This paper introduces a reinforcement learning based approach to compute optimal interest rate reaction functions in …

A treatment of policy design for learnability in worlds where agents have potentially misspecified their learning … expectations. We assume that agents have only an approximate understanding of the workings of the economy and that their learning … parameterizations of a given policy rule, we use structured singular value analysis (from robust control theory) to find the largest …

certain features of monetary policy rules that facilitate learning. However a treatment of policy design for learnability in … worlds where agents have potentially misspecified their learning models has yet to surface. This paper provides such a … understanding of the workings of the economy and that their learning the reduced forms of the economy is subject to potentially …

, with agents following a strategy of least-squares learning or discounted least-squares learning. We find that the costs of … learning a new rule can, under some circumstances, be substantial. These circumstances vary with the preferences of the …

, with agents following a strategy of least- squares learning or discounted least-squares learning. We find that the costs of … learning a new rule can, under some circumstances, be substantial. These circumstances vary with the preferences of the …

with credit shocks and fire sales and (b) a dynamic stochastic general equilibrium (DSGE) model solved with deep learning …