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SUMMARY:Public Debt\, Interest Rates\, and Negative Shocks
DTSTART:20191206T103000
DTEND:20191206T120000
DTSTAMP:20261001T181723Z
UID:1c6766566a0dc3597dddbae87de4472010481c220b551e6823106a1e
CATEGORIES:Conferences - Seminars
DESCRIPTION:Rick EVANS\, University of Chicago\nThis paper studies the bro
 adly measured costs and risks of public debt when it is possible for the
  government to default. I find that increasing public debt can pose sign
 ificant macroeconomic and individual welfare risks when rare negative ev
 ents are possible. These results contrast with recent studies that have 
 argued that the costs of public debt might be low in environments in whi
 ch interest rates are low for prolonged periods. I use a two-period over
 lapping generations model with aggregate shocks and a lump sum pay-as-yo
 u-go government transfer system to study this question.\n 
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CONFIRMED
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