Most studies of optimal monetary policy under learning rely on optimality conditions derived for the case when agents …, and makes active use of, the learning algorithm agents follow in forming their expectations. In this setup, monetary … policy can influence future expectations through its e ect on learning dynamics, introducing an additional tradeo between …

have good or bad work habits. These traits are transmitted from one generation to the next through a learning and imitation …

active learning possibilities has effects on the optimal interest rate rule followed by the central bank.For a wide range of …

equilibrium dynamics resulting from this learning process helps to explain the main stylized facts of free-floating exchange rates … the number of agents (not more than about 1000). With a larger population, this collective learning dynamics looses its … Hauptinteresse geht dahin, herauszufinden, ob die Gleichgewichtsdynamik, die aus diesem Lernprozess resultiert, dabei helfen kann …

equilibrium dynamics resulting from this learning process helps to explain the main stylized facts of free-floating exchange rates …) and the number of agents (not more than about 1000). With a larger population, this collective learning dynamics looses …

We show that, when private sector expectations are determined in line with adaptive learning, optimal policy responds …

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

: rational expectations and learning. We show that in this environment the ability to stabilize the real side of the economy is … private learning and misperceptions of natural rates call for greater policy inertia, a more aggressive response to inflation … economy. We show that such policies are quite robust to potential misspecification of private sector learning and the …

'sunspots'. Separately, recent work by a number of authors has shown that sunspot equilibria previously thought to be unstable … under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …