expectations by way of learning. The inspection of output and inflation variances show that a policy of reacting to excess money …

multi-period forecasting model that is estimated under both adaptive learning and rational expectations. Term structure … neglected in the adaptive learning literature. Relative to the rational expectations version, our estimated DSGE model under … adaptive learning largely improves the model fit to the data, which include not just macroeconomic data but also the yield …

In this paper, we document the importance of memory in machine learning (ML)-based models relying on firm …