International Workshop: Expectations, Indeterminacy and Economic Policy

Vendredi 28 Septembre 2007 - Samedi 29 Septembre 2007


International Workshop
Expectations, Indeterminacy and Economic Policy

September, 28-29th 2007
University of Paris X
'B' Building, conferences room

Macroeconomic models with rational expectations can display several types of indeterminacies. These phenomena renew the way economic policies can be considered. The purpose of the Workshop is to develop some reflections on the roles of learning and economic policy as selection criteria. 

Papers will deal with the following themes:

  • Formation of expectations and economic policy
  • Learning and coordination of expectations
  • Indeterminacy and equilibrium selection
  • Economic policies and in/determinacy
  • Monetary policy design (optimal monetary policy, Taylor’s rule)
  • Fixed prices and monetary policy

Registration form

International Workshop
Expectations, Indeterminacy and Economic Policy

September, 28-29th 2007
University of Paris X
'B' Building, conferences room

FRIDAY

09h30: Welcome

10h00-11h15: M. AIRAUDO (Collegio Carlo Alberto), Luis Felipe ZANNA (FED Washington)
"Learning About which Measure Inflation to Respond to in an Interest Rate Rule"
Discussant: Bruce McGOUGH (University of Oregon)

11h15-12h30: Frédéric DUFOURT (BETA, Université Strasbourg I), Teresa LLOYD-BRAGA (Catholic University of Portugal),
L. MODESTO (Catholic University of Portugal)
" Sunspot Equilibria with Persistent Unemployment Fluctuations"
Discussant: L. JULIEN (EconomiX, University of Paris X-Nanterre)

12h30-14h00: Lunch break

14h00-15h00: Jean-Pascal BENASSY (CNRS & Cepremap)
"Interest Rate Rules and Determinacy: An Alternative to the Taylor Principle"

15h00-16h15: George W. EVANS (Oregon University), Erad GUSE (Cambridge University) and Seppo HONKAPOHJA (Cambridge University)
"Liquidity Traps, Learning and Stagnation"
Discussant: B. CRETTEZ (EconomiX, University of Paris X-Nanterre)

16h15-16h45: Coffee break

16h45-18h00: Roger GUESNERIE (Collège de France, PSE), Pedro JARA-MORONI (PSE)
"Expectational Coordination in a class of Economic Models: Strategic Substituabilities versus Strategic Complementarities"
Discussant: George W. EVANS (University of Oregon)

SATURDAY

9h15-10h30: William A. BRANCH (UCLA), Bruce McGOUGH (University of Oregon)
"A New Keynesian Model with Heterogenous Expectations"
Discussant: George W. EVANS (Oregon University)

10h30-10h45: Coffee break

10h45-11h45: Olivier LOISEL (Banque de France)
"Bubble Free Interest Rate Rules"

11h45-12h45: M. BAMBI (European Institute, Florence), A. SAIDI (EconomiX, University of Paris X-Nanterre)
"Increasing Returns to Scale and Welfare: Ranking the Multiple Deterministic Equilibria
Discussant: L. JULIEN (EconomiX, University of Paris X-Nanterre)

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