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X-WR-CALNAME:Department of Economics at Columbia University
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X-WR-CALDESC:Events for Department of Economics at Columbia University
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DTSTART;TZID=America/New_York:20250227T100000
DTEND;TZID=America/New_York:20250227T120000
DTSTAMP:20260404T040718
CREATED:20250207T195743Z
LAST-MODIFIED:20250226T202440Z
UID:39419-1740650400-1740657600@econ.columbia.edu
SUMMARY:"Interest Rates\, Market Power\, and Financial Stability" with Professor Rafael Repullo
DESCRIPTION:“Interest Rates\, Market Power\, and Financial Stability” with Professor Rafael Repullo\n(Part 2 of a two-part Mini Course series\, sponsored by the Program for Economic Research)\n \nPER Mini Course Instructor\, Professor Rafael Repullo\nProfessor of Economics at Center For Monetary And Financial Studies \n\n\nRafael Repullo\, Professor of Economics at the Center for Monetary and Financial Studies (CEMFI)\, will be visiting Columbia to host a two-part mini course series on the topic of “The Transmission of Monetary Policy when Banks have Market Power.” Please see the detailed information below for further course information and to RSVP. \nMini Course Series\, Part 2: “Interest Rates\, Market Power\, and Financial Stability (with David Martinez-Miera)“ \n\n\nDate: Thursday\, February 27\, 2025\nTime: 10:00 am – 12:00 pm\nLocation: IAB 1027\n\n\n\nAbstract:\nThis paper shows that banks’ market power is key to assessing the effects of safe rates on their risk-taking decisions. We consider an economy where banks have market power in lending and privately monitor loans\, which reduces their probabilities of default. We show that lower safe rates lead to lower margins and higher risk-taking when banks have low market power\, but the result is reversed for high market power. We show that the reversal is stronger when deposits are insured\, and it is robust to introducing market power in deposits and endogenous bank leverage.\nPlease note that an RSVP is required to attend this event.  \nPlease click here to RSVP. \n  \nLight refreshments will be served. \n  \n
URL:https://econ.columbia.edu/event/per-mini-course-part-2-professor-rafael-repullo/
LOCATION:International Affairs Building\, 10th Floor
CATEGORIES:PER,PER Events
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