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 … central bank can design policy to account for perturbations and still assure the learnability of the model. We provide two …

certain features of monetary policy rules that facilitate learning. However a treatment of policy design for learnability in …In recent years, the learnability of rational expectations equilibria (REE) and determinacy of economic structures have … worlds where agents have potentially misspecified their learning models has yet to surface. This paper provides such a …

certain features of monetary policy rules that facilitate learning. However a treatment of policy design for learnability in …In recent years, the learnability of rational expectations equilibria (REE) and determinacy of economic structures have … worlds where agents have potentially misspecified their learning models has yet to surface. This paper provides such a …

learnability has yet to surface, especially for cases in which agents have potentially misspecified their learning models. This … policy that accounts for learning errors but also succeeds in bounding them in a way that allows eventual learnability of the …In recent years, the learnability of rational expectations equilibria (REE) and determinacy of economic structures have …

, 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 …