E-Dissertationen: Search
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Essays on Adaptive Learning with Applications to Monetary Policy
(2008)
While the concept of rational expectations has become the standard tool of modellingexpectations in macroeconomic models, it has been criticised for its high information and rationality requirements. Moreover, rational ...
Learning in Macroeconomics: An Empirical Approach
(2009-04-23)
This thesis explores the role of adaptive learning in explaining empirical phenomena such as the Great Inflation. We show that the historic monetary policy deviated from the optimally recommended policy under learning. ...