SIEPR. economic summit the leading issues of Conference and Dinner Friday, February 11, 2005

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SIEPR economic summit the leading issues of 2005 Conference and Dinner Friday, February 11, 2005 Sponsored by Cisco Systems and Lehman Brothers with underwriting from the Koret Foundation

About SIEPR SIEPR scholars conduct research on important economic policy issues in the United States and around the world. SIEPR s goal is to inform and advise policy makers and the public and to guide their decisions with sound policy analysis. In the course of their research, SIEPR faculty train, educate, and support Ph.D. students as future economic policy analysts. About the Summit The SIEPR Economic Summit is a day of thought-provoking discussions and panels on the most important economic topics of the year. The topics reflect the current trends and pressing issues of the economy. The summit brings together academics, the business community and policy makers to discuss and debate issues of importance to us all.

You are invited to the SIEPR economic summit and dinner Advisory Board Chairman Donald L. Lucas Honorary Chairman George Shultz Committee Members William Davidow, Frederick Grauer and Mark Kvamme All events will take place at Frances C. Arrillaga Alumni Center 326 Galvez Street Stanford, California Seating is limited. Reservations must be received by January 19, 2005, and will be held on a first come, first served basis. For more information call Joseph Chee at 650.724.8867

Cost of the Summit and Dinner Summit Individual Ticket... $2,500 Benefits: Individual SIEPR Friend Membership for one year With purchase of two or more tickets, Individual SIEPR Associate Membership for one year Summit Corporate and Individual Table... $25,000 Benefits: Acknowledgment on conference and dinner program and all publicity 10 tickets (1 table) to the summit and dinner Corporate/Individual signage on table SIEPR Corporate Associate Membership for one year Please note: The conference and dinner are only sold together. The tax deduction for your gift to SIEPR will be reduced by $100 for each ticket purchased. Further, if you are considering making your donation through a donor advised fund or private foundation, please check with your tax advisor or the donor advised fund administrator, as we have been advised that there may be adverse tax implications if these entities cover event ticket costs.

The Day 7:15 Registration moderator Mark Kvamme, Partner, Sequoia Capital 7:30-7:50 Breakfast and Welcome John Shoven, SIEPR Director 8:00-9:00 Douglas Holtz-Eakin, Director, Congressional Budget Office 9:00-10:20 Session 1 How Stable is the Global Economy? Anne Krueger, First Deputy Managing Director, International Monetary Fund John Taylor, Undersecretary for International Affairs, Department if the Treasury 10:40-12:00 Session 2 How We View Terrorism William Perry, Michael and Barbara Berberian Professor at Stanford University, with a joint appointment in the School of Engineering and the Institute for International Studies, and former Secretary of Defense George Shultz, Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution and former Secretary of State 12:15-12:45 Lunch 12:45-1:30 Lunch Speaker Introduction Sue Bostrom, Senior Vice President, Internet Business Solutions Group and Worldwide Government Affairs, Cisco Systems Lunch Speaker Ben Bernanke, Board of Governors, Federal Reserve System 1:50-3:10 Session 3 U.S. Economic Outlook John Lipsky, JPMorgan Chase & Co. Janet Yellen, President, SF Federal Reserve Bank 3:10-4:10 Session 4 The World is Flat Tom Friedman, NY Times Columnist and Pulitzer Prize winning author 4:30-5:45 Critical Issue Sessions Panels will include the following topics: Outsourcing, Assessment of the Sarbanes-Oxley Act, Medicare and Medicaid, Technology Policy The Evening 6:00 7:00 Reception 7:00-9:30 Dinner Keynote Introduction Mark Shafir, Managing Director and Global Head of Mergers and Acquisitions, Lehman Brothers Keynote Paul Volcker

