Anticipated Fiscal Policy and Adaptive Learning
| dc.contributor.author | Evans, George W., 1949- | |
| dc.contributor.author | Honkapohja, Seppo, 1951- | |
| dc.contributor.author | Mitra, Kaushik | |
| dc.date.accessioned | 2007-03-06T01:04:17Z | |
| dc.date.available | 2007-03-06T01:04:17Z | |
| dc.date.issued | 2007-02-18 | |
| dc.description | 44 p. | en |
| dc.description.abstract | We consider the impact of anticipated policy changes when agents form expectations using adaptive learning rather than rational expectations. To model this we assume that agents combine limited structural knowledge with a standard adaptive learning rule. We analyze these issues using two well-known set-ups, an endowment economy and the Ramsey model. In our set-up there are important deviations from both rational expectations and purely adaptive learning. Our approach could be applied to many macroeconomic frameworks. | en |
| dc.description.sponsorship | Financial support from National Science Foundation Grant No. SES-0617859 and ESRC grant RES-000-23-1152 is gratefully acknowledged. | en |
| dc.format.extent | 389799 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.identifier.uri | https://hdl.handle.net/1794/3912 | |
| dc.language.iso | en_US | en |
| dc.publisher | University of Oregon, Dept of Economics | en |
| dc.relation.ispartofseries | University of Oregon Economics Department Working Papers ; | en |
| dc.relation.ispartofseries | 2007-5 | en |
| dc.subject | Taxation | en |
| dc.subject | Expectations | en |
| dc.subject | Ramsey model | en |
| dc.title | Anticipated Fiscal Policy and Adaptive Learning | en |
| dc.type | Working Paper | en |