The current macroeconomic environment is associated with a number of risk factors such as unconventional monetary policy and its normalization, very high levels of private and public indebtedness, political uncertainty, and the possibility of infrequent but major shocks. This situation poses new challenges for decision-makers dealing with macroeconomic risk and for research.
Under the scientific leadership of Gilles Saint-Paul (PSE, ENS) and the executive leadership of Axelle Ferriere (PSE, CNRS), the SCOR-PSE Chair aims to investigate these issues, and more broadly to promote the development and dissemination of macroeconomic risk research.
To contribute to this goal, a newsletter is now proposed, summarizing the research performed and promoted within the Chair.
Contact: Samuel Chich - samuel.chich psemail.eu
Newsletter #6, December 2020
> State Dependent Effects of Monetary Policy: The Refinancing Channel
An interview with Martin Eichenbaum (Northwestern University)
> The Great Lockdown and the Big Stimulus: Tracing the Pandemic Possibility Frontier for the U.S.,
by Benjamin Moll (London School of Economics)
> Housing Tenure and Household Debt: Life-Cycle Dynamics During a Boom and Bust,
by Clodomiro Ferreira (Bank of Spain)
> Understanding Consumer Default Risk, by Stefania Albanesi (University of Pittsburgh)
> Macroeconomic Effects of Debt Relief: Consumer Bankruptcy Protections in the Great Recession,
by Adrien Auclert (Stanford University)
Newsletter #5, September 2020
> Roundtable: Macroeconomic consequences of the Coronavirus crisis
> 2020 Junior Research Prize: Ludwig Straub (Harvard University) and Robert Ulbricht (Boston College)
> Financial Cycles with Heterogeneous Intermediaries, by Nuno Coimbra (PSE) and Hélène Rey (London Business School, CEPR and NBER)
> Waiting for the Prince Charming: Fixed-Term Contracts as Stopgaps, by Normann Rion (PSE, ENS-PSL)
Newsletter #4, April 2020
> Why do Stock Markets Jump (and Trump’s impact on Markets)?
An Interview with Nicholas Bloom (Stanford University)
> Risks posed by China to the global economy
- The Changing Landscape of China’s Financial System, by Yu Zheng (Queen Mary)
- Trade Networks and Firm Value: Evidence from the 2018 US China Trade War, by Yi Huang (IIES Geneva)
- Understanding China’s Debt Risk, by Wei Yao (Société Générale)
Newsletter #3, December 2019
> Risk-Centric Macroeconomics: An Interview with Ricardo Caballero (Massachusetts Institute of Technology)
> Strategic Default in Financial Networks, by Nizar Allouch (University of Kent)
> The Transmission of Shocks in Endogenous Financial Networks: A Structural Approach, by Romain Rancière (University of Southern California)
> Understanding Uncertainty Shocks and the Role of Black Swans, by Anna Orlik (Federal Reserve Board)
> Panel: Long-Term Risks for the World Economy
Newsletter #2, June 2019
> 2019 Young Researcher Award
> Intermediation and Voluntary Exposure to Counterparty Risk, by Maryam Farboodi (MIT Sloan School of Management)
> Trading Ambiguity: A Tale of Two Heterogeneities, by Jean-Marc Tallon (PSE, CNRS)
> From Microeconomic Favoritism to Macroeconomic Populism, by Gilles Saint-Paul (PSE, ENS)
Newsletter #1, December 2018
> Why a SCOR-PSE Chair on macroeconomic risk? By Gilles Saint-Paul (PSE, ENS)
> Highlights from the inaugural conference
- Does Uncertainty Reduce Growth?
- Learning, Confidence, and Business Cycles
- Interest Rate Management in Uncertain Times
- The Tail that Keeps the Riskless Rate Low
- Policy panel: Are we at risk of a new financial crisis?
> Disaster risk in macroeconomics and finance, by Xavier Gabaix (Harvard)