My research focuses on expectations and decision making in macroeconomic environments. I enjoy developing creative ways of 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

“Distributing scarce jobs and output: experimental evidence on the effects of rationing”, with Guidon Fenig.  pdf    (Revised October 2015)

“Stabilizing Expectations at the Zero Lower Bound: Experimental Evidence” with Jasmina Arifovic. pdf  (Revised October 2015)

“Expectations and Monetary Policy: Experimental Evidence”               with Oleksiy Kryvtsov.   pdf   ,  appendix    (Revised April 2015)

“Asset Trading and Monetary Policy in Production Economies” 

with Guidon Fenig and Mariya Mileva.   pdfappendix 

“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.    

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

“Asset Markets and Asymmetric Information  ” with Jess Benhabib and Rosemarie Nagel

“Asset Markets in General Equilibrium” with Taylor Jaworski and Erik Kimbrough



Spring 2016 Teaching

Econ 305: Intermediate Macroeconomics

Econ 483: Special Topics in Macroeconomics

Upcoming Seminars, Conferences and Visits

Federal Reserve Bank of Minneapolis,

May 2016

Luba Petersen