VIAN - EBP

Next webinar: Research in Vietnam: Data, Results, and Future Challenges
Prof. Finn Tarp - University of Copenhagen

9:00 AM Tuesday, March 21, Vietnam Time
10:00 PM EST, Monday March 20, US Time
Location:
Zoom Link: https://us06web.zoom.us/meeting/register/tZAuf-ivqz4sH92lCSdPN3-hynWftAlN_7N7

Abstract
Professor Finn Tarp has for almost 25 years been an active researcher, research leader and policy advisor in Vietnam, involved together with a large number of international colleagues in a number of large-scale research and capacity-building programmes, funded in large measure, but by no means exclusively, by Danida. Following three years of in-country work based at the Central Institute of Economic Management (CIEM) from 2000, he has as Professor at the University of Copenhagen and Director of UNU-WIDER visited Vietnam some four times a year in relation to ambitious and wide-ranging research collaboration with various Vietnamese institutions including CIEM, ILSSA, IPSARD/CAP, GSO, among others. He has been awarded the Vietnamese Government Medal of Honour for Support to the Planning and Investment System and the Vietnamese Government Development Merit Medal for the Cause of Science and Technology. In this seminar he will speak about his professional experiences in Vietnam, give an overview of the data and research produced, and reflect on future challenges. The data sets produced under Finn Tarp’s guidance has been widely used in both academic publications and in numerous theses and dissertations focused on Vietnamese development issues.
More information about Dr. Finn Tarp
Dr. Finn Tarp is a leading international academic on issues of development strategy and foreign aid, with an interest in poverty, inequality, agricultural sector policy and planning, household and enterprise development, and climate change, sustainability, and natural resources. Have published widely in leading scientific journals and academic books. He has published 133 internationally refereed journal articles, 6 books, 30 edited book volumes/special journal issues, and 72 book chapters. Dr. Tarp was previously the Director of UNU-WIDER in Helsinki, Finland. See www.econ.ku.dk/ftarp for full details (including a large number of studies and publications on Vietnam).

DERG - Department of Economics, University of Copenhagen Finn Tarp, former Director UNU-WIDER and University of Copenhagen Professor. Leading international scholar on development strategy and foreign aid, with expertise in poverty, income distribution and growth

Next webinar: Downward Nominal Rigidities and Term Premia
Francois Gourio
Federal Reserve Bank of Chicago

8:00 PM EST, Thursday February 23, US Time
8:00 AM Friday, February 24, Vietnamese Time

Zoom Link: https://csuohio.zoom.us/j/89865701572

Abstract
We develop a macro-finance asset pricing model with downward nominal rigidi-ties and show that it helps explain both secular and cyclical movements in term premia. The asymmetry in nominal rigidities implies that when inflation is high, nominal rigidities are less relevant, leading to larger output and inflation responses to a productivity shock. As a result, when inflation is high, the consumption-inflation covariance is more negative, making the bond premium larger. This mechanism accounts for the downward trend in the term premium since the early 1980s due to the decline of inflation. Our model also generates substantial cyclical variation in term premia (i.e. the Campbell-Shiller or Fama-Bliss predictability of bond returns), as well as other compelling macroeconomic and finance properties, such as the negative skewness of output, positive skewness of inflation, and time variation in the covariance of stock and bond returns.

About Francois Gourio
Dr. Gourio's research and teaching interests lie mostly in the fields of macro-finance, investment, and business cycles. He is currently a senior economist and economic advisor at the Federal Reserve Bank of Chicago. Before joining the Fed, Dr. Gourio was an associate professor of economics at Boston University. He also served as associate editor at the Journal of Monetary Economics. Dr. Gourio has published his research in top economics journals, including American Economics Review, Review of Economic Studies, Journal of Monetary Economics, Journal of Financial Economics, and American Economic Journal: Macroeconomics. You can find more information about Dr. Gourio’s research using the following website https://scholar.google.com/citations?user=TrMXxs4AAAAJ&hl=en

Francois Gourio Senior Economist and Economic Advisor, Federal Reserve Bank of Chicago - Cited by 3.827 - Macroeconomics - Investment - Business Cycles - Finance