报告主题：Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates

主讲嘉宾：苗建军  美国波士顿大学经济学系教授

主 持 人：邬介然  永利集团304am登录教授 

报告时间：6月8日（周四）上午10：00

报告地点：永利集团304am登录530会议室

主办方： 永利集团304am登录

协办方： 永利集团304am登录金融研究院

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 in either regime M or regime F can achieve debt and inflation stability given persistent fiscal deficits.

苗建军教授于6月8日下午2：00在530会议室与师生们开展交流座谈，欢迎广大师生参与！