[ECON20141212]
宏观经济学研讨会 （总第163期）

【时间】2014年9月17日（周三）12：15－13：45
【地点】明商0302教室
【主讲】刘哲希  中国人民大学经济学院
【点评】周  璇  中国人民大学经济学院助理教授  
   美国印第安纳大学博士
【主题】Monetary/Fiscal Policy Mix and Agents’ Beliefs (written by Francesco Bianchi, Cosmin Ilut, NBER Working Paper, 2014)
【摘要】We reinterpret post World War II US economic history using an estimated microfounded model that allows for changes in the monetary/fiscal policy mix. We find that the fiscal authority was the leading authority in the `60s and the `70s. The appointment of Volcker marked a change in the conduct of monetary policy, but inflation dropped only when fiscal policy accommodated this change two years later. In fact, a disinflationary attempt of the monetary authority leads to more inflation if not supported by the fiscal authority. If the monetary authority had always been the leading authority or if agents had been confident about the switch, the Great Inflation would not have occurred and debt would have been higher. 
【主持】陈彦斌 教授


人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。


联系人：郭豫媚    Email：Macro_Workshop@163.com
资料下载：www.docin.com/mydoc-88265459-1.html
更多讲座信息请访问econ.ruc.edu.cn，www.yanjiuyuan.com.cn






经济学院 中国经济改革与发展研究院