Search Results - subject:"least-squares Learning"

Learning and informational stability of dynamic REE with incomplete information

Rondina, Giacomo; Walker, Todd B. - In: Review of economic dynamics 21 (2016), pp. 147-159

Persistent link: https://www.econbiz.de/10011635874

Coexistence of stable equilibria under least squares learning

Kopányi, Dávid - 2015

This paper illustrates that least squares learning may lead to suboptimal outcomes even when the estimated function … that face different transportation costs. Firms do not know the demand structure and they apply least squares learning to … not been found in the literature on least squares learning before. Both the Nash equilibrium and the asymmetric learning …

Persistent link: https://www.econbiz.de/10011444283

Coexistence of stable equilibria under least squares learning

Kopányi, Dávid - 2015

Persistent link: https://www.econbiz.de/10010530640

Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation

Lubik, Thomas A.; Matthes, Christian - Crawford School of Public Policy, Australian National … - 2014

We argue in this paper that the Great Inflation of the 1970s can be understood as the result of equilibrium indeterminacy in which loose monetary policy engendered excess volatility in macroeconomic aggregates and prices. We show, however, that the Federal Reserve inadvertently pursued policies...

Persistent link: https://www.econbiz.de/10010904252

Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation

Lubik, Thomas A.; Matthes, Christian - Federal Reserve Bank of Richmond - 2014

Persistent link: https://www.econbiz.de/10010758364

Indeterminacy and learning : an analysis of monetary policy in the great inflation

Lubik, Thomas A.; Matthes, Christian - 2014

Persistent link: https://www.econbiz.de/10010244587

Indeterminacy and learning : an analysis of monetary policy in the great inflation

Lubik, Thomas A.; Matthes, Christian - 2014

Persistent link: https://www.econbiz.de/10010251607

Excessive volatility is also a feature of individual level forecasts

Nursimulu, Anjali; Bossaerts, Peter L. - In: The journal of behavioral finance : a publication of … 15 (2014) 1, pp. 16-29

Persistent link: https://www.econbiz.de/10011338959

Optimal monetary policy under heterogeneity in currency trade

Bask, Mikael - 2007

We embed an expectations-based optimal policy rule into a DSGE model for a small open economy that is augmented with trend extrapolation or chartism, which is a form of technical trading, in currency trade to examine the prerequisites for monetary policy. We find that a unique REE that is...

Persistent link: https://www.econbiz.de/10012148010

Instrument rules in monetary policy under heterogeneity in currency trade

Bask, Mikael - 2007

We embed different instrument rules into a New Keynesian model for a small open economy that is augmented with technical trading in currency trade to examine the prerequisites for monetary policy. Specifically, this paper focuses on conditions for a determinate, least-squares learnable rational...

Persistent link: https://www.econbiz.de/10012148011