中心介绍
首页 通知新闻 学术活动 正文
讲座通知|苗建军:Fiscal and Monetary Policy Interactions in a Model...
信息来源:浏览次数:发布时间:2021年06月03日 20:00

讲座名称:Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates

讲座时间:2021年6月10日(星期四)上午9:30-11:00

讲座地点:线上进行,腾讯会议号:187 875 549

主讲人:美国波士顿大学 经济系 苗建军教授

主持人:西南财经大学 中国金融研究中心 王擎教授


主讲人简介:

苗建军,现任美国波士顿大学经济系金融学终身教授。主要研究领域为Financial Economics, Macroeconomics, Industrial Organization, Public Finance。担任国际经济金融期刊Quantitative Economics, Annals of Economics and Finance, Economic Theory, Macroeconomic Dynamics副主编。自2003年以来,苗建军教授已在American Economic Review, Econometrica, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, American Economic Journal: Macroeconomics, International Economic Review, Journal of Economic Theory, Journal of Monetary Economics, Review of Economic Dynamics, Journal of Money, Credit and Banking等国际顶尖金融学和经济学期刊上发表论文50余篇。


内容摘要:

We provide a dynamic new Keynesian model in which entrepreneurs face uninsurable idiosyncratic investment risk and credit constraints. Government bonds provide liquidity service and raise net worth. Multiple steady states with positive values of public debt can be supported for a given permanent deficit-to-output ratio. The steady-state interest rates are less than economic growth and public debt contains a bubble component. We analyze the determinacy regions of policy parameter space and find that a large set of monetary and fiscal policy parameters can achieve debt and inflation stability given persistent fiscal deficits.