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Learning Stability in Economies with Heterogeneous Agents
Honkapohja, Seppo; Mitra, Kaushik - In: Review of Economic Dynamics 9 (2006) 2, pp. 284-309
An economy exhibits structural heterogeneity when the forecasts of different agents have different effects on the determination of aggregate variables. We study the important case of economies in which agents' behavior depends on forecasts of aggregate variables and show how different forms of...
Persistent link: https://www.econbiz.de/10005085587
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Learning Stability in Economies with Heterogenous Agents
Mitra, Kaushik; Honkapohja, Seppo - Department of Economics, Royal Holloway University of London - 2004
An economy exhibits structural heterogeneity when the forecasts of di?erent agents have different effects on the determination of aggregate variables. We study the important case of economies in which agents’ behavior depends on forecasts of aggregate variables and show how di?erent forms of...
Persistent link: https://www.econbiz.de/10005652707
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Liquidity traps and expectation dynamics : fiscal stimulus or fiscal austerity?
Benhabib, Jess; Evans, George W.; Honkapohja, Seppo - 2014
Persistent link: https://www.econbiz.de/10010402622
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Learning stability in economies with heterogenous agents
Honkapohja, Seppo; Mitra, Kaushik - 2002
An economy exhibits structural heterogeneity when the forecasts of different agents have different effects on the determination of aggregate variables. Various forms of structural heterogeneity can arise and we study the important case of economies in which agents' behavior depends on forecasts...
Persistent link: https://www.econbiz.de/10011541172
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Are stationary hyperinflation paths learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10010298287
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Policy interaction, learning and the fiscal theory of prices
Evans, George W.; Honkapohja, Seppo - 2002
We investigate both the rational explosive inflation paths studied by McCallum (2001) and the classification of fiscal …
Persistent link: https://www.econbiz.de/10012147853
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Policy interaction, learning and the fiscal theory of prices
Evans, George W.; Honkapohja, Seppo - Suomen Pankki - 2002
We investigate both the rational explosive inflation paths studied by McCallum (2001) and the classification of fiscal …
Persistent link: https://www.econbiz.de/10005423711
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Are Hyperinflationary Paths Learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Department of Economics, University of Oregon - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10005464104
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Are stationary hyperinflation paths learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10010958763
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Are Stationary Hyperinflation Paths Learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2004
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10005120784