【ECON20161220】
宏觀經濟學研討會 （總第215期）  
【時間】2016年11月23日（周三）12：15－13：45 【地點】明商0302教室 【主講】黃源 中國人民大學經濟學院 【主題】Are Low Interest Rates De?ationary? (M. García-Schmidt & M. Woodford, Working Paper, 2015) 【摘要】We illustrate a pitfall that can result from the common practice of assessing alternative monetary policies purely by considering the perfect foresight equilibria (PFE) consistent with the proposed rule. In a standard New Keynesian model, such analysis may seem to support the “Neo-Fisherian” proposition according to which low nominal interest rates can cause inflation to be lower. We propose instead an explicit cognitive process by which agents may form their expectations of future endogenous variables. Under some circumstances, a PFE can arise as a limiting case of our more general concept of reflective equilibrium, when the process of reflection is pursued sufficiently far. But we show that an announced intention to fix the nominal interest rate for a long enough period of time creates a situation in which reflective equilibrium need not resemble any PFE. 【主持】陳彥斌 教授

     人大宏觀經濟學研討會（Macro Workshop）旨在追蹤宏觀經濟學國際最新進展，倡導構建符合國情的動態優化模型，并使用計算機模擬研究經濟增長、收入分配和宏觀政策等中國宏觀經濟重大問題。 聯系人：劉哲希    Email：Macro_Workshop@163.com 資料下載：www.docin.com/mydoc-88265459-1.html 更多講座信息請訪問：www.dehf4y.cn，www.yanjiuyuan.com.cn，通過微信搜索公眾號“大宏觀”或掃描以下二維碼關注“大宏觀”

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