메뉴 건너뛰기




Volumn 17, Issue 8, 2013, Pages 1574-1604

Interest rate rules and macroeconomic stability under heterogeneous expectations

Author keywords

Cumulative Process; Heterogeneous Expectations; Monetary Policy; Taylor Rule

Indexed keywords


EID: 84887614428     PISSN: 13651005     EISSN: 14698056     Source Type: Journal    
DOI: 10.1017/S1365100512000223     Document Type: Article
Times cited : (85)

References (45)
  • 1
    • 34250001929 scopus 로고    scopus 로고
    • Experimental evidence on the persistence of output and inflation
    • Adam, K. (2007) Experimental evidence on the persistence of output and inflation. Economic Journal 117(520), 603-636
    • (2007) Economic Journal , vol.117 , Issue.520 , pp. 603-636
    • Adam, K.1
  • 2
    • 70450168435 scopus 로고    scopus 로고
    • Social Learning andMonetary Policy Rules
    • Federal Reserve Bank of St. Louis
    • Arifovic, J., J. Bullard, andO.Kostyshyna (2007) Social Learning andMonetary Policy Rules.Working paper 2007-007, Federal Reserve Bank of St. Louis.
    • (2007) Working Paper 2007-007
    • Arifovic, J.1    Bullard, J.2    Kostyshyna, O.3
  • 6
    • 34547683216 scopus 로고    scopus 로고
    • Heterogeneity and misspecifications in learning
    • Berardi, M. (2007) Heterogeneity and misspecifications in learning. Journal of Money, Credit and Banking 31, 3203-3227
    • (2007) Journal of Money, Credit and Banking , vol.31 , pp. 3203-3227
    • Berardi, M.1
  • 7
    • 3242880641 scopus 로고    scopus 로고
    • The theory of rationally heterogeneous expectations: Evidence from survey data on inflation expectations
    • Branch,W. (2004) The theory of rationally heterogeneous expectations: Evidence from survey data on inflation expectations. Economic Journal 114(497), 592-621
    • (2004) Economic Journal , vol.114 , Issue.497 , pp. 592-621
    • Branch, W.1
  • 8
    • 33144471492 scopus 로고    scopus 로고
    • Intrinsic heterogeneity in expectation formation
    • Branch,W. and G. Evans (2006) Intrinsic heterogeneity in expectation formation. Journal of Economic Theory 127, 264-295
    • (2006) Journal of Economic Theory , vol.127 , pp. 264-295
    • Branch, W.1    Evans, G.2
  • 9
    • 63749113045 scopus 로고    scopus 로고
    • Monetary policy in a new Keynesian model with heterogeneous expectations
    • Branch, W. and B. McGough (2009) Monetary policy in a new Keynesian model with heterogeneous expectations. Journal of Economic Dynamics and Control 33, 1036-1051
    • (2009) Journal of Economic Dynamics and Control , vol.33 , pp. 1036-1051
    • Branch, W.1    McGough, B.2
  • 10
    • 77953232023 scopus 로고    scopus 로고
    • Dynamic predictors selection in a new Keynesian model with heterogeneous expectations
    • Branch, W. and B. McGough (2010) Dynamic predictors selection in a new Keynesian model with heterogeneous expectations. Journal of Economic Dynamics and Control 34(8), 1492-1508
    • (2010) Journal of Economic Dynamics and Control , vol.34 , Issue.8 , pp. 1492-1508
    • Branch, W.1    McGough, B.2
  • 11
    • 77953232881 scopus 로고    scopus 로고
    • The danger of inflating expectations of macroeconomic stability: Heuristic switching in an overlapping generations monetary model
    • Brazier, A., R. Harrison, M. King, and T. Yates (2008) The danger of inflating expectations of macroeconomic stability: Heuristic switching in an overlapping generations monetary model. International Journal of Central Banking 4(2), 219-254
    • (2008) International Journal of Central Banking , vol.4 , Issue.2 , pp. 219-254
    • Brazier, A.1    Harrison, R.2    King, M.3    Yates, T.4
  • 14
    • 0001288049 scopus 로고    scopus 로고
    • A rational route to randomness
    • Brock, W.A. and C.H. Hommes (1997) A rational route to randomness. Econometrica 65(5), 1059-1095
