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BEGIN:VEVENT
UID:1afd16fedb004bf2287f4c507dfeade8
CATEGORIES:Seminars
CREATED:20150105T164946
SUMMARY:Lunch Seminar: Donghoon Yoo - University of Rome “Tor Vergata”
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Ambiguity, News, Noise, and Fluctua
 tions</strong></p><p style="text-align: justify;">Abstract:</p><p style="te
 xt-align: justify;">This paper links the news and noise information structu
 re of Blanchard, L’Huillier, and Lorenzoni (2013) to second moment effects 
 by means of ambiguity aversion to the precision of information. Specificall
 y, when agents receive ambiguous signals about permanent productivity, cons
 umption features asymmetric responses: the size of the response depends on 
 whether the signal delivers good or bad news. Agents’ beliefs updating and 
 consumption under ambiguous signals, as well as econometrician’s filtering 
 problem are discussed. The model is estimated through maximum likelihood.</
 p>
DTSTAMP:20260406T121150Z
DTSTART:20140430T130000Z
DTEND:20140430T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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