the Phillips curve the less does optimal policy aim towards learning. …

We examine optimal policy in a two-country model with uncertainty and learning, where monetary policy actions affect … because of the interaction between the home and foreign central banks. In a two-country symmetric equilibrium, learning is …

We respond to the challenge of explaining the Great Inflation by building a coherent framework in which both learning … improves our ability to explain the Great Inflation with a learning model. Bayesian MCMC estimation results are encouraging and …

This paper introduces adaptive learning and endogenous indexation in the New-Keynesian Phillips curve and studies … adaptive learning lowers the cost of disinflation. This reduction can be exploited by a gradual approach to disinflation. Firms …

policy-makers, learning from the experience of the 1970s, eschewed activist policies in favour of policies that concentrated …

uncertainty, that there is a learning cost associated with interest rate reversals. A policy that frequently reverses the interest … monetary policy internalizes this learning cost and therefore has a lower number of interest rate reversals. The incentive to …