A PRIMER ON GLOBAL GAMES APPLIED TO MACROECONOMICS AND FINANCE
展示如何求解应用于宏观经济学和金融学的全球博弈,分析公共与私人信息对唯一均衡的作用,并讨论市场价格的信息角色及公共信息对社会福利的影响。
Abstract This paper shows how to solve global games applied to macroeconomics and finance. We ascertain the roles of public and private information for the determination of a unique equilibrium, and discuss the informative role of market prices. We examine the impact of public information on social welfare, comparing models with and without complementarities at the aggregate level.