VIENNA JOINT ECONOMICS SEMINAR	INVITATION
Reminder: The University of Vienna and the Institute for Advanced Studies cordially invite you to the following Vienna Joint Economics Seminar Thursday, January 12, 2017 University of Vienna, Oskar-Morgenstern-Platz 1, 1090 Vienna, Skylounge, 12^th floor 4:00 pm Jordi Gali and Filip Matějka CREI Barcelona                                                                 Charles University, Prague Asset Price Bubbles and Monetary Policy in a New Keynesian Model with Overlapping Generations (Jordi Gali) I develop an extension of the basic New Keynesian model with overlapping generations, finite lives and retirement. In contrast with the standard model, the proposed framework allows for the existence of rational expectations equilibria featuring asset price bubbles. I examine the conditions under which bubbly equilibria may emerge and the implications for the design of monetary policy. and Electoral Competition with Rationally Inattentative Voters (Filip Matějka) This paper studies how voters’ selective ignorance interacts with policy design by political candidates. Small groups and voters with extreme preferences are more influential than under full information, divisive issues attract most attention and public goods are underfunded. Rational inattention can also explain the role of parties as labels, why competing candidates do not always converge on the same policies, why efficient reforms are more likely in recessions and how the poor are politically empowered by welfare programs. This is important because if policy distortions are driven by inattention, then some of them can be mitigated at relatively small costs. We are looking forward to seeing you! Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 232 e-Mail: economics@ihs.ac.at http://www.ihs.ac.at		LINKS DIRECTIONS TO UNIVERSITY OF VIENNA on Google maps VIENNA JOINT ECONOMICS SEMINAR on Google calendar ECONOMICS SEMINARS IN VIENNA on Google calendar Institute for Advanced Studies @IHS_Vienna
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