Leader: Ramon Marimon
The members of the Barcelona node of the Project on “Expectational Coordination and Financial Markets” are members – or associated with – the Barcelona Graduate School of Economics. There are two main areas of research. Klaus Adam (Manheim University), Gaetano Gaballo (European University Institute, joining the Banque de France, Fall 2011), Albert Marcet (London School of Economics, joining the Institute of Analisi Economica -CSIC and BarcelonaGSE, Fall 2011) and Ramon Marimon (European University Institute and BarcelonaGSE – UPF) research is on expectations and learning in macroeconomics and finance. Empirical implications and policy design when subjective and objective beliefs may not coincide; the role of imperfect information about others’ beliefs in generating non-fundamental business fluctuations; explaining expectations-driven boom and bust cycles of asset prices with rationally investing agents; the role of competition in enhancing coordination of beliefs and innovation. Antoni Bosch-Domenech (Universitat Pompeu Fabra and BarcelonaGSE), jointly with Nagore Iriberri and Rosemarie Nagel, studies experimentally the formation of beliefs and expectations in coordination games with strategic complements or substitutes.