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Klaus Adam

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Adam, Klaus & Tzamourani, Panagiota, 2016. "Distributional consequences of asset price inflation in the Euro Area," European Economic Review, Elsevier, vol. 89(C), pages 172-192.

    Mentioned in:

    1. The Real Killer Is COVID-Lockdown-Driven Unemployment
      by Tyler Durden in Zero Hedge on 2020-05-14 17:45:00
  2. Adam, Klaus & Billi, Roberto M., 2007. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.

    Mentioned in:

    1. Yellen: The Economic Outlook and Monetary Policy
      by Barry Ritholtz in The Big Picture on 2015-12-07 16:00:34
  3. Klaus Adam & Albert Marcet, 2011. "Booms and Busts in Asset Prices," CEP Discussion Papers dp1059, Centre for Economic Performance, LSE.

    Mentioned in:

    1. Riots, sell-offs & cascades
      by chris dillow in Stumbling and Mumbling on 2011-08-09 18:59:23
  4. Klaus Adam & Pei Kuang & Albert Marcet, 2011. "House Price Booms and the Current Account," CEP Discussion Papers dp1064, Centre for Economic Performance, LSE.

    Mentioned in:

    1. Near rational agents and house price booms
      by Economic Logician in Economic Logic on 2011-09-12 19:17:00

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Klaus Adam & Henning Weber, 2019. "Optimal Trend Inflation," American Economic Review, American Economic Association, vol. 109(2), pages 702-737, February.

    Mentioned in:

    1. Optimal Trend Inflation (AER 2019) in ReplicationWiki ()
  2. Klaus Adam & Johannes Beutel & Albert Marcet, 2015. "Stock Price Booms and Expected Capital Gains," Working Papers 757, Barcelona School of Economics.

    Mentioned in:

    1. Stock Price Booms and Expected Capital Gains? (Barcelona GSE WP 2015) in ReplicationWiki ()
  3. Klaus Adam & Junyi Zhu, 2016. "Price-Level Changes And The Redistribution Of Nominal Wealth Across The Euro Area," Journal of the European Economic Association, European Economic Association, vol. 14(4), pages 871-906, August.

    Mentioned in:

    1. Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area (JEEA 2016) in ReplicationWiki ()

Working papers

  1. Klaus Adam & Stefan Nagel, 2022. "Expectations Data in Asset Pricing," CRC TR 224 Discussion Paper Series crctr224_2022_337, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Ayan Bhattacharya, 2022. "Arbitrage from a Bayesian's Perspective," Papers 2211.03244, arXiv.org.
    2. Florian Schuster & Marco Wysietzki & Jonas Zdrzalek, 2023. "How Heterogeneous Beliefs Trigger Financial Crises," ECONtribute Discussion Papers Series 238, University of Bonn and University of Cologne, Germany.
    3. B. James Deaton & Chad Lawley, 2022. "A survey of literature examining farmland prices: A Canadian focus," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 70(2), pages 95-121, June.
    4. Ye Li & Chen Wang, 2023. "Valuation Duration of the Stock Market," Papers 2310.07110, arXiv.org.

  2. Klaus Adam & Erwan Gautier & Sergio Santoro & Henning Weber, 2021. "The Case for a Positive Euro Area Inflation Target: Evidence from France, Germany and Italy," Temi di discussione (Economic working papers) 1344, Bank of Italy, Economic Research and International Relations Area.

    Cited by:

    1. Consolo, Agostino & Koester, Gerrit & Nickel, Christiane & Porqueddu, Mario & Smets, Frank, 2021. "The need for an inflation buffer in the ECB’s price stability objective – the role of nominal rigidities and inflation differentials," Occasional Paper Series 279, European Central Bank.
    2. Strasser, Georg & Wieland, Elisabeth & Macias, Paweł & Błażejowska, Aneta & Szafranek, Karol & Wittekopf, David & Franke, Jörn & Henkel, Lukas & Osbat, Chiara, 2023. "E-commerce and price setting: evidence from Europe," Occasional Paper Series 320, European Central Bank.
    3. Menz, Jan-Oliver & Wieland, Elisabeth & Mehrhoff, Jens, 2022. "Estimating the impact of quality adjustment on consumer price inflation," Discussion Papers 49/2022, Deutsche Bundesbank.
    4. Alex Oktay, 2022. "Heterogeneity in the exchange rate pass-through to consumer prices: the Swiss franc appreciation of 2015," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 158(1), pages 1-20, December.
    5. Braggion, Fabio & von Meyerinck, Felix & Schaub, Nic & Weber, Michael, 2024. "The Long-term Effects of Inflation on Inflation Expectations," CEPR Discussion Papers 18936, C.E.P.R. Discussion Papers.
    6. Santoro, Sergio & Weber, Henning, 2023. "Micro price heterogeneity and optimal inflation," Occasional Paper Series 322, European Central Bank.
    7. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    8. Claudio Borio & Marco Jacopo Lombardi & James Yetman & Egon Zakrajsek, 2023. "The two-regime view of inflation," BIS Papers, Bank for International Settlements, number 133.
    9. Meshcheryakov, A. & Sukhomlinov, A., 2024. "Considerations regarding inflation target levels," Journal of the New Economic Association, New Economic Association, vol. 62(1), pages 246-254.

  3. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Klaus Adam & Erwan Gautier & Sergio Santoro & Henning Weber, 2021. "The Case for a Positive Euro Area Inflation Target: Evidence from France, Germany and Italy," Working papers 825, Banque de France.
    2. Philippe Andrade & Jordi Gali & Hervé Le Bihan & Julien Matheron, 2021. "Should the ECB Adjust its Strategy in the Face of a Lower r*?," Working papers 811, Banque de France.
    3. Oliver Pfauti, 2021. "Inflation -- who cares? Monetary Policy in Times of Low Attention," Papers 2105.05297, arXiv.org, revised Oct 2023.
    4. Camous, Antoine & Van der Ghote, Alejandro, 2022. "Financial cycles under diagnostic beliefs," Working Paper Series 2659, European Central Bank.
    5. Francisco Amaral & Martin Dohmen & Sebastian Kohl & Moritz Schularick, 2021. "Superstar Returns," Working Papers hal-03881493, HAL.
    6. Klaus Adam & Henning Weber, 2024. "The Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2024_572, University of Bonn and University of Mannheim, Germany.
    7. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," CRC TR 224 Discussion Paper Series crctr224_2022_334, University of Bonn and University of Mannheim, Germany.
    8. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).

  4. Klaus Adam, 2020. "Monetary Policy Challenges From Falling Natural Interest Rates," CRC TR 224 Discussion Paper Series crctr224_2020_240, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    2. policy, Work stream on macroprudential & Albertazzi, Ugo & Martin, Alberto & Assouan, Emmanuelle & Tristani, Oreste & Galati, Gabriele & Vlassopoulos, Thomas, 2021. "The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area," Occasional Paper Series 272, European Central Bank.

  5. Klaus Adam & Michael Woodford, 2020. "Robustly Optimal Monetary Policy in a New Keynesian Model With Housing," CRC TR 224 Discussion Paper Series crctr224_2020_154, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Karantounias, Anastasios G., 2023. "Doubts about the model and optimal policy," Journal of Economic Theory, Elsevier, vol. 210(C).
    2. Jørgensen, Peter Lihn, 2023. "The global savings glut and the housing boom," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    3. Vedanta Dhamija & Ricardo Nunes & Roshni Tara, 2025. "House Price Expectations and Inflation Expectations: Evidence from Survey Data," Economics Series Working Papers 1069, University of Oxford, Department of Economics.
    4. Thore Kockerols & Erling Motzfeldt Kravik & Yasin Mimir, 2021. "Leaning against persistent financial cycles with occasional crises," Working Paper 2021/11, Norges Bank.
    5. Leung, Charles Ka Yui, 2022. "Housing and Macroeconomics," MPRA Paper 115500, University Library of Munich, Germany.
    6. Buch, Claudia M. & Eickmeier, Sandra & Prieto, Esteban, 2022. "Banking deregulation, macroeconomic dynamics and monetary policy," Journal of Financial Stability, Elsevier, vol. 63(C).
    7. Adam, Klaus & Pfäuti, Oliver & Reinelt, Timo, 2022. "Subjective Housing Price Expectations, Falling Natural Rates and the Optimal Inflation Target," CEPR Discussion Papers 17187, C.E.P.R. Discussion Papers.
    8. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    9. Ciccarelli, Matteo & Darracq Pariès, Matthieu & Priftis, Romanos & Angelini, Elena & Bańbura, Marta & Bokan, Nikola & Fagan, Gabriel & Gumiel, José Emilio & Kornprobst, Antoine & Lalik, Magdalena & Mo, 2024. "ECB macroeconometric models for forecasting and policy analysis," Occasional Paper Series 344, European Central Bank.
    10. Yasutaka Ogawa & Jiro Yoshida, 2024. "Aging, Housing, and Macroeconomic Inefficiency," IMES Discussion Paper Series 24-E-04, Institute for Monetary and Economic Studies, Bank of Japan.

  6. Klaus Adam & Henning Weber, 2020. "Estimating the Optimal Inflation Target From Trends in Relative Prices," CRC TR 224 Discussion Paper Series crctr224_2020_144, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Klaus Adam & Erwan Gautier & Sergio Santoro & Henning Weber, 2021. "The Case for a Positive Euro Area Inflation Target: Evidence from France, Germany and Italy," Working papers 825, Banque de France.
    2. Stephen G. Hall, 2025. "An optimal inflation rate for South Africa," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-29, June.
    3. Volker Hahn & Michal Marencak, 2025. "Inflation Perceptions and Monetary Policy," Working and Discussion Papers WP 4/2025, Research Department, National Bank of Slovakia.
    4. Gabriel Felbermayr & Benjamin Bittschi & Josef Baumgartner, 2023. "Kollektivvertragsverhandlungen in Zeiten hoher Inflation," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(9), pages 613-632, September.
    5. Hiroshi Inokuma & Mitsuru Katagiri & Nao Sudo, 2024. "Innovation Choice, Product Life Cycles, and Optimal Trend Inflation," IMES Discussion Paper Series 24-E-17, Institute for Monetary and Economic Studies, Bank of Japan.
    6. Wifo, 2023. "WIFO-Monatsberichte, Heft 9/2023," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(9), September.
    7. Santoro, Sergio & Weber, Henning, 2023. "Micro price heterogeneity and optimal inflation," Occasional Paper Series 322, European Central Bank.
    8. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    9. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    10. Ambrocio, Gene & Ferrero, Andrea & Jokivuolle, Esa & Ristolainen, Kim, 2022. "What should the inflation target be? Views from 600 economists," Bank of Finland Research Discussion Papers 7/2022, Bank of Finland.
    11. Schoenle, Raphael & L'Huillier, Jean-Paul, 2019. "Raising the Inflation Target: How Much Extra Room Does It Really Give?," CEPR Discussion Papers 14142, C.E.P.R. Discussion Papers.

  7. Klaus Adam & Henning Weber, 2019. "Price Trends Over the Product Life Cycle and the Optimal Inflation Target," CESifo Working Paper Series 7889, CESifo.

    Cited by:

    1. Andres Blanco & Mina Kim & Edward S. Knotek & Matthias Paustian & Robert W. Rich & Jane Ryngaert & Raphael Schoenle & Joris Tielens & Michael Weber & Mirko Wiederholt & Tony Zhang, 2019. "Inflation: Drivers and Dynamics 2019 Conference Summary," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2019(22), pages 1-6, December.

  8. Klaus Adam & Dmitry Matveev & Stefan Nagel, 2019. "Do Survey Expectations of Stock Returns Reflect Risk Adjustments?," Staff Working Papers 19-11, Bank of Canada.

