BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Talks.cam//talks.cam.ac.uk//
X-WR-CALNAME:Talks.cam
BEGIN:VEVENT
SUMMARY:The Behavioral Policy Uncertainty Channel and Fiscal Analysis: The
 ory and Evidence - Hormoz Ramian (University of Glasgow)
DTSTART:20231109T120000Z
DTEND:20231109T130000Z
UID:TALK202351@talks.cam.ac.uk
CONTACT:Cerf Admin
DESCRIPTION:*_Time change!_*\n\nWe show that the behavioural drivers of th
 e equilibrium asset prices pose as a significant uncertainty channel to po
 licymakers. Whilst policymakers maintain an information superiority based 
 on the supply side operations\, their decisions often lead to suboptimal w
 elfare implications particularly due to the behavioural information constr
 aints. This study presents a formal macro-finance framework where asset pr
 ices are determined due to both physical and behavioural drivers where the
  society’s behavioural responses to policies remain uncertain. We show t
 hat failure to incorporate an accurate account over the behavioural driver
 s lead to heighted risk premia\, significant financial market drawbacks an
 d negative real economic implications.
LOCATION:Lombard Room\, Hotel Du Vin
END:VEVENT
END:VCALENDAR