Nobuhiro Kiyotaki (Princeton University) – Liquidity, Business Cycle and Public PolicyProf. Nobuhiro Kiyotaki (OeNB Gastprofessor 2015, Princeton University, New Jersey)
2 p.m. – 3:30 p.m., Vienna, OeNB, Kassensaal
Financial Accelerator (Wednesday, November 4, 2015, 2 p.m. to 3:30 p.m.)
Abstract: After a brief historical overview of financial crisis, we develop a basic financial accelerator model which emphasizes the interaction between borrowing constraint, asset price and aggregate production.
Liquidity and Crises (Thursday, November 5, 2015, 2 p.m. to 3:30 p.m.)
Abstract: We introduce liquidity constraint in addition to borrowing constraint in order to examine financial deepening, business cycles and monetary policy.
Financial Intermediaries and Crises (Friday, November 6, 2015, 2 p.m. to 3:30 p.m.)
Abstract: We introduce financial intermediaries to study financial crisis, sovereign debt crisis, credit policy and macro prudential policy. By developing these frameworks, we aim to understand the recent financial crisis and the roles of public policies.