22.08.2023: Jasmine Xiao – Expectations and credit slumps

Presenter: Jasmine Xiao Affiliation: University of Notre Dame, Department of Economics. Paper: Expectations and Credit Slumps Date: August 22, 2023 Time: 12:00 GMT (15:00 Israel Time) Abstract: Since the 2008-09 financial crisis, U.S. bank lending has been slow to recover, despite the period of very low interest rates. We show that banks do not process … Read more

25.07.2023: ‪Moritz Schularick‬ – Loose monetary policy and financial instability

Presenter: ‪Moritz Schularick‬‬ Affiliation: Sciences Po and University of Bonn, Department of Economics Paper: Loose Monetary Policy and Financial Instability Date: July 25, 2023 Time: 12:00 GMT (15:00 Israel Time) Abstract: Do periods of persistently loose monetary policy increase financial fragility and the likelihood of a financial crisis? This is a central question for policymakers, … Read more

20.06.2023: Xavier Jaravel – Five facts about MPCs

Presenter: Xavier Jaravel Affiliation: London School of Economics Paper: TBA (no paper available for the moment, thank you for your understanding) Date: June 20, 2023 Time: 12:00 GMT (15:00 Israel Time) Abstract: We conduct a randomized controlled trial to study the consumption response of French households to unanticipated one-time money transfers of 300 Euros. Using … Read more

13.06.2023: Oleg Itskhoki – Optimal exchange rate policy

Presenter: Oleg Itskhoki Affiliation: University of California, Los Angeles, Department of Economics. Paper: Optimal Exchange Rate Policy Date: June 13, 2023 Time: 12:00 GMT (15:00 Israel Time) Abstract: We develop a general policy analysis framework that features nominal rigidities and financial frictions with endogenous PPP and UIP deviations. The goal of the optimal policy is … Read more

18.04.2023: Carolin Pflueger – Perceptions about monetary policy

Presenter: ‪Carolin Pflueger‬ Affiliation: University of Chicago, Harris School of Public Policy Paper: Perceptions about Monetary Policy Date: 18th April, 2023 Time: 12:00 GMT (15:00 Israel Time) Abstract: We estimate perceptions about the Fed’s monetary policy rule from micro data on professional forecasters. The perceived rule varies significantly over time, with important consequences for monetary … Read more

14.03.2023: Dean Corbae – Competition, stability, and efficiency in the banking industry

Presenter: Dean Corbae Affiliation: University of Wisconsin, Departments of Economics and Finance Paper: Competition, Stability, and Efficiency in the Banking Industry Date: 14th March, 2023 Time: 13:00 GMT (15:00 Israel Time) Abstract: We provide a tractable dynamic model of the banking industry where (1) an intensification of competition increases market measures of efficiency and fragility … Read more

28.02.2023: Olivier Blanchard – Fiscal policy under low interest rates

Presenter: Olivier Blanchard Affiliation: Massachusetts Institute of Technology, Department of Economics, and PIIE. Book: Fiscal Policy under Low Interest Rates Date: February 28, 2023 Time: 14:00 GMT (16:00 Israel Time) Abstract: Policy makers in advanced economies find themselves in an unusual fiscal environment: debt ratios are historically high, and—once the fight against inflation is won—real … Read more

07.02.2023: ‪Refet Gürkaynak‬ – News and noise shaping international yield curves

Presenter: ‪Refet S. Gürkaynak‬ Affiliation: Bilkent University, Department of Economics Paper: News and Noise Shaping International Yield Curves Date: February 7, 2023 Time: 13:00 GMT (15:00 Israel Time) Abstract: We study the joint response of US and euro area yields to both US and euro area news using a new semi-latent factor methodology, where some … Read more

10.01.2023: Tatevik Sekhposyan – Understanding the sources of macroeconomic uncertainty

Presenter: Tatevik Sekhposyan Affiliation: Texas A&M University, Department of Economics Paper: Understanding the Sources of Macroeconomic Uncertainty Date: January 10, 2023 Time: 13:00 GMT (15:00 Israel Time) Abstract: We propose to decompose uncertainty into several components, such as uncertainty about the probability distribution generating the data (broadly speaking, model-misspecification) and uncertainty about the odds of … Read more

13.12.2022: Itamar Drechsler – Credit crunches and the great stagflation

Presenter: Itamar Drechsler Affiliation: University of Pennsylvania, Wharton School Paper: Credit Crunches and the Great Stagflation Date: December 13, 2022 Time: 13:00 GMT (15:00 Israel Time) Abstract: We show that severe credit crunches contributed to the four successive stagflationary cycles that characterize the Great Stagflation of 1965–1982. The crunches were the result of large outflows … Read more

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