framework. Learning about the transmission process of monetary policy is introduced by having heterogeneous agents – ie central … of the term structure of interest rates. Here, following Evans and Honkapohja (2001), the learning scheme we investigate … is that of least-squares learning (recursive OLS) using the Kalman filter. We find that optimal monetary policy under …

. Learning about the transmission process of monetary policy is introduced by having heterogeneous agents - i.e. the central bank …. Here following Evans and Honkapohja (2001), the learning scheme we investigate is that of least-squares learning (recursive … OLS) using the Kalman filter. We find that optimal monetary policy under learning is a policy that separates estimation …

active learning possibilities has e®ects on the optimal interest rate rule followed by the central bank.For a wide range of …

. Learning about the transmission process of monetary policy is introduced by having heterogeneous agents - i.e. the central bank …. Here following Evans and Honkapohja (2001), the learning scheme we investigate is that of least-squares learning (recursive … OLS) using the Kalman filter. We find that optimal monetary policy under learning is a policy that separates estimation …

, results depend on the learning scheme that is employed.Here, the learning scheme we investigate is that of least …-squares learning (recursive OLS) using the Kalman filter.A novel feature of a learning-based policy as against the central bank …

, results depend on the learning scheme that is employed. Here, the learning scheme we investigate is that of least …-squares learning (recursive OLS) using the Kalman filter. A novel feature of a learning-based policy – as against the central bank …

, results depend on the learning scheme that is employed. Here, the learning scheme we investigate is that of least …-squares learning (recursive OLS) using the Kalman filter. A novel feature of a learning- based policy – as against the central bank …

active learning possibilities has effects on the optimal interest rate rule followed by the central bank. For a wide range of …

active learning possibilities has effects on the optimal interest rate rule followed by the central bank. For a wide range of …

In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework.Learning … Evans and Honkapohja (2001), the learning scheme we investigate is that of least-squares learning (recursive OLS) using the … Kalman filter.We find that optimal monetary policy under learning is a policy that separates estimation and control …