This chapter provides a survey of the recent work on learning in the context of macroeconomics. Learning has several … roles. First, it provides a boundedly rational model of how rational expectations can be achieved. Secondly, learning acts … as a selection device in models with multiple REE (rational expectations equilibria). Third, the learning dynamics …

adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is … learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …

agents have perfectly rational expectations, is unstable if in fact these agents follow standard adaptive learning rules … rule. These strong results extend to the case in which there is simultaneous learning by the policy maker and the private …

learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is on … learning if agents can utilize contemporaneous data. In an economy with a mixture of agents, some of whom only have access to …

Expectations play a central role in modern macroeconomics. The econometric learning approach, in line with the … equilibria. Further features of learning – such as discounting of older data, use of misspecified models or heterogeneous choice … by agents between competing models – generate novel learning dynamics. Empirical applications are reviewed and the roles …

agents have perfectly rational expectations, is unstable if in fact these agents follow standard adaptive learning rules … rule. These strong results extend to the case in which there is simultaneous learning by the policy maker and the private …

adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is … learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only …

This paper develops an adaptive learning formulation of an extension to the Ball, Mankiw, and Reis (2005) sticky …'s preferences for price vs. output stability, the learning process can converge to a new equilibrium in which both output and price …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …