New paper with @CosminIlut and @hpfilter. Under Smooth Diagnostic Expectations, agents' over-reaction depends on the level of uncertainty. This provides a parsimonious explanation for over-reaction and over-confidence and key business cycle facts
New paper with @CosminIlut and @hpfilter. Under Smooth Diagnostic Expectations, agents' over-reaction depends on the level of uncertainty. This provides a parsimonious explanation for over-reaction and over-confidence and key business cycle facts
Embedding smooth diagnostic expectations in a real business cycle model accounts for overreaction and overconfidence as well as key properties of the business cycle, from @Francesco_Bia, @CosminIlut, and @hpfilternber.org/papers/w32152
We (Yuichiro Kamada, Toshihiko Mukoyama, and I) will tweet about Japanese job candidates! This is an initiative by a few volunteers of Japanese economists. We were helped by many senior Japanese colleagues when we were juniors/grad students.
#EconTwitter, I'm super excited to say I'm finally on the #EconJobMarket ! I'm a #EconJMC from @ucsc
Ever wonder how Chinese monetary policy matters on the global stage?
Answer? Supply Chains!
Here's a brief 🧵on my JMP, coauthored with my classmate @anirbansanyal83
@USC_Econ@RuoziSong@wb_research . @USC_Econ had a strong 2022-2023 PHD placement year but going forward our PHD students who seek a TT Assistant Prof job must have a revise and resubmit or an acceptance at a serious journal before they go on the market. How do you credibly signal skill and ambition?
``We integrate the diagnostic expectations paradigm into general equilibrium macro models. The feedback effect between actions and beliefs generates endogenous boom-bust cycles.''
From @Francesco_Bia, @CosminIlut and @hpfilter:
restud.com/paper/diagnost…
We'll tweet about Japanese econ job candidates on the 2023 job market! This is an initiative by a few volunteers of Japanese economists (started last year). We were helped by many senior Japanese colleagues when we were juniors/grad students.
A fantastic SITE 2022 session - The Macroeconomics of Uncertainty and Volatility. ~20 presentations illustrating the richness & breadth of research around this topic, and so fun to finally meet up in person!
The NBER Monetary Economics (@nberpubs) spring program meeting is tomorrow. The meeting is being co-organized by our very own Cynthia Wu (@JCynthiaWu). The schedule can be found here:
nber.org/conferences/mo…
Tokyo University professor Taisuke Nakata has an interesting thread here on how authorities find it difficult to call time on quasi-state of emergency (mambo) measures, and notes the likelihood that they'll be introduced again in subsequent waves, delaying Japan's recovery.
Tokyo University professor Taisuke Nakata has an interesting thread here on how authorities find it difficult to call time on quasi-state of emergency (mambo) measures, and notes the likelihood that they'll be introduced again in subsequent waves, delaying Japan's recovery.
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