    Cited by:

    1. Vedolin, Andrea & Maenhout, Pascal & Xing, Hao, 2020. "Generalized Robustness and Dynamic Pessimism," CEPR Discussion Papers 14592, C.E.P.R. Discussion Papers.
    2. Maximilian Boeck & Michael Pfarrhofer, 2025. "Belief Shocks and Implications of Expectations About Growth‐at‐Risk," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 40(3), pages 341-348, April.
    3. Maggiori, Matteo & Ströbel, Johannes & Giglio, Stefano & Utkus, Stephen P., 2019. "Five Facts About Beliefs and Portfolios," CEPR Discussion Papers 13657, C.E.P.R. Discussion Papers.
    4. Lansing, Kevin J., 2024. "Replicating business cycles and asset returns with sentiment and low risk aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    5. Richard K. Crump & Stefano Eusepi & Emanuel Moench & Bruce Preston, 2021. "The Term Structure of Expectations," Staff Reports 992, Federal Reserve Bank of New York.
    6. Dmitri V. Vinogradov & Michael J. Lamla & Yousef Makhlouf, 2024. "Survey-based expectations and uncertainty attitudes," Working Papers 2024_02, Business School - Economics, University of Glasgow.
    7. Cosmin L. Ilut & Martin Schneider, 2022. "Modeling Uncertainty as Ambiguity: a Review," NBER Working Papers 29915, National Bureau of Economic Research, Inc.
    8. Alexander M. Chinco & Samuel M. Hartzmark & Abigail B. Sussman, 2020. "Necessary Evidence For A Risk Factor’s Relevance," NBER Working Papers 27227, National Bureau of Economic Research, Inc.
    9. de Oliveira Souza, Thiago, 2019. "Predictability concentrates in bad times. And so does disagreement," Discussion Papers on Economics 8/2019, University of Southern Denmark, Department of Economics.
    10. Boqiang Lin & Tianxu Lan, 2024. "The time‐varying volatility spillover effects between China's coal and metal market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 44(5), pages 699-719, May.
    11. Christophe Blot & Paul Hubert & Fabien Labondance, 2020. "The asymmetric effects of monetary policy on stock price bubbles," Working Papers hal-03403075, HAL.
    12. Benjamin Christoffersen & Arvid Hoffmann & Zwetelina Iliewa & Lena Jaroszek, 2025. "Experience Effects on Wall Street vs. Main Street: Field and Lab Evidence of Context Dependence," CRC TR 224 Discussion Paper Series crctr224_2025_684, University of Bonn and University of Mannheim, Germany.
    13. Gregor Boehl, 2020. "Monetary Policy and Speculative Asset Markets," CRC TR 224 Discussion Paper Series crctr224_2020_224, University of Bonn and University of Mannheim, Germany.
    14. Wang, Hailong & Hu, Duni, 2022. "Heterogenous beliefs with sentiments and asset pricing," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    15. Stefano Gnocchi & Fanny McKellips & Rodrigo Sekkel & Laure Simon & Yinxi Xie & Yang Zhang, 2024. "The Output-Inflation Trade-off in Canada," Discussion Papers 2024-07, Bank of Canada.
    16. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    17. Maenhout, Pascal J. & Vedolin, Andrea & Xing, Hao, 2025. "Robustness and dynamic sentiment," Journal of Financial Economics, Elsevier, vol. 163(C).
    18. Pei Kuang & Renbin Zhang & Tongbin Zhang, 2019. "New Tests of Expectation Formation with Applications to Asset Pricing Models," Discussion Papers 19-05, Department of Economics, University of Birmingham.
    19. Pascal J. Maenhout & Andrea Vedolin & Hao Xing, 2020. "Generalized Robustness and Dynamic Pessimism," NBER Working Papers 26970, National Bureau of Economic Research, Inc.
    20. Sias, Richard & Starks, Laura T. & Turtle, H.J., 2023. "The negativity bias and perceived return distributions: Evidence from a pandemic," Journal of Financial Economics, Elsevier, vol. 147(3), pages 627-657.
    21. Rahman, Oriana & Semenov, Andrei, 2025. "Subjective probabilities under behavioral heuristics," International Review of Economics & Finance, Elsevier, vol. 98(C).
    22. Pei Kuang, 2019. "New Tests of Expectation Formation with Applications to Asset Pricing Models," 2019 Meeting Papers 187, Society for Economic Dynamics.
    23. Pascal Kieren & Jan Müller-Dethard & Martin Weber, 2023. "Risk-Taking and Asymmetric Learning in Boom and Bust Markets," Review of Finance, European Finance Association, vol. 27(5), pages 1743-1779.
    24. Weidong Tian, 2021. "Long Run Law and Entropy," Papers 2111.06238, arXiv.org.

  9. Klaus Adam & Sebastian Merkel, 2019. "Stock Price Cycles and Business Cycles," CRC TR 224 Discussion Paper Series crctr224_2019_105, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Saki Bigio & Eduardo Zilberman, 2020. "Speculation-driven Business Cycles," Working Papers 161, Peruvian Economic Association.
    2. Marlon Fritz & Thomas Gries & Lukas Wiechers, 2024. "An early indicator for anomalous stock market performance," Quantitative Finance, Taylor & Francis Journals, vol. 24(1), pages 105-118, January.
    3. Lansing, Kevin J., 2024. "Replicating business cycles and asset returns with sentiment and low risk aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    4. Zhang, Tongbin, 2021. "Stock prices and the risk-free rate: An internal rationality approach," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    5. Azqueta-Gavaldon, Andres & Hirschbühl, Dominik & Onorante, Luca & Saiz, Lorena, 2020. "Nowcasting business cycle turning points with stock networks and machine learning," Working Paper Series 2494, European Central Bank.
    6. Ifrim, Adrian, 2023. "Sentimental Discount Rate Shocks," EconStor Preprints 268363, ZBW - Leibniz Information Centre for Economics.
    7. Mr. Tobias Adrian & Fernando Duarte & Nellie Liang & Pawel Zabczyk, 2020. "Monetary and Macroprudential Policy with Endogenous Risk," IMF Working Papers 2020/236, International Monetary Fund.
    8. Ioana Manuela Mîndrican, 2023. "Monetary policy measures and strategies in the context of the adoption of the euro currency," Journal of Financial Studies, Institute of Financial Studies, vol. 14(8), pages 84-97, May.
    9. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    10. policy, Work stream on macroprudential & Albertazzi, Ugo & Martin, Alberto & Assouan, Emmanuelle & Tristani, Oreste & Galati, Gabriele & Vlassopoulos, Thomas, 2021. "The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area," Occasional Paper Series 272, European Central Bank.
    11. Annette Hofmann & Cristina Sattarhoff, 2023. "Underwriting Cycles in Property-Casualty Insurance: The Impact of Catastrophic Events," Risks, MDPI, vol. 11(4), pages 1-25, April.
    12. Ignacio Escanuela Romana & Clara Escanuela Nieves, 2023. "A spectral approach to stock market performance," Papers 2305.05762, arXiv.org.
    13. Anmol Bhandari & Jaroslav Borovicka & Paul Ho, 2019. "Survey Data and Subjective Beliefs in Business Cycle Models," Working Paper 19-14, Federal Reserve Bank of Richmond.

  10. Klaus Adam & Michael Woodford, 2018. "Leaning Against Housing Prices as Robustly Optimal Monetary Policy," CRC TR 224 Discussion Paper Series crctr224_2018_016, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. Melchisedek Joslem Ngambou Djatche, 2021. "Monetary policy, prudential policy and bank's risk-taking: a literature review," Post-Print halshs-03419263, HAL.
    2. Grégory Levieuge, 2018. "La politique monétaire doit-elle être utilisée à des fins de stabilité financière ?," Post-Print hal-03530128, HAL.
    3. Caines, Colin & Winkler, Fabian, 2021. "Asset price beliefs and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 53-67.
    4. Klaus Adam & Sebastian Merkel, 2019. "Stock Price Cycles and Business Cycles," CRC TR 224 Discussion Paper Series crctr224_2019_105, University of Bonn and University of Mannheim, Germany.
    5. Gregor Boehl, 2020. "Monetary Policy and Speculative Asset Markets," CRC TR 224 Discussion Paper Series crctr224_2020_224, University of Bonn and University of Mannheim, Germany.
    6. Zoe Venter, 2019. "The Interaction Between ConventionalMonetary Policy and Financial Stability: Chile, Colombia, Japan, Portugal and the UK," Working Papers REM 2019/96, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    7. Colin C. Caines & Fabian Winkler, 2018. "Asset Price Learning and Optimal Monetary Policy," International Finance Discussion Papers 1236, Board of Governors of the Federal Reserve System (U.S.).
    8. Petre Caraiani & Adrian Cantemir Călin, 2020. "Housing markets, monetary policy, and the international co‐movement of housing bubbles," Review of International Economics, Wiley Blackwell, vol. 28(2), pages 365-375, May.

  11. Klaus Adam & Henning Weber, 2018. "Optimal Trend Inflation," CRC TR 224 Discussion Paper Series crctr224_2018_010, University of Bonn and University of Mannheim, Germany.

    Cited by:

