Seminars (April 2022-Nov 2023)

I have given the following presentations over the last 18 months.

• “Doit-on avoir peur de la dette publique“, Université de tous les savoirs, Villefranche-de-Rouergue, 19 April 2022
• “Monetary Policy when the Phillips Curve is Quite Flat” (with Paul Beaudry and Chenyu Hou), conference “Recent Advances in Macroeconomics and Financial Markets”, Peking University HSBC Business School, UK Campus (Oxford), 30-31 May 2022
• “Macroeconomic Analysis with Weak Complementarities“, conference “More Is Different”, Collège de France. 2-3 June 2022
• “Dynamic Identification in VARs” (with Paul Beaudry, Fabrice Collard, Patrick Fève and Alain Guay), Barcelona Summer Forum. 14-17 June 2022
• “Monetary Policy when the Phillips Curve is Quite Flat” (with Paul Beaudry and Chenyu Hou), 6th BdF-AMSE workshop on Macroeconomics, Marseille, 24 June 2022
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Uppsala University, 6 October 2022
• “Monetary Policy when the Phillips Curve is Quite Flat” (with Paul Beaudry and Chenyu Hou), Bank of Sweden, 7 October 2022
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Conférence pour les 30 ans du GAINS, Le Mans, 29-30 November 2022
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), University of York, 26 April 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), HEC Paris, 9 May 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Banque de France, Paris, 16 May 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Barcelona Summer Forum, 7-9 June 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), University of Turku, 13 June 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), University of Durham, 22 June 2023
• “Dynamic Cooper & John [1988] Economies” (with Paul Beaudry and Dana Galizia), University of Surrey, 26 June 2023
• Discussion of “”Safe asset demand and the maturity structure of debt” by Julia Schmidt, Olivier Sirello and Miklos Vari, 7th BdF-AMSE workshop on Macroeconomics, Marseille, 7 July 2023
• “The Macroeconomics of Complementarities“, EABCN Training School, Brussels, 4-6 September 2023
• Discussion of “Can Deficits Finance Themselves?” by George-Marios Angeletos, Chen Lian and Christian K. Wolf, Hydra conference, Taormina, 28-29 September 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Statistics Norway, 7 November 2023
• “The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation” (with Paul Beaudry and Chenyu Hou), National University of Singapore, 21 November 2023

Forthcoming in the AEJ:Macroeconomics: Monetary Policy when the Phillips Curve is Quite Flat

I have posted on my “current work” page the final version of a paper with Paul Beaudry and Sev Hou that is forthcoming in the  AEJ:Macroeconomics,  “Monetary Policy when the Phillips Curve is Quite Flat“.

As written in the abstract,

This paper highlights how the presence of a cost channel of monetary policy can offer new insights into the relation between monetary policy and inflation when the Phillips curve is quite flat. For instance, we highlight a key condition whereby lax monetary policy can push the economy in a low inflation trap and we discuss how, under the same condition, standard policy rules for targeting inflation may need to be modified. In the empirical part of the paper we explore the relevance of the conditions that give rise to these observations. To this end, we present both (i) a wide set of estimates derived from single-equation estimation of the US Phillips curve and (ii) estimates based on structural estimation of a full model. The results from both sets of empirical exercises strongly support the key condition we emphasize.

Keywords are  Monetary Policy, Inflation, Interest Rates.

JEL Classification codes are E3, E32, E24.