Sehr geehrte Damen und Herren,
Wir laden Sie herzlich zum VOSTA Freitagsseminar von Herrn Dimitrios Tsomocos, University of Oxford, mit dem Titel "Liquidity and default in an exchange economy" ein.
Termin:
Freitag, 23. März 2018, 11:00 Uhr
Ort:
Oesterreichische Nationalbank
Veranstaltungssaal, Erdgeschoss
Otto-Wagner-Platz 3
1090 Wien
Abstract:
This paper analyzes various channels of shock transmission in an economy subject to financial frictions, by incorporating liquidity and default effects on asset prices. We develop a framework in which we can assess financial stability policy by introducing a simplified model of exchange and financial intermediation that captures the effects of shocks on financial and real sectors of the economy. The model allows us to explain essential mechanisms and interactions of financial and real economic variables in a comprehensive, yet intuitive fashion. Our results suggest that liquidity and default in the credit markets should be analyzed contemporaneously when financial, monetary and productivity shocks affect financial stability as well as the real economy.
Um Ihre verlässliche An- bzw. Abmeldung ersuchen wir bis Dienstag, 20. März 2018, an event-management@oenb.at.
Mit freundlichen Grüßen,
Event-Management
