-motivated reputation building may be important for explaining dynamics in experts' policy choices. -- signalling ; learning ; monetary … with experience. We then reject increasing confidence in private information or learning about the structure of the … data. The motivation for signalling is consistent with wanting to control inflation expectations, but not career concerns …

infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably far-sighted. But, under Euler-equation learning, the model can fit the data with only …

losses are outweighed by short term gains from the learning phase. …