Blar i Arbeidsnotater / Working Papers på emneord "rational expectations"
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Optimal Monetary Policy When Agents Are Learning
(Working Papers;8/2010, Working paper, 2010)We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show that this slight departure from rationality has important implications for policy design. The central bank ... -
Simulating Forward-Looking Models
(Working Papers;9/2001, Working paper, 2001)The solutions of a macroeconometricmodel with expectations of future-dated variables has to be approximated by numerical simulations. A brief review of deterministic and stochastic dynamic simulations of a backward-looking ...