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

DOI10.1016/J.JEDC.2005.06.004MaRDI QIDQ956479zbMATH OpenOpenAlexFDO

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

zbMATH Keywords

learningmonetary policyrational expectationsstagflation

Mathematics Subject Classification ID

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

Recommendations

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Cites work

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

Cited in

(25)

• Natural rate doubts
• Adaptive learning in practice
• Pooling forecasts in linear rational expectations models
• Drifting inflation targets and monetary stagflation
• On the initialization of adaptive learning in macroeconomic models
• Government debt, learning and the term structure
• Learning and time-varying macroeconomic volatility
• Good luck or good policy? An expectational theory of macro volatility switches
• Heterogeneous response of disaggregate inflation to monetary policy regime change: the role of price stickiness
• Experimental evidence on inflation expectation formation
• Monetary policy strategies for the European Central Bank
• Exchange rates and fundamentals under adaptive learning
• Forecast combination, non-linear dynamics, and the macroeconomy
• Nonlinear Taylor rules: evidence from a large dataset
• Escape dynamics and policy specification
• Are the representative agent's beliefs based on efficient econometric models?
• scientific article; zbMATH DE number 3869010 (Why is no real title available?)
• Activist policy and macroeconomic instability
• Evolving macroeconomic perceptions and the term structure of interest rates
• Animal spirits and monetary policy
• Identifying monetary policy shocks using the central bank's information set
• Heterogeneous experience and constant-gain learning
• Learning, monetary policy rules, and macroeconomic stability
• Endogenous monetary policy with unobserved potential output
• The role of expectations in economic fluctuations and the efficacy of monetary policy

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