levels. This paper builds a model of human capital and growth that incorporates an adaptive learning mechanism to capture the …, the learning mechanism, influenced by the agents' priors and cultural bias, may impart low human capital investment for … extended periods. Policies that can speed up the learning process are examined and it is found that faster rates of growth can …

equilibrium: eductive stability never obtains. This impossibility theorem has a counterpart when adaptive learning is incorporated …

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

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

levels. This paper builds a model of human capital and growth that incorporates an adaptive learning mechanism to capture the …, the learning mechanism, influenced by the agents' priors and cultural bias, may impart low human capital investment for … extended periods. Policies that can speed up the learning process are examined and it is found that faster rates of growth can …

We examine stability under learning of sunspot equilibria in Real Business Cycle type models with indeterminacies. Our … form contains parameter regions in which sunspots are stable under learning. However, for parameters restricted to those …

be led to rules that generate indeterminacy and/or instability under learning. This problem is compounded by uncertainty … about structural parameters since an optimal rule that is determinate and stable under learning for one calibration may be … indeterminate or unstable under learning under a different calibration. We advocate a procedure in which policymakers restrict …

solutions under adaptive learning, focusing on "common factor" or "resonant frequency" representations in which the observed …

We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia …

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