2015年理查德·伊利系列讲座

Richard Ely Distinguished Lecture Series 2014-2015

耶鲁大学经济学教授John Geanakoplos将于本月9日-12日到霍普金斯大学经济系做2015年理查德·伊利系列讲座，具体日程安排和阅读材料如下：

Lecture 1: Monday, March 9, 2015
Title: Leverage, Default, & Forgiveness
Place: Mergenthaler 111
Time: 3:30 to 5:00PM

Lecture 2: Tuesday, March 10, 2015
Title:  Collateral Equilibrium, Endogenous Leverage, and the Credit Surface
Place: Mergenthaler 111
Time: 3:30 to 5:00PM

Lecture 3: Wednesday, March 11, 2015
Title: The Leverage Cycle
Place: Mergenthaler 111
Time: 3:30 to 5:00PM

Lecture 4: Thursday, March 12, 2015
Title: Financial Innovations & the Macroeconomy: Tranching, CDS, and Credit Cards
Place: Krieger 205
Time: 3:30 to 5:00PM

Background Readings:

Lecture 1: Leverage, Default, and Forgiveness

1. 1. “Promises, Promises,” in W.B. Arthur, S. Durlauf and D. Lane, eds., The Economy as an Evolving Complex System, II, Addison-Wesley, Reading MA, 1997, pp. 285-320. (Intro Only)
   2. “The Leverage Cycle,” in D.Acemoglu, K. Rogoff, and M. Woodford, eds., NBER Macro­economics Annual 2009, Vol. 24, University of Chicago Press, Chicago, 2010, pp. 1-65. (Intro Only)
   3. ““Leverage, Default, and Forgiveness: Lessons of the American and European Crises” Journal of Macroeconomics (March 2014), 39(Part B): 313-333
   4. “Mortgage Justice Is Blind” (with Susan Koniak) New York Times op-ed, October 30, 2008
   5. “Matters of Principal” (with Susan Koniak) New York Times op-ed, March 4, 2009
   6. “Greek Debt and American Debt: Graduation Speech at the University of Athens Economics and Business School”, Cowles Foundation Discussion Paper 1837 (November 2011).

Lecture 2: Collateral Equilibrium, Endogenous Leverage, and the Credit Surface

1. 1. “Promises, Promises,” in W.B. Arthur, S. Durlauf and D. Lane, eds., The Economy as an Evolving Complex System, II, Addison-Wesley, Reading MA, 1997, pp. 285-320.
   2. “Collateral Equilibrium: A Basic Framework” (with W. Zame), Economic Theory(August 2014), 56(3): 443-492
   3. “Leverage and Default in Binomial Economies: A Complete Characterization”(with A. Fostel), forthcoming, Econometrica. (2014).

Lecture 3: The Leverage Cycle

1. 1. “Liquidity, Default, and Crashes, Endogenous Contracts in General Equilibrium,” Advances in Economics and Econometrics: Theory and Applications, Eighth World Conference, Volume II, Econometric Society Monographs, 2003, pp. 170-205.
   2. “The Leverage Cycle,” in D.Acemoglu, K. Rogoff, and M. Woodford, eds., NBER Macro­economics Annual 2009, Vol. 24, University of Chicago Press, Chicago, 2010, pp. 1-65.
   3. “Leverage Cycles and the Anxious Economy” (with A. Fostel), American Economic Review (2008), 98(4): 1211-1244 (lead article).
   4. “Endogenous Collateral Constraints and The Leverage Cycle” (with A. Fostel),Annual Review of Economics (May 2014). Vol 6(1): 771-799.
   5. Leverage Causes Fat Tails and Clustered Volatility” (with Stephen Thurner and J. Doyne Farmer), Quantitative Finance (May 2012), 12(5): 695-707.
   6. “Getting at Systemic Risk via an Agent-Based Model of the Housing Market”(with R. Axtell, Doyne Farmer, P. Howitt, B. Conlee, J. Goldstein, M. Hendrey, N. Palmer, C. Yang), American Economic Review: Papers and Proceedings 2012, 102(3): 53-58

 Lecture 4: Financial Innovations and the Macroeconomy: Tranching, CDS, and Credit Cards

1. 1. “Tranching, CDS, and Asset Prices: How Financial Innovation Can Cause Bubbles and Crashes” (with A. Fostel), American Economic Journal: Macroeconomics (2012), 4(1): 190-225.
   2. “Financial Innovation, Collateral and Investment” (with A. Fostel), forthcoming, American Economic Journal: Macroeconomics (2014).
   3. “Why is Too Much Leverage Bad for the Economy” (with F. Kubler) (2014).
   4. “Default and Punishment in General Equilibrium” (with P. Dubey and M. Shubik), Econometrica (2005), 73(1): 1-37.
   5. “Credit Cards and Inflation” (with Pradeep Dubey) Games and Economic Behavior (November 2010), 70(2): 325-353.