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TZID:Europe/Helsinki
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TZOFFSETFROM:+0200
TZOFFSETTO:+0300
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DTSTART:20250330T010000
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DTSTART:20251026T010000
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DTSTART;TZID=Europe/Helsinki:20250212T121500
DTEND;TZID=Europe/Helsinki:20250212T133000
DTSTAMP:20260710T092622
CREATED:20250124T070131Z
LAST-MODIFIED:20250124T070506Z
UID:17819-1739362500-1739367000@crest.science
SUMMARY:DEL NEGRO Marco (Federal Reserve Bank of New York) "The Financial (In)Stability Real Interest Rate\, r**"
DESCRIPTION:[vc_row][vc_column][vc_column_text]Macro seminar\nTime : 12h15 – 13h30 \nDate : 12th  February 2025 \nSalle 3001 \nDEL NEGRO Marco (Federal Reserve Bank of New York) “The Financial (In)Stability Real Interest Rate\, r**” \nAbstract: We build a macro-finance model with an occasionally binding financing constraint where real interest rates have opposite effects on current and future financial stability\, with the contemporaneous impact driven by valuation effects (akin to those triggering the 2023 banking turmoil) and the future impact driven by reach-for-yield by intermediaries. We use this model to illustrate the concept of the financial stability interest rate\, r**\, which we propose as a quantitative summary statistic for financial vulnerabilities. We provide a measure of r** for the U.S. economy and discuss its evolution over the past fifty years. \nOrganizer : Gauthier VERMANDEL \n
URL:https://crest.science/event/del-negro-marco-federal-reserve-bank-of-new-york-t-b-a/
CATEGORIES:Macroeconomics,Seminars
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