Consistent expectations and misspecification in stochastic non-linear economies

DOI10.1016/J.JEDC.2003.08.007MaRDI QIDQ953769zbMATH OpenOpenAlexFDO

Authors William A. Branch, Bruce McGough

Publication date 6 November 2008

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.2003.08.007

zbMATH Keywords

misspecificationrational expectationsadaptive learningnon-linear dynamics

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Rationality and learning in game theory (91A26) Heterogeneous agent models (91B69)

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Cites work

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• On Endogenous Competitive Business Cycles
• On the preservation of deterministic cycles when some agents perceive them to be random fluctuations
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Cited in

(18)

• Consistent expectations equilibria and learning in a stock market
• Good luck or good policy? An expectational theory of macro volatility switches
• Consistent expectations equilibria in Markov regime switching models and inflation dynamics
• Behavioral learning equilibria
• Restricted perception equilibria and rational expectation equilibrium
• EXPECTATIONS, STAGNATION, AND FISCAL POLICY: A NONLINEAR ANALYSIS
• A model of near-rational exuberance
• Nonlinear expectations in speculative markets -- evidence from the ECB Survey of Professional Forecasters
• Imperfect knowledge, liquidity and bubbles
• A stochastic cobweb dynamical model
• Heterogeneity and misspecifications in learning
• Dynamic predictor selection in a New Keynesian model with heterogeneous expectations
• Intrinsic heterogeneity in expectation formation
• Optimal monetary policy in a New Keynesian model with heterogeneous expectations
• Stable near-rational sunspot equilibria
• Consistency of linear forecasts in a nonlinear stochastic economy
• Expectations equilibria with dispersed forecasts
• Equilibrium stability in a nonlinear cobweb model

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