文澜学术系列讲座 第 105 期 清华大学经济管理学院经济系助理教授:“Credit Risk and Fiscal Inflation”
日期:2018-04-09             信息来源:文澜学院

主题|TopicCredit Risk and Fiscal Inflation

时间|Time413号(周五)|April 13 (Friday) , 200 - 500 PM

地点|Venue文波208208WENBO


主讲|Speaker

李冰老师研究生毕业于加拿大英属哥伦比亚大学,博士毕业于美国印第安纳大学。现在为清华大学经济管理学院经济系助理教授。主要研究方向为动态结构模型,高科技及互联网市场,医药营销,实证产业组织等。研究成果发表于China Economic Review, Economics Letters 等国际一流学术期刊上。


研究领域Research Interests 

货币与金融,应用宏观经济学(结构性向量自回归、DSGE建模、贝叶斯估计等),货币与财政政策的协调搭配,宏观经济学中的区制转移等


摘要Abstract

Is inflation always and everywhere a monetary phenomenon or is it fundamentally a fiscal phenomenon? This article augments a standard monetary model to incorporate fiscal details and credit market frictions. These ingredients allow for both interpretations of the inflation process in a financially constrained environment. We find that adding financial frictions to the model generates important identifying restrictions on the observed pattern between inflation and measures of financial and fiscal stress, to the extent that it can overturn existing findings about which monetary-fiscal policy regime produced the pre-crisis U.S. data.