Speaker Bios Paul A. Volcker Mr. Volcker served as Chairman of the Board of Governors of the U.S. Federal Reserve System. He is former Chairman of Wolfensohn & Co., Inc., as well as Professor Emeritus of International Economic Policy at Princeton University. Educated at Princeton and Harvard and the London School of Economics, Mr. Volcker divided the earlier stages of his career between the Federal Reserve Bank of New York, Chase Manhattan Bank, and the U.S. Treasury Department. He is chairman of the Board of Trustees of the International Accounting Standards Committee and of the Independent Inquiry Committee for the United Nations Oil-for-Food Programme. Ben S. Bernanke Ben S. Bernanke has served as a member of the Board of Governors of the Federal Reserve System since 2002. Before becoming a member of the Board, Dr. Bernanke was the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs and Chair of the Economics Department at Princeton University. Dr. Bernanke has published many articles on a wide variety of economic issues, including monetary policy and macroeconomics, and he is the author of several scholarly books and two textbooks. JOHN B. TAYLOR John B. Taylor has served as Under Secretary of Treasury for International Affairs since June 1, 2001. As Under Secretary, he serves as principal advisor to the Secretary of the Treasury on international economic issues. He leads the development and implementation of policies in the areas of international finance, trade in financial services, investment, economic development, international debt, and U.S. participation in the International Monetary Fund, the World Bank, and the other multilateral development banks (including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development). Taylor also coordinates financial market policy with the G-7 industrial nations and is Chair of the Working Party on international macroeconomics at the OECD.

Thomas Friedman Thomas Friedman, a world-renowned author and journalist, joined The New York Times in 1981 as a financial reporter. A three-time Pulitzer Prize winner, he has traveled hundreds of thousands of miles reporting on the Middle East conflict, the end of the cold war, US domestic politics and foreign policy, international economics and the worldwide impact of the terrorist threat. His most recent book, Longitudes and Attitudes: Exploring the World After September 11, issued in 2002, consists of columns Friedman published about September 11 as well as a diary of his private experiences and reflections during his reporting on the post-september 11 world as he travels from Afghanistan to Israel to Europe to Indonesia to Saudi Arabia. Douglas Holtz-Eakin Douglas Holtz-Eakin is the sixth Director of the Congressional Budget Office, where he was appointed for a four-year term beginning in February 2003. Dr. Holtz-Eakin previously served for 18 months as Chief Economist for the President s Council of Economic Advisers, where he also served as Senior Staff Economist in 1989 and 1990. Dr. Holtz-Eakin is Trustee Professor of Economics at the Maxwell School, Syracuse University, where he has served as Chairman of the Department of Economics and Associate Director of the Center for Policy Research. He also has served as editor of the National Tax Journal and many other finance publications. Anne O. Krueger Anne O. Krueger has been the First Deputy Managing Director of the International Monetary Fund since 2001. Before coming to the Fund, Ms. Krueger was the Herald L. and Caroline L. Ritch Professor in Humanities and Sciences in the Department of Economics at Stanford University. She was the founding director of the Stanford Center for International Development (SCID) at SIEPR. In addition, she is a senior fellow at the Hoover Institution. Ms. Krueger is a distinguished fellow and past president of the American Economic Association, a member of the National Academy of Sciences and a research associate of the National Bureau of Economic Research. She has published extensively on policy reform in developing countries, the role of multilateral institutions in the international economy and the political economy of trade policy. John P. Lipsky John Lipsky is the firm s Chief Economist, responsible for JPMorgan Chase s worldwide economic and policy views. He also directs JPMorgan s flagship World Financial Markets and Global Issues publications. Previously, Mr. Lipsky served as Chase Manhattan Bank s Chief Economist and Director of Research. He served as Chief Economist of Salomon Brothers, Inc. from 1992 until 1997. From 1989 to 1992, Mr. Lipsky was based in London, where he directed Salomon Brothers European Research Group. He joined Salomon Brothers in 1984, following a decade at the International Monetary Fund.

