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SUMMARY:Peter Egger (ETH Zürich)
DTSTART;TZID=Europe/Berlin:20250625T121500
DTEND;TZID=Europe/Berlin:20250625T133000
DTSTAMP:20260420T165827Z
UID:1c7b220a28ac4ecaa73469bb2467f9fe@www.econ.uni-bonn.de
CREATED:20250226T102536Z
DESCRIPTION:This paper develops a dynamic spatial equilibrium model of a m
 ulti-region\, multi-sector\nopen economy where heterogeneous agents optima
 lly choose their job\, making forwardlooking decisions under aggregate unc
 ertainty. We propose a solution of the system of individual dynamic optima
 l-control problems under rational expectations as a Mean Field Game\, in d
 iscrete time and state space\, preserving the full nonlinear structure of 
 the problem. Using a calibration for France\, we demonstrate that welfare 
 outcomes and the spatial distribution of labor differ systematically from 
 those under perfect foresight. Accounting for decisions made under aggrega
 te uncertainty significantly reshapes the patterns of labor reallocation\,
  both during transitions and in the long run.
LAST-MODIFIED:20250521T084937Z
URL:https://www.econ.uni-bonn.de/macro/en/seminars/mef-seminar-summer-2025
 /peter-egger-eth-zurich
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