During the spring semester, in-person concerts, events and lectures that involve outside guests will not be held, per the university’s COVID-19 travel and visitor policy.
This is a past event. Its details are archived for historical purposes.
The contact information may no longer be valid.
Please visit our current events listings to look for similar events by title, location, or venue.
Thursday, May 6, 2021 at 11:15am to 12:45pmVirtual Event
Adrien Auclert, Stanford University
“Exchange Rates and Monetary Policy with Heterogeneous Agents: Sizing up the Real Income Channel” (w/Matthew Rognlie, Martin Souchier, and Ludwig Straub).
Updated version of the paper here: http://web.stanford.edu/~aauclert/ha_oe.pdf
Abstract: Introducing heterogeneous households to a New-Keynesian small open economy model amplifies the real income channel of exchange rates: the rise in import prices from a depreciation lowers households’ real incomes, and leads them to cut back on spending. This channel counteracts the standard expenditure-switching channel of exchange rates, and can result in a contractionary effect of a depreciation on domestic output. We study the monetary policy implications of a large and dominant real income channel.
If you are interested participating in this seminar, please email Ulrike Kroeller at firstname.lastname@example.org for Zoom information.