Essays on Adaptive Learning with Applications to Monetary Policy PDF Download
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Author: Oliver Fries
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Oliver Fries
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Suleyman Cem Karaman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Naoki Funai
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Laura Christina Steiger
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 264
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Author: Bruce J. Preston
Publisher:
ISBN:
Category :
Languages : en
Pages : 185
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Author: Alan Arthur Walters
Publisher: Edward Elgar Publishing
ISBN: 9781781957615
Category : Business & Economics
Languages : en
Pages : 386
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Book Description
As a tribute to the exceptional contributions of Alan Walters to monetary theory and policy, this book draws together a distinguished cast of international contributors to write about money. In a series of essays they review controversies in monetary economics and debate current policy issues. Combining theoretical analysis with policy evaluation, this book touches on a whole spectrum of issues ranging from monetary union and exchange rate regimes, to credit rationing and policy games. The book focuses on the problems of modeling the effects of monetary and fiscal policy, and setting optimal policies for the future. It concludes with two stimulating panel discussions, one questioning whether the UK should join the Euro and the other discussing the appropriate targets of monetary policy.
Author: George W. Evans
Publisher:
ISBN: 9789524620222
Category :
Languages : en
Pages : 34
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Tiivistelmä: Adaptiivinen oppiminen ja rahapolitiikan muotoilu.
Author:
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ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 700
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Author:
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ISBN:
Category : Dissertation abstracts
Languages : en
Pages : 848
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Author: Paul De Grauwe
Publisher: Princeton University Press
ISBN: 1400845378
Category : Business & Economics
Languages : en
Pages : 147
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Book Description
In mainstream economics, and particularly in New Keynesian macroeconomics, the booms and busts that characterize capitalism arise because of large external shocks. The combination of these shocks and the slow adjustments of wages and prices by rational agents leads to cyclical movements. In this book, Paul De Grauwe argues for a different macroeconomics model--one that works with an internal explanation of the business cycle and factors in agents' limited cognitive abilities. By creating a behavioral model that is not dependent on the prevailing concept of rationality, De Grauwe is better able to explain the fluctuations of economic activity that are an endemic feature of market economies. This new approach illustrates a richer macroeconomic dynamic that provides for a better understanding of fluctuations in output and inflation. De Grauwe shows that the behavioral model is driven by self-fulfilling waves of optimism and pessimism, or animal spirits. Booms and busts in economic activity are therefore natural outcomes of a behavioral model. The author uses this to analyze central issues in monetary policies, such as output stabilization, before extending his investigation into asset markets and more sophisticated forecasting rules. He also examines how well the theoretical predictions of the behavioral model perform when confronted with empirical data. Develops a behavioral macroeconomic model that assumes agents have limited cognitive abilities Shows how booms and busts are characteristic of market economies Explores the larger role of the central bank in the behavioral model Examines the destabilizing aspects of asset markets
