the help of econometric models. Agents use least squares learning to estimate two competing models of which one is … consistent with rational expectations once learning is complete. When past performance governs the choice of forecast model …

policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …

the help of econometric models. Agents use least squares learning to estimate two competing models of which one is … consistent with rational expectations once learning is complete. When past performance governs the choice of forecast model …

policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …