Cycle models. To our knowledge this thesis is the first attempt to formally introduce adaptive learning and expectation … various econometric adaptive learning tools: Auto ARIMA, VAR and AR(2) models. In all simulations, output and other economic … obtained in simulations with Auto ARIMA models, while the VAR learning tool leads to diverging fluctuations in the majority of …

We estimate a New-Keynesian macro-finance model of the yield curve incorporating learning by private agents with … the prices of risk are important features of the data. These features are, therefore, included in our learning model. The … model is estimated on U.S. data using Bayesian techniques. The learning model succeeds in explaining the yield curve …