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. pdf  (resubmitted)


“Distributing scarce jobs and output: experimental evidence on the dynamic effects of rationing”, with Guidon Fenig.  pdf 

(revise and resubmit)


“Expectations and monetary policy: Experimental evidence”               with Oleksiy Kryvtsov.   pdf   ,  appendix    (submitted)


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

with Guidon Fenig and Mariya Mileva.      pdf   ,   appendix

(submitted)


“Coordinating expectations through central bank projections” with Fatemeh Mokhtarzadeh   (draft available upon request)



Publications


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

* Special Issue in Experimental Macroeconomics  

pdf  ,   published version


[2014] “Does Money Illusion Matter?: Comment”

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

pdfappendix    published version


[2014] “Recent Developments in Experimental Macroeconomics”

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


[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.  pdf



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




 


C.V.


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