Arifovic, Jasmina; Bullard, James B.; Kostyshyna, Olena - 2007
We analyze the effects of social learning in a widely-studied monetary policy context. Social learning might be viewed … as more descriptive of actual learning behavior in complex market economies. Ideas about how best to forecast the economy … this more realistic learning dynamic. A key result from the literature in the version of the model we study is that the …