主題：Asset Bubbles and Foreign Interest Rate Shocks（資産泡沫與外國利率沖擊）

主講人：王鵬飛，香港科技大學經濟系教授

日期：2016年11月16日（周三）

時間：下午2:30-4:00

地點：清華Betvictor中文版4号樓101教室

語言：英文

摘要：

We provide an infinite-horizon general equilibrium model of a small open economy with both domestic and international financial market frictions. Firms face credit constraints and use a bubble asset (land) as collateral to borrow. A land bubble can provide liquidity and relax credit constraints. Low foreign interest rates are conducive to bubble formation. A rise in foreign interest rate can cause the collapse of the asset bubble and a sudden stop. Asset bubbles provide an important amplification mechanism.

主講人簡介:

Pengfei Wang is currently Professor at Hong Kong University of Science and Technology. He joined HKUST in 2007 after obtained his Ph.D degree in Economics at Cornell. His research interest lies in the areas of macroeconomics, financial economics and monetary economics. Professor Wang has published extensively in top journals such as Econometrica, American Economic Review, Journal of Economic Theory, Journal of Monetary Economics, American Economic Journal: Macroeconomics, Review of Economic Dynamics, and Journal of Economic Dynamics and Control.