Learning and Expectations in Macroeconomics

A crucial challenge for economists is figuring out how people interpret the world and form expectations that will likely influence their economic activity. Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expec...

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Bibliographic Details
Main Authors	Evans, George W, Honkapohja, Seppo
Format	eBook Publication
Language	English
Published	Princeton, NJ Princeton University Press 2012
Series	Frontiers of Economic Research
Subjects	Adaptive Erwartungen Adaptive expectations Adaptive learning Algorithm Begrenzte Rationalität Behavioral economics BUSINESS & ECONOMICS BUSINESS & ECONOMICS / Economic History Calculation Cobweb model Computational economics Coordination failure (economics) Cost curve Demand curve Differential equation Econometric model Economic bubble Economic Conditions Economic equilibrium Economic History Economic policy Economics Economist Eigenvalues and eigenvectors Endogenous growth theory Equation Equilibrium point Estimation Estimation theory Estimator Exchange rate Financial economics Fiscal policy Forecast error Forecasting General equilibrium theory Inflation Inflation targeting Initial value problem Interest rate Large-scale macroeconometric model Learning effect (economics) Learning rule Least squares Lernen Linear model Local convergence Macroeconomic model Macroeconomics Makroökonomik Marginal product Market economy Market price Markov chain Markov process Mathematical optimization Monetary policy Nichtlineare Regression Nominal interest rate Parameter Preference (economics) Price level Probability Production function Rational expectations Rational expectations (Economic theory) Real business-cycle theory Recursion (computer science) Special case Stability theory State variable Stochastic approximation Stochastic calculus Stochastic differential equation Stochastic process Stochastic simulation Stochastischer Prozess Supply (economics) Supply and demand Technical progress (economics) Theorie Variable (mathematics) Coordination failure (economics) Interest rate Stochastic approximation Production function Stochastic process Market price State variable Supply and demand Eigenvalues and eigenvectors Recursion (computer science) Cobweb model Calculation Exchange rate Macroeconomic model Economics Adaptive learning Inflation targeting Endogenous growth theory Estimator Estimation Initial value problem Price level Supply (economics) Adaptive expectations Forecasting Algorithm Stability theory Learning effect (economics) Economist Economic bubble Least squares Forecast error Special case Nominal interest rate Economic equilibrium Mathematical optimization Market economy Computational economics Markov process Fiscal policy Differential equation Economic policy Linear model Marginal product Markov chain Inflation Monetary policy Learning rule Macroeconomics Local convergence Cost curve Stochastic differential equation Preference (economics) General equilibrium theory Large-scale macroeconometric model Estimation theory Probability Econometric model Equation Demand curve Stochastic simulation Technical progress (economics) Behavioral economics Equilibrium point Variable (mathematics) Real business-cycle theory Stochastic calculus Rational expectations Parameter Financial economics
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ISBN	9780691049212 0691049211 9781400824267 1400824265
DOI	10.1515/9781400824267

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Table of Contents:

Front Matter Table of Contents Preface Chapter 1: Expectations and the Learning Approach Chapter 2: Introduction to the Techniques Chapter 3: Variations on a Theme Chapter 4: Applications Chapter 5: The Mathematical Background Chapter 6: Tools: Chapter 7: Further Topics in Stochastic Approximation Chapter 8: Univariate Linear Models Chapter 9: Further Topics in Linear Models Chapter 10: Multivariate Linear Models Chapter 11: Nonlinear Models: Chapter 12: Cycles and Sunspot Equilibria Chapter 13: Misspecification and Learning Chapter 14: Persistent Learning Dynamics Chapter 15: Extensions and Other Approaches Chapter 16: Conclusions Bibliography Author Index Subject Index
Author Index Subject Index 16. Conclusions Bibliography 15. Extensions and Other Approaches 14. Persistent Learning Dynamics Part V: Further Topics 13. Misspecification and Learning 12. Cycles and Sunspot Equilibria Part IV: Learning in Nonlinear Models 11. Nonlinear Models: Steady States 10. Multivariate Linear Models 9. Further Topics in Linear Models Part III: Learning in Linear Models 8. Univariate Linear Models 7. Further Topics in Stochastic Approximation 6. Tools: Stochastic Approximation Part II: Mathematical Background and Tools 5. The Mathematical Background 4. Applications 3. Variations on a Theme 2. Introduction to the Techniques Part I: View of the Landscape 1. Expectations and the Learning Approach Cover Title Page, Copyright Contents Preface
Chapter 13. Misspecification and Learning
Part III. Learning in Linear Models --
Chapter 7. Further Topics in Stochastic Approximation
Chapter 11. Nonlinear Models: Steady States
Subject Index
Chapter 10. Multivariate Linear Models
Part V. Further Topics --
Author Index
Chapter 6. Tools: Stochastic Approximation
Chapter 12. Cycles and Sunspot Equilibria
Part I. View of the Landscape --
Chapter 16. Conclusions
Part IV. Learning in Nonlinear Models --
Chapter 9. Further Topics in Linear Models
Preface
Chapter 2. Introduction to the Techniques
Chapter 4. Applications
Chapter 1. Expectations and the Learning Approach
Chapter 15. Extensions and Other Approaches
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Part II. Mathematical Background and Tools --
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Contents
Chapter 5. The Mathematical Background
Frontmatter --
Chapter 14. Persistent Learning Dynamics
Chapter 3. Variations on a Theme
Chapter 8. Univariate Linear Models
Bibliography