Associate Professor, HEC Paris
(on leave, Banque de France)
Research Affiliate, CEPR
Macro Theory: Expectations and Learning
Money and the Credit Market
Turning upside down NK logic: Inflation in posted prices stimulates consumers' search, making paid prices underreact to monetary shocks.
[New NBER version] 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?
EESC HEC Paris
Department of Economics and Decision Sciences
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78350 Jouy en Josas FRANCE
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