    1. F Boissay & F Collard & J Galí & C Manea, 2022. "Monetary Policy and Endogenous Financial Crises," Working Papers hal-03763108, HAL.
    2. Guido Ascari & Paolo Bonomolo & Qazi Haque, 2023. "The Long-Run Phillips Curve is ... a Curve," CAMA Working Papers 2023-37, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    3. Klaus Adam & Erwan Gautier & Sergio Santoro & Henning Weber, 2021. "The Case for a Positive Euro Area Inflation Target: Evidence from France, Germany and Italy," Working papers 825, Banque de France.
    4. Adam, Klaus & Weber, Henning, 2020. "Estimating the Optimal Inflation Target from Trends in Relative Prices," CEPR Discussion Papers 14335, C.E.P.R. Discussion Papers.
    5. Dudley Cooke & Tatiana Damjanovic, 2021. "Monetary Policy and Welfare with Heterogeneous Firms and Endogenous Entry," Department of Economics Working Papers 2021_02, Durham University, Department of Economics.
    6. Drobyshevsky, Sergey M. (Дробышевский, Сергей) & Trunin, Pavel V. (Трунин, Павел) & Sinelnikova-Muryleva, Elena V. (Синельникова-Мурылева, Елена) & Makeeva, Natalja V. (Макеева, Наталья) & Grebenkina,, 2020. "Optimal Inflation in Russia: Theory and Practice [Оптимальная Инфляция В России: Теория И Практика]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 8-29, August.
    7. Yunjong Eo & Luis Uzeda & Benjamin Wong, 2022. "Understanding Trend Inflation Through the Lens of the Goods and Services Sectors," CAMA Working Papers 2022-28, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    8. Philippe Andrade & Jordi Gali & Hervé Le Bihan & Julien Matheron, 2021. "Should the ECB Adjust its Strategy in the Face of a Lower r*?," Working papers 811, Banque de France.
    9. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
    10. Antoine Lepetit, 2022. "The Optimal Inflation Rate with Discount Factor Heterogeneity," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 1971-1996, October.
    11. Philippe Andrade & Jordi Gali & Hervé Le Bihan & Julien Matheron, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," Working papers 670, Banque de France.
    12. Rodnyansky, Alexander & Van der Ghote, Alejandro & Wales, Daniel, 2022. "Product quality, measured inflation and monetary policy," Working Paper Series 2680, European Central Bank.
    13. Garcia-Hiernaux, Alfredo & Gonzalez-Perez, Maria T. & Guerrero, David E., 2023. "Eurozone prices: A tale of convergence and divergence," Economic Modelling, Elsevier, vol. 126(C).
    14. Marcella Lucchetta, 2023. "Understanding Monetary Policy: The Real Sector and Welfare," Working Papers 2023:01, Department of Economics, University of Venice "Ca' Foscari".
    15. Ou, Shengliang & Zhang, Donghai & Zhang, Renbin, 2021. "Information frictions, monetary policy, and the paradox of price flexibility," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 70-82.
    16. Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021. "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers) 660, Bank of Italy, Economic Research and International Relations Area.
    17. Bernardino Adão & Andre Silva, 2019. "Government Financing, Inflation, and the Financial Sector," 2019 Meeting Papers 350, Society for Economic Dynamics.
    18. Mineyama, Tomohide, 2022. "Revisiting the optimal inflation rate with downward nominal wage rigidity: The role of heterogeneity," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    19. Daisuke Miyakawa & Koki Oikawa & Kozo Ueda, 2020. "Reallocation Effects of Monetary Policy," CAMA Working Papers 2020-59, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    20. Santoro, Sergio & Viviano, Eliana, 2022. "Optimal trend inflation, misallocation and the pass-through of labour costs to prices," Working Paper Series 2761, European Central Bank.
    21. Claudio Borio, 2021. "Back to the Future: Intellectual Challenges for Monetary Policy," Economic Papers, The Economic Society of Australia, vol. 40(4), pages 273-287, December.
    22. GONZà LEZ, BEATRIZ & Nuño, Galo & Thaler, Dominik & Albrizio, Silvia, 2023. "Firm Heterogeneity, Capital Misallocation and Optimal Monetary Policy," CEPR Discussion Papers 18695, C.E.P.R. Discussion Papers.
    23. Takushi Kurozumi & Willem Van Zandweghe, 2020. "Output-Inflation Trade-offs and the Optimal Inflation Rate," Working Papers 20-20, Federal Reserve Bank of Cleveland.
    24. Shigenori Shiratsuka, 2018. "Central Banking in a Changing World Summary of the 2018 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan," IMES Discussion Paper Series 18-E-11, Institute for Monetary and Economic Studies, Bank of Japan.
    25. Afrouzi, Hassan & Dietrich, Alexander & Myrseth, Kristian & Priftis, Romanos & Schoenle, Raphael, 2024. "Inflation Preferences," CEPR Discussion Papers 19006, C.E.P.R. Discussion Papers.
    26. Claudio Borio & Piti Disyatat & Dora Xia & Egon Zakrajšek, 2021. "Monetary policy, relative prices and inflation control: flexibility born out of success," BIS Quarterly Review, Bank for International Settlements, September.
    27. Miura, Shogo, 2023. "Optimal inflation rate and fair wage," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 158-167.
    28. Santoro, Sergio & Weber, Henning, 2023. "Micro price heterogeneity and optimal inflation," Occasional Paper Series 322, European Central Bank.
    29. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    30. Cho, Daeha & Kim, Jung Hyun & Kim, Kwang Hwan & Kim, Suk Joon, 2025. "Optimal trend inflation in an open economy," Journal of Monetary Economics, Elsevier, vol. 149(C).
    31. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    32. Ambrocio, Gene & Ferrero, Andrea & Jokivuolle, Esa & Ristolainen, Kim, 2022. "What should the inflation target be? Views from 600 economists," Bank of Finland Research Discussion Papers 7/2022, Bank of Finland.
    33. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    34. Abbritti, Mirko & Consolo, Agostino & Weber, Sebastian, 2021. "Endogenous growth, downward wage rigidity and optimal inflation," Working Paper Series 2635, European Central Bank.
    35. Consolo, Agostino & Cette, Gilbert & Bergeaud, Antonin & Labhard, Vincent & Osbat, Chiara & Kosekova, Stanimira & Anyfantaki, Sofia & Basso, Gaetano & Basso, Henrique & Bobeica, Elena & Ciapanna, Eman, 2021. "Digitalisation: channels, impacts and implications for monetary policy in the euro area," Occasional Paper Series 266, European Central Bank.
    36. Rostagno, Massimo & Altavilla, Carlo & Carboni, Giacomo & Lemke, Wolfgang & Motto, Roberto & Saint Guilhem, Arthur & Yiangou, Jonathan, 2019. "A tale of two decades: the ECB’s monetary policy at 20," Working Paper Series 2346, European Central Bank.
    37. Apaitan, Tosapol & Disyatat, Piti & Manopimoke, Pym, 2020. "Thai inflation dynamics: A view from disaggregated price data," Economic Modelling, Elsevier, vol. 84(C), pages 117-134.
    38. Apel, Mikael & Armelius, Hanna & Claussen, Carl Andreas, 2017. "The level of the inflation target – a review of the issues," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 2, pages 36-56.
    39. Schoenle, Raphael & L'Huillier, Jean-Paul, 2019. "Raising the Inflation Target: How Much Extra Room Does It Really Give?," CEPR Discussion Papers 14142, C.E.P.R. Discussion Papers.

  12. Klaus Adam & Johannes Beutel & Sebastian Merkel & Albert Marcet, 2015. "Can a Financial Transaction Tax Prevent Stock Price Booms?," Working Papers 840, Barcelona School of Economics.

    Cited by:

    1. Maggiori, Matteo & Ströbel, Johannes & Giglio, Stefano & Utkus, Stephen P., 2019. "Five Facts About Beliefs and Portfolios," CEPR Discussion Papers 13657, C.E.P.R. Discussion Papers.
    2. Colin C. Caines, 2016. "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US Housing Boom," International Finance Discussion Papers 1181, Board of Governors of the Federal Reserve System (U.S.).
    3. Beutel, Johannes & Metiu, Norbert & Stockerl, Valentin, 2021. "Toothless tiger with claws? Financial stability communication, expectations, and risk-taking," Discussion Papers 05/2021, Deutsche Bundesbank.
    4. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco, 2025. "Cryptocurrency ownership and cognitive biases in perceived financial literacy," Journal of Behavioral and Experimental Finance, Elsevier, vol. 45(C).
    5. Yin, Zhichao & Peng, Hongfeng & Xiao, Weiguo & Xiao, Zumian, 2022. "Capital control and monetary policy coordination: Tobin tax revisited," Research in International Business and Finance, Elsevier, vol. 59(C).
    6. Zeno Enders & Hendrik Hakenes, 2021. "Market Depth, Leverage, and Speculative Bubbles," Journal of the European Economic Association, European Economic Association, vol. 19(5), pages 2577-2621.

  13. Klaus Adam & Junyi Zhu, 2015. "Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area," Working Papers 1501, Council on Economic Policies.

    Cited by:

