Pascal Paul @pascalpaul
Economist @sffed researching links between finance, monetary policy, and the macroeconomy. All views are my own. pascalpaul.de San Francisco, CA Joined June 2009-
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Starting Sept 2025: CEPR & @sffed launch a monthly Virtual Seminar on Monetary Economics. Focus: central bank goals, policy design, transmission, & international dimensions. 🗓 First session: 4 Sept | 5PM CET Details 👉 cepr.org/events/event-s… Organisers: @michaelbauer_hh…
Many countries are currently considering the introduction of a CBDC, but there is much uncertainty around the macroeconomic effects. In a recent paper with Mauricio Ulate and Cynthia Wu, we explore those. VoxEU summary👇
Many countries are currently considering the introduction of a CBDC, but there is much uncertainty around the macroeconomic effects. In a recent paper with Mauricio Ulate and Cynthia Wu, we explore those. VoxEU summary👇
Developing a quantitative New Keynesian dynamic stochastic general equilibrium model with monopolistic banks to study the macroeconomic effects of introducing a central bank digital currency, from @pascalpaul, Mauricio Ulate, and @JCynthiaWu nber.org/papers/w33968
🚨Friendly reminder that Saturday, May 31 is the deadline to submit (a) papers to our fall macro-finance conference and (b) nominations for the new Janet Yellen Award for Monetary Research. Details are here: frbsf.org/news-and-media… @sffed @ThomasMMertens @pascalpaul
Very excited to present some new work on evergreening with @pascalpaul and @vediense in Session 121, the dreaded saturday morning SED session. Also check out Session 3 for exciting new work on finance and misallocation with @kozjuli and Jeremy Majerovitz (draft coming very soon)
Very excited to present some new work on evergreening with @pascalpaul and @vediense in Session 121, the dreaded saturday morning SED session. Also check out Session 3 for exciting new work on finance and misallocation with @kozjuli and Jeremy Majerovitz (draft coming very soon)
Great conference! Consider submitting your best macro-finance papers🙏 Also check out the new Janet Yellen Award for outstanding contributions to macro-finance/monetary economics 👇
Great conference! Consider submitting your best macro-finance papers🙏 Also check out the new Janet Yellen Award for outstanding contributions to macro-finance/monetary economics 👇
This has been a while in the making but now we're live! You can check out our research, events and data products at frbsf.org/CMR and subscribe to our mailing list to stay in the loop. Thanks to @sylvainecon @ThomasMMertens and @pascalpaul for making this possible!
This has been a while in the making but now we're live! You can check out our research, events and data products at frbsf.org/CMR and subscribe to our mailing list to stay in the loop. Thanks to @sylvainecon @ThomasMMertens and @pascalpaul for making this possible!
Launched today🚀The new Center for Monetary Research @sffed 🚀 Check out the website with data, research, and events on monetary economics and macro-finance 👇 founded together with my colleagues @michaelbauer_hh, @ThomasMMertens, and @sylvainecon 👏
Launched today🚀The new Center for Monetary Research @sffed 🚀 Check out the website with data, research, and events on monetary economics and macro-finance 👇 founded together with my colleagues @michaelbauer_hh, @ThomasMMertens, and @sylvainecon 👏
📢 We're excited to welcome @pascalpaul from @sffed next Tuesday for a seminar in macroeconomics. He'll present: "A Macroeconomic Model of Central Bank Digital Currency". Don't miss this insightful discussion!🌟#UnilEcon #ThisIsEconomics 👉 Details: bit.ly/4ewgM3X
🚨Call for papers 🚨 Swiss Conference on Financial Intermediation, to be held at Study Center Gerzensee, March 30-April 2, 2025. Submissions due October 31! Supported by @BIS_org, @cepr_org, @SFI_CH mailchi.mp/cepr/bis-cepr-…
🚨📣 Macro-Finance Conference 📣🚨 October 11 @sffed, Keynote: @LudvigsonSydney Submission deadline: June 30 More infos here: frbsf.org/news-and-media…
Banks facing losses on their securities portfolios cut lending to firms, but mainly when those losses tighten their capital requirements, from @ProfGreenwald, John Krainer, and @pascalpaul nber.org/papers/w32449
Really nice paper!
Very excited to see Evergreening published in the JFE 😃
Very excited to see Evergreening published in the JFE 😃
“Owe your banker £1,000 and you are at his mercy; owe him £1 million and the position is reversed.” Keynes. We evaluate this idea (with @mfariacastro @pascalpaul) using data on bank-firm relationships and incorporating it into a dynamic model. Published!! sciencedirect.com/science/articl…
@federalreserve announces that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11: federalreserve.gov/newsevents/pre…

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