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Eductive Stability in Real Business Cycle Models
Evans, George W.; Guesnerie, Roger; McGough, Bruce - Centre for Dynamic Macroeconomic Analysis, University … - 2014
equilibrium: eductive stability never obtains. This impossibility theorem has a counterpart when adaptive learning is incorporated …
Persistent link: https://www.econbiz.de/10011141000
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Monetary policy, indeterminacy and learning
Evans, George W.; McGough, Bruce - Center for Financial Studies - 2003
The development of tractable forward looking models of monetary policy has lead to an explosion of research on the implications of adopting Taylor-type interest rate rules. Indeterminacies have been found to arise for some specifications of the interest rate rule, raising the possibility of...
Persistent link: https://www.econbiz.de/10010986495
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Monetary policy, indeterminacy and learning
Evans, George W.; McGough, Bruce - 2003
The development of tractable forward looking models of monetary policy has lead to an explosion of research on the implications of adopting Taylor-type interest rate rules. Indeterminacies have been found to arise for some specifications of the interest rate rule, raising the possibility of...
Persistent link: https://www.econbiz.de/10010298274
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Adaptive Learning and Monetary Policy Design
Evans, George W.; Honkapohja, Seppo - C.E.P.R. Discussion Papers - 2003
stability under learning. Appropriately designed expectations-based rules can yield optimal rational expectations equilibria …
Persistent link: https://www.econbiz.de/10005791392
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Adaptive learning and monetary policy design
Evans, George W.; Honkapohja, Seppo - EconWPA - 2004
stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …
Persistent link: https://www.econbiz.de/10005561354
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Robust Learning Stability with Operational Monetary Policy Rules
Evans, George W.; Honkapohja, Seppo - C.E.P.R. Discussion Papers - 2008
We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …
Persistent link: https://www.econbiz.de/10005498187
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Adaptive Learning and Monetary Policy Design
Evans, George W.; Honkapohja, Seppo - Department of Economics, University of Oregon - 2002
stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …
Persistent link: https://www.econbiz.de/10005593736
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Monetary Policy, Indeterminacy and Learning
Evans, George W.; McGough, Bruce - Department of Economics, University of Oregon - 2003
potential dependence on extraneous "sunspots," for some structural and policy parameters. We investigate the stability of these …
Persistent link: https://www.econbiz.de/10005593762
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Monetary Policy and Stable Indeterminacy with Inertia
Evans, George W.; McGough, Bruce - Department of Economics, University of Oregon - 2004
We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia …
Persistent link: https://www.econbiz.de/10005464106
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Convergence for difference equations with vanishing time-dependence, with applications to adaptive learning
Evans, George W.; Honkapohja, Seppo - In: Economic Theory 15 (2000) 3, pp. 717-725
We provide conditions for local stability and instability of an equilibrium point in certain systems of nonautonomous …
Persistent link: https://www.econbiz.de/10005371114