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unemployment in the near term. We present a parsimonious model with adaptive learning and simple autoregressive forecasting rules … in unemployment and vacancies. We document a new feature it is unable to replicate: properties of survey forecasts of …
Persistent link: https://www.econbiz.de/10012977473
Different theories of expectation formation and learning usually yield different outcomes for realized market prices in … dynamic models. The purpose of this paper is to investigate expectation formation and learning in a controlled experimental …
Persistent link: https://www.econbiz.de/10011333266
cycle model of occupational choices based on workers learning about their type and sorting themselves to the best job match …
Persistent link: https://www.econbiz.de/10013048870
The empirical literature on employer learning assumes that employers learn about unobserved ability differences across …
Persistent link: https://www.econbiz.de/10014237689
these interactions, there are learning spillovers: coworkers learn general skills from each other that increase future … their own education. Next, I show that learning spillovers are empirically relevant. Using matched administrative data from …
Persistent link: https://www.econbiz.de/10012292076
This article describes the value added by a stock-and-flow feedback diagram to text-only instruction in macroeconomics. The experiment was motivated by a prior study in which the use of graphs to teach macroeconomics was no more effective than verbal instruction alone. Here, in contrast,...
Persistent link: https://www.econbiz.de/10014218189
creating the attention-shift. Double Machine Learning approach is then used to obtain statistical inferences of these empirical …
Persistent link: https://www.econbiz.de/10013250843
We analyse the dynamics resulting from social learning in a simple general equilibrium (GE) model, whose structure is … social learning. We discuss the robustness of the symmetric optimal equilibrium of this GE model, by testing the ability of … agents to coordinate on it through this learning scheme in the absence of substantive rationality and perfect information …
Persistent link: https://www.econbiz.de/10013048351
infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably farsighted. But, under Euler-equation learning, the model can fit the data with only …
Persistent link: https://www.econbiz.de/10013229788
The interaction between monetary and fiscal policy and the associated uncertainty about this interaction have been put on center stage by the recent financial crisis and the associated recession. In our model agents learn about both fiscal and monetary policy rules via the Kalman Filter. In...
Persistent link: https://www.econbiz.de/10010491162