BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//CREST - ECPv5.1.3//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:CREST
X-ORIGINAL-URL:https://crest.science
X-WR-CALDESC:Events for CREST
BEGIN:VTIMEZONE
TZID:Europe/Helsinki
BEGIN:DAYLIGHT
TZOFFSETFROM:+0200
TZOFFSETTO:+0300
TZNAME:EEST
DTSTART:20210328T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0300
TZOFFSETTO:+0200
TZNAME:EET
DTSTART:20211031T010000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=Europe/Helsinki:20210927T121500
DTEND;TZID=Europe/Helsinki:20210927T133000
DTSTAMP:20260723T112748
CREATED:20210726T081849Z
LAST-MODIFIED:20210914T043320Z
UID:12918-1632744900-1632749400@crest.science
SUMMARY:Omar LICANDRO   (University of Nottingham)\,  "Switching-Track after the Great Recession"
DESCRIPTION:The Macroeconomics Seminar: \nTime: 12:15 pm – 13:30 pm\nDate: 27th of September  2021\nby zoom \nOmar LICANDRO (University of Nottingham)\, “Switching-Track after the Great Recession” \nAbstract : We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery\, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth\, negative demand shocks destroy productive capacity\, moving GDP to a lower trajectory. A Taylor rule policy designed to reduce the output gap can  counterbalance shocks\, preventing the destruction of economic capacity and inducing V-shaped recoveries in line with past episodes. However\, when shocks are deep and persistent enough potential output measures get revised down (switching-track)\, weakening the recovering role of monetary policy\, and inducing an L-shaped recovery. \nJoint work with : Francesca VINCI (European Central Bank) \nOrganizers:\n\nJulien PRAT (CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/omar-licandro-university-of-nottingham-t-b-a/
CATEGORIES:Macroeconomics
ATTACH;FMTTYPE=:
END:VEVENT
END:VCALENDAR