On 28th November OxTalks will move to the new Halo platform and will become 'Oxford Events' (full details are available on the Staff Gateway).
There will be an OxTalks freeze beginning on Friday 14th November. This means you will need to publish any of your known events to OxTalks by then as there will be no facility to publish or edit events in that fortnight. During the freeze, all events will be migrated to the new Oxford Events site. It will still be possible to view events on OxTalks during this time.
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I consider the welfare consequences of information frictions at the zero lower bound. Households are assumed to know that interest rates are at zero, but have imperfect information about the precise state of the economy. I prove that this information friction acts like an actuarially fair insurance mechanism on the aggregate level. It therefore raises aggregate efficiency from an ex-ante perspective. The model matches output and inflation during the Great Recession, once one assumes that firms’ perceived persistence of the shock was low at the beginning of the Great Recession.
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