Associate Professor, HEC Paris
(on leave, Banque de France)
Research Fellow, CEPR
Macro Theory: Expectations, Learning from Prices
Money and the Credit Market
Turning upside down NK logic: Inflation in posted prices stimulates consumers' search, making paid prices underreact to monetary shocks.
Information helps individuals to deal with fluctuations (the good face), but it also increases market fluctuations (the bad face).
Under which conditions may the optimal pursuit of short-term fiscal objectives sustain long-term monetary stability?
How central bank asset purchases affect market heterogeneous beliefs on defaultable nominal debt? In search for an optimal policy of asset purchases.
EESC HEC Paris
Department of Economics and Decision Sciences
1, rue de la Liberation
78350 Jouy en Josas FRANCE
Phone: +33 (0)1 3967 7395