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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

Branch, William A.; Gasteiger, Emanuel - 2019

This paper develops a theory of endogenously (non-)Ricardian beliefs. That is, whether Ricardian Equivalence holds in … complex forecasting environments, agents forecast aggregate variables with (potentially) misspecified models that are optimal ….) multiple equilibria exist where the economy can coordinate on Ricardian or non-Ricardian equilibria. The theory suggests a …

Persistent link: https://www.econbiz.de/10011988962

Learning, heterogeneity, and complexity in the New Keynesian model

Calvert Jump, Robert; Hommes, Cars H.; Levine, Paul - In: Journal of economic behavior & organization : JEBO 166 (2019), pp. 446-470

Persistent link: https://www.econbiz.de/10012149103

Heterogeneous expectations, housing bubbles and tax policy

Martin, Carolin; Schmitt, Noemi; Westerhoff, Frank H. - 2020

We integrate a plausible expectation formation and learning scheme of boundedly rational investors into a standard user cost housing market model, involving a rental and a housing capital market. In particular, investors switch between heterogeneous expectation rules according to an evolutionary...

Persistent link: https://www.econbiz.de/10012164832

Heterogeneous expectations and the distribution of wealth

Acedański, Jan - In: Journal of macroeconomics 53 (2017), pp. 162-175

Persistent link: https://www.econbiz.de/10011753432

Optimal monetary policy in a New Keynesian model with heterogeneous expectations

Di Bartolomeo, Giovanni; Di Pietro, Marco; Giannini, Bianca - In: Journal of economic dynamics & control 73 (2016), pp. 373-387

Persistent link: https://www.econbiz.de/10011709115

Learning from the Expectations of Others

Granato, Jim; Guse, Eran; Wong, M. C. Sunny - 2012

' mean squared forecast error can be even larger than that of following firms if the proportion of following firms is …

Persistent link: https://www.econbiz.de/10014104846

Chapter 9. Heterogeneous Agent Modeling: Experimental Evidence

Arifovic, Jasmina; Duffy, John - In: Handbook of computational economics : Volume 4: …, (pp. 491-540). 2018

We report on experimental evidence rationalizing the use of heterogeneous agent models. We provide compelling evidence that subjects in laboratory experiments often behave in ways that depart from the rational choice ideal. Further, these subjects' heuristic approaches often differ from one...

Persistent link: https://www.econbiz.de/10014024349

Adaptive learning with heterogeneous expectations in an estimated medium-scale New Keynesian model

Elias, Christopher J. - In: Journal of macroeconomics 71 (2022), pp. 1-29

Persistent link: https://www.econbiz.de/10013328026

Analogy-based expectation equilibrium and related concepts : theory, applications, and beyond

Jehiel, Philippe - 2022

Persistent link: https://www.econbiz.de/10013331064