not its permanent and transitory components separately. The model''s predictions under learning differ substantially from … explanations of the Feldstein-Horioka puzzle, learning induces high correlations irrespective of the assumed persistence of shocks …

This paper considers optimal communication by monetary policy committees in a model of imperfect knowledge and learning … learning about the committee''s decision-making process and policy preferences. When committee members have heterogeneous …

benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the …

theory to model these inference exercises and to assess their general possibility of success. So, is it possible to infer …

stability under adaptive learning for interest rate rules that respond to inflation measures differing in their degree of price …

selection of more efficient producers into exporting or by learning-by-exporting. By thinking about the mechanisms behind … selectivity and learning, however, our finding of higher premiums for direct exporters and exporters to outside Africa could be … interpreted as being consistent with learning-by-exporting effects. However, if learning-by-exporting is indeed present in the …