题目：Consumption Dynamics under Diagnostic Expectations

主讲人： 尹鹏辉，山东大学

时间：2023年3月24日下午13:30-15:00

地点：暨南大学石牌校区中惠楼106室

主讲人简介：

尹鹏辉，山东大学助理教授，2020年获法兰克福大学经济学博士学位。主要研究宏观经济学、信息经济学和行为经济学。曾在Journal of Economic Dynamics and Control 期刊发表论文。

Abstract:

Household survey data show that positive income shocks lead to a positive consumption change today but a negative change in consumption tomorrow. These results contradict standard consumption models that predict current consumption change only depends on unpredictable income shocks. To explain this puzzling consumption pattern, we study a behavioral life-cycle-permanent-income consumption model under diagnostic expectation. Together with incomplete information, our model can have a potential to generate realistic consumption dynamics and have important implications for governments' stimulus fiscal policies.