shows that agents' learning and the dynamics of the economy are heavily affected by central bank transparency about its … policy rule. A central bank that does not communicate its rule can induce 'learning equilibria' in which the economy …

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

information is subject to multiplier effects inherent to social learning. We build upon the static case, where all agents receive … dissemination of public information is thus considerably lower than the static case suggests. If the social learning signal is …

information is subject to multipliereffects inherent to social learning. We build upon the static case, where all agents receive a … dissemination of public information is thus considerably lower than the static case suggests. If the social learning signal is …

We study the impact of adaptive learning for the design of a robust monetary policy using a small open-economy New … with model misspecification. Learning induces an intertemporal trade-off for the central bank, i.e., stabilizing inflation … possibility to conduct robust monetary policy is limited in a small open economy under learning for any exchange rate pass …