Fixing a game with uncertain payoffs, information design identifies the information structure and equilibrium that maximizes the payoff of an information designer. We show how this perspective unifies existing work, including that on communication in games (Myerson (1991)), Bayesian persuasion...

This note develops simple conditions from which to determine the most concise VARMA representation of a given DSGE model. It is proven analytically that the Smets and Wouters (2007) model has exact VARMA (3,2) representation. In this model, the largest possible subset of structural parameters...

Macroeconomic equations, including the consumption Euler equation and New Keynesian Phillips curve, are regularly estimated on an individual basis. However, such relations also jointly determine equilibrium. This paper establishes that individual macroeconomic equations are only seemingly...

We analyze the welfare consequences of a monopolist having additional information about consumers' tastes, beyond the prior distribution; the additional information can be used to charge different prices to different segments of the market, i.e., carry out "third degree price discrimination."We...

Intro -- Acknowledgments -- Introduction: My Friend the Beast (Stephen Morris) -- Preface -- Foreword: The New Village Green (Paul Freundlich) -- Foreword: The New Village People -- Foreword: The New Village Library -- Ch1 : The Gaia Hypothesis -- Ch2 : Silent Spring -- Ch3 : The Limits to...

The zero lower bound causes bias in the estimation of linear models. A common solution seen throughout the literature is to utilize nonlinear models instead. But if said bias were analytically tractable, one could also retain linear frameworks, and apply a correction. I show this is true for...

The zero lower bound causes bias in the estimation of linear models. A common solution seen throughout the literature is to utilize nonlinear models instead. But if said bias were analytically tractable, one could also retain linear frameworks, and apply a correction. I show this is true for...