Econ Seminar - A Model of Intermediation, Money, Interest, and Prices
3:00pm - 4:30pm
LSK6045
A model integrates a modern implementation of monetary policy (MP) into an incomplete-markets monetary economy. Policy sets corridor rates and conducts open-market operations and fiscal transfers. These tools grant independent control over credit spreads and inflation. We study the implementation of spreads and inflation via different MP instruments. Through its influence on spreads, MP affects the evolution of real credit, interests, output, and wealth distribution (both in the long and the short run). We decompose effects through different transmission channels. We study the optimal spread management and find that the active management of spreads is a desirable target.
场地开放时间
2:45 pm
活动形式
讲者/ 表演者:
Prof. Saki Bigio
University of California, Los Angeles
语言
英文
适合对象
校友
教职员
研究生
主办单位
经济学系
联系方法
Julie tel: 2358 7621 / email: fnjuwong@ust.hk