Rich Lyons

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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

 

Rich Lyons

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This page is not an official publication of the Haas School of Business. It has not been reviewed or approved by the Haas School of Business or the University of California, Berkeley. The page author is solely responsible for the contents of this page.