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
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
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
Presenter: Cristina Manea Affiliation: Deutsche Bundesbank, Research Centre Paper: Big Techs and the Credit Channel of Monetary Policy Date: May 16, 2022 Time: 13:00 GMT Abstract: We study how the entry of large technology firms such as Amazon, Alibaba or Facebook (“Big Techs”) into finance may affect the transmission of monetary policy. Our empirical analysis … Read more
Presenter: Alp Simsek Affiliation: Yale University, Yale School of Management Paper: A Note on Temporary Supply Shocks with Aggregate Demand Inertia Date: May 10, 2022 Time: 13:00 GMT Abstract: We study optimal monetary policy during temporary supply contractions when aggregate demand has inertia and expansionary policy is constrained. In this environment, it is optimal to … Read more
Presenter: Carlos A. Vegh Affiliation: Johns Hopkins University, School of Advanced International Studies and the Department of Economics. Paper: Procyclical Fiscal Policy and Asset Market Incompleteness. Date: May 2, 2022 Time: 10:30 GMT Abstract: We develop a model of the joint behavior of optimal tax rates and government spending over the business cycle to explain … Read more
Presenter: Jonathan A. Parker Affiliation: MIT, Sloan School of Management Paper: A Dynamic Theory of Lending Standards Date: April 12, 2022 Time: 13:00 GMT Abstract: We develop a dynamic model of credit markets in which lending standards and the quality of potential borrowers interact. Banks privately choose lending standards: whether to pay to screen out … Read more
Presenter: Michèle Tertilt Affiliation: University of Mannheim, Department of Economics. Paper: Consumer Credit with Over-Optimistic Borrowers. Date: March 22, 2022 Time: 13:00 GMT Abstract: Do cognitive biases call for regulation to limit the use of credit? We incorporate over-optimistic and rational borrowers into an incomplete markets model with consumer bankruptcy. Over-optimists face worse income risk … Read more
Presenter: Jordi Galí Affiliation: Universitat Pompeu Fabra, Department of Economics, CREI and Barcelona GSE. Paper: Monetary Policy and Endogenous Financial Crises Date: March 15, 2022 Time: 13:00 GMT Abstract: We study whether a central bank should deviate from its objective of price stability to promote financial stability. We tackle this question within a textbook New … Read more
Presenter: Lawrence H. Summers Affiliation: Harvard University Talk title: The Fed’s Strategy Review: Relevance for Small Open Economies. Date: February 22, 2022 Time: 13:30 GMT Click here to attend this seminar