The stability of macroeconomic systems with Bayesian learners

We study abstract macroeconomic systems in which expectations play an important role. Consistent with the recent literature on recursive learning and expectations, we replace the agents in the economy with econometricians. Unlike the recursive learning literature, however, the econometricians in the...

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Veröffentlicht in:	Journal of economic dynamics & control 2016-01, Vol.62, p.1-16
Hauptverfasser:	Bullard, James, Suda, Jacek
Format:	Artikel
Sprache:	eng
Schlagworte:	Agency theory Bayesian analysis Bayesian learning Bayesian method Expectational stability Learnability of rational expectations equilibrium Macroeconomics Recursive learning Studies
Online-Zugang:	Volltext
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