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For the 3rd session of the International Lending Webinar Series on 6 July 2023, 05:00 - 06:30 PM (CET) Ricardo Reis (London School of Economics, NBER, CEPR) presented the paper Jumpstarting an International Currency (co-authored with Saleem Bahaj).
The Series is organised by the CEPR International Lending and Sovereign Debt Research and Policy Network (RPN).
Global real rates are stuck at a low level, and until recently policy rates everywhere were effectively zero. Can we use historical data to explain why this happened, and to predict whether we will be back at the ZLB when inflation falls? Pierre-Olivier Gourinchas and Ricardo Reis talk to Tim Phillips.
If you're going to drop lots of money from a helicopter, what will happen to the economy? When would it make a difference, and to who? Helicopter money is increasingly being taken seriously as policy. Ricardo Reis tells Tim Phillips whether helicopter money really can solve our economic problems.