BEGIN:VCALENDAR VERSION:2.0 PRODID:-//AMSE//Event Calendar//FR CALSCALE:GREGORIAN METHOD:PUBLISH BEGIN:VEVENT UID:event-11147@amse-aixmarseille.fr DTSTAMP:20260430T164201Z CREATED:20260430T164201Z LAST-MODIFIED:20260430T164201Z STATUS:CONFIRMED SEQUENCE:0 SUMMARY:phd seminar - Aurélien Espic*\, Matteo Santangelo Ravà** DTSTART:20240604T090000Z DTEND:20240604T103000Z DESCRIPTION:*This paper studies the role of capital requirements in a conte xt of monetary tightening. We build a new Keynesian model featuring costly defaults for banks\, households\, and firms\, and estimate it on Euro Area data between 2002 and 2023. We first identify the sources of this unprecede nted episode before studying its propagation along financial variables. We then build various counterfactuals to assess how capital requirements have affected the transmission of this shock. We find that although capital requ irements reduced the post-Covid expansion\, they preserved macroeconomic st ability by reducing banks probability of default. More generally\, we show that capital requirements do not need to be countercyclical to be efficient : in an inflationary context\, they act as automatic stabilizers\, by limit ing the amplitude of expansionary as well as recessionary shocks.\\n\\nCont act: Lucie Giorgi : lucie.giorgi[at]univ-amu.frRicardo Guzman : ricardo.guz man[at]univ-amu.frNatalia Labrador : natalia.labrador-bernate[at]univ-amu. frNathan Vieira : nathan.vieira[at]univ-amu.fr\n\nPlus d'informations: http s://amse-aixmarseille.fr/fr/evenements/aur%C3%A9lien-espic-matteo-santangel o-rav%C3%A0 LOCATION:Îlot Bernard du Bois - Salle 13\, AMU - AMSE\, 5-9 boulevard Maur ice Bourdet\, 13001 Marseille URL;VALUE=URI:https://amse-aixmarseille.fr/fr/evenements/aur%C3%A9lien-espic-matteo-santangelo-rav%C3%A0 CONTACT:Lucie Giorgi : lucie.giorgi[at]univ-amu.frRicardo Guzman : ricardo. guzman[at]univ-amu.frNatalia Labrador : \;natalia.labrador-bernate[at]u niv-amu.frNathan Vieira : nathan.vieira[at]univ-amu.fr TRANSP:OPAQUE END:VEVENT END:VCALENDAR