Marleau Lecture Series : Macroeconomic Shocks and Stabilization Policy
May 3, 2023 — All day
The Marleau Signature Lecture will be delivered by Professor Mikhail Golosov a Homer J. Livingston Professor of Economics at the University of Chicago. Prior to joining the University of Chicago, he was a professor at Princeton University, Yale University, and MIT, and also taught at Harvard and Northwestern universities. He is a Fellow of the Econometric Society, Research associate at the National Bureau of Economic Research (NBER) and a Distinguished CESifo Affiliate. Golosov was awarded the Sloan Research Fellowship as well as the National Science Foundation CAREER Grant. In his academic research, Professor Golosov studies optimal conduct of fiscal and monetary policies, design of social insurance policies, regulation of banks, environmental policies, and management of financial portfolios of public sector.
Macroeconomic Shocks and Stabilization Policy
Empirical research over the past decade has documented several salient features of macroeconomic fluctuations. Burdens of recessions and benefits of booms are not shared equally by all households; asset prices and interest rates are subject to sudden swings, and macroeconomic uncertainty is an important driver for aggregate fluctuations. This lecture explores the implications of these patterns for the conduct of monetary and fiscal policy. Is the dual mandate of price stability and low unemployment desirable for central banks? How should Treasuries manage public debt to minimize risks to government finance and improve social well-being?