Generalized adaptive expectations revisited

Marco Sorge

Economics Letters, 2013, vol. 120, issue 2, 203-205

Abstract: This paper revisits the generalized adaptive expectations (GAE) mechanism presented by Shepherd (2012) [When are adaptive expectations rational? A generalization, Economics Letters, 115, 4–6]. It provides the precise conditions under which GAE hold, and also discusses its implications for the modeling of expectations in macroeconomic models.

Keywords: Adaptive expectations; Rational expectations; Kalman filter (search for similar items in EconPapers)
JEL-codes: C22 C53 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:120:y:2013:i:2:p:203-205

DOI: 10.1016/j.econlet.2013.04.033

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