Vous êtes ici: UNIL > HEC Inst. > HEC App. > DEEP > Séminaires >
Français | English

DEEP Séminaires en Macroéconomie

The DEEP organizes a workshop covering a wide array of Macro topics, including growth, business cycles, monetary models, equilibrium asset pricing, labor markets, macro-econometrics, …

Presentations are 1h15, including questions from the audience. The workshop is open to external and internal speakers. 

Send an email to Fang.Liu.2@unil.ch for further information.

Indeterminacy and Imperfect Information

Elmar Mertens (Bank for International Settlements )

7 mars 2017  -  12:15-13:30, salle Extranef 109

Host(s): Philippe Bacchetta


We study equilibrium determination in an environment where two kinds of agents have different information sets: The fully informed agents know the structure of the model and observe histories of all exogenous and endogenous variables. The less in- formed agents observe only a strict subset of the full information set. All types of agents form expectations rationally, but agents with limited information need to solve a dynamic signal extraction problem to gather information about the variables they do not observe. We show that for parameters values that imply a unique equilibrium under full information, the limited information rational expectations equilibrium can be indeterminate. In a simple application of our framework to a monetary policy problem we show that limited information on part of the central bank implies indeterminate outcomes even when the Taylor Principle holds. 

Liste des prochaines séances

28 novembre 2017 Andreas Tischbirek (UNIL)
12:15-13:30, salle Extranef 109

click here [↓] to go to the attached pdf
>> Liste des séances précédentes

Ajouter au calendrier

Affichez toutes les sessions dans votre calendrier! Ajoutez notre ICS webcal à votre agenda.

  Ajouter à mon agenda


Recevoir les annonces par e-mail

Abonnez-vous à notre mailing-list pour recevoir les annonces de tous nos séminaires.

  S'abonner / Se désabonner
Internef - CH-1015 Lausanne - Suisse - Tél. +41 21 692 33 00 - Fax +41 21 692 33 05