The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …

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 …

when solved under the assumptions of Rational Expectations and learning. This information serves as an additional moment … restriction and helps to determine the forecasting model for inflation that agents use under learning. My results reveal that the … predictive power of this model is improved when using both survey data and an admissible learning rule for the formation of …

losses are outweighed by short term gains from the learning phase …

ability to explain the facts, such that the theory supports both a negative and a positive response of inflation. Central to …