Modeling diverse expectations in an aggregated New Keynesian model

DOI10.1016/J.JEDC.2013.01.016zbMath1327.91049OpenAlexW2062134094MaRDI QIDQ900374

Giulia Piccillo, Mordecai Kurz, Howei Wu

Publication date: 22 December 2015

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2013.01.016

zbMATH Keywords

Bayesian learningNew Keynesian modelrational beliefsupdating beliefsheterogenous beliefsmarket state of beliefmonetary policy rule

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (7)

Learning in two-dimensional beauty contest games: theory and experimental evidence ⋮ Managing monetary policy in a New Keynesian model with many beliefs types ⋮ The behavioral economics of currency unions: economic integration and monetary policy ⋮ Editorial: Introduction to the special issue on `Rethinking policies when heterogeneity matters' ⋮ Managing unanchored, heterogeneous expectations and liquidity traps ⋮ Coexistence of equilibria in a New Keynesian model with heterogeneous beliefs ⋮ Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model

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