1. Vcep

Mission

The objectives of the Virginia Center for Economic Policy (VCEP) include:

  • To create an environment in which academics and policy makers can freely and openly discuss pressing macroeconomic, international macroconomic, and macro-finance policies.
  • To foster the development of fresh analytical and empirical approaches to relevant policy issues.
  • To teach undergraduate and graduate students and the broader UVA community about macroeconomic fundamentals and policy.
  • To bring together macroeconomists across the UVA campus to create research and student-advising synergies.
  • To engage with the UVA community, including alumni, in macroeconomic policy discussions that are relevant for business and asset managers, with an eye to supporting the Center through a subscriber base.

Recent Activities

Seminars:

  • Thursday March 21, 3:30-5 pm. Monroe Hall 130

  • Friday March 22, 10-11:30 pm. Monroe Hall 111

 

flier_braun

Abstract:

We provide a quantitative theory of deflation and secular stagnation. In our lifecycle framework, an aging population puts persistent downward pressure on the price level, real interest rates, and output. A novel feature of our theory is that it also recognizes the reactions of government policy. The central bank responds to falling prices by reducing its policy nominal interest rate, and the fiscal authority responds by allowing the public debt–gross domestic product ratio to rise.

Link to the paper

 

Friday October 21, 2-4 pm - Meeting with R. Anton Braun: "Monetary-Fiscal Interactions and Demographics in Japan". Monroe Hall 120

 

 

  flier_sims_public_talk

Seminars:

  • Friday October 14, 9:30-11 am - Macro Theory Seminar: Christopher Sims. Monroe Hall 124

  • Friday October 14, 2-3:30 pm - Microeconometrics Seminar: Christopher Sims. Monroe Hall 120

 

Worldwide inflation has spiked over the past year. For Americans under age 40, about half the population, inflation is higher than at any time in their lives. Decades of low and stable inflation conditioned people to pay little attention to inflation. What are the causes of inflation and what can policy makers do to reign it in? Who gets most hurt by inflation? How do international experiences differ from those in the United States?

Three UVA economists will address these issues and answer questions in a hybrid event, “Inflation: Causes, Effects, and Cures,” to be held Friday, April 29 in Monroe Hall 130 at 5:00 pm. 

Speakers include:

  • Zach Bethune, associate professor of economics, College of Arts and Sciences
  • Eric Leeper, professor of economics, College of Arts and Sciences
  • Felipe Saffie, assistant professor of business administration, Darden School

After brief presentations by the three speakers, the audience—both in person and online—is invited to ask questions.

Flier

Eric Leeper's presentation, Zach Bethune's presentation, Felipe Saffie's presentation