Monetary and Fiscal Policy under Imperfect Knowledge

  • Preston, Bruce (Primary Chief Investigator (PCI))

Project: Research

Project Details

Project Description

This proposal lays out an agenda exploring the consequences of imperfect knowledge for macroeconomic dynamics and stabilization policy. Learning dynamics are central to understanding aggregate fluctuations in periods during which agents have limited information about their environment, as has been the case during and after the Global Financial Crisis. The agenda comprises two lines of inquiry. The first develops theoretical issues relating to the design and implementation of monetary and fiscal policy under imperfect knowledge. The second adduces empirical evidence on the classes of possible beliefs that any macroeconomic model should account for.
StatusFinished
Effective start/end date2/01/1431/12/17

Funding

  • Australian Research Council (ARC): AUD789,144.00
  • Australian Research Council (ARC): AUD82,500.00
  • Australian Research Council (ARC)
  • Australian Research Council (ARC)