This chapter provides a survey of the recent work on learning in the context of macroeconomics. Learning has several … 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 …

equilibrium: eductive stability never obtains. This impossibility theorem has a counterpart when adaptive learning is incorporated …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …

be led to rules that generate indeterminacy and/or instability under learning. This problem is compounded by uncertainty … about structural parameters since an optimal rule that is determinate and stable under learning for one calibration may be … indeterminate or unstable under learning under a different calibration. We advocate a procedure in which policymakers restrict …

solutions under adaptive learning, focusing on "common factor" or "resonant frequency" representations in which the observed …

We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia …

" parameter which converges in the limit to zero. These systems have recently been used to study the dynamics of adaptive learning …