Learning and control in a changing econo
β
GΓΌnter W. Beck; Volker Wieland
π
Article
π
2002
π
Elsevier Science
π
English
β 213 KB
In this paper we investigate optimal Bayesian learning and control with lagged dependent variables and time-varying unknown parameters. We assess both the performance of alternative decision rules, as in the computationally-oriented dual control literature, as well as the dynamics of learning and co