World Library  
Flag as Inappropriate
Email this Article

Christian Hellwig

Article Id: WHEBN0024158835
Reproduction Date:

Title: Christian Hellwig  
Author: World Heritage Encyclopedia
Language: English
Subject: Journal of Economic Theory, Monetary economics, Business cycle, List of economists
Publisher: World Heritage Encyclopedia

Christian Hellwig

Christian Hellwig
Nationality German
Institution Toulouse School of Economics
Field Economic theory, Macroeconomics
School or tradition
Neoclassical economics
Alma mater London School of Economics
Contributions public information in global games
Information at IDEAS / RePEc

Christian Hellwig is a German economic theorist and macroeconomist who did research in the field of global games. He is the editor of the Journal of Economic Theory.


Hellwig obtained a B.A. in Economics at the University of Lausanne in 1998, a M.Sc. in Econometrics and mathematical economics by the London School of Economics (LSE) in 1999, and a Ph.D. in Economics at LSE in 2002. He spent the last two years of his doctorate as a visiting scholar at MIT. He became an Assistant Professor at UCLA in 2002 and became a tenured associate professor in 2007. Hellwig took up the position of Associate Professor at Toulouse School of Economics 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 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 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 famous economist Martin Hellwig.

Research contribution

Hellwig studied the effects of exogenous and endogenous public information in global coordination games and showed that multiplicity of equilibria is restored under fairly general conditions.

Global coordination games belong to a subfield of game theory which started with the article by Morris and Shin (1998).[1] Steven Morris and Hyun Song Shin 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, 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).[2]

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).[3] Hellwig et al.(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.[4] 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).[5]


  1. ^ Stephen Morris and Hyun Song Shin (1998), "Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks," American Economic Review, 88 (3): 587–97.
  2. ^ Andrew G. Atkeson, (2001), "Rethinking Multiple Equilibria in Macroeconomic Modeling: Comment." In NBER Macroeconomics Annual 2000, ed. Ben S. Bernanke and Kenneth Rogoff, 162–71. Cambridge, MA: MIT Press.
  3. ^ Christian Hellwig (2002), "Public Information, Private Information, and the Multiplicity of Equilibria in Coordination Games," Journal of Economic Theory, 107 (2): 191–222.
  4. ^ Christian Hellwig, Arijit Mukherji and Aleh Tsyvinski (2006), "Self-Fulfilling Currency Crises: The Role of Interest Rates," American Economic Review, 96 (5): 1769–1787.
  5. ^ George-Marios Angeletos and Ivan Werning (2006), "Crises and Prices: Information Aggregation, Multiplicity, and Volatility," American Economic Review, 96 (5): 1720–36.

External links

  • Webpage at TSE
  • Curriculum Vitae
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.