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Uncertainty and Learning in Stochastic Macro Models

โœ Scribed by Piero Ferri; Anna Maria Variato


Book ID
106569495
Publisher
Springer US
Year
2010
Tongue
English
Weight
215 KB
Volume
16
Category
Article
ISSN
1083-0898

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Learning with bounded memory in stochast
โœ Seppo Honkapohja; Kaushik Mitra ๐Ÿ“‚ Article ๐Ÿ“… 2003 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 206 KB

Learning with bounded memory in stochastic frameworks is incomplete in the sense that the learning dynamics cannot converge to a rational expectations equilibrium (REE). The properties of dynamics arising from such rules are studied for standard models with steady states. If the REE in linear models