economic consequences of this shift toward deglobalization. We will explore how increased friction in international markets and the fragmentation of the global trading system will alter the trajectory of economic development and growth. The objective is to move beyond short-term adjustments and understand the structural shifts caused by reduced cross-country interactions.

The event is by invitation only, but interested parties should email sieprevents@stanford.edu. For complete event details and latest agenda updates, see the event page on the Stanford website.

Event Details

Stanford Institute for Economic Policy Research

Event Agenda

Friday, October 9, 2026

8:55⁠–⁠9:00 a.m. PT

Opening remarks

9:00–9:50 a.m. PT

Industrial Policies, Global Imbalances and Technological Hegemony

Authors: Cesa-Bianchi, Ferrero, Fornaro, and Wolf
Discussant: Ahmad Lashkaripour, Indiana University Bloomington

10:05–10:55 a.m. PT

Can Tariffs Spur Innovation?

Authors: Alp and Ates
Discussant: Mike Waugh, Federal Reserve Bank of Minneapolis

11:10 a.m.–12:00 p.m. PT

Tariffs for National Security

Authors: Benigno and Eyquem
Discussant: Matilde Bombardini, University of California, Berkeley

12:30–1:30 p.m. PT

Policy Panel

Laura Alfaro, Inter-American Development Bank
Pierre-Olivier Gourinchas, University of California, Berkeley
Ann Harrison, Berkeley Haas

1:45–2:35 p.m. PT

The Cost of Rivalry: Geopolitical Fragmentation and Trade during the Cold War

Authors: Meyer and Wesseler
Discussant: Matteo Maggiori, Stanford GSB

2:50–3:40 p.m. PT

Middle Powers: Can They Mend a Rupturing Global Order?

Authors: Cui, Fernandez-Arias, Gourinchas, Hong, Li, Presbitero, Topalova, Zhang, and Zymek
Discussant: Ina Simonovska, University of California, Davis

3:55–4:45 p.m. PT

Commodity Trade Fragmentation and Market Power

Authors: Maggi, Shin, and Sollaci
Discussant: Thibault Fally, University of California, Berkeley

5:00–5:50 p.m. PT

Borrowing in the Shadow of China

Authors: Kondo, Sosa-Padilla, and Swaziek
Discussant: Arvind Krishnamurthy, Stanford GSB

6:30 p.m. PT

Dinner