Heterogeneity and misspecifications in learning

DOI10.1016/J.JEDC.2006.11.002zbMath1163.91495OpenAlexW2013865603MaRDI QIDQ1027414

Michele Berardi

Publication date: 1 July 2009

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2006.11.002

zbMATH Keywords

adaptive learningheterogeneous expectationsexpectations formationmisspecifications

Mathematics Subject Classification ID

Time series, auto-correlation, regression, etc. in statistics (GARCH) (62M10) Macroeconomic theory (monetary models, models of taxation) (91B64) Rationality and learning in game theory (91A26)

Related Items (13)

Heterogeneity and learning with complete markets ⋮ Inflation expectations and macroeconomic dynamics: the case of rational versus extrapolative expectations ⋮ Heterogeneous expectations in monetary DSGE models ⋮ Optimal monetary policy in a New Keynesian model with heterogeneous expectations ⋮ Asset pricing with expectation shocks ⋮ Learnability of an equilibrium with private information ⋮ Learning benevolent leadership in a heterogeneous agents economy ⋮ Fundamentalists vs. chartists: learning and predictor choice dynamics ⋮ Behavioral learning equilibria ⋮ An agent-based macroeconomic model with interacting firms, socio-economic opinion formation and optimistic/pessimistic sales expectations ⋮ Home biased expectations and macroeconomic imbalances in a monetary union ⋮ Learning in a credit economy ⋮ Heterogeneous expectations, sunspot equilibria and their fragility

Cites Work

• Unnamed Item
• Stable sunspot solutions in models with predetermined variables
• Performance of monetary policy with internal central bank forecasting
• Consistent expectations and misspecification in stochastic non-linear economies
• On the relationship between determinate and MSV solutions in linear RE models
• Intrinsic heterogeneity in expectation formation

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