Browsing by Subject "Ramsey model"

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Anticipated Fiscal Policy and Adaptive Learning

Evans, George W., 1949-; Honkapohja, Seppo, 1951-; Mitra, Kaushik (University of Oregon, Dept of Economics, 2007-02-18)

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 ...
Does Ricardian Equivalence Hold When Expectations are not Rational?

Evans, George W., 1949-; Honkapohja, Seppo, 1951-; Mitra, Kaushik, 1969- (University of Oregon, Dept of Economics, 2010-08-04)

This paper considers the Ricardian Equivalence proposition when expectations are not rational and are instead formed using adaptive learning rules. We show that Ricardian Equivalence continues to hold provided suitable ...