not well known in France. We show that the procedure satisfies desirable properties of stability and optimality. In order …

not well known in France. We show that the procedure satisfies desirable properties of stability and optimality. In order …

not well known in France. We show that the procedure satisfies desirable properties of stability and optimality. In order …

presented. For a wide range of solutions to economic models the stability conditions for REE under statistical learning rules …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 …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …

dynamically stable for a wide class of adaptive dynamics. We argue that supermodularity is not a desirable stability criterion in … stability while gaining budget balance out of equilibrium. …

models of expectations formation that rely on econometric learning. Some apparently natural policy rules turn out to imply … expectational instability of private agents' learning. We use the standard New Keynesian model to illustrate this problem and survey … the key results for interest-rate rules that deliver both uniqueness and stability of equilibrium under econometric …