Opendata, web and dolomites

APMPAL-HET SIGNED

Asset Prices and Macro Policy when Agents Learn and are Heterogeneous

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

0

 APMPAL-HET project word cloud

Explore the words cloud of the APMPAL-HET project. It provides you a very rough idea of what is the project "APMPAL-HET" about.

foundations    analyst    worker    erc    wages    exit    macro    rationally    influences    prices    redistribution    emphasis    capital    dsge    prediction    smoothing    ose    function    consumers    modifies    human    reform    subjective    ir    tax    extend    rule    data    observe    wealth    constraints    discount    investors    network    forecast    redistribute    decision    expectations    social    taxation    assets    optimal    apmpal    variables    depends    predicting    bond    internal    market    rationality    search    agents    pricing    subsidies    reforms    series    wage    country    knows    discourage    fiscal    crisis    survey    either    stochastic    beliefs    taylor    frameworks    view    heterogeneity    government    workers    introduce    inflation    prior    tools    monetary    linearities    group    heterogeneous    productivity    insights    accumulation    behave    compatible    teach    neighbours    signal    models    debt    continue    sovereign    exclusion    partial    asset    policy    based    time    extraction   

Project "APMPAL-HET" data sheet

The following table provides information about the project.

Coordinator
FUNDACIÓ MARKETS, ORGANIZATIONS AND VOTES IN ECONOMICS 

Organization address
address: CAMPUS DE BELLATERRA DE LA UNIVERSIDAD AUTONOMA DE BARCELONA SN EDIFICIO B
city: CERDANYOLA DEL VALLÈS
postcode: 8193
website: www.movebarcelona.eu

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Spain [ES]
 Total cost 1˙524˙144 €
 EC max contribution 1˙524˙144 € (100%)
 Programme 1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
 Code Call ERC-2017-ADG
 Funding Scheme ERC-ADG
 Starting year 2018
 Duration (year-month-day) from 2018-09-01   to  2023-08-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    FUNDACIÓ MARKETS, ORGANIZATIONS AND VOTES IN ECONOMICS ES (CERDANYOLA DEL VALLÈS) coordinator 1˙524˙144.00

Map

 Project objective

Based on the APMPAL (ERC) project we continue to develop the frameworks of internal rationality (IR) and optimal signal extraction (OSE). Under IR investors/consumers behave rationally given their subjective beliefs about prices, these beliefs are compatible with data. Under OSE the government has partial information, it knows how policy influences observed variables and signal extraction. We develop further the foundations of IR and OSE with an emphasis on heterogeneous agents. We study sovereign bond crisis and heterogeneity of beliefs in asset pricing models under IR, using survey data on expectations. Under IR the assets’ stochastic discount factor depends on the agents’ decision function and beliefs; this modifies some key asset pricing results. We extend OSE to models with state variables, forward-looking constraints and heterogeneity. Under IR agents’ prior beliefs determine the effects of a policy reform. If the government does not observe prior beliefs it has partial information, thus OSE should be used to analyse policy reforms under IR. If IR heterogeneous workers forecast their productivity either from their own wage or their neighbours’ in a network, low current wages discourage search and human capital accumulation, leading to low productivity. This can explain low development of a country or social exclusion of a group. Worker subsidies redistribute wealth and can increase productivity if they “teach” agents to exit a low-wage state. We build DSGE models under IR for prediction and policy analysis. We develop time-series tools for predicting macro and asset market variables, using information available to the analyst, and we introduce non-linearities and survey expectations using insights from models under IR. We study how IR and OSE change the view on macro policy issues such as tax smoothing, debt management, Taylor rule, level of inflation, fiscal/monetary policy coordination, factor taxation or redistribution.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "APMPAL-HET" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "APMPAL-HET" are provided by the European Opendata Portal: CORDIS opendata.

More projects from the same programme (H2020-EU.1.1.)

RESOURCE Q (2019)

Efficient Conversion of Quantum Information Resources

Read More  

SoftHandler (2019)

Commercial feasibility of an integrated soft robotic system for industrial handling

Read More  

HyperCube (2020)

HyperCube: Gram scale production of ferrite nanocubes and thermo-responsive polymer coated nanocubes for medical applications and further exploitation in other hyperthermia fields

Read More