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

Seppo 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: D84 E31 E52 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2001
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Are non-fundamental equilibria learnable in models of monetary policy? (2004)
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?
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Persistent link: https://EconPapers.repec.org/RePEc:fth:helsec:501

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