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

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)

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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

(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
• Are the representative agent's beliefs based on efficient econometric models?
• Escape dynamics and policy specification
• Learning and time-varying macroeconomic volatility
• 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
• Government debt, learning and the term structure
• Identifying monetary policy shocks using the central bank's information set
• Adaptive learning in practice
• Pooling forecasts in linear rational expectations models
• Forecast combination, non-linear dynamics, and the macroeconomy
• Drifting inflation targets and monetary stagflation
• Nonlinear Taylor rules: evidence from a large dataset
• scientific article; zbMATH DE number 3869010 (Why is no real title available?)
• Experimental evidence on inflation expectation formation
• Activist policy and macroeconomic instability
• Exchange rates and fundamentals under adaptive learning

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