    • (1997) Econometrica , vol.65 , Issue.5 , pp. 1059-1095
    • Brock, W.A.1    Hommes, C.H.2
  • 15
    • 0036741810 scopus 로고    scopus 로고
    • Learning about monetary policy rules
    • Bullard, J. and K.Mitra (2002) Learning about monetary policy rules. Journal of Monetary Economics 49(6), 1105-1129
    • (2002) Journal of Monetary Economics , vol.49 , Issue.6 , pp. 1105-1129
    • Bullard, J.1    Mitra, K.2
  • 16
    • 0037331902 scopus 로고    scopus 로고
    • Macroeconomic expectations of households and professional forecasters
    • Carroll, C. (2003) Macroeconomic expectations of households and professional forecasters. Quarterly Journal of Economics 118, 269-298
    • (2003) Quarterly Journal of Economics , vol.118 , pp. 269-298
    • Carroll, C.1
  • 18
    • 84887898024 scopus 로고    scopus 로고
    • Determinacy and Identification with Taylor Rules
    • 13410
    • Cochrane, J. (2010) Determinacy and Identification with Taylor Rules. NBER working paper 13410
    • (2010) NBER Working Paper
    • Cochrane, J.1
  • 20
    • 79955911268 scopus 로고    scopus 로고
    • Animal spirits and monetary policy
    • De Grauwe, P. (2011) Animal spirits and monetary policy. Economic Theory 47(2-3), 423-457
    • (2011) Economic Theory , vol.47 , Issue.2-3 , pp. 423-457
    • De Grauwe, P.1
  • 21
    • 68149138570 scopus 로고    scopus 로고
    • The misperception of inflation by Irish consumers
    • Duffy, D. and P.D. Lunn (2009) The misperception of inflation by Irish consumers. Economic and social review 40, 139-163
    • (2009) Economic and Social Review , vol.40 , pp. 139-163
    • Duffy, D.1    Lunn, P.D.2
  • 22
    • 0142184740 scopus 로고    scopus 로고
    • Expectations and the stability problem for optimal monetary policies
    • Evans, G. and S. Honkapohja (2003) Expectations and the stability problem for optimal monetary policies. Review of Economic Studies 70, 807-824
    • (2003) Review of Economic Studies , vol.70 , pp. 807-824
    • Evans, G.1    Honkapohja, S.2
  • 24
    • 84887977332 scopus 로고    scopus 로고
    • Notes on Agents Behavioral Rules under Adaptive Learning and Recent Studies of Monetary Policy
    • University of St. Andrews. Evans
    • Evans, G., S. Honkapohja, and K. Mitra (2011) Notes on Agents Behavioral Rules under Adaptive Learning and Recent Studies of Monetary Policy. CDMA working paper 11/02, University of St. Andrews.
    • (2011) CDMA Working Paper , vol.11 , Issue.2
    • Evans, G.1    Honkapohja, S.2    Mitra, K.3
  • 26
  • 27
    • 66049139912 scopus 로고    scopus 로고
    • Heterogeneous agentmodels in economics and finance
    • K. Judd andL.Tesfatsion (eds.
    • Hommes, C. (2006) Heterogeneous agentmodels in economics and finance. In K. Judd andL.Tesfatsion (eds.), Handbook of Computational Economics. Vol. 2
    • (2006) Handbook of Computational Economics , vol.2
    • Hommes, C.1
  • 28
    • 24044513640 scopus 로고    scopus 로고
    • Coordination of expectations in asset pricing experiments
    • Hommes, C., J. Sonnemans, J. Tuinstra, and H. van de Velden (2005) Coordination of expectations in asset pricing experiments. Review of Financial Studies 18(3), 955-980
    • (2005) Review of Financial Studies , vol.18 , Issue.3 , pp. 955-980
    • Sonnemans, C.J.1    Tuinstra, J.2    Van De, V.H.3
  • 30
    • 78549243687 scopus 로고    scopus 로고
    • The heterogeneous expectations hypo thesis: Some evidence from the lab
    • Hommes, C.H. (2011) The heterogeneous expectations hypothesis: Some evidence from the lab. Journal of Economic Dynamics and Control 35, 1-24
    • (2011) Journal of Economic Dynamics and Control , vol.35 , pp. 1-24
    • Hommes, C.H.1
  • 31
    • 33645048183 scopus 로고    scopus 로고
