George W. Evans
University of Oregon
donnera une série de conferences sur le thème:
Learning and Monetary Policy
Convergence of least-squares learning to rational expectations in the natural-rate and cobweb models. Recursive algorithms, stochastic approximation and E-stability. Applications to simple monetary models.
Slides 11 Septembre 2007 14h00 – 16h00- salle G614 Lecture 2 : The New Keynesian Model of Monetary Policy: determinacy and stability under learning.
The New Keynesian Model. Interest-rate rules and the possibility of multiple equilibria. Determinacy and stability under learning for Taylor-type interestrate rules. Stability of sunspot equilibria under learning.
Slides 13 Septembre 2007 10h00 – 12h00- salle G614 Lecture 3 : Optimal Monetary Policy and Learning in the New Keynesian Model
Optimal discretionary policy and optimal policy with commitment. Stability under private-agent learning for alternative implementations of optimal policy. Structural parameter learning by policymakers. Robust policy under parameter uncertainty.
Slides 13 17 Septembre 200710h00 – 12h00 – salle des Conférences du Bât. K Lecture 4 : Recent Applications of Learning to Monetary Policy
Topics selected from: perpetual learning, escape dynamics, recurrent hyperinflations, liquidity traps and deflation, underparameterized models, heterogeneous expectations and dynamic predictor selection.