BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Date iCal//NONSGML kigkonsult.se iCalcreator 2.20.2//
METHOD:PUBLISH
X-WR-CALNAME;VALUE=TEXT:TSE
BEGIN:VTIMEZONE
TZID:Europe/Paris
BEGIN:STANDARD
DTSTART:20261025T030000
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
TZNAME:CET
END:STANDARD
BEGIN:DAYLIGHT
DTSTART:20260329T020000
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
TZNAME:CEST
END:DAYLIGHT
END:VTIMEZONE
BEGIN:VEVENT
UID:calendar.142804.field_date.0@www.tse-fr.eu
DTSTAMP:20260603T063124Z
CREATED:20260602T121001Z
DESCRIPTION:Ludwig Straub (Harvard University)\, “Spend What You Learn: Het
 erogeneous Agents\, Sentiments\, and Aggregate Demand”\, Séminaire Banque 
 de France\, June 29\, 2026\, 11:30–12:30\, Banque de France\, room Online 
 and in room 4.\n\nWe integrate dispersed information into a heterogeneous-
 agent New Keynesian model in which households cannot fully distinguish idi
 osyncratic from aggregate income\, creating a two-way feedback between hou
 sehold sentiment about future income and aggregate demand. We develop a po
 rtable methodology—based on a forecast matrix—to embed various types of le
 arning into arbitrary sequence-space models. Our model yields three key re
 sults: delayed overreaction of beliefs to shocks\, a “sentiment inertia” f
 eedback that amplifies hump-shaped responses\, and a “sentiment accelerato
 r” that generates persistently slow recoveries. These results depend cruci
 ally on the interaction between household heterogeneity and dispersed info
 rmation.
DTSTART;TZID=Europe/Paris:20260629T123000
DTEND;TZID=Europe/Paris:20260629T133000
LAST-MODIFIED:20260603T001001Z
LOCATION:June 29\, 2026\, 11:30–12:30\, Banque de France\, room Online and 
 in room 4
SUMMARY:Séminaire Banque de France
URL;TYPE=URI:https://www.tse-fr.eu/seminars/2026-spend-what-you-learn-heter
 ogeneous-agents-sentiments-and-aggregate-demand
END:VEVENT
END:VCALENDAR