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Browsing Economics Working Papers by Subject "Learning"
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Now showing items 1-4 of 4
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(University of Oregon, Dept. of Economics, 2004-03-29)We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia. Indeterminacy remains prevalent, stable sunspots abound, and inertia in IS and AS relations do not ...
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(University of Oregon, Dept of Economics, 2005-09-17)We study how the use of judgement or "add-factors" in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which ...
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(University of Oregon, Dept of Economics, 2005-05-19)We show that if policy-makers compute the optimal unconstrained interest-rate rule within a Taylor-type class, they may be led to rules that generate indeterminacy and/or instability under learning. This problem is compounded ...
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(University of Oregon, Dept of Economics, 2006-10-09)We consider a linear univariate rational expectations model, with a predetermined variable, and study existence and stability of solutions driven by an extraneous finite-state Markov process. We show that when the model ...
Now showing items 1-4 of 4