Martin M. Guzman

Postdoctoral Research Scholar in the Faculty of Business

Finance and Economics

Martin Guzman





Teaching and research interest

Martin Guzman's research fields are macroeconomics, monetary economics, and economic growth. His research in macroeconomics focuses on understanding how the evolution of social agents' beliefs affects macroeconomic instability. Together with Professor Joseph Stiglitz, he is developing a theory of pseudo-wealth --wealth that the individuals perceive they have, but that it is the consequence of the expectations of gains that comes from actions in a context of disagreement of beliefs, and that it is divorced from real assets that may exist in society-- that provides an explanation for two of the most important puzzles in the study of macroeconomics: (i) in many situations the physical state variables describing a society do not change, however macroeconomic behavior changes substantially; and (ii) many economic downturns are associated with a long-lasting underutilization of factors of production.

Courses taught