The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy, within a standard New Keynesian model, by means...

Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...

One of the main factors affecting the effectiveness of Error Correcting Output Coding (ECOC) methods for classification is the dependence among the errors of the computed codeword bits. We present an extensive experimental work for evaluating the dependence among output errors of the...