Adaptively evolving expectations in models of monetarydynamics‐ The fundamentalists forward looking

Carl Chiarella and P. Khomin

Annals of Operations Research, 1999, vol. 89, issue 0, 34 pages

Abstract: In the basic Cagan model of monetary dynamics, we allow inflationary expectations tobe formed as a weighted average of fundamentalist and chartists expectations. We allow theweights to evolve adaptively according to the mechanism of Brock and Hommes [3] and study the resulting dynamic behaviour. Copyright Kluwer Academic Publishers 1999

Date: 1999
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DOI: 10.1023/A:1018975607106

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