E-stability and stability of adaptive learning in models with private information

Journal of Economic Dynamics and Control

Volumn 33, Issue 12, 2009, Pages 2001-2014

  Heinemann, Maik ^a  

^a LEUPHANA UNIVERSITY OF LÜNEBURG   (Germany)

Author keywords

E stability; Private information; Rational expectations; Recursive least squares learning

Indexed keywords

EID: 70349559120     PISSN: 01651889     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jedc.2009.07.002     Document Type: Article

References (9)

1. Bray M. Learning, estimation, and stability of rational expectations. Journal of Economic Theory 26 (1982) 318-339
2. Evans G., and Honkapohja S. Learning and Expectations in Macroeconomics (2001), Princeton University Press, Princeton, NJ
3. Grossman S., and Stiglitz J. On the impossibility of informationally efficient markets. American Economic Review 70 (1980) 393-408
4. Guesnerie R. Assessing Rational Expectations 2: 'Eductive' Stability in Economics (2005), MIT Press, Cambridge, MA
5. Marcet A., and Sargent T. The fate of systems with 'adaptive' expectations. American Economic Association-Papers and Proceedings 78 (1988) 168-172
6. Marcet A., and Sargent T. The convergence of vector autoregressions to rational expectations equilibrium. In: Vercelli A., and Dimitri N. (Eds). Macroeconomics: A Survey of Research Strategies (1992), Oxford University Press, Oxford
7. Routledge B. Adaptive learning in financial markets. Review of Financial Studies 12 (1999) 1165-1202
8. Verrecchia R. Information acquisition in a noisy rational expectations economy. Econometrica 50 (1982) 1415-1430
9. Vives X. How fast do rational agents learn?. Review of Economic Studies 60 (1993) 329-347