Objective
The current financial crisis raises fundamental questions concerning macroeconomics, banking stability, and economic policy. As standard macroeconomic models provide insufficient guidance on how to respond to the crisis, policy makers in Europe and elsewhere have repeatedly intervened with a combination of largely untested monetary and fiscal policy measures that comprise liquidity provision, quantitative easing, nationalisation, as well as other subsidies.
While the microeconomics of banking is well understood, standard macroeconomics has failed to
allow adequately for a financial sector. Systemic risks in the banking sector cannot be analysed in a dynamic framework.
MACROBANK closes this gap by developing a novel dynamic macroeconomic model
with a micro-founded banking sector. It aims at developing a theoretical foundation and a tool box for policy makers to analyse and assess the effectiveness of possible crisis intervention strategies to improve the overall understanding of crisis intervention and their effects on the economy. Extending Gersbach and Wenzelburger (2011), MACROBANK’s novel model allows to investigate the effectiveness of new crises intervention measures dynamically and to simulate policy strategies. It focuses on debt reduction, inflation control, and on how central bank activities can be restored to pre-crisis levels. Welfare distributional aspects of interventions are also considered.
The novelty and expected impact of the proposed research will increase the EU’s excellence, and the applicants teaching activities will train young researchers exposing them to cutting-edge research in economics. Thus, the proposed project leads to knowledge transfer within and into the ERA, integration of a researcher, and introduction of a promising new research approach in Europe,
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences economics and business economics macroeconomics
- social sciences economics and business economics microeconomics
You need to log in or register to use this function
We are sorry... an unexpected error occurred during execution.
You need to be authenticated. Your session might have expired.
Thank you for your feedback. You will soon receive an email to confirm the submission. If you have selected to be notified about the reporting status, you will also be contacted when the reporting status will change.
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP7-PEOPLE-2012-CIG
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MC-CIG - Support for training and career development of researcher (CIG)
Coordinator
67663 Kaiserslautern
Germany
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.