agents have perfectly rational expectations, is unstable if in fact these agents follow standard adaptive learning rules …. This problem can be overcome if private expectations are observed and suitable incorporated into the policy maker's optimal … observed household and firm expectations …

expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive … learning technology to form expectations and to update continuously their beliefs regarding the dynamic structure of the … between monetary policy and economic outcomes. We find that policies that would be efficient under rational expectations can …

agents have perfectly rational expectations, is unstable if in fact these agents follow standard adaptive learning rules …. This problem can be overcome if private expectations are observed and suitably incorporated into the policy maker's optimal … observed household and firm expectations …

expectations for the conduct of monetary policy. We first review the literature that studies the implications of adaptive learning … structure of the economy, including the precise mechanism generating private sector's expectations. The focus on optimal policy … allows us to investigate how and to what extent a change in the assumption of how agents form their inflation expectations …

separate inclusion of a labor market in the model helps to anchor inflation even in a situation of adaptive expectations, a … in fitting the data in Brazil. In addition, the estimation shows that expectations are more backward-looking and started …

intertemporal trade-off, not present under rational expectations: it is optimal to forego stabilizing the economy in the present in … actually has rational expectations is much smaller than if the central bank mistakenly assumes rational expectations when in …

intertemporal trade-off, not present under rational expectations: it is optimal to forego stabilizing the economy in the present in … actually has rational expectations is much smaller than if the central bank mistakenly assumes rational expectations when in …

interest rates, inflation and inflation expectations. Average-inflation targeting can approximate the price path observed under … policy rule. In particular, if the central bank considers more than two lags, subjects fail to form expectations that are … target helps somewhat anchor longrun inflation expectations. …

We use a version of the Fuhrer-Moore model to study the effects of expectations and central bank credibility on the …, the specification with adaptive expectations and partial credibility is the only one to capture the temporary rise in the … model that vary according to the way that expectations are formed (rational versus adaptive) and the degree of central bank …

' inflation expectations. We conduct a randomized controlled trial using the Bundesbank Online Panel Households. Participants are … to submit probabilistic in ation expectations. The results show that the vote is informative. Households revise their … is detrimental to coordinating household expectations. …