infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably farsighted. But, under Euler-equation learning, the model can fit the data with only …

develops a model featuring enforcement frictions, learning, and a financing cost advantage of trade credit that can rationalize … factor limiting the use of trade credit. Through learning, this uncertainty resolves within a relationship over time. For …

illustrate this, I construct a Becker model with misperception and learning that can explain all the empirical findings. …

. Learning played a major role in individuals achieving what was referred to as complete rationality. I draw on these ideas, and …

We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show … order to facilitate private sector learning and thus ease the future intratemporal inflation-output gap trade-offs. The … policy recommendation is robust: the welfare loss entailed by the optimal policy under learning if the private sector …