The stability of macroeconomic systems with Bayesian learners

DOI10.1016/J.JEDC.2015.09.004MaRDI QIDQ1656502zbMATH OpenOpenAlexFDO

Authors James Bullard, Jacek Suda

Publication date 10 August 2018

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2015.09.004

zbMATH Keywords

Bayesian learningrecursive learningexpectational stabilitylearnability of rational expectations equilibrium

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82)

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Cites work

• scientific article; zbMATH DE number 3390199 (Why is no real title available?)
• Convergence of least squares learning mechanisms in self-referential linear stochastic models
• Learning and control in a changing economic environment.
• Learning by doing and the value of optimal experimentation
• Optimal Control of an Unknown Linear Process with Learning
• Properties of equilibrium asset prices under alternative learning schemes
• Rational Expectations Equilibria, Learning, and Model Specification
• STATISTICAL LEARNING WITH TIME-VARYING PARAMETERS
• Time-varying parameters and nonconvergence to rational expectations under least squares learning

Cited in

(4)

• The RPEs of RBCs and other DSGEs
• Does near-rationality matter in first-order approximate solutions? A perturbation approach
• On the initialization of adaptive learning in macroeconomic models
• Expectations Formation and Stability of Large Socioeconomic Systems

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