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劳动经济学双周学术论坛第125期讲座通知
时间:2018-11-16 浏览量:143

讲座题目:Credit Booms, Debt Overhang and Secular Stagnation

摘要:Why do economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit booms? We study the interactions between household debt, liquidity and asset prices in a model of persistent demand shortage. We show that financially more deregulated economies are more likely to experience persistent stagnation. Credit booms or asset price booms mask this structural aggregate demand deficiency. However, the resulting debt overhang permanently depresses spending in the long run. Hence, the contractionary long run effects of relaxing lending standards are the opposite of their expansionary short run effects. These findings are in line with the macroeconomic developments in Japan during its lost decades and other advanced economies before and during the Great Recession.

 

主讲人:Gerhard Illing教授(慕尼黑大学)

讲座语言:英文

讲座时间:20181123日(周五)上午10:00—11:30

讲座地点:求是楼347会议室

主持人:刘相波副教授

参与人员:热烈欢迎广大师生参加。

 

主讲人简介:

Gerhard Illing,德国慕尼黑大学经济系教授。他的研究主要集中在货币理论、金融稳定和系统风险等领域。他在Journal of International Economics, European Economic Review, Scandinavian Journal of Economics, Journal of Institutional and Theoretical Economics, International Journal of Central Banking, Financial Markets and Portfolio Management等国际期刊上发表了多篇文章。他还在宏观经济学、货币理论等方面出版了多本专著。

 

 
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地址:北京市中关村大街59号中国人民大学求是楼
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  劳动人事学院公众号 人大人力资源公众号