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Bullard, James; Evans, George W.; Honkapohja, Seppo - 2005

We study how the use of judgement or “add-factors” in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...

Persistent link: https://www.econbiz.de/10011604601

[Rezension von: Evans, George W.; Honkapohja, Seppo, Learning and expectations in macroeconomics]

Bray, Margaret - In: Journal of economics 78 (2003) 2, pp. 193-195

Persistent link: https://www.econbiz.de/10001759189

Learning and expectations in macroeconomics

Evans, George W.; Honkapohja, Seppo - 2001

Persistent link: https://www.econbiz.de/10001511919

Near-rational exuberance

Bullard, James; Evans, George W.; Honkapohja, Seppo - European Central Bank - 2005

Persistent link: https://www.econbiz.de/10005079099

A Model of Near-Rational Exuberance

Evans, George; Bullard, James; Honkapohja, Seppo - Scottish Institute for Research in Economics (SIRE) - 2009

We study how the use of judgement or “add-factors” in forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in a standard self-referential environment....

Persistent link: https://www.econbiz.de/10010552405

Learning and Expectations in Macroeconomics

Evans, George W. - 2001

explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational …

Persistent link: https://www.econbiz.de/10014488602

Near-Rational Exuberance

Bullard, James; Evans, George W.; Honkapohja, Seppo - Department of Economics, University of Oregon - 2005

We study how the use of judgement or "add-factors" in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...

Persistent link: https://www.econbiz.de/10005593763

A Model of Near-Rational Exuberance

Bullard, James; Evans, George W.; Honkapohja, Seppo - Centre for Dynamic Macroeconomic Analysis, University … - 2009

to fundamental equilibria. learning, recurrent hyperinflations, and macroeconomic policy to combat liquidity traps and …

Persistent link: https://www.econbiz.de/10005696968

Learning and Expectations in Macroeconomics

Evans, George W. - 2012

explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational …

Persistent link: https://www.econbiz.de/10012677112

Chapter 7 Learning dynamics

Evans, George W.; Honkapohja, Seppo - In: Handbook of macroeconomics : volume 1, part A, (pp. 449-542). 1999

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 …

Persistent link: https://www.econbiz.de/10014024243