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Associate Vice Chancellor for Innovation
& Entrepreneurship
This site is mostly about the
research field that I helped pioneer:
New Micro Exchange Rate Economics
New Micro is an approach
to exchange rates whose foundations lie in microeconomics (drawing
particularly from microstructure finance). The focus of the approach is
dispersed information and how information of this type is aggregated in the
marketplace. By dispersed information we mean dispersed bits of information
about changing variables like money demands, risk preferences, and future
inflation. Dispersed information also includes information about the
actions of others (e.g., about different trading responses to commonly
observed data). Traditional macro models do not consider that the private
sector might be solving a problem of dispersed information. Rather, macro
models assume that information about variables like money demands, risk
preferences, and inflation is either symmetric economy-wide, or, in some
models, asymmetrically assigned to a single player—the central bank. In
reality, there are many types of dispersed information that exchange rates
need to impound. Understanding the nature of this information problem and
how it is solved is the essence of this micro-based research agenda.
Here
is the link to my UC Berkeley official page
A few top
level documents that may be of interest (beyond Tabs above)
Contact Information
Rich Lyons, Associate Vice Chancellor
Office of the Vice Chancellor for Research
UC Berkeley
Berkeley, CA 94720
Twitter: @richlyons
lyons@berkeley.edu
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