Behavioral and Experimental Analyses in Macro-finance

宏观金融的行为和实验分析

• 批准号: 278820023
• 负责人: Professor Dr. Martin Weber
• 金额: --
• 依托单位: Groupement de Recherche en Economie Quantitative dAix-Marseille (GREQAM)
• 依托单位国家: 德国
• 项目类别: Research Grants
• 财政年份: 2016
• 资助国家: 德国
• 起止时间: 2015-12-31 至 2019-12-31
• 项目状态: 已结题
• 来源: https://gepris.dfg.de/gepris/projekt/278820023?language=en
• 关键词: Behavioral; Experimental; Analyses; Macro; finance

The current economic and financial context suggests that there is an urgent need for a new paradigm for economic thinking based on more realistic behavioral and cognitive assumptions about decision makers. Beyond the theoretical rethinking, we need a better set of tools for economic policy analyses that would shift the focus from one based on isolated atomistic optimizing agents to one emphasizing the importance of complex interactions among heterogeneous boundedly rational economic agents.To meet these challenges, we aim to analyze the effects of (1) macroeconomic policies, both monetary and fiscal, (2) regulations related to information disclosure, and (3) introduction of financial instruments within analytical frameworks that are based on more realistic behavioral foundations. We will combine extensive sets of laboratory experiments, focusing both on individual behaviors and aggregate outcomes, and computational and mathematical models. The fruits of our research will be communicated not only to academic professionals through participation in conferences and publications in peer-reviewed journals, but also to policy makers through various occasions (such as AMSE policy lectures) and to non-professionals via active participations in scientific events. Our project website will serve as a depository of our data, experimental software, and working paper, which will be a basis for a global (virtual) research center of experimental macroeconomics and finance in Europe.

当前的经济和金融背景表明，迫切需要一种新的经济思维范式，该范式基于对决策者更现实的行为和认知假设。除了理论上的反思，我们还需要一套更好的经济政策分析工具，将重点从基于孤立的原子优化主体转移到强调异质有限理性经济主体之间复杂互动的重要性。为了应对这些挑战，我们的目标是分析（1）宏观经济政策，包括货币和财政政策，（2）与信息披露有关的法规;（3）在基于更现实的行为基础的分析框架内引入金融工具。我们将结合联合收割机广泛的实验室实验，既侧重于个人行为和总的结果，计算和数学模型。我们的研究成果将不仅通过参加会议和同行评审期刊上的出版物传达给学术专业人士，还通过各种场合（如AMSE政策讲座）传达给政策制定者，并通过积极参与科学活动传达给非专业人士。我们的项目网站将作为我们的数据，实验软件和工作论文的存放处，这将是欧洲实验宏观经济学和金融的全球（虚拟）研究中心的基础。