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.

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

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.)

KineTic (2020)

New Reagents for Quantifying the Routing and Kinetics of T-cell Activation

Read More  

NEUTRAMENTH (2018)

A redox-neutral process for the cost-efficient and environmentally friendly production of Menthol

Read More  

OSIRIS (2020)

Automatic measurement of speech understanding using EEG

Read More