Research
My field is Macroeconomics and my research interests are in Fiscal and Monetary Policy, Robustness and Imperfect Information.
Thesis: ''Robustness and Ramsey Plans'' (Sep 2008) Abstract
Papers
"Managing expectations and fiscal policy'' (latest version: Oct 2009)
(Anastasios Karantounias with Lars Peter Hansen and Thomas J. Sargent)
This paper was previously titled ``Ramsey Taxation and Fear of Misspecification.''
Abstract: This paper studies an optimal fiscal policy problem of Lucas and Stokey (1983) but in a situation in which the representative agent's distrust of the probability model for government expenditures puts model uncertainty premia into history-contingent prices. This gives rise to a motive for expectation management that is absent within rational expectations and a novel incentive for the planner to smooth the shadow value of the agent's subjective beliefs in order to manipulate the equilibrium price of government debt. Unlike the Lucas and Stokey (1983) model, the optimal allocation, tax rate, and debt all become history dependent despite complete markets and Markov government expenditures.
A supplementary appendix is available here.
"Overconfidence, Subjective Perception and Pricing Behavior"
( Pierpaolo Benigno and Anastasios Karantounias), NBER Working Paper No. 11922, January 2006.