Séminaire d'Hugo MINNELLA

Séminaire d'Hugo MINNELLA

Le 24 septembre 2024

Le prochain séminaire du GAINS aura lieu le 24 septembre 2024 de 10h30 à 12h00 en salle T204. Hugo MINNELLA (GAINS-TEPP, IRA, & CEPREMAP) présentera "Fiscal and Monetary interaction in the Eurozone with agents heterogeneity", co-écrit avec François LANGOT (GAINS-TEPP, IRA, PSE, & CEPREMAP) et Selma MALMBERG (GAINS-TEPP, IRA and CEPREMAP)

Abstract

In this paper, we assess how heterogeneous agents may affect the determinacy properties of a two-country model for the Eurozone. We first make use of a stylized TANK² framework to shed light on some key mechanisms. We especially emphasize on the importance of the interaction between the share of constrained agents in the two economies. In a second place, we move to a fully-fledged HANK² model where the share of constrained agents is endogenous. In that framework, we show that the persistence and volatility of income risk may alter the policy-mixes consistent with a unique saddle-path of the dynamics. Finally, we lead some policy experiments that shed light on the fact that heterogeneous agents are not only important for the determinacy properties of our model but also for the assessment of shocks propagation both on macroeconomic aggregates and inequalities.

Un lien zoom est disponible pour ceux qui ne peuvent pas assister au séminaire en présentiel:

https://univ-lemans-fr.zoom.us/j/96860355502?pwd=idEBbhHZXRXP7YQG85xAZa9nata9Ia.1

Meeting ID: 917 6792 9974
Passcode: 384302