Objective
Research objectives and content
The overall aim of the research project is to study the role of money and financial inter-mediation ingenerating and sustaining endogenous equilibrium fluctuations in sequential, Walrasian economies. An important part of the project is concerned with the formulation of an adequate model of inter-mediation institutions in competitive, inter-temporal economies. This model should capture crucial features of the interaction between savers and investors and allow studying the business-cycle implications of credit rationing and agency problems between firms and financiers. Some effort will also be devoted to the issue of expectations volatility and of the emergence of stochastic equilibria in sequential, Walrasian economies. This part of the research is intended to provide some additional theoretical foundations to the theories of endogenous equilibrium business cycles.
Training content (objective, benefit and expected impact)
The two main objectives are:
(A) to obtain a deeper understanding of financial markets from a general equilibrium perspective and in presence of risk and informational asymmetries;
(B) to explore the business-cycle implications of imperfect intermediation between firms and financiers, with particular emphasis on the role played by the credit rationing in generating aggregate, endogenous fluctuations.
the quality of the research to be carried out, as well as future research, would greatly benefit from the possibility of working with Professors H. Polemarchakis, J.M. Grandmont, J.F. Mertens and C. d'Aspremont,and the active research environment at CORE.
Links with industry / industrial relevance (22)
Fields of science (EuroSciVoc)
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
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Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
1348 LOUVAIN-LA-NEUVE
Belgium
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.