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Topic:
Optimal Government Policy:
Theory and Applications of Recursive Contracts
Speaker:
Dr. Begoña Dominguez (University
of Auckland)
About the course
The use of recursive methods has been
significant in advancing economists’ understanding of dynamic economies.
Until the development of the theory of recursive contracts, however, many
interesting dynamic problems failed to be amenable to such recursive
solutions. For instance, in dynamic policy games, the Nobel-prize-winning
work of Kydland and Prescott asserted that rational expectations impose a
consistency-of-beliefs constraint on the policymaker such that optimal
policy design as a recursive optimal control problem would break down. The modern literature on recursive
contracts has made a large class of such dynamic problems amenable to
recursive methods. They have also overturned the Kydland-Prescott pessimism
about sustaining optimal policy equilibria as recursive equilibria. Useful
applications include sustaining optimal fiscal and monetary policy when
policymakers lack commitment, optimal unemployment insurance when workers
possess private information, financial market models with lending and moral
hazard, optimal regulation in industrial organization, trade-liberalization
agreements, and how to deal with terrorists. This course exposes participants to
the tools, concepts and applications of the methods of recursive contracts.
We envision that the lecture series will enhance the work of researchers in
academic as well as policymaking and advisory environments.
Details:
About the speaker
Begoña Dominguez holds a Ph.D from
the Universitat Autònoma de Barcelona,
Spain. Her research interests are in the areas of macroeconomics, public
finance, growth and computational methods for dynamic economies. Her most
recent publication entitled “Reputation in a Model with a Limited Debt
Structure” is forthcoming in the Review of Economic Dynamics.
Registration
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Non academic rates
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AUD 700 per
person for early registration (by August 31, 15:00 AEST).
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AUD 800 per
person after August 31.
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AUD 500 per person, if registering in a
group with minimum of 4.
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Academic rates
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Free
registration for full-time academic staff and students. A limited
number of travel/accomodation scholarships are available for students
and academics. Please indicate on the registration form if you wish to
be considered for the scholarship(s). You must register by the August
31 deadline to be eligible for scholarship considerations.
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Download registration form here:
[ RTF |
PDF
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Contact
Ms Nicole Mies (CAMA
Secretariat)
Tel: 02 6125 4442
Fax: 02 6125 3700
Email:
Nicole.Mies@anu.edu.au
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