    1. Rodolfo G. Campos & Jesus Fernandez-Villaverde & Galo Nuno & Peter Paz, 2024. "Navigating by Falling Stars:Monetary Policy with Fiscally Driven Natural Rates," PIER Working Paper Archive 24-007, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    2. Claudio Michelacci & Luigi Paciello, 2017. "Ambiguous Policy Announcements," EIEF Working Papers Series 1701, Einaudi Institute for Economics and Finance (EIEF), revised Dec 2017.
    3. Javier Villar Burke, 2016. "Stocks or flows? New thinking about monetary transmission through the lending channel," Working Papers 2016.04, International Network for Economic Research - INFER.
    4. Tatiana Ryzhikova & Anastasiya Skuratova, 2023. "Bank of Russia Monetary Policy and Household Consumption Expenditure," Russian Journal of Money and Finance, Bank of Russia, vol. 82(1), pages 3-31, March.
    5. Ampudia, Miguel & Georgarakos, Dimitris & Slacalek, Jiri & Tristani, Oreste & Vermeulen, Philip & Violante, Giovanni L., 2018. "Monetary policy and household inequality," Working Paper Series 2170, European Central Bank.
    6. Gokan, Yoichi & Turnovsky, Stephen J., 2023. "Taylor rules: Consequences for wealth and income inequality," Journal of Macroeconomics, Elsevier, vol. 77(C).
    7. Mehdi el Herradi & Jakob de Haan & Aurélien Leroy, 2020. "Inflation and the Income Share of the Rich: Evidence for 12 OECD Countries," CESifo Working Paper Series 8203, CESifo.
    8. Thomas Hintermaier & Winfried Koeniger, 2018. "Differences in Euro-Area Household Finances and their Relevance for Monetary-Policy Transmission," CESifo Working Paper Series 7088, CESifo.
    9. Mehdi El Herradi & Jakob Haan & Aurélien Leroy, 2023. "Inflation and the Income Share of the Rich: Evidence for 14 OECD Countries," Post-Print hal-03613019, HAL.
    10. Bertrand Garbinti & Pierre Lamarche & Fredérique Savignac, 2024. "Wealth Heterogeneity and the Marginal Propensity to Consume out of Wealth," Working Papers 2022-02, Center for Research in Economics and Statistics.
    11. Binetti, Alberto & Nuzzi, Francesco & Stantcheva, Stefanie, 2024. "People’s understanding of inflation," Journal of Monetary Economics, Elsevier, vol. 148(S).
    12. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal rigidities in debt and product markets," Working Papers 2016-17, Federal Reserve Bank of St. Louis.
    13. Pavel Vikharev & Anna Novak & Andrei Shulgin, 2023. "Inequality and monetary policy: THRANK model," Bank of Russia Working Paper Series wps113, Bank of Russia.
    14. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2019. "MoNK: Mortgages in a New-Keynesian Model," Working Papers 2019-32, Federal Reserve Bank of St. Louis.
    15. Tzamourani, Panagiota, 2019. "The interest rate exposure of euro area households," Discussion Papers 01/2019, Deutsche Bundesbank.
    16. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa, 2021. "Intergenerational redistributive effects of monetary policy," Working Papers 2021-03, Faculty of Economic Sciences, University of Warsaw.
    17. Florin Bilbiie & Xavier Ragot, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Working Papers hal-03471839, HAL.
    18. Chiara Punzo & Lorenza Rossi, 2019. "The Redistributive Effects of a Money-Financed Fiscal Stimulus," DISCE - Working Papers del Dipartimento di Economia e Finanza def076, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    19. Anastasios Evgenidis & Apostolos Fasianos, 2019. "Monetary Policy and Wealth Inequalities in Great Britain: Assessing the role of unconventional policies for a decade of household data," Papers 1912.09702, arXiv.org.
    20. Luigi Paciello & Claudio Michelacci, 2016. "Forward Misguidance," 2016 Meeting Papers 617, Society for Economic Dynamics.
    21. Philip Schnorpfeil & Michael Weber & Andreas Hackethal, 2023. "Households' Response to the Wealth Effects of Inflation," NBER Working Papers 31672, National Bureau of Economic Research, Inc.
    22. Pallotti, Filippo & Paz-Pardo, Gonzalo & Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2024. "Who bears the costs of inflation? Euro area households and the 2021–2023 shock," Journal of Monetary Economics, Elsevier, vol. 148(S).
    23. Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2020. "Household balance sheet channels of monetary policy: A back of the envelope calculation for the euro area," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    24. Demary, Markus & Niehues, Judith & Stockhausen, Maximilian & Zdrzalek, Jonas, 2021. "Der Einfluss der EZB-Geldpolitik auf die Vermögensverteilung in Deutschland," Studien, Stiftung Familienunternehmen / Foundation for Family Businesses, number 250019, February.
    25. Engel, Janina & Riera, Pau Gayà & Grilli, Joseph & Sola, Pierre, 2022. "Developing reconciled quarterly distributional national wealth – insight into inequality and wealth structures," Working Paper Series 2687, European Central Bank.
    26. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.
    27. Cao, Shutao & Meh, Césaire A. & Ríos-Rull, José-Víctor & Terajima, Yaz, 2021. "The welfare cost of inflation revisited: The role of financial innovation and household heterogeneity," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 366-380.
    28. Tenreyro, Silvana & Sterk, Vincent, 2015. "The Transmission of Monetary Policy through Redistributions and Durable Purchases," CEPR Discussion Papers 10785, C.E.P.R. Discussion Papers.
    29. National Bank of Poland, 2025. "Monetary policy and welfare redistribution in Poland," BIS Papers chapters, in: Bank for International Settlements (ed.), How can central banks take account of differences across households and firms for monetary policy?, volume 127, pages 257-270, Bank for International Settlements.
    30. Strasser, Georg & Messner, Teresa & Rumler, Fabio & Ampudia, Miguel, 2023. "Inflation heterogeneity at the household level," Occasional Paper Series 325, European Central Bank.
    31. Ampudia, Miguel & Ehrmann, Michael & Strasser, Georg, 2024. "Shopping behavior and the effect of monetary policy on inflation heterogeneity along the income distribution," Journal of Monetary Economics, Elsevier, vol. 148(C).
    32. Valeria Zvereva & Olga Demidova & Dmitry Korshunov & Alexander Myasnikov, 2024. "Impact of Intraregional Income Inequality on the Operation of the Bank of Russia's Monetary Policy Transmission Mechanism," Russian Journal of Money and Finance, Bank of Russia, vol. 83(1), pages 3-31, March.
    33. Kuncl, Martin & Ueberfeldt, Alexander, 2024. "Monetary policy and the persistent aggregate effects of wealth redistribution," Journal of Monetary Economics, Elsevier, vol. 144(C).
    34. Rodrigo Lluberas & Juan Odriozola, 2015. "Inflation, currency depreciation and households balance sheet in Uruguay," Documentos de trabajo 2015009, Banco Central del Uruguay.
    35. Adam, Klaus & Tzamourani, Panagiota, 2015. "Distributional Consequences of Asset Price Inflation in the Euro Area," CEPR Discussion Papers 10897, C.E.P.R. Discussion Papers.
    36. Ampudia, Miguel & Ehrmann, Michael & Strasser, Georg, 2023. "The effect of monetary policy on inflation heterogeneity along the income distribution," CEPR Discussion Papers 18460, C.E.P.R. Discussion Papers.
    37. Hayo, Bernd, 2023. "Does the ECB's monetary policy affect personal finances and economic inequality? A household perspective from Germany," Economic Modelling, Elsevier, vol. 129(C).
    38. Juan Carlos Berganza & Pedro del Río & Fructuoso Borrallo, 2016. "Determinants and implications of low global inflation rates," Occasional Papers 1608, Banco de España.
    39. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2024. "The impact of monetary policy shocks on net worth and consumption across races in the United States," Economic Systems, Elsevier, vol. 48(1).
    40. Fasianos, Apostolos & Evgenidis, Anastasios, 2020. "Unconventional Monetary Policy and Wealth Inequalities in Great Britain," CEPR Discussion Papers 14656, C.E.P.R. Discussion Papers.
    41. Bence Bardóczy & Mateo Velásquez-Giraldo, 2024. "HANK Comes of Age," Finance and Economics Discussion Series 2024-052, Board of Governors of the Federal Reserve System (U.S.).
    42. Yang, Xiaoliang & Zhou, Peng, 2022. "Wealth inequality and social mobility: A simulation-based modelling approach," Journal of Economic Behavior & Organization, Elsevier, vol. 196(C), pages 307-329.
    43. Pirmin Fessler & Peter Lindner & Martin Schürz, 2016. "In focus: Eurosystem Household Finance and Consumption Survey 2014 – first results for Austria (second wave)," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 34-95.
    44. Chiara Punzo & Lorenza Rossi, 2021. "Is a Money-financed Fiscal Stimulus Desirable?," Working papers 818, Banque de France.
    45. Wolff, Edward N., 2025. "Is there really an inflation tax? Not for the middle class," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 297-319.
    46. Garbinti Bertrand & Savignac Frédérique, 2018. "The role of real estate in euro area wealth inequality: lessons from the Household Finance and Consumption Survey," Rue de la Banque, Banque de France, issue 55, january.
    47. Goodness C. Aye & Laurence Harris & Junior T. Chiweza, 2020. "Monetary policy and wealth inequality in South Africa: Evidence from tax administrative data," WIDER Working Paper Series wp-2020-174, World Institute for Development Economic Research (UNU-WIDER).
    48. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    49. Matteo Leombroni & Ciaran Rogers, 2019. "Heterogeneous Households and the Portfolio Rebalancing Channel of Monetary Policy," 2019 Meeting Papers 684, Society for Economic Dynamics.
    50. Marco Bellifemine & Adrien Couturier & Rustam Jamilov, 2022. "The Regional Keynesian Cross," Economics Series Working Papers 995, University of Oxford, Department of Economics.
    51. Luetticke, Ralph, 2020. "Comment on “The Household Channel of Monetary Policy in the Euro Area: A Back of the Envelope Calculation”," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    52. Serena Merrino, 2020. "Wage inequality under inflation-targeting in South Africa," WIDER Working Paper Series wp-2020-86, World Institute for Development Economic Research (UNU-WIDER).
    53. Christian A. Conrad, 2024. "The Impact of Inflation and a Real Interest Rate Gap on the Capital Market and Economic Development - Evidence from Two Behavioral Experiments," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 16(12), pages 1-15, December.
    54. Serena Merrino, 2021. "Wage inequality under inflationtargeting in South Africa," Working Papers 11018, South African Reserve Bank.
    55. Matusche, Alexander & Wacks, Johannes, 2023. "Does wealth inequality affect the transmission of monetary policy?," Journal of Macroeconomics, Elsevier, vol. 75(C).
    56. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.
    57. Lucas Hafemann & Paul Rudel & Joerg Schmidt, 2017. "Moving Closer or Drifting Apart: Distributional Effects of Monetary Policy," MAGKS Papers on Economics 201721, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    58. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    59. Pallotti, Filippo & Paz-Pardo, Gonzalo & Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2023. "Who bears the costs of inflation? Euro area households and the 2021–2022 shock," Working Paper Series 2877, European Central Bank.
    60. Federle, Jonathan-Julian & Mohr, Cathrin & Schularick, Moritz, 2024. "Inflation surprises and election outcomes," Kiel Working Papers 2278, Kiel Institute for the World Economy (IfW Kiel).
    61. Marco Bellifemine & Adrien Couturier & Rustam Jamilov, 2023. "The Regional Keynesian Cross," Discussion Papers 2311, Centre for Macroeconomics (CFM).
    62. Chiara Punzo & Lorenza Rossi, 2023. "A Money‐Financed Fiscal Stimulus: Redistribution and Social Welfare," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 595-617, March.
    63. Natalia Martín Fuentes & Elena Bárcena Martín & Salvador Pérez Moreno, "undated". "Who takes the cake? The heterogeneous effect of ECB accommodative monetary policy across income classes," Working Papers 657, ECINEQ, Society for the Study of Economic Inequality.
    64. Kim, Dong-Hyeon & Lin, Shu-Chin, 2024. "Inflation and wealth inequality," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 893-907.
    65. Berisha, Edmond & Meszaros, John, 2020. "Macroeconomic determinants of wealth inequality dynamics," Economic Modelling, Elsevier, vol. 89(C), pages 153-165.
    66. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2018. "Monetary policy and the redistribution of net worth in the US," LSE Research Online Documents on Economics 91320, London School of Economics and Political Science, LSE Library.
    67. Michael Reiter & Philipp Hergovich, 2016. "Housing and the Redistributive Effects of Monetary Policy," 2016 Meeting Papers 1324, Society for Economic Dynamics.
    68. Felipe Alves & Christian Bustamante & Xing Guo & Katya Kartashova & Soyoung Lee & Thomas Michael Pugh & Kurt See & Yaz Terajima & Alexander Ueberfeldt, 2022. "Heterogeneity and Monetary Policy: A Thematic Review," Discussion Papers 2022-2, Bank of Canada.
    69. Mikołaj Raczyński, 2022. "Monetary policy and economic inequality: a literature review," Bank i Kredyt, Narodowy Bank Polski, vol. 53(2), pages 231-278.
    70. Altmann Kristina & Bernard René & Le Blanc Julia & Gabor-Toth Enikö & Hebbat Malik & Kothmayr Lisa & Schmidt Tobias & Tzamourani Panagiota & Werner Daniel & Zhu Junyi, 2020. "The Panel on Household Finances (PHF) – Microdata on household wealth in Germany," German Economic Review, De Gruyter, vol. 21(3), pages 373-400, September.

  14. Adam, Klaus & Tzamourani, Panagiota, 2015. "Distributional Consequences of Asset Price Inflation in the Euro Area," CEPR Discussion Papers 10897, C.E.P.R. Discussion Papers.

    Cited by:

