【ECON20151209】


宏观经济学研讨会 （总第182期）

【时间】2015年5月20日（周三）12：15－13：45
【地点】明商0202教室
【主讲】万冲  中国人民大学经济学院
【点评】周璇 中国人民大学经济学院助理教授  美国印第安纳大学经济学博士
【主题】Stabilizing Expectations under Monetary and Fiscal Policy Coordination (written by Stefano Eusepi and Bruce Preston, 2008)
【摘要】This paper analyzes how the formation of expectations constrains monetary and fiscal policy design. Economic agents have imperfect knowledge about the economic environment and the policy regime in place. Households and firms learn about the policy regime using historical data. When agents are learning about the policy regime, there is greater need for policy coordination. In contrast, non-Ricardian fiscal policies combined with an interest rate peg promote stability. However, there are limits to the benefits of communicating the monetary policy regime: the more heavily indebted the economy, the greater is the likelihood of expectations-driven instability. More generally, when expectations are anchored in the long term, short-term dynamics display greater volatility than under rational expectations.
【主持】陈彦斌 教授


        人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。
联系人：郭豫媚    Email：Macro_Workshop@163.com
资料下载：www.docin.com/mydoc-88265459-1.html
更多讲座信息请访问：econ.ruc.edu.cn，www.yanjiuyuan.com.cn





经济学院 中国经济改革与发展研究院