主讲人：Prof. Christophe Chamley (Department of Economics, Boston University)
题目：When Demand Creates Its Own Supply: Saving Sinks (论文见附件)
时间：2012年6月20日（周三）上午10:30-12:00
地点：永利集团3044am官方入口302会议室
摘要：
The mechanism by which aggregate supply creates the income that generates a demand equal to that income (called Say`s Law), may not work in a general equilibrium with decentralized markets, production made to order and private bonds. Full employment is an equilibrium, but convergence to that state is slow. A self-ful lling precautionary motive to accumulate private bonds (equal to zero in the aggregate) may set the economy on a path towards a steady state with unemployment. This equilibrium is a sink from which no path emerges to restore full employment.
Prof. Christophe Chamley 简介：
Christophe Chamley, Harvard PhD, is professor of economics at Boston University,Directeur d`Etudes at the Ecole des Hautes Etudes en Sciences Sociales in Paris and fellow of the Econometric Society. He had appointments at Yale University, the Hoover Institution and the World Bank and the university of Strasbourg. He held visiting positions in Louvain (CORE), Bonn, Madrid (Carlos III) and Paris (HEC). He has published in all the top economics journal in the theory of public finance, monetary policy, macroeconomic theory, and on the interactions between individual actions and public information. He has also published in the history of public finance. He is the author of Rational Herds: Economic Models of Social Learning (2004).
点击下载：Chamley_Demand.pdf
