Heterogeneous learning

Review of Economic Dynamics

Volumn 6, Issue 4, 2003, Pages 885-906

  Giannitsarou, Chryssi ^a  

^a NOVA SCHOOL OF BUSINESS AND ECONOMICS   (Portugal)

Author keywords

Adaptive learning; Heterogeneity; Stability of equilibria

Indexed keywords

EID: 0242425110     PISSN: 10942025     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1094-2025(03)00011-5     Document Type: Article

References (33)

1. Arifovic, J., 1998. Stability of equilibria under genetic algorithm adaptation: an analysis. Macroeconomic Dynamics 2, 1-21.
2. Barucci, E., 1999. Heterogeneous beliefs and learning in forward looking economic models. Evolutionary Economics 9, 453-464.
3. Barucci, E., Landi, L., 1997. Least mean squares learning in self-referential linear stochastic models. Economics Letters 57, 313-317.
4. Bray, M.M., Savin, N., 1986. Rational expectations equilibria, learning and model specification. Econometrica 54, 1129-1160.
5. Brock, W.A., Hommes, C.H., 1997. A rational route to randomness. Econometrica 65, 1059-1095.
6. Cagan, P., 1956. The monetary dynamics of hyper-inflation. In: Friedman, M. (Ed.), Studies in the Quantity Theory of Money. Univ. of Chicago Press, Chicago.
7. Evans, G., 1985. Expectational stability and the multiple equilibria problem in linear rational expectations models. Quarterly Journal of Economics 100, 1217-1233.
8. Evans, G., 1989. The fragility of sunspots and bubbles. Journal of Monetary Economics 23, 297-317.
9. Evans, G., Honkapohja, S., 1996. Least squares learning with heterogeneous expectations. Economics Letters 53, 197-201.
10. Evans, G., Honkapohja, S., 1998. Convergence of learning algorithms without a projection facility. Journal of Mathematical Economics 30, 59-86.
11. Evans, G., Honkapohja, S., 2001. Learning and Expectations in Macroeconomics. Princeton Univ. Press, Princeton, NJ.
12. Evans, G., Honkapohja, S., Marimon, R., 2001. Convergence in monetary inflation models with heterogeneous learning rules. Macroeconomic Dynamics 5, 1-31.
13. Franke, R., Nesemann, T., 1999. Two destabilizing strategies may be jointly stabilizing. Journal of Economics 1, 1-18.
14. Giannitsarou, C., 2003a. Supply-side reforms and learning dynamics. Mimeo.
15. Giannitsarou, C., 2003b. E-stability does not imply learnability. Mimeo.
16. Graham, A., 1981. Kronecker Products and Matrix Calculus: with Applications. Ellis Horwood, Chichester.
17. Grandmont, J.-M., 1998. Expectations formation and stability of large socioeconomic systems. Econometrica 66, 741-781.
18. Hansen, G.D., 1985. Indivisible labor and the business cycle. Journal of Monetary Economics 16, 309-327.
19. Heinemann, M., 2000. Convergence of adaptive learning and expectational stability: The case of multiple rational-expectations equilibria. Macroeconomic Dynamics 4, 263-288.
20. Honkapohja, S., Mitra, K., 2002. Learning stability in economies with heterogeneous agents. Mimeo.
21. Ljung, L., 1977. Analysis of recursive stochastic algorithms. IIIE Transactions on Automatic Control AC-22, 551-575.
22. Lucas, R., 1973. Some international evidence on output inflation trade-offs. American Economic Review 63, 326-334.
23. Magnus, J., Neudecker, H., 1988. Matrix Differential Calculus. Wiley, New York.
24. Marcet, A., Sargent, T., 1989a. Convergence of least squares mechanisms in self-referential linear stochastic models. Journal of Economic Theory 48, 337-368.
25. Marcet, A., Sargent, T., 1989b. Convergence of least squares learning in environments with hidden state variables and private information. Journal of Political Economy 97, 1306-1322.
26. Moreno, D., Walker, M., 1994. Two problems in applying Ljung's "projection algorithms" to the analysis of decentralized learning. Journal of Economic Theory 62, 420-427.
27. Muth, J., 1961. Rational expectations and the theory of price movements. Econometrica 29, 315-335.
28. Negroni, G., 2002. Adaptive expectations coordination in an economy with heterogeneous agents. Journal of Economic Dynamics and Control. In press.
29. Sargent, T., 1993. Bounded Rationality in Macroeconomics. Oxford Univ. Press, Oxford.
30. Sargent, T., Wallace, N., 1975. 'Rational expectations,' the optimal monetary instrument and the optimal money supply rule. Journal of Political Economy 83, 241-254.
31. Shiller, R.J., 1981. Do stock prices move too much to be justified by subsequent changes in dividends? American Economic Review 71, 421-436.
32. Taylor, J., 1977. Conditions for unique solutions in stochastic macroeconomic models with rational expectations, Econometrica 45, 1377-1386.
33. Taylor, J., 1980. Aggregate dynamics and staggered contracts. Journal of Political Economy 88, 1-23.