learning by policymakers, who update their beliefs on the basis of their own experience and of the policies adopted by other … countries. We emphasize the impact of financial crises on the learning process. The learning model developed in the paper … rational learning by policymakers. Finally, in evaluating the potential benefits and costs of capital controls in a given set …

information on the value of the IV. This leads to violation of the exclusion restriction. We analyze this in a dynamic economic …

We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging … literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We … specifically consider information management in the form of acquisition of new information or disclosure of existing information …

. This learning generates a boom and a crash, which we call `informational overshooting'. The paper applies this idea to real …

information and correlated between them. The principals benchmark their agents against each other by making the same offers in the …

Does information about rampant political corruption increase electoral participation and the support for challenger … parties? Democratic theory assumes that offering more information to voters will enhance electoral accountability. However, if … increased support for challengers and higher political participation. We provide experimental evidence that information about …

, the firm collects information which is used to update its beliefs about its performance at a market. As conditions in … different markets are correlated, the information gathered in one of them can also be used to update beliefs elsewhere – with … correlated learning may render it optimal to enter markets sequentially – an investment in market A is only followed by entry in …

We propose a simple model of optimal stopping where the economic environment changes as a result of learning. A primary … idiosyncratic productivity distribution across firms. For the first model, we show that learning leads to higher wage demands by the … workers. In the second model, we give sufficient conditions so that learning leads to higher wage demands for optimistic …