Learning in Macroeconomics and Finance, 19-20 June, Barcelona


Balmes Building (UPF) – Balmes 132, Barcelona

Download the program here

June 19

09:00-11:00. Session 1 Chair: Roger Guesnerie 

- TE BAO (University of Groningen) : “When Speculators Meet Constructors: an Experiment on Supply Elasticity and Price Stability in the Housing Market” (with Cars Hommes).

- BASIT ZAFAR (FRB of NY): “The Price is Right: Updating Inflation Expectations in a Randomized Price Information Experiment” (with Olivier Armantier, Scott Nelson, Giorgio Topa and Wilbert Van Der Klaauw)

11:00-11:30. Coffee-break* 

11:30-13:30. Session 2 Chair: Juan Francisco Jimeno 

- GAETANO GABALLO (Banque de France): “Breaking the Spell with Credit Easing. Self-Confirming Credit Crises in Competitive Search Economies” (with Ramon Marimon)

- MINGHAO LI (Peking University): “Optimal Monetary Policy With Asymmetric Shocks And Rational Inattention” (with Ho-Mou Wu)

13:30-14:30. Lunch*

14:30-16:30. Session 3 Chair: Albert Marcet 

- JESS BENHABIB (New York University): “Sentiments and Aggregate Demand Fluctuations” (with Pengfei Wang and Yi Wen)

- ANNA ORLIK (Federal Reserve System): “Understanding Uncertainty Shocks and the Role of the Black Swan” (with Laura Veldkamp)

16:30-17:00. Coffee-break*


June 20

9:00-11:00. Session 1 Chair: Ramon Marimon 

- PEI KUANG (University of Birmingham): “Learning about Trends and Business Cycle Fluctuations” (with Kaushik Mitra)

- BRUCE MCGOUGH (University of Oregon): “Eductive stability in real business cycle models” (with George Evans and Roger Guesnerie)

11:00-11:30. Coffee-break* 


11:30-13:30. Session 2 Chair: Olympia Bover 

- HECTOR F. CALVO-PARDO (University of Southampton): “Subjective Return Expectations, Information and Stock Market Participation: Evidence from France” (with Luc Arrondel and Derya Tas)

- ALBERT MARCET (ICREA-IAE and Barcelona GSE): “Stock Price Booms and Expected Capital Gains” (with Klaus Adam and Johannes Beutel)

13:30-14:30. Lunch*


14:30-16:30. Session 3 Chair: Ho-Mou Wu 

- WILFREDO MALDONADO (Catholic University Of Brasilia): “Expectations Coordination Failures and Sunspot Equilibrium” (with Aloisio Araujo, M. Choubdar, D. Pinheiro and A.A. Pinto)

- CHRISTOPHE CHAMLEY (Paris School of Economics): “Does the Delay Option Facilitate Coordination Between a Large Number of Agents?” (with Lucia Esposito)

16:30-17:00. Coffee-break*

Workshop Organizers

George Evans (University of Oregon and University of St Andrews), Roger Guesnerie (College de France and Paris School of Economics), Juan F. Jimeno (Bank of Spain), Albert Marcet (ICREA-IAE, MOVE and Barcelona GSE), Ramon Marimon (European University Institute, UPF and Barcelona GSE), Ho-Mou Wu (Peking University)

The workshop is jointly organized by the Barcelona Graduate School of Economics, the Research Department of the Bank of Spain and the International Network on Expectational Coordination (INEXC) The organizers gratefully acknowledge the financial support of INEXC, in connection with Paris School of Economics, and the Spanish Ministry of Economy and Competitiveness, through the “Severo Ochoa” Programme for Centres of Excellence in R&D” (SEV-2011-0075).

* Meals are provided by the organization