time separable preferences strongly improves empirical performance. Learning causes momentum and mean reversion of returns … restrict consideration to learning schemes that imply only small deviations from full rationality. The findings are robust to … the particular learning rule used and the value chosen for the single free parameter introduced by learning, provided …

This paper studies the short run correlation of inflation and money growth. We study whether a model of learning does … rational expectations model and the model of learning both offer very good explanations for the joint behavior of money and …