stable equilibrium; however, depending on how agents forecast, stability is found to be related to observable characteristics …

stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …

stability under learning. Appropriately designed expectations-based rules can yield optimal rational expectations equilibria …

expectational stability as a selection criterion for different equilibria and derive the expectational stability and instability …

expectational stability as a robustness criterion for different equilibria. We derive the expectational stability and instability …

We consider “robust stability” of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …

agents and homogeneous learning. We study the local stability of REEs under heterogeneous adaptive learning, for the broad … general conditions for local stability of an REE. Even though in general, hetereogeneity may lead to different stability … conditions, we provide applications to various economic models where the stability conditions are identical to the conditions …