Showing 1 - 10 of 81
We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show … order to facilitate private sector learning and thus ease the future intratemporal inflation-output gap trade-offs. The … policy recommendation is robust: the welfare loss entailed by the optimal policy under learning if the private sector …
Persistent link: https://www.econbiz.de/10010271452
This paper studies how updating affects ambiguity-attitude. In particular we focus on the generalized Bayesian update of the Jaffray-Phillipe sub-class of Choquet Expected Utility preferences. We find conditions for ambiguity-attitude to be the same before and after updating. A necessary and...
Persistent link: https://www.econbiz.de/10010281800
Persistent link: https://www.econbiz.de/10011400737
Persistent link: https://www.econbiz.de/10011400741
Persistent link: https://www.econbiz.de/10011378351
Persistent link: https://www.econbiz.de/10011326843
Persistent link: https://www.econbiz.de/10010225118
Persistent link: https://www.econbiz.de/10010381436
Persistent link: https://www.econbiz.de/10010382211
Persistent link: https://www.econbiz.de/10010203340