Due to the current situation, and out of concern for the health and wellbeing of our staff and attendees, as well the general population’s safety, we have decided to postpone this seminar until further notice.
The seminar concerns the impact of an extended period of ultra-low interest rates on corporate leverage, credit terms, and business cycle dynamics.
Since the Global Financial Crisis, accommodating monetary policy has fundamentally impacted the terms at which corporate credit is extended, across the developed economies. Generally, power has shifted from creditors to debtors. In a recent study, Professor Roberts has examined how this shift has affected non-price terms in corporate credit. He argues that there will be long-term effects on the scope for renegotiation, and that lock-in effects will make corporate cheap even in the event of rising rates, raising the risk of creditor losses.
Professor Roberts will be joined in the discussion by Swedish commentators who will weigh in on the Swedish context, stability implications, and policy responses.
The Finance Panel is a meeting forum for the financial sector, hosted by SNS and the Swedish House of Finance.
Swedish House of Finance (SHOF) at the Stockholm School of Economics is Sweden’s national research center in financial economics.
Michael Roberts, professor of Finance at the Wharton School of the University of Pennsylvania.
Henrik Braconier, Chief Economist, Economic Analysis, Finansinspektionen
Helena Nordberg, Fixed Income Manager, Svenskt Näringsliv
The meeting is held in English and is moderated by Bo Becker, professor at Swedish House of Finance at the Stockholm School of Economics.