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.