Skip to main content

The Role of Monetary Institutions in an Economy with Heterogeneous Agents

Objective



Research objectives and content

The objective of this research project is dual:
i) firstly, to study a dynamical model of strategic games in the market place (JSM) with heterogeneous agents
ii) secondly, the application of JSM market strategic games to financial markets.

i) The idea is to locate the resource constraints in an economy with an overlapping generations model of static models. An economy with one god is considered here where the agents are differentiated by their endowments. Here we study the consequences on the constitution of stationary equilibrium and on the dynamics of the system. The question is to understand the relationship between the heterogeneity of agents and the properties of equilibrium.

ii) Faced with this uncertainty, incomplete concurrencies market models have got a given market structure. I wish to apply this theoretical analysis to financial markets. In order to do this, it is possible to consider the Peck-Shell model (1989) and to explore it, in a static case, the reasons for inactivity in the market place. These reasons may be caused by the asymmetric distribution of information, and the narrowness of markets and also strategic interactions.

Training content (objective, benefit and expected impact)

Expected impact and benefits of the requested training:

My main objective is to work with researchers working on monetary problems. We would work on confronting transactional and institutional monetary approach's

This research project, which I am submitting is a further development of the work examined in my thesis. On the one hand a dynamical study of JSM and on the other hand a piece of theoretical research in a more applied sense. The possibility of spending one year at Universita degli Brescia would enable me to complete these objectives.

Funding Scheme

RGI - Research grants (individual fellowships)

Coordinator

Università degli Studi di Brescia
Address
Via Fratelli Porcellaga 21
25100 Brescia
Italy