Calendrier du 12 décembre 2023
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 12/12/2023 de 17:00 à 18:00
BRASSAC Pierre (Universidad Carlos III de Madrid)
Wealth Accumulation in WW2 - Paris
Applied Economics Lunch Seminar
Du 12/12/2023 de 12:30 à 13:30
Salle R2.21
HARPEDANNE Louis-Marie ()
Real effects of central bank collateral policy: Liquidity insurance at work
Using a large eligibility shock during the Global Financial crisis, I show that liquidity insurance by the central bank has significant real effects and I study the transmission channels of this policy. Newly eligible firms significantly increased material investment and employment. Firms were able to invest more because they received more long-term loans. An arbitrage argument shows that banks lent long since they enjoyed liquidity insurance by the central bank.
Du 12/12/2023 de 12:30 à 13:30
R1.14