    1. Daniel Marcel te Kaat & Chang Ma & Alessandro Rebucci, 2024. "Portfolio Flows and Household Portfolios," NBER Working Papers 32210, National Bureau of Economic Research, Inc.
    2. Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2017. "Les effets redistributifs des politiques monétaires de la BCE," Revue d'économie financière, Association d'économie financière, vol. 0(4), pages 165-180.
    3. Ampudia, Miguel & Georgarakos, Dimitris & Slacalek, Jiri & Tristani, Oreste & Vermeulen, Philip & Violante, Giovanni L., 2018. "Monetary policy and household inequality," Working Paper Series 2170, European Central Bank.
    4. Thomas Hintermaier & Winfried Koeniger, 2018. "Differences in Euro-Area Household Finances and their Relevance for Monetary-Policy Transmission," CESifo Working Paper Series 7088, CESifo.
    5. Makram El-Shagi, 2024. "The Effect of Monetary Policy Shocks on Inequality in the Eurozone," CFDS Discussion Paper Series 2024/2, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    6. Davide Furceri & Mr. Prakash Loungani & Ms. Aleksandra Zdzienicka, 2016. "The Effects of Monetary Policy Shocks on Inequality," IMF Working Papers 2016/245, International Monetary Fund.
    7. Michele Lenza & Jiri Slacalek, 2024. "How does monetary policy affect income and wealth inequality? Evidence from quantitative easing in the euro area," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 39(5), pages 746-765, August.
    8. Moritz Schularick, 2022. "New perspectives on monetary policy," Working Papers 3, Forum New Economy.
    9. Pavel Vikharev & Anna Novak & Andrei Shulgin, 2023. "Inequality and monetary policy: THRANK model," Bank of Russia Working Paper Series wps113, Bank of Russia.
    10. Alina K Bartscher & Moritz Kuhn & Moritz Schularick & Paul Wachtel, 2022. "Monetary Policy and Racial Inequality," SciencePo Working papers Main hal-03881327, HAL.
    11. Tzamourani, Panagiota, 2019. "The interest rate exposure of euro area households," Discussion Papers 01/2019, Deutsche Bundesbank.
    12. Anastasios Evgenidis & Apostolos Fasianos, 2019. "Monetary Policy and Wealth Inequalities in Great Britain: Assessing the role of unconventional policies for a decade of household data," Papers 1912.09702, arXiv.org.
    13. Merrino, Serena, 2022. "Monetary policy and wage inequality in South Africa," Emerging Markets Review, Elsevier, vol. 53(C).
    14. Jérôme Creel & Mehdi El Herradi, 2024. "Income inequality and monetary policy in the euro area," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 332-355, January.
    15. Regine Pleninger & Jan-Egbert Sturm, 2019. "The Effects of Economic Globalisation and Ethnic Fractionalisation on Redistribution," KOF Working papers 19-465, KOF Swiss Economic Institute, ETH Zurich.
    16. Demary, Markus & Niehues, Judith & Stockhausen, Maximilian & Zdrzalek, Jonas, 2021. "Der Einfluss der EZB-Geldpolitik auf die Vermögensverteilung in Deutschland," Studien, Stiftung Familienunternehmen / Foundation for Family Businesses, number 250019, February.
    17. Engel, Janina & Riera, Pau Gayà & Grilli, Joseph & Sola, Pierre, 2022. "Developing reconciled quarterly distributional national wealth – insight into inequality and wealth structures," Working Paper Series 2687, European Central Bank.
    18. Davtyan, Karen, 2023. "Unconventional monetary policy and economic inequality," Economic Modelling, Elsevier, vol. 126(C).
    19. Mäki-Fränti, Petri & Silvo, Aino & Gulan, Adam & Kilponen, Juha, 2022. "Monetary policy and inequality: The Finnish case," Bank of Finland Research Discussion Papers 3/2022, Bank of Finland.
    20. Jérôme Creel & Mehdi El Herradi, 2019. "Shocking aspects of monetary policy on income inequality in the euro area," SciencePo Working papers Main hal-03403233, HAL.
    21. Altavilla, Carlo & Lemke, Wolfgang & Linzert, Tobias & Tapking, Jens & von Landesberger, Julian, 2021. "Assessing the efficacy, efficiency and potential side effects of the ECB’s monetary policy instruments since 2014," Occasional Paper Series 278, European Central Bank.
    22. Till Baldenius & Sebastian Kohl & Moritz Schularick, 2021. "Die neue Wohnungsfrage: Gewinner und Verlierer des deutschen Immobilienbooms," ECONtribute Policy Brief Series 019, University of Bonn and University of Cologne, Germany.
    23. Mumtaz, Haroon & Theophilopoulou, Angeliki, 2020. "Monetary policy and wealth inequality over the great recession in the UK. An empirical analysis," European Economic Review, Elsevier, vol. 130(C).
    24. Makram El-Shagi & Steven Yamarik, 2024. "The Effect of Monetary Policy Shocks on Income Inequality across US states," CFDS Discussion Paper Series 2024/4, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    25. Ampudia, Miguel & Ehrmann, Michael & Strasser, Georg, 2024. "Shopping behavior and the effect of monetary policy on inflation heterogeneity along the income distribution," Journal of Monetary Economics, Elsevier, vol. 148(C).
    26. Clara De Luigi & Martin Feldkircher & Philipp Poyntner & Helene Schuberth, 2019. "Effects of the ECB’s Unconventional Monetary Policy on Real and Financial Wealth," Department of Economics Working Papers wuwp286, Vienna University of Economics and Business, Department of Economics.
    27. Caterina Forti Grazzini & Chi Hyun Kim, 2020. "Is Monetary Policy Gender Neutral? Evidence from the Stock Market," Discussion Papers of DIW Berlin 1841, DIW Berlin, German Institute for Economic Research.
    28. Anna Samarina & Anh D.M. Nguyen, 2024. "Does Monetary Policy Affect Income Inequality in the Euro Area?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 35-80, February.
    29. Israel, Karl-Friedrich & Sepp, Tim & Sonnenberg, Nils, 2021. "Japanese monetary policy and household saving," Working Papers 173, University of Leipzig, Faculty of Economics and Management Science.
    30. Ampudia, Miguel & Ehrmann, Michael & Strasser, Georg, 2023. "The effect of monetary policy on inflation heterogeneity along the income distribution," CEPR Discussion Papers 18460, C.E.P.R. Discussion Papers.
    31. Hayo, Bernd, 2023. "Does the ECB's monetary policy affect personal finances and economic inequality? A household perspective from Germany," Economic Modelling, Elsevier, vol. 129(C).
    32. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2024. "The impact of monetary policy shocks on net worth and consumption across races in the United States," Economic Systems, Elsevier, vol. 48(1).
    33. Fasianos, Apostolos & Evgenidis, Anastasios, 2020. "Unconventional Monetary Policy and Wealth Inequalities in Great Britain," CEPR Discussion Papers 14656, C.E.P.R. Discussion Papers.
    34. Bezemer, Dirk & Samarina, Anna, 2016. "Debt Shift, Financial Development and Income Inequality in Europe," Research Report 16020-GEM, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    35. Dietrich Domanski & Michela Scatigna & Anna Zabai, 2016. "Wealth inequality and monetary policy," BIS Quarterly Review, Bank for International Settlements, March.
    36. Pirmin Fessler & Peter Lindner & Martin Schürz, 2016. "In focus: Eurosystem Household Finance and Consumption Survey 2014 – first results for Austria (second wave)," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 34-95.
    37. Simona Malovaná & Michal Hlaváček & Kamil Galuščák, 2018. "Citlivost českých domácností na úrokový a příjmový šok. Aplikace na mikroúdajích [Sensitivity of Czech Households to Interest Rate and Income Shock. Applications on Microdata]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(5), pages 531-549.
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    39. Melissa van Rensburg, 2022. "The impact of New Zealand’s macroeconomic frameworks on living standards," Treasury Analytical Notes Series an22/02, New Zealand Treasury.
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    1. John C. Williams, 2014. "Financial stability and monetary policy: happy marriage or untenable union?," Speech 131, Federal Reserve Bank of San Francisco.
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    3. Suzanne Bellue, 2024. "Why Don’t Poor Families Move? A Spatial Equilibrium Analysis of Parental Decisions with Social Learning," Working Papers 2024-07, Center for Research in Economics and Statistics.
    4. Marianne Andries & Milo Bianchi & Karen Huynh & Sébastien Pouget, 2024. "Return Predictability, Expectations, and Investment: Experimental Evidence," Post-Print hal-04680777, HAL.
    5. Kuang, Pei, 2014. "A model of housing and credit cycles with imperfect market knowledge," European Economic Review, Elsevier, vol. 70(C), pages 419-437.
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    7. Stefan Nagel & Zhengyang Xu, 2019. "Asset Pricing with Fading Memory," NBER Working Papers 26255, National Bureau of Economic Research, Inc.
    8. Stefano Eusepi & Bruce Preston, 2013. "Fiscal foundations of inflation: imperfect knowledge," Staff Reports 649, Federal Reserve Bank of New York.
    9. Greg Kaplan & Kurt Mitman & Giovanni L. Violante, 2020. "The Housing Boom and Bust: Model Meets Evidence," Journal of Political Economy, University of Chicago Press, vol. 128(9), pages 3285-3345.
    10. Cars Hommes & Robert Calvert Jump & Paul Levine, 2017. "Internal rationalityuyuyuy, heterogeneity and complexity in the New Keynesian model," Working Papers 20171706, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
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    112. Katsuhiro Oshima, 2019. "Subjective Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1012, Kyoto University, Institute of Economic Research.
    113. Prat, Georges & Le Bris, David, 2024. "Term structure of equity risk premia in rough terrain: 150 years of the French stock market," The Quarterly Review of Economics and Finance, Elsevier, vol. 97(C).
    114. Kelikume, Ikechukwu & Evans, Olaniyi & Iyoha, Faith, 2020. "Efficient Market Hypothesis in the Presence of Market Imperfections: Evidence from Selected Stock Markets in Africa," MPRA Paper 118200, University Library of Munich, Germany.
    115. Johan de Jong & Joep Sonnemans & Jan Tuinstra, "undated". "The Effect of Futures Markets on the Stability of Commodity Prices," Tinbergen Institute Discussion Papers 19-028/II, Tinbergen Institute.
    116. Berardi, Michele, 2021. "Uncertainty, sentiments and time-varying risk premia," MPRA Paper 106922, University Library of Munich, Germany.
    117. Hiebert, Paul & Jaccard, Ivan & Schüler, Yves, 2018. "Contrasting financial and business cycles: Stylized facts and candidate explanations," Journal of Financial Stability, Elsevier, vol. 38(C), pages 72-80.
    118. Pei Kuang, 2019. "New Tests of Expectation Formation with Applications to Asset Pricing Models," 2019 Meeting Papers 187, Society for Economic Dynamics.
    119. Charles Nathanson & Edward Glaeser, 2015. "An Extrapolative Model of House Price Dynamics," 2015 Meeting Papers 1108, Society for Economic Dynamics.
    120. Anmol Bhandari & Jaroslav Borovicka & Paul Ho, 2019. "Survey Data and Subjective Beliefs in Business Cycle Models," Working Paper 19-14, Federal Reserve Bank of Richmond.
    121. Katsuhiro Oshima, 2019. "Heterogeneous Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1013, Kyoto University, Institute of Economic Research.
    122. Emir Zildžović, 2015. "The Sustainability Of Serbia`S External Position: The Impact Of Fiscal Adjustment And External Shocks," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 60(204), pages 31-60, January –.
    123. Zhang, Renbin & Zhang, Tongbin, 2025. "The AH premium: A tale of “siamese twin” stocks," Journal of Empirical Finance, Elsevier, vol. 81(C).
    124. Makridis, Christos A., 2022. "The social transmission of economic sentiment on consumption," European Economic Review, Elsevier, vol. 148(C).
    125. Pei Kuang & Kaushik Mitra, 2022. "Potential Output Pessimism and Austerity in the European Union," Discussion Papers 22-08, Department of Economics, University of Birmingham.
    126. Li, Kai & Liu, Jun, 2023. "Extrapolative asset pricing," Journal of Economic Theory, Elsevier, vol. 210(C).
    127. von Gaudecker, Hans-Martin & Wogrolly, Axel, 2022. "Heterogeneity in households’ stock market beliefs," Journal of Econometrics, Elsevier, vol. 231(1), pages 232-247.
    128. Pascal Kieren & Jan Müller-Dethard & Martin Weber, 2023. "Risk-Taking and Asymmetric Learning in Boom and Bust Markets," Review of Finance, European Finance Association, vol. 27(5), pages 1743-1779.
    129. Christine Laudenbach & Annika Weber & Johannes Wohlfart, 2021. "Beliefs About the Stock Market and Investment Choices: Evidence from a Field Experiment," ECONtribute Discussion Papers Series 128, University of Bonn and University of Cologne, Germany.
    130. Alemán, Christian & Busch, Christopher & Ludwig, Alexander & Santaeulàlia-Llopis, Raül, 2023. "Stage-based identification of policy effects," ICIR Working Paper Series 52/23, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    131. Cong Chen & Changsheng Hu & Liang Wu, 2023. "Feedback Trading, Investor Sentiment and the Volatility Puzzle: An Infinite Theoretical Framework," Mathematics, MDPI, vol. 11(14), pages 1-15, July.
    132. Gandré, Pauline, 2020. "US stock prices and recency-biased learning in the run-up to the Global Financial Crisis and its aftermath," Journal of International Money and Finance, Elsevier, vol. 104(C).
    133. Kedar-Levy, Haim, 2020. "Price discovery in the small and in the large: Momentum and reversal, bubbles, and crashes," Journal of Financial Markets, Elsevier, vol. 48(C).

  16. Adam, Klaus, 2012. "Optimal Sovereign Default," CEPR Discussion Papers 9178, C.E.P.R. Discussion Papers.

    Cited by:

