宏观经济学讨论班

总第107期

中国人民大学宏观经济学讨论班（Macroeconomics Seminar）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型（尤其是Bewley模型）并使用计算机模拟研究中国经济改革与发展的重大问题。

【时间】2012年3月6日（周二）12：15－13：45

【地点】明主0304教室

【主持】陈彦斌教授

【主讲】陈伟泽

【主题】Optimal Interventions in Markets with Adverse Selection

【摘要】We study the design of interventions to stabilize financial markets plagued by adverse selection. Our contribution is to analyze the information revealed by participation decisions. Taking part in a government program carries a stigma, and outside options are mechanism-dependent. We show that the efficiency of an intervention can be assessed by its impact on the market interest rate. The presence of an outside market determines the nature of optimal interventions and the choice of financial instruments (debt guarantees in our model), but it does not affect implementation costs.

　　

联系人：姚一旻

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