Learnability of e?stable equilibria

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F14%3A00439526" target="_blank" >RIV/00216208:11640/14:00439526 - isvavai.cz</a>
Alternative codes found
RIV/67985998:_____/14:00430027
Result on the web
<a href="http://dx.doi.org/10.1017/S1365100512000703" target="_blank" >http://dx.doi.org/10.1017/S1365100512000703</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1017/S1365100512000703" target="_blank" >10.1017/S1365100512000703</a>

Result language
angličtina
Original language name
Learnability of e?stable equilibria
Original language description
If private sector agents update their beliefs with a learning algorithm other than recursive least squares, expectational stability or learnability of rational expectations equilibria (REE) is not guaranteed. Monetary policy under commitment, with a determinate and E-stable REE, may not imply robust learning stability of such equilibria if the RLS speed of convergence is slow. In this paper, we propose a refinement of E-stability conditions that allows us to select equilibria more robust to specification of the learning algorithm within the RLS/SG/GSG class. E-stable equilibria characterized by faster speed of convergence under RLS learning are learnable with SG or generalized SG algorithms as well.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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