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

29.11.2022: Jason Furman – The global economic outlook, a reconsideration of fiscal policy, and what it means for small open economies

Presenter: Jason Furman Affiliation: Harvard University, Harvard Kennedy School Slides: The global economic outlook, a reconsideration of fiscal policy, and what it means for small open economies Date: November 29, 2022 Time: 13:00 GMT (15:00 Israel Time) Abstract: The talk will begin with the U.S. and global macroeconomic outlook, focusing on the outlook for inflation … Read more

15.11.2022: Julia Schaumburg – Networking the yield curve: implications for monetary policy

Presenter: Julia Schaumburg Affiliation: Vrije Universiteit Amsterdam, School of Business and Economics, Econometrics and Data Science. Paper: Networking the Yield Curve: Implications for Monetary Policy Date: November 15, 2022 Time: 13:00 GMT (15:00 Israel Time) Abstract: We introduce a flexible, time-varying network model to trace the propagation of interest rate surprises across different maturities. First, … Read more

25.10.2022: Paul Fontanier – Optimal policy for behavioral financial crises

Presenter: Paul Fontanier Affiliation: Yale University, Yale School of Management Paper: Optimal Policy for Behavioral Financial Crises Date: October 25, 2022 Time: 12:00 GMT (15:00 Israel Time) Abstract: Should policymakers adapt their macroprudential and monetary policies when the financial sector is vulnerable to belief-driven boom-bust cycles? I develop a model in which financial intermediaries are … Read more

18.10.2022: John Cochrane – Inflation past, present and future: Fiscal shocks, Fed response, and fiscal limits

Presenter: John H. Cochrane Affiliation: Stanford University, Hoover Institution Paper: Inflation Past, Present and Future: Fiscal Shocks, Fed Response, and Fiscal Limits Date: October 18, 2022 Time: 12:00 GMT (15:00 Israel Time) Abstract: Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed’s slow reaction spur more … Read more

20.09.2022: Veronica Guerrieri – Monetary policy in times of structural reallocation

Presenter: Veronica Guerrieri Affiliation: University of Chicago, Booth School of Business. Paper: Monetary Policy in Times of Structural Reallocation Date: September 20, 2022 Time: 12:00 GMT (15:00 Israel Time) Abstract: We characterize optimal monetary policy in response to asymmetric shocks that shift demand from one sector to another, a condition arguably faced by many economies … Read more

06.09.2022: Francesca Bastianello – Partial equilibrium thinking, extrapolation, and bubbles

Presenter: Francesca Bastianello Affiliation: University of Chicago, Booth School of Business. Paper: Partial Equilibrium Thinking, Extrapolation, and Bubbles Date: September 6, 2022 Time: 12:00 GMT (15:00 Israel Time) Abstract: We model a financial market where some agents mistakenly attribute any price change they observe to new information alone, when in reality part of the price … Read more

12.07.2022: Tommaso Monacelli – HBANK: Monetary policy with heterogeneous banks

Presenter: Tommaso Monacelli Affiliation: Bocconi University, Ettore Bocconi Department of Economics. Paper: HBANK: Monetary Policy with Heterogeneous Banks Date: July 12, 2022 Time: 13:00 GMT (16:00 Israel Time) Abstract: We study how bank heterogeneity and market power shape the transmission of monetary policy. In the data, following a monetary contraction, large banks lower their credit … Read more

14.06.2022: Boris Hofmann – Losing traction? The real effects of monetary policy when interest rates are low

Presenter: Boris Hofmann Affiliation: Bank for International Settlements, Monetary and Economic Department Paper: Losing Traction? The Real Effects of Monetary Policy when Interest Rates are Low Date: June 14, 2022 Time: 13:00 GMT (16:00 Israel Time) Abstract: Are there limits to how far reductions in interest rates can boost aggregate demand? In particular, as interest … Read more

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