    1. Thomas McGregor, 2019. "Pricing Sovereign Debt in Resource-Rich Economies," IMF Working Papers 2019/240, International Monetary Fund.
    2. Niemann, Stefan & Pichler, Paul, 2014. "Collateral, liquidity and debt sustainability," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100617, Verein für Socialpolitik / German Economic Association.
    3. Jitendra Kumar Chaurasiya & Bhanu Pratap Singh & Sujit Kumar, 2025. "Do institutional settings condition the effect of macroprudential policies on sovereign default risk? Cross-country evidence," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-60, June.
    4. Jeromin Zettelmeyer & Christoph Trebesch & Mitu Gulati, 2013. "The Greek debt restructuring: an autopsy [Greek bond buyback boondoggle]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 28(75), pages 513-563.
    5. Sosa-Padilla, César, 2018. "Sovereign defaults and banking crises," Journal of Monetary Economics, Elsevier, vol. 99(C), pages 88-105.
    6. Thomas McGregor, 2017. "Pricing sovereign debt in resource rich economies," OxCarre Working Papers 194, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    7. Juessen, Falko & Schabert, Andreas, 2013. "Fiscal Policy, Sovereign Default, and Bailouts," IZA Discussion Papers 7805, Institute of Labor Economics (IZA).
    8. Xuan Wang, 2019. "When Do Currency Unions Benefit From Default ?," 2019 Papers pwa938, Job Market Papers.
    9. Trebesch, Christoph & Zabel, Michael, 2016. "The Output Costs of Hard and Soft Sovereign Default," CEPR Discussion Papers 11582, C.E.P.R. Discussion Papers.
    10. Stefan Niemann & Paul Pichler, 2017. "Optimal fiscal policy and sovereign debt crises," Working Papers 218, Oesterreichische Nationalbank (Austrian Central Bank).
    11. Xuan Wang, 2021. "Bankruptcy Codes and Risk Sharing of Currency Unions," Tinbergen Institute Discussion Papers 21-009/IV, Tinbergen Institute.
    12. Mr. Michael Kumhof & Mr. Romain Ranciere & Pablo Winant, 2013. "Inequality, Leverage and Crises: The Case of Endogenous Default," IMF Working Papers 2013/249, International Monetary Fund.
    13. Toan Phan & Felipe Schwartzman, 2023. "Climate Defaults and Financial Adaptation," Working Paper 23-06, Federal Reserve Bank of Richmond.
    14. Joost Rцttger, 2014. "Monetary and Fiscal Policy with Sovereign Default," Working Paper Series in Economics 74, University of Cologne, Department of Economics.
    15. Stefan Niemann & Paul Pichler, 2020. "Online Appendix to "Optimal fiscal policy and sovereign debt crises"," Online Appendices 18-382, Review of Economic Dynamics.
    16. Phan, Toàn & Schwartzman, Felipe, 2024. "Climate defaults and financial adaptation," European Economic Review, Elsevier, vol. 170(C).
    17. Daniel, Betty C. & Nam, Jinwook, 2022. "The Greek debt crisis: Excusable vs. strategic default," Journal of International Economics, Elsevier, vol. 138(C).
    18. Rieth, Malte, 2014. "Myopic governments and welfare-enhancing debt limits," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 250-265.
    19. Fabrice Collard & Michel Habib & Jean-Charles Rochet, 2015. "Sovereign Debt Sustainability In Advanced Economies," Journal of the European Economic Association, European Economic Association, vol. 13(3), pages 381-420, June.
    20. Demian Pouzo & Ignacio Presno, 2020. "Optimal Taxation with Endogenous Default under Incomplete Markets," International Finance Discussion Papers 1297, Board of Governors of the Federal Reserve System (U.S.).
    21. Malte Rieth, 2017. "Capital Taxation and Government Debt Policy with Public Discounting," Discussion Papers of DIW Berlin 1697, DIW Berlin, German Institute for Economic Research.
    22. Roettger, Joost, 2019. "Discretionary monetary and fiscal policy with endogenous sovereign risk," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 44-66.
    23. Chen, Hsien-Yi & Chen, Sheng-Syan, 2018. "Quality of government institutions and spreads on sovereign credit default swaps," Journal of International Money and Finance, Elsevier, vol. 87(C), pages 82-95.
    24. Dooyeon Cho & Dong‐Eun Rhee, 2024. "Determinants of market‐assessed sovereign default risk: Macroeconomic fundamentals or global shocks?," International Finance, Wiley Blackwell, vol. 27(1), pages 35-60, April.

  17. Woodford, Michael & Adam, Klaus, 2012. "Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model," CEPR Discussion Papers 8826, C.E.P.R. Discussion Papers.

    Cited by:

    1. Pierpaolo Benigno & Luigi Paciello, 2010. "Monetary Policy, Doubts and Asset Prices," EIEF Working Papers Series 1024, Einaudi Institute for Economics and Finance (EIEF), revised Sep 2010.
    2. Riccardo M Masolo & Francesca Monti, 2021. "Ambiguity, Monetary Policy and Trend Inflation," Journal of the European Economic Association, European Economic Association, vol. 19(2), pages 839-871.
    3. Karantounias, Anastasios G., 2023. "Doubts about the model and optimal policy," Journal of Economic Theory, Elsevier, vol. 210(C).
    4. Hyosung Kwon & Jianjun Miao, 2013. "Three Types of Robjst Ramsey Problem in a Linear-Quadratic Framework," Boston University - Department of Economics - Working Papers Series 2013-019, Boston University - Department of Economics.
    5. Stefano Eusepi & Marc P. Giannoni & Bruce Preston, 2017. "Some implications of learning for price stability," CAMA Working Papers 2017-08, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    6. Adam, Klaus & Woodford, Michael, 2021. "Robustly optimal monetary policy in a new Keynesian model with housing," Journal of Economic Theory, Elsevier, vol. 198(C).
    7. Klaus Adam & Michael Woodford, 2018. "Leaning Against Housing Prices as Robustly Optimal Monetary Policy," NBER Working Papers 24629, National Bureau of Economic Research, Inc.
    8. Jaroslav Borovicka, 2016. "Identifying ambiguity shocks in business cycle models using survey data," 2016 Meeting Papers 1615, Society for Economic Dynamics.
    9. Kyle Jurado, 2016. "Advance Information and Distorted Beliefs in Macroeconomic and Financial Fluctuations," 2016 Meeting Papers 154, Society for Economic Dynamics.
    10. Marine Charlotte André & Meixing Dai, 2016. "Learning, robust monetray policy and the merit of precaution," Working Papers of BETA 2016-54, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    11. Giovanni Di Bartolomeo & Carolina Serpieri, 2025. "Robust optimal monetary policies in behavioral New Keynesian DSGE models," Working Papers in Public Economics 261, Department of Economics and Law, Sapienza University of Roma.
    12. Dave, Chetan & Malik, Samreen, 2017. "A tale of fat tails," European Economic Review, Elsevier, vol. 100(C), pages 293-317.
    13. Philip N. Jefferson, 2024. "Economic Uncertainty and the Evolution of Monetary Policymaking: A speech at the International Research Forum on Monetary Policy, Washington, D.C., April 16, 2024," Speech 98082, Board of Governors of the Federal Reserve System (U.S.).
    14. Anastasios G. Karantounias, 2020. "Model Uncertainty and Policy Design," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2020(17), pages 1-16, December.
    15. Cosmin L. Ilut & Martin Schneider, 2022. "Modeling Uncertainty as Ambiguity: a Review," NBER Working Papers 29915, National Bureau of Economic Research, Inc.
    16. Gaetano Gaballo & Ramon Marimon, 2016. "Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies," NBER Working Papers 22006, National Bureau of Economic Research, Inc.
    17. Charles Brendon & Martin Ellison, 2018. "Time-Consistently Undominated Policies," Discussion Papers 1801, Centre for Macroeconomics (CFM).
    18. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Chapters, in: NBER Macroeconomics Annual 2020, volume 35, pages 1-86, National Bureau of Economic Research, Inc.
    19. Philip N. Jefferson, 2023. "Elevated Economic Uncertainty: Causes and Consequences: A speech at Global Risk, Uncertainty, and Volatility,” a research conference sponsored by the Federal Reserve Board of Governors, Swiss National," Speech 97302, Board of Governors of the Federal Reserve System (U.S.).
    20. Stanislao Gualdi & Marco Tarzia & Francesco Zamponi & Jean-Philippe Bouchaud, 2017. "Monetary policy and dark corners in a stylized agent-based model," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 12(3), pages 507-537, October.
    21. Driscoll, John C. & Holden, Steinar, 2014. "Behavioral economics and macroeconomic models," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 133-147.
    22. Federico Bennett & Giselle Montamat & Francisco Roch, 2022. "Robust Optimal Macroprudential Policy," Working Papers 141, Red Nacional de Investigadores en Economía (RedNIE).
    23. Joshua Bernstein & Rupal Kamdar, 2023. "Rationally Inattentive Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 265-296, April.
    24. Frank Hespeler & Marco M. Sorge, 2018. "Does Near†Rationality Matter In First†Order Approximate Solutions? A Perturbation Approach," Bulletin of Economic Research, Wiley Blackwell, vol. 70(1), pages 97-113, January.
    25. Klaus Adam & Henning Weber, 2024. "The Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2024_572, University of Bonn and University of Mannheim, Germany.
    26. Adam, Klaus & Weber, Henning, 2024. "The Optimal Inflation Target: Bridging the Gap Between Theory and Policy," CEPR Discussion Papers 19170, C.E.P.R. Discussion Papers.
    27. Stephane Dupraz & Sophie Guilloux-Nefussi & Adrian Penalver, 2023. "A Pitfall of Cautiousness in Monetary Policy∗," International Journal of Central Banking, International Journal of Central Banking, vol. 19(3), pages 269-323, August.
    28. Frank Hespeler & Marco M. Sorge, 2013. "Does Near-Rationality Matter in First-Order Approximate Solutions? A Perturbation Approach," CSEF Working Papers 339, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    29. Boeck, Maximilian & Feldkircher, Martin, 2021. "The Impact of Monetary Policy on Yield Curve Expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 887-901.
    30. Ying Tung Chan & Chi Man Yip, 2023. "On the ambiguity of job search," Economic Inquiry, Western Economic Association International, vol. 61(4), pages 1006-1033, October.
    31. Michael Woodford, 2013. "Macroeconomic Analysis without the Rational Expectations Hypothesis," NBER Working Papers 19368, National Bureau of Economic Research, Inc.
    32. Olena Kostyshyna & Tolga Özden & Yang Zhang, 2024. "Endogenous Credibility and Wage-Price Spirals," Staff Working Papers 24-14, Bank of Canada.
    33. Martin Ellison & Charles Brendon, 2015. "Time-Consistent Institutional Design," 2015 Meeting Papers 495, Society for Economic Dynamics.
    34. Deák, Szabolcs & Levine, Paul & Mirza, Afrasiab & Pearlman, Joseph, 2025. "All models are wrong but all can be useful: Robust policy design using prediction pools," Journal of Economic Dynamics and Control, Elsevier, vol. 176(C).

  18. Michael Grill & Klaus Adam, 2012. "Optimal Sovereign Debt Default," 2012 Meeting Papers 882, Society for Economic Dynamics.

    Cited by:

    1. Juessen, Falko & Schabert, Andreas, 2013. "Fiscal Policy, Sovereign Default, and Bailouts," IZA Discussion Papers 7805, Institute of Labor Economics (IZA).
    2. Joost Rцttger, 2014. "Monetary and Fiscal Policy with Sovereign Default," Working Paper Series in Economics 74, University of Cologne, Department of Economics.

  19. Klaus Adam & Albert Marcet, 2011. "Internal Rationality, Imperfect Market Knowledge and Asset Prices," CEP Discussion Papers dp1068, Centre for Economic Performance, LSE.

