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Faculté et Recherche

Debt as safe asset: mining the bubble - Markus Brunnermeier

16 sep
2021
15H00
Jouy-en-Josas
Anglais

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2021-09-16T15:00:00 2021-09-16T16:00:00 Debt as safe asset: mining the bubble - Markus Brunnermeier Finance Speaker : Markus Brunnermeier (Princeton University) Videoconference Jouy-en-Josas

Finance

Speaker : Markus Brunnermeier (Princeton University)

Videoconference

How much government debt can the market absorb? At what interest rate? Is there a limit, a “Debt Laffer Curve”? What is the impact on inflation? When can governments run a permanent (primary) deficit without ever paying back its debt, like a Ponzi scheme, and nevertheless individual citizens’ transversality conditions hold? What is a safe asset? What are its features? Why is government debt a safe asset? When does one lose the safe asset status? How do we have to modify representative agent asset pricing and the FTPL?

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2021-09-16T15:00:00 2021-09-16T16:00:00 Debt as safe asset: mining the bubble - Markus Brunnermeier Finance Speaker : Markus Brunnermeier (Princeton University) Videoconference Jouy-en-Josas