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X-ORIGINAL-URL:https://crest.science
X-WR-CALDESC:Events for CREST
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TZID:Europe/Helsinki
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DTSTART:20220327T010000
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DTSTART:20221030T010000
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DTSTART;TZID=Europe/Helsinki:20220912T090000
DTEND;TZID=Europe/Helsinki:20220914T160000
DTSTAMP:20260727T201230
CREATED:20220901T075113Z
LAST-MODIFIED:20220901T075204Z
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SUMMARY:Quantitative Economics Workshop
DESCRIPTION:Quantitative Economics Workshop\nTime: 09:00 am – 16:00 pm\nDate: September 12\, 13 and 14\, 2022 \nAbstract :\nThe first Quantitative Economics Workshop in Paris will take place at CREST. The goal of the workshop is to stimulate community exchanges around the use of opensource tools for structural economics\, especially at the new intersection of micro and macro models. \nOrganizers:\nB. Cherrier  (CREST) \nSponsors:\nCREST\, t2m\, OfCE\, CEPREMAP \n
URL:https://crest.science/event/quantitative-economics-workshop/
CATEGORIES:Economics
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DTSTART;TZID=Europe/Helsinki:20220912T121500
DTEND;TZID=Europe/Helsinki:20220912T133000
DTSTAMP:20260727T201230
CREATED:20220907T050800Z
LAST-MODIFIED:20220907T050800Z
UID:14006-1662984900-1662989400@crest.science
SUMMARY:Yuta Takahashi (Hitotsubashi University) "Hidden Stagflation"
DESCRIPTION:The Macroeconomics Seminar:\nTime: 12:15 pm – 13:30 pm\nDate: 12th of September 2022 \nRoom 3001 \nYuta TAKAHASHI (Hitotsubashi University) “Hidden Stagflation” \nAbstract : We present evidence that the rise in inflation in Japan since 2014 is a result of a hidden stagflation: the relative prices of durable consumption and ICT investment goods stopped declining\, reflecting technology stagnation and exerting an inflationary pressure on the economy and; the real side of the Japanese economy simultaneously started stagnating even further. We construct a multi-good monetary model to account for these facts together and quantify the impact of the technology stagnation on the aggregate inflation rate. We develop a new sign restriction approach to construct informative lower bounds to the impact of the technology stagnation on long-run inflation without relying on the exact Euler equation and some of the balanced growth path properties. By using the lower bounds\, we find that inflation would be close to 0% or even negative without the technology stagnation. Moreover\, the technology stag- nation explains a sizable fraction of the observed slowdown in the real GDP and consumption growth. Our findings challenge the conventional view that Japan emerged from long-lasting deflation owing to the unconventional monetary policies. Finally\, we apply our analysis to European countries and uncover the hidden stagflation there as well. \nOrganizers:\nOlivier LOISEL (CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/yuta-takahashi-hitotsubashi-university-hidden-stagflation/
CATEGORIES:Macroeconomics
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