RIEBセミナー
RIEBセミナー
RIEBセミナー
| 日時 | 2023年06月09日(金) 13:20 - 14:50 |
|---|---|
| 会場 | ハイブリッド（対面開催／ZOOMを使ったオンライン開催） |
| 対象 | 教員，院生，および同等の知識をお持ちの方 |
| 使用言語 | 英語 |
| 参加登録 | ※事前登録制です。下記より参加登録をお願い致します。追って、詳細をご連絡いたします。 参加登録 締切：6/5 |
13:20 - 14:50
- 論題
- Diagnostic Expectations and Open Economy Business Cycles
- 報告者
- Seunghoon NA（Department of Economics, Krannert School of Management, Purdue University）
- 概要
- In this paper, we integrate diagnostic expectations (DE) of decision-makers, which are based on the psychological concept of "representativeness heuristic" (Kahneman and Tversky, 1972), into a dynamic open macro model. We investigate how DE influences the dynamic behavior of consumption, investment, and trade balance, compared to the Rational Expectations (RE) benchmark. Additionally, we estimate the DE model to determine the degree of diagnosticity, predict the sources of business cycles, and identify similarities and differences compared to the estimated RE model. Furthermore, we explore how DE might offer potential remedies in cases where the RE model is misspecified.