Vilfredo Pareto Research Seminar
Pierpaolo Benigno

The Economics of Helicopter Money

Pierpaolo Benigno, Professor of Monetary Macroeconomics at University of Bern
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Maison de la Paix - Genève, Room S4 Petal 2

PLEASE NOTE: Access to indoor public events is limited to attendees with a Swiss or European COVID certificate. In addition, face masks must be worn to all in-person events at the Graduate Institute.

The Vilfredo Pareto Research Seminar is the Economics department's weekly seminar, featuring external speakers in all areas of economics.

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As part of the Vilfredo Pareto Research Seminar series, the International Economics Department at the Graduate Institute is pleased to invite you to a public talk given by Pierpaolo Benigno, Professor of Monetary Macroeconomics at University of Bern.

He will present his work, joint with Salvatore Nisticò, titled The Economics of Helicopter Money.

Abstract: An economy plagued by a slump and in a liquidity trap has some options to exit the crisis. We discuss helicopter money and other equivalent policies that can reflate the economy and boost consumption. Traditional helicopter money, via the joint co-operation between the treasury and the central bank, depends critically on the central bank fully guaranteeing treasury’s debt. We explore some alternatives for the central bank to do helicopter money on its own, without any treasury’s involvement.


About the speaker

Pierpaolo Benigno is a Professor of Monetary Macroeconomics at the University of Bern. He is Research Fellow of CEPR (Centre for Economic Policy Research) and EIEF (Einaudi Institute for Economics and Finance). He holds a degree in economics from Bocconi University and a Ph.D. in economics from Princeton. He previously taught at LUISS Guido Carli, New York University and Columbia University. His areas of research are open-economy macroeconomics and monetary economics.