Learning Conference “Expectations in Dynamic Macroeconomic Models”

6-8 September, Amsterdam

Tuesday 6 September

12.00 – 13.30      Registration  at De Nederlandsche Bank (DNB)

12.00 – 13.00      Jim Bullard in Room for Discussion, live-stream at DNB

13.00 – 14.00      Lunch

14.00 – 14.10      OPENING by Jan Marc Berk, Director of the Economics and Research division DNB

14.10 – 15.10      KEYNOTE LECTURE by George  Evans, Tutorial on Adaptive learning in Macroeconomics

15.10 – 16.10      Roger Guesnerie, "Eductive" learning in macroeconomics, an introductory overview

16.10 – 16.30      Coffee Break

16.30 – 17.10      Luba Petersen, Coordinating Expectations through Central Bank Projections, (with Fatemeh Mokhtarzadeh) Discussant Isabelle Salle

17.10 – 17.50      Te Bao, When Speculators Meet Constructors: Positive versus Negative Feedback in Experimental Housing Markets (with Cars Hommes) Discussant Damjan Pfajfar

17.50 – 18.30      Jasmina Arifovic, Learning to believe in simple equilibria in a complex OLG economy – evidence for the lab (with Cars Hommes and Isabelle Salle) Discussant Jan Tuinstra


Wednesday 7 September

09.00 – 10.00      Jesús Vázquez, The sources of aggregate persistence in an estimated DSGE model with real-time learning (with Pablo Aguilar) Discussant Sergey Slobodyan

10.00 – 11.00      Yuliya RychalovskaFinancial Frictions, Expectations and Business Cycle: Evidence from an Estimated DSGE Model (with Sergey Slobodyan and Rafael Wouters) Discussant Bruce McGough

11.00 – 11.30      Coffee Break

11.30 – 12.30      Stefano Eusepi, The Term Structure of Expectations and Bond Yields (with Richard Crump and Emanuel Moench) Discussant Arunima Sinha

12.30 – 14.00      Lunch + POSTER SESSION 1

14.00 – 15.00      Guido Ascari, Rational Sunspots (with Paolo Bonomolo and Hedibert Lopes) Discussant Roger Guesnerie

15.00 – 16.00      Charles Brendon, Self-Fulfilling Recessions at the Zero Lower Bound (with Matthias Paustian and Tony Yates) Discussant Gavin Goy

16.00 – 16.30      Coffee Break

16.30 – 17.30      Marco Airaudo, Monetary Policy and Asset Prices with Infinite-Horizon Learning Discussant Joep Lustenhouwer

17.30 – 18.45      KEYNOTE LECTURE by Bruce Preston, Optimal monetary policy under imperfect knowledge

20:00                  CONFERENCE DINNER, dinner speech by Jim Bullard


Thursday 8 September

09.00 – 10.00      Fabian Winkler, The Role of Learning for Asset Prices, Business Cycles, and Monetary Policy Discussant Gregor Böhl

10.00 – 11.00      Patrick Pintus/ Jacek Suda, Learning Financial Shocks and the Great Recession (With Patrick Pintus/ Jacek Suda) Discussant Stefano Eusepi

11.00 – 11.30      Coffee Break

11.30 – 12.30      In-Koo Cho, Doubts, inequality and bubbles (with Kenneth Kasa) Discussant Chris Gibbs

12.30 – 14.00      Lunch + POSTER SESSION 2

14.00 – 15.15      KEYNOTE LECTURE by Seppo Honkapohja, Expectations, Stagnation and Fiscal Policy


Poster Session 1:

  • Alessandro Gobbi (Università Cattolica del Sacro Cuore), Transparency, Expectations Anchoring and Inflation target
  • Michael Hatcher (University of Southampton) Inflation versus price-level targeting in an economy with heuristics switching and ZLB on nominal interest rates.
  • Joep Lustenhouwer (University of Amsterdam), Managing heterogeneous and unanchored expectations: a monetary policy analysis (with Cars Hommes). 
  • Peter Lihn Jorgensen (University of Copenhagen), House price booms in a heuristics switching model.
  • Felix Mauersberger (University Pompeu Fabra), Monetary Policy Rules in a Non-Rational World: A Macroeconomic Experiment

Poster Session 2:

  • Eric Gaus (Ursinus College), Expectations and the Empirical Fit of DSGE Models (with Chris Gibbs)
  • Mauro Napoletano (SKEMA, Nice), Expectation formation and macroeconomic performance when agents are heterogeneous and the world is changing.
  • Wei Xiao (Binghamton University), the Epidemiology of Expectations In A New Keyenesian Model (with Yangyang Ji)
  • Gregor Böhl (University of Amsterdam), Stability and Monetary Policy in Economies with Speculative Stock Markets
  • Tomasz Makarewicz (University of Amsterdam), Experimental study on the effect of nominal price level versus inflation targeting with and without guidance. (with Cars Hommes)
De Nederlandsche Bank

Published by  Economics and Business

12 June 2017