BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Memento EPFL//
BEGIN:VEVENT
SUMMARY:Intervention Policy in a Dynamic Environment: Coordination and Lea
 rning
DTSTART:20160513T103000
DTEND:20160513T120000
DTSTAMP:20260406T050628Z
UID:9739b51c3c0762646112573f461e3bb0ff37f669f66ad571e3563c22
CATEGORIES:Conferences - Seminars
DESCRIPTION:Lin William CONG (Chicago Booth)\nWe model a dynamic economy w
 ith strategic complementarity among investors and a government that interv
 enes as a large player in global games to mitigate coordination failures. 
 We establish existence and uniqueness of equilibrium\, and show interventi
 ons affect coordination both contemporaneously and dynamically. Initial in
 tervention alters public information structure that could either facilitat
 e or hamper subsequent coordination. Our results suggest that even absent 
 signaling\, optimal policy should emphasize early intervention. Moreover\,
  considering dynamic coordination increases or decreases endogenous interv
 ention\, depending on the intervention capacities. Our paper is applicable
  to intervention programs such as the bailouts of money market mutual fund
 s and commercial paper market during the 2008 financial crisis.
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CONFIRMED
END:VEVENT
END:VCALENDAR