Notes on Agents’ Behavioral Rules Under Adaptive Learning and Studies of Monetary Policy

These notes try to clarify some discussions on the formulation of individual intertemporal behavior under adaptive learning in representative agent models. First, we discuss two suggested approaches and related issues in the context of a simple consumption-saving model. Second, we show that the analysis of learning in the NewKeynesian monetary policy model based on “Euler equations” provides a consistent and valid approach.

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Year of publication:	2011
Authors:	Honkapohja, Seppo ; Mitra, Kaushik ; Evans, George W.
Institutions:	Scottish Institute for Research in Economics (SIRE)
Subject:	Euler equation \| New Keynesian \| Adaptive learning

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Series:	SIRE Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series SIRE-DP-2011-04 Number 2011-04
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010553677