Notes on AgentsÂ¡Â¯ Behavioral Rules Under Adaptive Learning and Studies of Monetary Policy

These notes try to clarify some discussions on the formulation of individual intertemporal behavior under adaptive learning in representative agent models. First, we discuss two suggested approaches and related issues in the context of a simple consumption-saving model. Second, we show that the analysis of learning in the NewKeynesian monetary policy model based on Â¡Â°Euler equationsÂ¡Â± provides a consistent and valid approach.

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Year of publication:	2011-01-15
Authors:	Honkapohja, Seppo ; Mitra, Kaushik ; Evans, George W.
Institutions:	Centre for Dynamic Macroeconomic Analysis, University of St. Andrews
Subject:	Euler equation \| NewKeynesian \| Adaptive learning

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Extent:	application/pdf
Series:	CDMA Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 201102
Classification:	E4 - Money and Interest Rates ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit ; E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008800438