Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy?

Seppo Mikko Sakari Honkapohja () and Kaushik Mitra ()

University of Helsinki, Department of Economics from Department of Economics

Abstract: Recent models of monetary policy and monetary rules can have indeterminacy of equilibria. The indeterminacy property is often viewed as a difficulty of these models. We consider its significance using the learning approach to expectations formation by employing expectational stability as a robustness criterion for different equilibria.

Keywords: MONETARY POLICY; MODELS; EXPECTATIONS (search for similar items in EconPapers)
JEL-codes: E52 E31 D84 (search for similar items in EconPapers)
Date: 2001
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Related works:
Working Paper: Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy? (2004)
Working Paper: Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy? (2001)
Working Paper: Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy?
Journal Article: Are non-fundamental equilibria learnable in models of monetary policy? (2004)
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