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Behavioral New Keynesian Models : Learning vs. Cognitive Discounting

Meggiorini, Greta; Milani, Fabio - 2021

This paper estimates a New Keynesian model with new and old behavioral elements. Agents in the model exhibit cognitive discounting, or myopia: they discount variables far into the future at higher rates than typically implied in the benchmark model. We investigate the model under different...

Persistent link: https://www.econbiz.de/10013229788

The learnability criterion and monetary policy

Bullard, James B. - In: Review / Federal Reserve Bank of St. Louis 88 (2006) 3, pp. 203-217

Persistent link: https://www.econbiz.de/10003339533

Monetary policy under behavioral expectations : theory and experiment

Hommes, Cars H.; Massaro, Domenico; Weber, Matthias - In: European economic review : EER 118 (2019), pp. 193-212

Persistent link: https://www.econbiz.de/10012263041

Behavioral learning equilibria in the new Keynesian model

Hommes, Cars H.; Mavromatis, Kostas; Özden, Tolga; Zhu, Mei - 2019

Persistent link: https://www.econbiz.de/10012062586

Behavioral New Keynesian models : learning vs. cognitive discounting

Meggiorini, Greta; Milani, Fabio - 2021

Persistent link: https://www.econbiz.de/10012509319

Behavioral Learning Equilibria in New Keynesian models

Hommes, Cars H.; Mavromatis, Kostas; Özden, Tolga; Zhu, Mei - In: Quantitative economics : QE ; journal of the … 14 (2023) 4, pp. 1401-1445

We introduce Behavioral Learning Equilibria (BLE) into a multivariate linear framework and apply it to New Keynesian DSGE models. In a BLE, boundedly rational agents use simple, but optimal AR(1) forecasting rules whose parameters are consistent with the observed sample mean and autocorrelation...

Persistent link: https://www.econbiz.de/10014496533

Stabilisierungsfonds und makroökonomische Governance

Jerger, Jürgen; Migrow, Dimitri - 2009

Persistent link: https://www.econbiz.de/10003908055

Procyclical monetary policy and governance

Choudhary, M. Ali (contributor) - 2010

Persistent link: https://www.econbiz.de/10008757422

Stabilisierungsfonds und makroökonomische Governance

Jerger, Jürgen; Migrow, Dimitri - 2009

Stabilisierungsfonds haben in den vergangenen Jahren, insb. während der letzten Energie- und Rohstoffpreishausse bis zum Sommer 2008, an Bedeutung gewonnen. In diesem Beitrag wird der Frage nachgegangen, welche strategische Rolle diese Fonds für die makroökonomische Governance von Ländern...

Persistent link: https://www.econbiz.de/10003851234

Public Governance of Central Banks : An Approach from New Institutional Economics

Oritani, Yoshiharu - 2013

central banks. First, Williamson's theory of "governance as integrity" (probity) is applied to the internal management of … central banks. Moe's theory of "public bureaucracy" is applied to the concept of central bank independence. Second, we apply … agency theory to the issues associated with central bank independence and accountability. Third, public choice theory is …

Persistent link: https://www.econbiz.de/10013094790