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 …

models of expectations formation that rely on econometric learning. Some apparently natural policy rules turn out to imply … expectational instability of private agents’ learning. We use the standard New Keynesian model to illustrate this problem and survey … learning. We then consider some practical concerns such as measurement errors in private expectations, observability of …

by growth expectations. Adaptive learning dynamics determine the country-specific short-run transition paths. The …

by growth expectations. Adaptive learning dynamics determine country-specific short run transition paths. Countries …

models of expectations formation that rely on econometric learning. Some apparently natural policy rules turn out to imply … expectational instability of private agents’ learning. We use the standard New Keynesian model to illustrate this problem and survey … learning. We then consider some practical concerns such as measurement errors in private expectations, observability of …

by growth expectations. Adaptive learning dynamics determine country-specific short run transition paths. Countries …

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