Christian Hellwig is a German

economic theorist An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are ...

and

macroeconomist Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and ...

who did research in the field of

global games In economics and game theory, global games are games of incomplete information where players receive possibly-correlated signals of the underlying state of the world. Global games were originally defined by Carlsson and van Damme (1993). The mo ...

. He is the editor of the ''

Journal of Economic Theory The ''Journal of Economic Theory'' is a bimonthly peer-reviewed academic journal covering the field of economic theory. Karl Shell has served as editor-in-chief of the journal since it was established in 1968. Since 2000, he has shared the editor ...

''.

Biography

Hellwig obtained a

B.A. Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four years ...

in Economics at the

University of Lausanne The University of Lausanne (UNIL; french: links=no, Université de Lausanne) in Lausanne, Switzerland was founded in 1537 as a school of Protestant theology, before being made a university in 1890. The university is the second oldest in Switzer ...

in 1998, a

M.Sc. A Master of Science ( la, Magisterii Scientiae; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree in the field of science awarded by universities in many countries or a person holding such a degree. In contrast to ...

Econometrics Econometrics is the application of Statistics, statistical methods to economic data in order to give Empirical evidence, empirical content to economic relationships.M. Hashem Pesaran (1987). "Econometrics," ''The New Palgrave: A Dictionary of ...

and

mathematical economics Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference an ...

by the

London School of Economics , mottoeng = To understand the causes of things , established = , type = Public research university , endowment = £240.8 million (2021) , budget = £391.1 millio ...

(LSE) in 1999, and a

Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is a ...

in Economics at LSE in 2003 with his thesis entitled "Money, Intermediation and Coordination in Decentralised Markets". He spent the last two years of his doctorate as a visiting scholar at

MIT The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the m ...

. He became an

assistant professor Assistant Professor is an academic rank just below the rank of an associate professor used in universities or colleges, mainly in the United States and Canada. Overview This position is generally taken after earning a doctoral degree and general ...

UCLA The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California St ...

in 2002 and became a tenured

associate professor Associate professor is an academic title with two principal meanings: in the North American system and that of the ''Commonwealth system''. Overview In the ''North American system'', used in the United States and many other countries, it is a ...

in 2007. Hellwig took up the position of Associate Professor at

Toulouse School of Economics Toulouse School of Economics (TSE; french: École d'économie de Toulouse) is a school of economics, affiliated with Toulouse 1 Capitole University, a constituent college of the Federal University of Toulouse Midi-Pyrénées. It is located in t ...

in 2010 where he is currently employed. In addition to his academic position, Hellwig is a Research Affiliate at the

Centre for Economic Policy Research The Centre for Economic Policy Research (CEPR) is an independent, non‐partisan, pan‐European non‐profit organisation. Its mission is to enhance the quality of policy decisions through providing policy‐relevant research, based soundly in e ...

since 2007 and became the editor of the ''Journal of Economic Theory'' in June 2008. He is a member of the Board of Editors of the ''

American Economic Review The ''American Economic Review'' is a monthly peer-reviewed academic journal published by the American Economic Association. First published in 1911, it is considered one of the most prestigious and highly distinguished journals in the field of ec ...

'' since April 2007. As an undergraduate he spent time studying abroad at Oberlin College, where he played on the men's basketball team. He is the son of the economist

Martin Hellwig Martin Friedrich Hellwig (born 5 April 1949) is a German economist. He has been the director of the Max Planck Institute for Research on Collective Goods since 2004, after spending his academic career as a professor at University of Bonn (1977� ...

. He is a fellow of the

European Economic Association The European Economic Association (EEA) is a professional academic body which links European economists. It was founded in the mid-1980s. Its first annual congress was in 1986 in Vienna and its first president was Jacques Drèze. The current pres ...

Research contribution

Hellwig studied the effects of exogenous and endogenous public information in global

coordination game A coordination game is a type of simultaneous game found in game theory. It describes the situation where a player will earn a higher payoff when they select the same course of action as another player. The game is not one of pure conflict, which r ...

s and showed that multiplicity of equilibria is restored under fairly general conditions. Global coordination games belong to a subfield of

game theory Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has appli ...

which started with the article by Morris and Shin (1998). Steven Morris and

Hyun Song Shin Hyun Song Shin () is a South Korean economic theorist and financial economist who focuses on global games. He has been the Economic Adviser and Head of Research of the Bank for International Settlements (BIS) since May 1, 2014. Previously, he ...

considered a stylized currency crises model, in which traders observe the relevant fundamentals with small noise, and show that this leads to the selection of a unique equilibrium. This result is in stark contrast with models of

complete information In economics and game theory, complete information is an economic situation or game in which knowledge about other market participants or players is available to all participants. The utility functions (including risk aversion), payoffs, strategies ...

, which feature multiple equilibria. However, there are potential problems with this result due to the lack of a theory of prices in global coordination games (Atkeson, 2001). Hellwig studied the effects of exogenous public information in global coordination games and showed that this may restore multiplicity under fairly general conditions (Hellwig, 2002). Hellwig and co-authors (2006) address the concern by Atkeson (2001) by considering a more explicit market structure and model the public information endogenously as an interest rate signal. They show that equilibrium multiplicity may be restored by the endogenous public signal, provided that private information is sufficiently precise, which coincides with the findings by Angeletos and Werning (2006).

References

External links

Webpage at TSE

Curriculum Vitae
{{DEFAULTSORT:Hellwig, Christian German economists Macroeconomists New classical economists Alumni of the London School of Economics University of California, Los Angeles faculty Living people Year of birth missing (living people) Fellows of the European Economic Association