The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations

DOI10.1016/J.JEDC.2005.06.004zbMATH Open1198.91165OpenAlexW2121849922MaRDI QIDQ956479FDOQ956479

Authors: Athanasios Orphanides, John C. Williams 

Publication date: 25 November 2008

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

Full work available at URL: http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp337.pdf

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zbMATH Keywords

learningrational expectationsmonetary policystagflation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Rationality and learning in game theory (91A26)

Cites Work

• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• A real-time data set for macroeconomists
• Inflation Persistence
• Endogenous monetary policy with unobserved potential output

Cited In (24)

• Endogenous monetary policy with unobserved potential output
• Good luck or good policy? An expectational theory of macro volatility switches
• Evolving macroeconomic perceptions and the term structure of interest rates
• Learning, monetary policy rules, and macroeconomic stability
• The role of expectations in economic fluctuations and the efficacy of monetary policy
• Monetary policy strategies for the European Central Bank
• Escape dynamics and policy specification
• Learning and time-varying macroeconomic volatility
• Are the representative agent's beliefs based on efficient econometric models?
• On the initialization of adaptive learning in macroeconomic models
• Heterogeneous response of disaggregate inflation to monetary policy regime change: the role of price stickiness
• Animal spirits and monetary policy
• Natural rate doubts
• Identifying monetary policy shocks using the central bank's information set
• Government debt, learning and the term structure
• Adaptive learning in practice
• Forecast combination, non-linear dynamics, and the macroeconomy
• Pooling forecasts in linear rational expectations models
• Drifting inflation targets and monetary stagflation
• Nonlinear Taylor rules: evidence from a large dataset
• Title not available (Why is that?)
• Experimental evidence on inflation expectation formation
• Activist policy and macroeconomic instability
• Exchange rates and fundamentals under adaptive learning

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