consumption. We investigate the robustness of these results to model uncertainty using Bayesian model averaging. We find that … there is model uncertainty with regard to the number of cointegrating vectors, the form of deterministic components, lag … length, and whether the cointegrating residuals affect consumption and income directly. Whether this uncertainty has …

uncertainty. We construct a notion of a model-uncertainty-induced utility function and show that model uncertainty increases …-Requejo (2000) to compute lower and upper good-deal bounds in the presence of model uncertainty. We illustrate the methodology using …

into a liquidity trap. By contrast, more backward-looking and "active" Taylor rules guarantee that the unique learnable …

uncertainty, and they illustrate the contract design in an application with Bayesian learning. The disagreement creates gains from …