November 17, 2022
16:30 - 18:00
Brussels
Conference Room Lamfalussy, entrance: rue de Berlaimont 14, and will also be able to be followed via a Microsoft Teams meeting.
UAntwerpen, UCLouvain, UGent, ULB, ULiège, UNamur and VUB).
by
Jean-Baptiste Michau (Ecole Polytechnique, France)
on
The Trilemma for Low Interest Rate Macroeconomics
Abstract
Three desirable goals of macroeconomic policy are: full employment, low inflation, and a low debt level with no Ponzi scheme. This paper shows that, when the natural real interest rate is persistently depressed, at most two of these three goals can be simultaneously achieved. Depending of the parameters of the economy, each of the three possibilities can be the preferred option, resulting in a non-trivial policy trilemma.
The seminar will take place on Thursday, November 17th from 16:30 until 18:00 in Conference Room Lamfalussy, entrance: rue de Berlaimont 14, 1000 Brussels and will also be able to be followed via a Microsoft Teams meeting.
Please reply by email to nbbmacro.seminar@nbb.be if you wish to participate to this seminar or if you want to have an appointment with the speaker.
Please let us know if you will be physically present or will follow online. After registration and if you have indicated that you want to join online you will receive a confirmation email with the link to the seminar.
In case you want to access the NBB Parking (rue Montagne aux Herbes potagères 41), please also provide us with your name and the license plate of your car.
and will also be able to be followed via a Microsoft Teams meeting.