distinguish between these two shocks and, under incomplete learning, private perceptions of the inflation target will not equal …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …

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 …

policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …

learning and control, variants of which have been studied in the past, but little with forward-looking variables which are a … key component of modern policy-relevant models. As in most Bayesian learning problems, the optimal policy typically … good approximation to the BOP. We provide a simple example to illustrate the role of learning and experimentation in an …

policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …

distinguish between these two shocks and, under incomplete learning, private perceptions of the inflation target will not equal …