A PRIMER ON GLOBAL GAMES APPLIED TO MACROECONOMICS AND FINANCE

José Jorge and Joana Rocha

Journal of Economic Surveys, 2015, vol. 29, issue 5, 869-886

Abstract: This paper shows how to solve global games applied to macroeconomics and finance. We ascertain the roles of public and private information for the determination of a unique equilibrium, and discuss the informative role of market prices. We examine the impact of public information on social welfare, comparing models with and without complementarities at the aggregate level.

Date: 2015
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