BEGIN:VCALENDAR
VERSION:2.0
PRODID:icalendar-ruby
CALSCALE:GREGORIAN
X-WR-CALNAME:S.C. Tsiang Macroeconomics Workshop: Hassan Afrouzi
X-WR-TIMEZONE:Eastern Time (US & Canada)
BEGIN:VEVENT
DTSTAMP:20260609T214801Z
UID:tag:localist.com\,2008:EventInstance_30943653666896
DTSTART:20191031T154000Z
DTEND:20191031T171000Z
DESCRIPTION:Hassan Afrouzi - Columbia University\n\nDynamic Rational Inatte
 ntion and the Phillips Curve (joint w/Choongryul Yang)\n\nAbstract:  We de
 velop a tractable method to characterize the full transitions dynamics\, a
 s well as the steady state\, of dynamic multivariate rational inattention 
 models in linear quadratic Gaussian settings. As an application\, we devel
 op a general equilibrium flexible price model that leads to a Phillips cur
 ve due to its rational inattention micro-foundations. This Phillips curve 
 has several novel properties. Its slope is endogenous to systematics aspec
 ts of monetary policy and is flatter when the monetary policy is more hawk
 ish: rationally inattentive firms find it optimal to ignore monetary polic
 y shocks when the monetary authority commits to stabilize nominal variable
 s. Moreover\, an unexpectedly more dovish monetary policy leads to a compl
 etely flat Phillips curve in the short-run and a steeper Phillips curve in
  the long-run.
GEO:42.447296;-76.482254
LOCATION:Uris Hall\, 498
SUMMARY:S.C. Tsiang Macroeconomics Workshop: Hassan Afrouzi
URL;VALUE=URI:https://events.cornell.edu/event/sc_tsiang_macroeconomics_wor
 kshop_hassan_afrouzi
CATEGORIES:Class/ Workshop
END:VEVENT
END:VCALENDAR