Learning, monetary policy rules, and macroeconomic stability

DOI10.1016/J.JEDC.2007.12.004zbMATH Open1181.91204OpenAlexW2010498262MaRDI QIDQ844780FDOQ844780

Authors Fabio Milani 

Publication date 19 January 2010

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.2007.12.004

zbMATH Keywords

Bayesian estimationmonetary policyexpectationslearnabilityconstant-gain learningmacroeconomic instability

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82) Dynamic stochastic general equilibrium theory (91B51) Rationality and learning in game theory (91A26) Heterogeneous agent models (91B69)

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Cites Work

• A simple recursive forecasting model
• Bayesian Analysis of DSGE Models
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• Monetary policy, indeterminacy and learning
• The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations
• Time Varying Structural Vector Autoregressions and Monetary Policy

Cited In (20)

• Endogenous monetary policy with unobserved potential output
• Monetary policy rules in a non-rational world: a macroeconomic experiment
• Good luck or good policy? An expectational theory of macro volatility switches
• Trend growth and learning about monetary policy rules
• Title not available (Why is no real title available?)
• Learning and optimal monetary policy
• Monetary policy, learning and the speed of convergence
• MONETARY POLICY OVER TIME
• Parameters estimation and stability analysis of nonlinear fractional-order economic system based on empirical data
• Learning and time-varying macroeconomic volatility
• On the initialization of adaptive learning in macroeconomic models
• The implications of financial frictions and imperfect knowledge in the estimated DSGE model of the U.S. economy
• Learnability of an equilibrium with private information
• The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations
• Adaptive learning in practice
• Learning and loss functions: comparing optimal and operational monetary policy rules
• Adaptive Learning and Central Bank Inattentiveness in Optimal Monetary Policy
• An approximation of the distribution of learning estimates in macroeconomic models
• Asymmetric preferences in real-time learning and the Taylor rule
• Bounded rationality, monetary policy, and macroeconomic stability

Uses Software

• bvarsv

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