Showing 1 - 8 of 8
This paper presents experimental evidence from a monetary sticky price economy in which output and inflation depend on expected future inflation. With rational inflation expectations, the economy does not generate persistent deviations of output and inflation in response to a monetary shock. In...
Persistent link: https://www.econbiz.de/10011604538
This paper presents experimental evidence from a monetary sticky price economy in which output and inflation depend on expected future inflation. With rational inflation expectations, the economy does not generate persistent deviations of output and inflation in response to a monetary shock. In...
Persistent link: https://www.econbiz.de/10013318515
adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is … learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only …
Persistent link: https://www.econbiz.de/10010298287
adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is … learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only …
Persistent link: https://www.econbiz.de/10011507885
adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is … learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only …
Persistent link: https://www.econbiz.de/10013319951
We study adaptive learning in a monetary overlapping generations model with sticky prices and monopolistic competition … for the case where learning agents observe current endogenous variables. Observability of current variables is essential … for informational consistency of the learning setup with the model setup but generates multiple temporary equilibria when …
Persistent link: https://www.econbiz.de/10014124808
the help of econometric models. Agents use least squares learning to estimate two competing models of which one is … consistent with rational expectations once learning is complete. When past performance governs the choice of forecast model …
Persistent link: https://www.econbiz.de/10014124809
the help of econometric models. Agents use least squares learning to estimate two competing models of which one is … consistent with rational expectations once learning is complete. When past performance governs the choice of forecast model …
Persistent link: https://www.econbiz.de/10009765344