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CITD organises a seminar by Vivek Sharma

CITD organises a seminar by Vivek Sharma

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CITD organises a seminar by Vivek Sharma
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Centre for International Trade and Development (CITD)
School of International Studies (SIS)
Jawaharlal Nehru University (JNU)
 

is organising a seminar on

 

Real Effects of Bank Shocks

 

Vivek Sharma
Department of Economics
University of Lancaster Management School
United Kingdom


Abstract : What are the effects of bank shocks in an economy featuring bank-firm lending relationships and what is the propagation mechanism? This paper builds a dynamic general equilibrium model in which collateral constrained entrepreneurs have endogenously persistent credit relationships with banks. A bank shock in this model takes the form of a negative shock to loan repayments and drives up credit spread. Bank credit falls and a downturn in macroeconomic activity ensues. These effects are initially amplified by presence of lending relationships but macroeconomic activity later recovers faster boosted by recovery in bank loans. When credit relationships are turned off, the model predicts prolonged slowdown in investment, consumption and output. These results indicate how borrower-lender relationships can act both as financial accelerator and as an economic stabilizer.

 

Date: October 24, 2024
Time : 2-3 pm
Venue: Room 226, SIS-II

A warm welcome to the modified and updated website of the Centre for East Asian Studies. The East Asian region has been at the forefront of several path-breaking changes since 1970s beginning with the redefining the development architecture with its State-led development model besides emerging as a major region in the global politics and a key hub of the sophisticated technologies. The Centre is one of the thirteen Centres of the School of International Studies, Jawaharlal Nehru University, New Delhi that provides a holistic understanding of the region.

Initially, established as a Centre for Chinese and Japanese Studies, it subsequently grew to include Korean Studies as well. At present there are eight faculty members in the Centre. Several distinguished faculty who have now retired include the late Prof. Gargi Dutt, Prof. P.A.N. Murthy, Prof. G.P. Deshpande, Dr. Nranarayan Das, Prof. R.R. Krishnan and Prof. K.V. Kesavan. Besides, Dr. Madhu Bhalla served at the Centre in Chinese Studies Programme during 1994-2006. In addition, Ms. Kamlesh Jain and Dr. M. M. Kunju served the Centre as the Documentation Officers in Chinese and Japanese Studies respectively.

The academic curriculum covers both modern and contemporary facets of East Asia as each scholar specializes in an area of his/her interest in the region. The integrated course involves two semesters of classes at the M. Phil programme and a dissertation for the M. Phil and a thesis for Ph. D programme respectively. The central objective is to impart an interdisciplinary knowledge and understanding of history, foreign policy, government and politics, society and culture and political economy of the respective areas. Students can explore new and emerging themes such as East Asian regionalism, the evolving East Asian Community, the rise of China, resurgence of Japan and the prospects for reunification of the Korean peninsula. Additionally, the Centre lays great emphasis on the building of language skills. The background of scholars includes mostly from the social science disciplines; History, Political Science, Economics, Sociology, International Relations and language.

Several students of the centre have been recipients of prestigious research fellowships awarded by Japan Foundation, Mombusho (Ministry of Education, Government of Japan), Saburo Okita Memorial Fellowship, Nippon Foundation, Korea Foundation, Nehru Memorial Fellowship, and Fellowship from the Chinese and Taiwanese Governments. Besides, students from Japan receive fellowship from the Indian Council of Cultural Relations.