Objective
"The research under this proposal aims at a better understanding of monetary policy in light of the recent events following the financial crisis. There are three main objectives. The first is to study monetary policy in models where financial securities have different liquidity properties which could vary over time and be subject to sudden changes. The new framework will address the mechanisms at the root of the financial crisis and its propagation to real economic activity and at the same time study the appropriate policy responses and the forthcoming exit strategies. The second objective aims at extending the analyses of optimal monetary policy to abnormal times where deleveraging or liquidity shocks bring the nominal interest rate to the zero lower bound and more unconventional policies are needed. The third objective is directed to study open-economy models where the liquidity properties of financial securities affect the conduct of monetary policy, as in a currency area in which sovereign debt of some countries loses its safe-asset status or in small open economies challenged by imperfect credibility in the domestic fiat-money system."
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.
ERC-2013-CoG
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.
Host institution
00198 Roma
Italy
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.