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.
場地開放時間
2:45 pm
活動形式
講者/ 表演者:
Prof. Saki Bigio
University of California, Los Angeles
語言
英文
適合對象
校友
教職員
研究生
主辦單位
經濟學系
聯絡方法
Julie tel: 2358 7621 / email: fnjuwong@ust.hk