    Cited by:

    1. Klaus Adam & Pei Kuang & Albert Marcet, 2011. "House Price Booms and the Current Account," NBER Working Papers 17224, National Bureau of Economic Research, Inc.
    2. Müller, Gernot & Wolf, Martin & Hettig, Thomas, 2019. "Exchange Rate Undershooting: Evidence and Theory," CEPR Discussion Papers 13597, C.E.P.R. Discussion Papers.
    3. Robert Calvert Jump & Cars Hommes & Paul Levine, 2018. "Learning, Heterogeneity, and Complexity in the New Keynesian Model," Working Papers 20181807, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    4. Kuang, Pei, 2014. "A model of housing and credit cycles with imperfect market knowledge," European Economic Review, Elsevier, vol. 70(C), pages 419-437.
    5. Shinichi Hirota & Juergen Huber & Thomas Stock & Shyam Sunder, 2018. "Speculation and Price Indeterminacy in Financial Markets: An Experimental Study," Cowles Foundation Discussion Papers 2134, Cowles Foundation for Research in Economics, Yale University.
    6. Pei Kuang, 2013. "Imperfect Knowledge About Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    7. Cars Hommes & Robert Calvert Jump & Paul Levine, 2017. "Internal rationalityuyuyuy, heterogeneity and complexity in the New Keynesian model," Working Papers 20171706, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    8. Lars Peter Hansen, 2012. "Comment," NBER Macroeconomics Annual, University of Chicago Press, vol. 26(1), pages 132-143.
    9. Kenneth J. Singleton, 2021. "Presidential Address: How Much “Rationality” Is There in Bond‐Market Risk Premiums?," Journal of Finance, American Finance Association, vol. 76(4), pages 1611-1654, August.
    10. Chatterji, Shurojit & Kajii, Atsushi, 2023. "Decentralizability of efficient allocations with heterogeneous forecasts," Journal of Economic Theory, Elsevier, vol. 207(C).
    11. Tesfaselassie, Mewael F., 2011. "Trend growth and learning about monetary policy rules," Kiel Working Papers 1744, Kiel Institute for the World Economy (IfW Kiel).
    12. Adam, Klaus & Marcet, Albert & Nicolini, Juan Pablo, 2011. "Stock market volatility and learning," LSE Research Online Documents on Economics 121739, London School of Economics and Political Science, LSE Library.
    13. Vázquez, Jesús & Aguilar, Pablo, 2021. "Adaptive learning with term structure information," European Economic Review, Elsevier, vol. 134(C).
    14. Adam, Klaus & Marcet, Albert & Merkel, Sebastian & Beutel, Johannes, 2015. "Can a financial transaction tax prevent stock price booms?," Working Papers 15-10, University of Mannheim, Department of Economics.
    15. Winkler, Fabian, 2020. "The role of learning for asset prices and business cycles," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 42-58.
    16. Evans, George W & McGough, Bruce, 2018. "Equilibrium selection, observability and backward-stable solutions," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 1-10.
    17. Kuang, Pei & Mitra, Kaushik, 2016. "Long-run growth uncertainty," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 67-80.
    18. Bielskis, Karolis & Lastauskas, Povilas, 2024. "The role of housing market and credit on household consumption dynamics: Evidence from the OECD countries," Journal of Economic Behavior & Organization, Elsevier, vol. 228(C).
    19. Hommes, Cars & in ’t Veld, Daan, 2017. "Booms, busts and behavioural heterogeneity in stock prices," Journal of Economic Dynamics and Control, Elsevier, vol. 80(C), pages 101-124.
    20. Nakov, Anton & Nuño, Galo, 2014. "Learning from Experience in the Stock Market," CEPR Discussion Papers 9845, C.E.P.R. Discussion Papers.
    21. Caines, Colin & Winkler, Fabian, 2021. "Asset price beliefs and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 53-67.
    22. Shinichi Hirota & Juergen Huber & Thomas Stock & Shyam Sunder, 2015. "Investment Horizons and Price Indeterminacy in Financial Markets," Cowles Foundation Discussion Papers 2001, Cowles Foundation for Research in Economics, Yale University.
    23. Sergio Santoro, 2017. "Heterogeneity and learning with complete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 183-211, June.
    24. Grimaud, Alex & Salle, Isabelle & Vermandel, Gauthier, 2025. "A Dynare toolbox for social learning expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 172(C).
    25. Ellison, Martin & Macaulay, Alistair, 2019. "A Rational Inattention Unemployment Trap," CEPR Discussion Papers 13761, C.E.P.R. Discussion Papers.
    26. Colin C. Caines, 2016. "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US Housing Boom," International Finance Discussion Papers 1181, Board of Governors of the Federal Reserve System (U.S.).
    27. F. Di Pace & K. Mitra & S. Zhang, 2021. "Adaptive Learning and Labor Market Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(2-3), pages 441-475, March.
    28. Borio, Claudio & Drehmann, Mathias & Tsatsaronis, Kostas, 2014. "Stress-testing macro stress testing: Does it live up to expectations?," Journal of Financial Stability, Elsevier, vol. 12(C), pages 3-15.
    29. Hirota, Shinichi & Huber, Juergen & Stöckl, Thomas & Sunder, Shyam, 2022. "Speculation, money supply and price indeterminacy in financial markets: An experimental study," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1275-1296.
    30. Alessandro Spelta & Guido Ascari & Nicolò Pecora, 2012. "Boom and Burst in Housing Market with Heterogeneous Agents," Quaderni di Dipartimento 177, University of Pavia, Department of Economics and Quantitative Methods.
    31. Frankovic, Ivan & Kolb, Benedikt, 2024. "The role of emission disclosure for the low-carbon transition," European Economic Review, Elsevier, vol. 167(C).
    32. Klaus Adam & Sebastian Merkel, 2019. "Stock Price Cycles and Business Cycles," CRC TR 224 Discussion Paper Series crctr224_2019_105, University of Bonn and University of Mannheim, Germany.
    33. Elliot Aurissergues, 2017. "Are consistent expectations better than rational expectations ?," Working Papers hal-01558223, HAL.
    34. Li, Jinfang, 2022. "The sentiment pricing dynamics with short-term and long-term learning," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    35. Özge Dilaver & Robert Jump & Paul Levine, 2016. "Agent-based Macroeconomics and Dynamic Stochastic General Equilibrium Models: Where do we go from here?," School of Economics Discussion Papers 0116, School of Economics, University of Surrey.
    36. Hommes, C.H., 2013. "Behaviorally Rational Expectations and Almost Self-Fulfilling Equilibria," CeNDEF Working Papers 13-17, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    37. Alex Grimaud & Isabelle Salle & Gauthier Vermandel, 2023. "Social learning expectations: microfoundations and a Dynare toolbox," Department of Economics Working Papers wuwp339, Vienna University of Economics and Business, Department of Economics.
    38. Antonio Mele & Krisztina Molnar & Sergio Santoro, 2015. "On the perils of stabilizing prices when agents are learning," School of Economics Discussion Papers 0215, School of Economics, University of Surrey.
    39. Zhang, Tongbin, 2021. "Stock prices and the risk-free rate: An internal rationality approach," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    40. Pooya Molavi, 2019. "Macroeconomics with Learning and Misspecification: A General Theory and Applications," 2019 Meeting Papers 1584, Society for Economic Dynamics.
    41. Klaus Adam & Johannes Beutel & Albert Marcet, 2014. "Stock Price Booms and Expected Capital Gains," UFAE and IAE Working Papers 948.14, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    42. Basso, Henrique S., 2022. "Asset holdings, information aggregation in secondary markets and credit cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    43. Bruce Preston, 2013. "Comment on "Dormant Shocks and Fiscal Virtue"," NBER Chapters, in: NBER Macroeconomics Annual 2013, Volume 28, pages 47-58, National Bureau of Economic Research, Inc.
    44. Zhang, Tongbin, 2014. "Stock Price, Real Riskless Interest Rate and Learning," MPRA Paper 57090, University Library of Munich, Germany.
    45. Branch, William A., 2016. "Imperfect knowledge, liquidity and bubbles," Journal of Economic Dynamics and Control, Elsevier, vol. 62(C), pages 17-42.
    46. Jump, Robert Calvert & Levine, Paul, 2019. "Behavioural New Keynesian models," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 59-77.
    47. Bianchi-Vimercati, Riccardo & Eichenbaum, Martin & Guerreiro, Joao, 2024. "Fiscal stimulus with imperfect expectations: Spending vs. tax policy," Journal of Economic Theory, Elsevier, vol. 217(C).
    48. Hommes, C.H. & Zhu, M., 2012. "Behavioral Learning Equilibria," CeNDEF Working Papers 12-09, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    49. Margaret M. Jacobson, 2022. "Beliefs, Aggregate Risk, and the U.S. Housing Boom," Finance and Economics Discussion Series 2022-061r1, Board of Governors of the Federal Reserve System (U.S.), revised 31 Jan 2025.
    50. Ayan Bhattacharya, 2022. "Arbitrage from a Bayesian's Perspective," Papers 2211.03244, arXiv.org.
    51. Yoo, Donghoon, 2019. "Ambiguous information, permanent income, and consumption fluctuations," European Economic Review, Elsevier, vol. 119(C), pages 79-96.
    52. Javier Turen & Isaac Baley, 2025. "Lumpy Forecasts," Working Papers 1476, Barcelona School of Economics.
    53. Paul Levine & Joseph Pearlman & George Perendia & Bo Yang, 2010. "Endogenous Persistence in an Estimated DSGE Model under Imperfect Information," School of Economics Discussion Papers 0310, School of Economics, University of Surrey.
    54. Adam, Klaus & Pfäuti, Oliver & Reinelt, Timo, 2022. "Subjective Housing Price Expectations, Falling Natural Rates and the Optimal Inflation Target," CEPR Discussion Papers 17187, C.E.P.R. Discussion Papers.
    55. Kenneth J. Singleton, 2014. "Investor Flows and the 2008 Boom/Bust in Oil Prices," Management Science, INFORMS, vol. 60(2), pages 300-318, February.
    56. Jess Benhabib & Chetan Dave, 2011. "Learning, Large Deviations and Rare Events," NBER Working Papers 16816, National Bureau of Economic Research, Inc.
    57. Andrew Y. Chen & Rebecca Wasyk & Fabian Winkler, 2017. "A Likelihood-Based Comparison of Macro Asset Pricing Models," Finance and Economics Discussion Series 2017-024, Board of Governors of the Federal Reserve System (U.S.).
    58. Stefano Eusepi & Marc Giannoni & Bruce Preston, 2012. "Long-term debt pricing and monetary policy transmission under imperfect knowledge," Staff Reports 547, Federal Reserve Bank of New York.
    59. Leonid A. Serkov, 2023. "Effect of sticky Wages on the Behavior of Economic Agents with Heterogeneous Expectations," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 22(2), pages 450-473.
    60. Luzzetti, Matthew N. & Neumuller, Seth, 2016. "Learning and the dynamics of consumer unsecured debt and bankruptcies," Journal of Economic Dynamics and Control, Elsevier, vol. 67(C), pages 22-39.
    61. Caprioli, Francesco, 2015. "Optimal fiscal policy under learning," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 101-124.
    62. Jasmina Arifovic & Alex Grimaud & Isabelle Salle & Gauthier Vermandel, 2025. "Social Learning and Monetary Policy at the Effective Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(2-3), pages 439-475, March.
    63. Ortiz, Marco, 2013. "Learning Through the Yield Curve," Working Papers 2013-018, Banco Central de Reserva del Perú.
    64. Corbae, Dean & Marimon, Ramon, 2011. "Introduction to Incompleteness and Uncertainty in Economics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 775-784, May.
    65. Pablo Aguilar & Jesús Vázquez, 2015. "The role of term structure in an estimated DSGE model with learning," LIDAM Discussion Papers IRES 2015007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    66. Michael Nwogugu, 2020. "Regret Theory And Asset Pricing Anomalies In Incomplete Markets With Dynamic Un-Aggregated Preferences," Papers 2005.01709, arXiv.org.
    67. Evans, David & Evans, George W. & McGough, Bruce, 2022. "The RPEs of RBCs and other DSGEs," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    68. Duffy, John & Shin, Michael, 2024. "Heterogeneous experience and constant-gain learning," Journal of Economic Dynamics and Control, Elsevier, vol. 164(C).
    69. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    70. Manuel Macera & Albert Marcet & Juan Pablo Nicolini, 2019. "On the Risk of Leaving the Euro," Working Papers 760, Federal Reserve Bank of Minneapolis.
    71. Pauline Gandré, 2020. "Learning, house prices and macro-financial linkages," EconomiX Working Papers 2020-10, University of Paris Nanterre, EconomiX.
    72. Pei Kuang & Renbin Zhang & Tongbin Zhang, 2019. "New Tests of Expectation Formation with Applications to Asset Pricing Models," Discussion Papers 19-05, Department of Economics, University of Birmingham.
    73. Katarina Juselius & Katrin Assenmacher, 2014. "Real exchange rate persistence: the case of the Swiss franc-US dollar rate," Discussion Papers 14-26, University of Copenhagen. Department of Economics.
    74. Juselius, Katarina & Stillwagon, Josh R., 2018. "Are outcomes driving expectations or the other way around? An I(2) CVAR analysis of interest rate expectations in the dollar/pound market," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 93-105.
    75. Michał Brzoza-Brzezina & Jacek Suda, 2021. "Are DSGE models irreparably flawed?," Bank i Kredyt, Narodowy Bank Polski, vol. 52(3), pages 227-252.
    76. Dan Tortorice, 2016. "The Business Cycles Implications of Fluctuating Long Run Expectations," Working Papers 100, Brandeis University, Department of Economics and International Business School.
    77. Katsuhiro Oshima, 2021. "Heterogeneous beliefs, monetary policy, and stock price volatility," Annals of Finance, Springer, vol. 17(1), pages 79-125, March.
    78. Khrennikova, Polina & Patra, Sudip, 2019. "Asset trading under non-classical ambiguity and heterogeneous beliefs," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 521(C), pages 562-577.
    79. Katsuhiro Oshima, 2019. "Subjective Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1012, Kyoto University, Institute of Economic Research.
    80. Jacopo Piana & Daniele Bianchi, 2017. "Expected Spot Prices and the Dynamics of Commodity Risk Premia," 2017 Meeting Papers 1149, Society for Economic Dynamics.
    81. Aguilar, Pablo & Vázquez, Jesús, 2021. "An Estimated Dsge Model With Learning Based On Term Structure Information," Macroeconomic Dynamics, Cambridge University Press, vol. 25(7), pages 1635-1665, October.
    82. Lars Peter Hansen, 2011. "Comment on "House Price Booms and the Current Account"," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 132-143, National Bureau of Economic Research, Inc.
    83. Hiebert, Paul & Jaccard, Ivan & Schüler, Yves, 2018. "Contrasting financial and business cycles: Stylized facts and candidate explanations," Journal of Financial Stability, Elsevier, vol. 38(C), pages 72-80.
    84. Ifrim, Adrian, 2023. "Stock Price Wealth Effects and Monetary Policy under Imperfect Knowledge," EconStor Preprints 268307, ZBW - Leibniz Information Centre for Economics.
    85. Katsuhiro Oshima, 2019. "Heterogeneous Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1013, Kyoto University, Institute of Economic Research.
    86. Pablo Aguilar & Jesús Vázquez, 2018. "Term structure and real-time learning," Working Papers 1803, Banco de España.
    87. Zhang, Renbin & Zhang, Tongbin, 2025. "The AH premium: A tale of “siamese twin” stocks," Journal of Empirical Finance, Elsevier, vol. 81(C).
    88. Mauersberger, Felix, 2019. "Thompson Sampling: Endogenously Random Behavior in Games and Markets," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203600, Verein für Socialpolitik / German Economic Association.
    89. Miura, Shogo, 2023. "Households’ assets, sentiment shocks and business cycles," Economic Modelling, Elsevier, vol. 118(C).

