expectations in the economy and in the conduct of monetary policy. Agents are assumed to have imperfect knowledge of the precise … structure of the economy and the policymakers' preferences. Expectations are governed by a perpetual learning technology. With …

This paper investigates the role that imperfect knowledge about the structure of the economy plays in the formation of … learning technology to form expectations and continuously update their beliefs regarding the dynamic structure of the economy …

reference model while the true economy lies within a specified neighborhood of the reference model. In this paper, we show that … economy. We find that a robust outcome is attainable only in cases where the objective function places substantial weight on … tolerance of each model economy with respect to deviations from optimal policy. …

economy's evolution over time. The paper derives conditions under which the parameters in a policymaker's policy objective …-price model of the US economy, estimating jointly all of the model's behavioral parameters and the policy regime parameters. The …

algorithm allows them to gradually discover the truth as the economy evolves over time. Under a Taylor-type rule, the model can …

economy. We compare the properties and outcomes of explicit "instrument rules" as well as "targeting rules." The latter, which …