processing rate. Although a decline of policy activism directly increases output volatility, it indirectly anchors expectations …

This note evaluates how adaptive learning agents weigh different pieces of information when forming expectations with a …

This paper evaluates how the way agents weight information when forming expectations can affect the econometric … lead to substantial biases to estimates of expectations relevance for inflation, and (ii) that these biases can spill over …

This paper analyzes how the formation of expectations constrains monetary and fiscal policy design. Economic agents … the policy regime using historical data. Regime uncertainty substantially narrows, relative to a rational expectations … analysis of the model, the menu of policies consistent with expectations stabilization. When agents are learning about the …

roles. First, it provides a boundedly rational model of how rational expectations can be achieved. Secondly, learning acts … as a selection device in models with multiple REE (rational expectations equilibria). Third, the learning dynamics …