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DTSTART:20180325T010000
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DTSTART:20181028T010000
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DTSTART;TZID=Europe/Paris:20180404T121500
DTEND;TZID=Europe/Paris:20180404T133000
DTSTAMP:20260715T023233
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SUMMARY:Nobuyuki HANAKI (Nice Sophia Antipolis University) - "A Quantitative Easing Experiment" joint with A. Penalver\, E. Akiyama\, Y. Funaki\, R. Ishikawa
DESCRIPTION:\nThe Microeconomics Seminar: Every Wednesday at 12:15 pm. \nTime: 12:15 pm – 1:30 pm\nDate: 28th of March 2018\nPlace: Room 3001. \nNobuyuki HANAKI (Nice Sophia Antipolis University) – “A Quantitative Easing Experiment” joint with A. Penalver\, E. Akiyama\, Y. Funaki\, R. Ishikawa \nLink to the paper \nAbstract: We experimentally investigate the effect of a central bank buying bonds for cash in a quantitative easing (QE) operation. In our experiment\, the bonds are perfect substitute for cash\, and have a constant fundamental value (FV) which is not affected by QE in the rational expectations equilibrium. We found that QE raised the bond prices beyond those in the benchmark treatment without QE and these differences became larger as subjects gained experience. While subjects in the benchmark treatment learned to trade the bonds at its FV\, those in treatments with QE became more convinced that QE boosts bond prices. \n\n\nOrganizers:\nMarie-Laure Allain\, Pierre Boyer\, Laurent Linnemer  &  Morgane Cure (CREST) \nSponsors:\nCREST \nFood is provided. \n\n\n
URL:https://crest.science/event/nobuyuki-hanaki-nice-sophia-antipolis-university-a-quantitative-easing-experiment-joint-with-a-penalver-e-akiyama-y-funaki-r-ishikawa/
CATEGORIES:Economics,Microeconomics
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