What happens when fiscal and/or monetary policy changes systematically? We construct a DSGE model in which agents have …

What happens when fiscal and/or monetary policy changes systematically? We construct a DSGE model in which agents have …

What happens when fiscal and/or monetary policy changes systematically? We construct a DSGE model in which agents have …

learning, choosing among a set of alternative forecasting models. The analysis is accompanied by empirical evidence on the …

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 …

creating the attention-shift. Double Machine Learning approach is then used to obtain statistical inferences of these empirical …

evolutionary learning set-up, which is imitative, principals can have different beliefs about the distribution of agents' types in …

We analyse the dynamics resulting from social learning in a simple general equilibrium (GE) model, whose structure is … social learning. We discuss the robustness of the symmetric optimal equilibrium of this GE model, by testing the ability of … agents to coordinate on it through this learning scheme in the absence of substantive rationality and perfect information …