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Noah Williams

Associate Professor 

econ dept

uw

tower


Department of Economics
University of Wisconsin - Madison
William H. Sewell Social Science Building, Room 7434
1180 Observatory Drive
Madison, WI 53706-1393
(608) 263-3864

e-mail:  nwilliam@ssc.wisc.edu

Research: Publications  | Working Papers |  CV

Teaching:  Econ 312  | Econ 714 


NEW ITEMS:

  • My paper, "The Conquest of South American Inflation" (joint with Tom Sargent and Tao Zha) posted below, has now been published in the Journal of Political Economy.
  • A revised version (after many years...) of my paper "Escape Dynamics in Learning Models" is posted below.
  • A link to a video of my presentation at the Bank of Korea conference in May '08 is below.
  • A revised version of my paper "On Dynamic Principal Agent Problems in Continuous Time" is posted below. The new version describes in detail the relationship between continuous time and static moral hazard models.
  • A revised version of my paper "Generalized Stochastic Gradient Learning" (joint with George Evans and Seppo Honkapohja) is posted below. The paper is forthcoming in International Economic Review.

    • PUBLICATIONS:

    Escaping Nash Inflation
    with In-Koo Cho and Thomas J. Sargent.
    Review of Economic Studies, 69(1): 1-40, January 2002.
    ReStud Home Page  

    Robustness and Pricing with Uncertain Growth
    with Marco Cagetti, Lars Peter Hansen, and Thomas J. Sargent.
    Review of Financial Studies, 15(2): 363-404, March 2002.
    RFS Link

    Modeling Model Uncertainty*
    with Alexei Onatski.
    Journal of the European Economic Assocation, 1(5): 1087-1022, September 2003.
    Full Paper: PDF
    Also released as: NBER Working Paper No. w9566

    Small Noise Asymptotics for a Stochastic Growth Model*
    Journal of Economic Theory, 119(2): 271-298, December 2004.
    Working paper version: PDF
    Also released as: NBER Working Paper No. w10194

    Impacts of Priors on Convergence and Escape from Nash Inflation*
    with Thomas J. Sargent.
    Review of Economic Dynamics, 8(2): 360-391, March 2005.
    Working paper version: PDF

    Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models*
    with Andrew Levin, Alexei Onatski, and John Williams
    in NBER Macroeconomics Annual 2005, M. Gertler and K. Rogoff, eds. MIT Press, Cambridge, pp. 229-287, 2006.
    Full paper: PDF

    Robust Control and Model Misspecification
    with Lars Peter Hansen, Thomas J. Sargent, and Gauhar A. Turmuhambetova.
    Journal of Economic Theory,128(1): 45-90, May 2006.
    Full Paper: PDF

    Shocks and Government Beliefs: The Rise and Fall of American Inflation*
    with Thomas J. Sargent and Tao Zha.
    American Economic Review, 96(4): 1193-1224, September 2006.
    Full Paper: PDF
    Earlier version released as: NBER Working Paper No. w10764

    Roubst Control ^
    An Entry for the New Palgrave, 2nd Edition.
    Latest Version: February 2007.
    Full Paper: PDF

    Optimal Monetary Policy Under Uncertainty: A Markov Jump-Linear-Quadratic Approach
    with Lars E.O. Svensson.
    Federal Reserve Bank of St. Louis Review, July/August 2008, 90(4), pp. 275-293.
    Full Paper:     PDF

    The Conquest of South American Inflation*
    with Thomas J. Sargent and Tao Zha.
    Journal of Political Economy, 117(2), 211-256, April 2009.
    Published version (at UC Press site):     PDF  Working paper version: PDF

    Generalized Stochastic Gradient Learning
    with George W. Evans and Seppo Honkapohja.
    International Economic Review, forthcoming. Latest Version: May 2008.
    Full Paper:     PDF


    WORKING PAPERS:

    Persistent Private Information ^
    Latest Version: January 2008.
    Full Paper: PDF

    On Dynamic Principal-Agent Problems in Continuous Time^
    Latest Version: September 2008.
    Full Paper:     PDF

    Monetary Policy with Model Uncertainty: Distribution Foreacast Targeting^
    with Lars E.O. Svensson
    Latest Version: May 2007.
    Full paper: PDF
    Programs to analyze optimal policy

    Bayesian and Adaptive Optimal Policy Under Model Uncertainty^
    with Lars E.O. Svensson
    Latest Version: September 2007.
    Full paper: PDF

    Optimal Monetary Policy under Uncertainty in DSGE Models:
    A Markov Jump-Linear-Quadratic Approach^
    with Lars E.O. Svensson
    Latest Version: March 2008.
    Full paper: PDF
    Video of presentation: (requires Internet Explorer) At Bank of Korea

    Empirical and Policy Performance of a Forward-Looking Monetary Model*
    with Alexei Onatski
    Latest Version: September 2008.
    Full Paper: PDF

    Escape Dynamics in Learning Models*
    Latest Version: January 2009.  Updated!
    Full Paper: PDF 

    Stability and Long Run Equilibrium in Stochastic Fictitious Play
    Latest Version: July 4, 2002.
    Full Paper: PDF

    Adaptive Learning and Business Cycles*
    Latest Version: January 1, 2003. Preliminary.
    Abstract   Full Paper: PDF

    Notes on Large Deviations in Economics and Finance
    Latest Version: April 19, 2004
    Seminar/Discussion Slides: PDF

    Items marked * are based upon work supported by the National Science Foundation under Grant No. 0317848.
    Items marked ^ are based upon work supported by the National Science Foundation under Grant No. 0550564.