Evans, George W.; Honkapohja, Seppo; Mitra, Kaushik - Centre for Dynamic Macroeconomic Analysis, University … - 2007
rational expectations. To model this we assume that agents combine limited structural knowledge with a standard adaptive …
model this we assume that agents combine limited structural knowledge with a
standard adaptive learning rule. We analyze …-
tural knowledge with a standard adaptive learning rule. We analyze
these issues using two well-known set-ups, an endowment …