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The Convergence of Evolutionary Expectations in a Dynamic IS-LM Model

Author

Listed:
  • Bobeică Gabriel

    (Academia de Studii Economice din Bucureşti)

Abstract

This research presents a dynamic IS-LM model with evolutionary expectations. Agents in the model are presumed to be heterogeneous, their expectations consisting in a population of chromosomes subjected to a genetic algorithm process replicating imitation and perpetuation of success strategies, exchange of information and experimentation. Simulations were conducted based on this model.

Suggested Citation

  • Bobeică Gabriel, 2015. "The Convergence of Evolutionary Expectations in a Dynamic IS-LM Model," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 03, September.
    • Handle: RePEc:oen:econom:y:2015:i:03:id:433
    as

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    More about this item

    Keywords

    expectations formation; non-rational expectations; genetic algorithm; regime switching;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications

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