My research focuses on expectations and decision making in macroeconomic environments. I develop frameworks for implementing macroeconomies in controlled laboratory experiments to study policy-relevant questions.

My recent work investigates the ability of monetary policy and central bank communication to stabilize expectations and markets. These experiments have been funded by various institutions and programs including the Bank of Canada, the Sury Initative for Global Finance and International Risk Management, SSHRC/SFU Small Grants, as well as SSHRC Insight Development and Insight Grants.

Working Papers

Stabilizing expectations at the zero lower bound: Experimental evidence     with Jasmina Arifovic,    August 2016

(Revised and resubmitted)

Distributing scarce jobs and output: experimental evidence on the dynamic effects of rationing        with Guidon Fenig,    October 2016

(Revised and resubmitted)

Leave the bubble alone!: Deflating asset price bubbles in an experimental macroeconomy         Appendix

with Guidon Fenig and Mariya Mileva,      August 2016

(Under review)

Expectations and monetary policy: Experimental evidence      Appendix

with Oleksiy Kryvtsov, April 2015 

(Under review)

“Coordinating expectations through central bank projections”

with Fatemeh Mokhtarzadeh   (draft available upon request)


[2015]  Do Expectations and Decisions Respond to Monetary Policy? Journal of Economic Studies, 42(6), 1047-1062. 

* Special Issue in Experimental Macroeconomics  

WP version

[2014] Does Money Illusion Matter?: Comment

with Abel Winn. American Economic Review, 104(3):1047-1062.

WP versionAppendix  

[2014] Recent Developments in Experimental Macroeconomics

with Robert Amano and Oleksiy Kryvtsov. Bank of Canada Review, Autumn 2014, 1-11. 

[2014] Forecast Error Information and Heterogenous Expectations in Learning to Forecast Macroeconomic Experiments in “Experiments in Macroeconomics”, Vol. 17, Research in Experimental Economics, 109-137.

WP version

Work in Progress

“Expectation formation in a learning environment”

“De-anchoring expectations” with Oleksiy Kryvtsov

“Do prices reveal information about dividends in asymmetric sequential asset markets?” with Jess Benhabib and Rosemarie Nagel

“Asset markets in general equilibrium” with Taylor Jaworski and Erik Kimbrough

“Monetary policy and forward guidance in an investment game” with Martin Geiger and Johann Scharler

“Central bank communication and the media” with Mariya Mileva



Spring 2017 Teaching

Econ 483: Special Topics in Macroeconomics

Econ 807: M.A. Macroeconomics

Upcoming Seminars, Conferences and Visits

“Expectations in Dynamic Macroeconomic Models” Conference, De Nederlandsche Bank, September 6-8, 2016

University of Saskatchewan,

September 27-30, 2016

North American Economic Science Association Meetings, Tucson, November 10-12, 2016

Experimental Finance Conference, Tucson,

November 13, 2016

ASSA Meetings, Chicago,

January 2017

Luba Petersen