    • Stability in economies with heterogeneous agents
    • Honkapohja, S. and K. Mitra (2006) Stability in economies with heterogeneous agents. Review of Economic Dynamics 9, 284-309
    • (2006) Review of Economic Dynamics , vol.9 , pp. 284-309
    • Honkapohja, S.1    Mitra, K.2
  • 32
    • 84934453134 scopus 로고
    • Interest-rate control and nonconvergence to rational expectations
    • Howitt, P. (1992) Interest-rate control and nonconvergence to rational expectations. Journal of Political Economy 100, 776-800
    • (1992) Journal of Political Economy , vol.100 , pp. 776-800
    • Howitt, P.1
  • 34
    • 66049155348 scopus 로고    scopus 로고
    • Agent-based computational finance
    • In K. Judd and L. Tesfatsion (eds.
    • LeBaron, B. (2006) Agent-based computational finance. In K. Judd and L. Tesfatsion (eds.), Handbook of Computational Economics. Vol. 2
    • (2006) Handbook of Computational Economics , vol.2
    • Lebaron, B.1
  • 35
    • 72549108945 scopus 로고    scopus 로고
    • Inflation expectations and macroeconomic dynamics: The case of rational versus extrapolative expectations
    • Lines, M. and F. Westerhoff (2010) Inflation expectations and macroeconomic dynamics: The case of rational versus extrapolative expectations Journal of Economic Dynamics and Control 34, 246-257
    • (2010) Journal of Economic Dynamics and Control , vol.34 , pp. 246-257
    • Lines, M.1    Westerhoff, F.2
  • 36
    • 21244501699 scopus 로고    scopus 로고
    • Disagreement about inflation expectations
    • In M. Gertler and K. Rogoff (eds.
    • Mankiw, N., R. Reis, and J. Wolfers (2003) Disagreement about inflation expectations. In M. Gertler and K. Rogoff (eds.), NBER Macroeconomics Annual, vol. 18, pp. 209-270
    • (2003) NBER Macroeconomics Annual , vol.18 , pp. 209-270
    • Mankiw, N.1    Reis, R.2    Wolfers, J.3
  • 37
  • 38
    • 34248216153 scopus 로고    scopus 로고
    • Expectations, learning and macroeconomic persistence
    • Cambridge, MA: MIT Press. Milani, F. (2007) Expectations, learning and macroeconomic persistence. Journal of Monetary Economics 54, 2065-2082
    • (2007) Journal of Monetary Economics , vol.54 , pp. 2065-2082
    • Milani, F.1
  • 39
    • 77955276322 scopus 로고    scopus 로고
    • Heterogeneity, learning and information stickiness in inflation expectations
    • Pfajfar, D. and E. Santoro (2010) Heterogeneity, learning and information stickiness in inflation expectations. Journal of Economic Behavior and Organization 75(3), 426-444
    • (2010) Journal of Economic Behavior and Organization , vol.75 , Issue.3 , pp. 426-444
    • Pfajfar, D.1    Santoro, E.2
  • 40
    • 84887935459 scopus 로고    scopus 로고
    • Inflation Expectations Monetary Policy Design: Evidence from the Laboratory
    • University of Tilburg
    • Pfajfar, D. and B. Zakelj (2011) Inflation Expectations and Monetary Policy Design: Evidence from the Laboratory. CentER discussion papers 2011-091, University of Tilburg
    • (2011) CentER Discussion Papers 2011-091
    • Pfajfar, D.1    Zakelj, B.2
  • 41
    • 27244460571 scopus 로고    scopus 로고
    • Learning about monetary policy rules when long-horizon forecasts matter
    • Preston, B. (2005) Learning about monetary policy rules when long-horizon forecasts matter. International Journal of Central Banking 1(2), 81-126
    • (2005) International Journal of Central Banking , vol.1 , Issue.2 , pp. 81-126
    • Preston, B.1
  • 44
    • 33846387167 scopus 로고    scopus 로고
    • On learning equilibria
    • Tuinstra, J. and F. Wagener (2007) On learning equilibria. Economic Theory 30(3), 493-513
    • (2007) Economic Theory , vol.30 , Issue.3 , pp. 493-513
    • Tuinstra, J.1    Wagener, F.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.