George P. Shultz Speaker Bios, continued William J. Perry William J. Perry is the Michael and Barbara Berberian Professor at Stanford University, with joint appointments in the School of Engineering and the Stanford Institute for International Studies, where he is Co-director of the Preventive Defense Project, a research collaboration of Stanford and Harvard Universities. He was the Co-director of the Center for International Security and Arms Control. He is also on the SIEPR Advisory Board and is a Chair Emeritus. Dr. Perry was the 19th Secretary of Defense for the United States, serving from 1994 to 1997. He has received numerous distinguished awards for his public service including the Presidential Medal of Freedom Award. George P. Shultz is the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution. He is also the Honorary Chairman of the SIEPR Advisory Board. He was sworn in on July 16, 1982, as the sixtieth U.S. secretary of state and served until 1989 at which time he rejoined Stanford University as the Jack Steele Parker Professor of International Economics at the Graduate School of Business and a distinguished fellow at the Hoover Institution. He was awarded the Medal of Freedom, the nation s highest civilian honor 1989. He also received the Seoul Peace Prize, the Eisenhower Medal for Leadership and Service, and the Reagan Distinguished American Award. Janet L. Yellen Janet L. Yellen took office as President & CEO of the Federal Reserve Bank of San Francisco in 2004. Ms. Yellen, currently on leave, was the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics at U. C. Berkeley before joining the bank. She has achieved distinction not only as an academic, but also as a policymaker, having served as a member of the Board of Governors of the Federal Reserve System (1994-1997) and concurrently as Chair of the Council of Economic Advisers and of the Economic Policy Committee of the OECD (1997-1999).

Critical Issue Sessions Critical Issue Session topics: Outsourcing Moderator Dixon R. Doll Co-founder and Managing General Partner, DCM-Doll Capital Management Assessment of the Sarbanes-Oxley Act Moderator Mark A. Wolfson Managing Partner, Oak Hill Capital Management, Inc. Medicare and Medicaid Moderator Donald L. Lucas Venture Capitalist Technology Policy Moderator Sue Bostrom Senior Vice President, Internet Business Solutions Group and Worldwide Government Affairs, Cisco System Critical Issue Session panelists include: Carol Bartz Chairman, CEO and President of Autodesk S. Kimberly Belshe Secretary of the California Health and Human Services Agency Alan M. Garber, M.D. Henry J. Kaiser Jr. Professor and a Professor of Medicine, Stanford University Commissioner Cynthia A. Glassman U.S. Securities and Exchange Commission Joseph Grundfest William A. Franke Professor of Law and Business, Stanford Law School Congresswoman Anna Eshoo 14th District of California Roger G. Noll Morris M. Doyle Professor of Economics and director of the Stanford Center for International Development Paul Otellini President and COO, Intel Corporation T. N. Srinivasan Samuel C. Park, Jr. Professor of Economics, Yale University Atul Vashistha Chairman and CEO of neoit All moderators are SIEPR Advisory Board Members.

Advisory Board Chair Donald L. Lucas Chair Elect John A. Gunn Honorary Chair George P. Shultz Chair Emeriti Wallace R. Hawley George M. Keller Bowen H. McCoy William J. Perry Thaddeus N. Taube Members Henry J. Aaron Laura Arrillaga Orley C. Ashenfelter Elizabeth E. Bailey Mary G. F. Bitterman Sue Bostrom Winston H. Chen William H. Davidow Dixon R. Doll William C. Edwards John Freidenrich Frederick L. Grauer Patrick W. Gross Robert B. Hellman, Jr. Walter Hewlett Benny T. Hu Franklin P. Johnson, Jr. Richard B. Kapnick Harry W. Kellogg Steven W. Kohlhagen Mark D. Kvamme Barnaby J. Levin John P. Lipsky Eff W. Martin George E. McCown Burton J. McMurtry Elizabeth J. Meehan Anthony Meier Thomas C. Melzer Arjay Miller Gordon E. Moore Jeff Morgan P. Anthony Ridder Morgan W. White Mark A. Wolfson Paul M. Wythes

For more information on SIEPR, please write or call: Stanford Institute for Economic Policy Research 579 Serra Mall at Galvez Street Stanford, California 94305-6015 Phone: 650.725.1874 Fax: 650.723.8611 http://siepr.stanford.edu