First INEXC Conference, 27-28-29 June 2012, Paris

INEXC : International Network on Expectational Coordination.

Paris Conference, 27-28-29th June 2012.

Morning sessions are devoted to survey presentations of some of the competing directions for a critical reassessment of the Rational Expectations Hypothesis. Afternoon sessions are devoted to presentations of the recent work of network members. In case, last minute changes would be announced on June 24th.

Wednesday 27th June : – Salle 5 – (Collège de France, 11 Place Marcelin Berthelot, 75005 Paris)

Morning : 10h – 13h

  • Florian Wagener, (Amsterdam), “Experiments and Expectations”. [Slides]
  • Mordecai Kurz, (Stanford), “Rational Beliefs”. [Slides]

Afternoon : 14h15 – 17h 15

  • Juliane Begenau, Monika Piazzesi and Martin Schneider, (Stanford), “Trading Interest Rate Risk in Derivative Markets”.
  • Alberto Bisin, Andrea Moro and Giorgio Topa, (NYU), “The Empirical Content of Models with Multiple Equilibria in Economies with Social Interactions”.
  • Hector Calvo-Pardo, Derya Tas, (Southampton), “Subjective Return Expectations, Information and Stock Market Participation: Evidence from France”.
  • Ho-Mou Wu, (Beijing), “Endogenous Leverage and Endogenous Uncertainty with Heterogeneous Expectations”.
  • Carsten K. Nielsen, (Milano), “Rational Overconfidence and Social Security”.

Thursday 28th June : – Conference room – (Collège de France, 3 rue d’Ulm, 75005 Paris)

Morning : 9h30 – 12h30

  • George Evans, (Oregon), “Adaptive Learning”. [Slides]
  • Roger Guesnerie, (Paris), “Eductive Learning”. [Slides]

Afternoon : 14h15 – 16h45

  • Jess Benhabib, Pengfei Weng, (NYU), “Collateral Constraints and Self-Fulfilling Beliefs”. [Paper] [Slides]
  • Elchanan Ben Porath, (Jerusalem), “Trade with Heterogeneous Beliefs”. [Slides]
  • George Evans, Bruce Mc Gough, (Oregon), “Stable Near-Rational Sunspot Equilibria”.
  • Bruce Preston, (Columbia), “Learning Dynamics and Monetary Policy”. [Slides]

Evening : network meeting, 17h30 and dinner, 20h.

Friday 29th June : – Salle 5 – (Collège de France, 11 Place Marcelin Berthelot, 75005 Paris)

Morning : 9h30 – 12h30

  • Gabriel Desgranges, (Paris), “Global Games and Coordination”.
  • Mike Woodford, (Columbia), “Rational Inattention and Coordination”.

Afternoon : 14h – 17h30

  • Gabriel Desgranges, Sayantan Ghosal, (Warwick), “P-Stable Equilibrium : Definition and Some Properties”.
  • Williams Brock, Cars Hommes and Assenza Tiziana, (Amsterdam), “Animal Spirits, Heterogeneous Expectations and the Amplification and Duration of Crises”.
  • Gaetano Gaballo, (Paris), “Endogenous Signals and Multiplicity”.
  • Kashuk Mitra, George Evans and Seppo Honkapohja, “Fiscal Policy and Learning”.
  • Rosemarie Nagel, (ICREA-UPF-BGSE), Andrea Brovelli, Frank Heinemann, and Giorgio Coricelli, “Assessing Strategic Risk in Coordination Games with FMRI”.
  • Rodrigo Harrison, Pedro Jara, (Santiago), “Global Games with Strategic Substitutes”.

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