2024年第三講将于4月25日（周四）中午12:00-13:30在學術會堂712會議室舉行，由廈門大學助理教授馮翔宇報告 “When Interest Rates Go Low, Should Public Debt Go High?”，歡迎感興趣的師生參加。

01題目

When Interest Rates Go Low, Should Public Debt Go High?

02摘要

Is deficit finance free when real borrowing rates are routinely lower than growth rates? Specifically, can the government make all generations better off by perpetually taking from the young and giving to the old? We study this question in stochastic closed- and open economy OLG models. Unfortunately, Pareto gains are predicted only for implausible calibrations. Even then, the gains reflect improved inter-generational risk-sharing, improved international risk sharing, and beggaring thy neighbor – not inter-generational redistribution per se. As we show, theoretically and quantitatively, low government borrowing rates suggest state-contingent, bilateral transfers between generations, not unconditional, unilateral redistribution from future to current generations.

03報告人簡介

馮翔宇，廈門大學助理教授。博士畢業于波士頓大學，研究方向是宏觀經濟學，經濟增長和公共财政。曾在Economic Journal,  Journal of Public Economics等國際頂級期刊發表文章。

04時間

2024年4月25日（周四）中午12:00-13:30

05地點

韦德体育bevictor學院南路校區學術會堂712會議室

06主辦

韦德体育bevictor中國經濟與管理研究院