  20. Klaus Adam & Albert Marcet, 2011. "Booms and Busts in Asset Prices," CEP Discussion Papers dp1059, Centre for Economic Performance, LSE.

    Cited by:

    1. Klaus Adam & Pei Kuang & Albert Marcet, 2011. "House Price Booms and the Current Account," NBER Working Papers 17224, National Bureau of Economic Research, Inc.
    2. Pei Kuang, 2013. "Imperfect Knowledge About Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    3. Adam, Klaus & Marcet, Albert & Nicolini, Juan Pablo, 2011. "Stock market volatility and learning," LSE Research Online Documents on Economics 121739, London School of Economics and Political Science, LSE Library.
    4. Volker Wieland & Christos Koulovatianos, 2011. "Asset Pricing under Rational Learning about Rare Disasters," 2011 Meeting Papers 1417, Society for Economic Dynamics.
    5. Klaus Adam & Albert Marcet, 2011. "Internal Rationality, Imperfect Market Knowledge and Asset Prices," CEP Discussion Papers dp1068, Centre for Economic Performance, LSE.
    6. Colin C. Caines, 2016. "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US Housing Boom," International Finance Discussion Papers 1181, Board of Governors of the Federal Reserve System (U.S.).
    7. Scheffknecht, Lukas & Geiger, Felix, 2011. "A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamcis," FZID Discussion Papers 37-2011, University of Hohenheim, Center for Research on Innovation and Services (FZID).
    8. Alessandro Spelta & Guido Ascari & Nicolò Pecora, 2012. "Boom and Burst in Housing Market with Heterogeneous Agents," Quaderni di Dipartimento 177, University of Pavia, Department of Economics and Quantitative Methods.
    9. Willi Semmler & Lucas Bernard, 2011. "Boom-Bust Cycles: Leveraging, Complex Securities, and Asset Prices," DEGIT Conference Papers c016_034, DEGIT, Dynamics, Economic Growth, and International Trade.
    10. Benhima, Kenza, 2019. "Booms and busts with dispersed information," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 32-47.
    11. Andreas Fuster & Benjamin Hebert & David Laibson, 2012. "Natural Expectations, Macroeconomic Dynamics, and Asset Pricing," NBER Macroeconomics Annual, University of Chicago Press, vol. 26(1), pages 1-48.
    12. Bennani, T. & Després, M. & Dujardin, M. & Duprey, T. & Kelber, A., 2014. "Macroprudential framework:key questions applied to the French case," Occasional papers 9, Banque de France.
    13. Enders, Zeno & Hakenes, Hendrik Hakenes, 2014. "On the Existence and Prevention of Speculative Bubbles," Working Papers 0567, University of Heidelberg, Department of Economics.
    14. Hommes, C.H. & Zhu, M., 2012. "Behavioral Learning Equilibria," CeNDEF Working Papers 12-09, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    15. Broer, Tobias & Kero, Afroditi, 2011. "Great Moderation or Great Mistake: Can rising confidence in low macro-risk explain the boom in asset prices?," CEPR Discussion Papers 8700, C.E.P.R. Discussion Papers.
    16. Sophie van Huellen, 2013. "Price Non-Convergence in Commodities: A Case Study of the Wheat Conundrum," Working Papers 185, Department of Economics, SOAS University of London, UK.
    17. Sögner, Leopold, 2015. "Learning, convergence and economic constraints," Mathematical Social Sciences, Elsevier, vol. 75(C), pages 27-43.
    18. Volha Audzei, 2015. "Information Acquisition and Excessive Risk: Impact of Policy Rate and Market Volatility," CERGE-EI Working Papers wp536, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    19. Blake LeBaron, 2010. "Heterogeneous Gain Learning and Long Swings in Asset Prices," Working Papers 10, Brandeis University, Department of Economics and International Business School.

  21. Klaus Adam & Pei Kuang & Albert Marcet, 2011. "House Price Booms and the Current Account," CEP Discussion Papers dp1064, Centre for Economic Performance, LSE.

    Cited by:

    1. Wilko Bolt & Maria Demertzis & Cees Diks & Cars Hommes & Marco van der Leij, 2014. "Identifying Booms and Busts in House Prices under Heterogeneous Expectations," European Economy - Economic Papers 2008 - 2015 540, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    2. Sophie Piton, 2018. "Do Unit Labor Costs Matter? A Decomposition Exercise on European Data," Working Papers halshs-01785345, HAL.
    3. Andrea Gazzani, 2020. "News and noise bubbles in the housing market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 46-72, April.
    4. Enrique G. Mendoza & Emine Boz, 2009. "Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis," 2009 Meeting Papers 1273, Society for Economic Dynamics.
    5. Kuang, Pei, 2014. "A model of housing and credit cycles with imperfect market knowledge," European Economic Review, Elsevier, vol. 70(C), pages 419-437.
    6. Daniel L. Tortorice, 2014. "Equity Return Predictability, Time Varying Volatility and Learning About the Permanence of Shocks," Working Papers 70, Brandeis University, Department of Economics and International Business School.
    7. Patrick A. Pintus & Jacek Suda, 2013. "Learning Financial Shocks and the Great Recession," AMSE Working Papers 1333, Aix-Marseille School of Economics, France, revised 05 Jun 2013.
    8. Franjo, Luis, 2018. "International interest rates, the current account and housing markets," Economic Modelling, Elsevier, vol. 75(C), pages 268-280.
    9. Hui An & Lijie Yu & Rakesh Gupta, 2016. "Capital Inflows and House Prices: Aggregate and Regional Evidence from China," Australian Economic Papers, Wiley Blackwell, vol. 55(4), pages 451-475, December.
    10. Paolo Gelain & Kevin J. Lansing, 2013. "House prices, expectations, and time-varying fundamentals," Working Paper 2013/05, Norges Bank.
    11. Pei Kuang, 2013. "Imperfect Knowledge About Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    12. Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013. "The Effects of the Saving and Banking Glut on the U.S. Economy," NBER Chapters, in: NBER International Seminar on Macroeconomics 2013, pages 52-67, National Bureau of Economic Research, Inc.
    13. Andrea Ferrero, 2012. "House price booms, current account deficits, and low interest rates," Staff Reports 541, Federal Reserve Bank of New York.
    14. Luisa Lambertini & Caterina Mendicino & Maria Teresa Punzi, 2011. "Leaning Against Boom-Bust Cycles in Credit and Housing Prices," Working Papers 201101, Center for Fiscal Policy, Swiss Federal Institute of Technology Lausanne, revised Mar 2011.
    15. Mayer, Eric & Maas, Daniel & Rüth, Sebastian, 2016. "Current Account Dynamics and the Housing Cycle in Spain," VfS Annual Conference 2016 (Augsburg): Demographic Change 145824, Verein für Socialpolitik / German Economic Association.
    16. J. Andrés & J. E. Boscá & J. Ferri, 2015. "Household Debt and Fiscal Multipliers," Economica, London School of Economics and Political Science, vol. 82, pages 1048-1081, December.
    17. Pierre-Olivier Gourinchas & Hélène Rey, 2013. "External Adjustment, Global Imbalances and Valuation Effects," NBER Working Papers 19240, National Bureau of Economic Research, Inc.
    18. Sandra Gomes, 2011. "Housing Market Dynamics: Any News?," Working Papers w201121, Banco de Portugal, Economics and Research Department.
    19. Pedro Gete, 2015. "Housing demands, savings gluts and current account dynamics," Globalization Institute Working Papers 221, Federal Reserve Bank of Dallas.
    20. Adam, Klaus & Woodford, Michael, 2021. "Robustly optimal monetary policy in a new Keynesian model with housing," Journal of Economic Theory, Elsevier, vol. 198(C).
    21. Jørgensen, Peter Lihn, 2023. "The global savings glut and the housing boom," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    22. Luisa Lambertini & Caterina Mendicino & Maria Teresa Punzi, 2012. "Expectations-Driven Cycles in the Housing Market," Discussion Papers 12/08, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    23. Giorgio Primiceri & Andrea Tambalotti & Alejandro Justiniano, 2014. "Credit Supply and the Housing Boom," 2014 Meeting Papers 766, Society for Economic Dynamics.
    24. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2012. "House prices, credit growth, and excess volatility: implications for monetary and macroprudential policy," Working Paper Series 2012-11, Federal Reserve Bank of San Francisco.
    25. Klaus Adam & Michael Woodford, 2018. "Leaning Against Housing Prices as Robustly Optimal Monetary Policy," NBER Working Papers 24629, National Bureau of Economic Research, Inc.
    26. Eleonora Granziera & Sharon Kozicki, 2012. "House Price Dynamics: Fundamentals and Expectations," Staff Working Papers 12-12, Bank of Canada.
    27. Glaeser, Edward L. & Nathanson, Charles G., 2017. "An extrapolative model of house price dynamics," Journal of Financial Economics, Elsevier, vol. 126(1), pages 147-170.
    28. Gourinchas, Pierre-Olivier & Rey, Hélène, 2014. "External Adjustment, Global Imbalances, Valuation Effects," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 585-645, Elsevier.
    29. Rots, Eyno, 2017. "Imperfect information and the house price in a general-equilibrium model," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 215-231.
    30. Vedanta Dhamija & Ricardo Nunes & Roshni Tara, 2025. "House Price Expectations and Inflation Expectations: Evidence from Survey Data," Economics Series Working Papers 1069, University of Oxford, Department of Economics.
    31. Kuang, Pei & Mitra, Kaushik, 2016. "Long-run growth uncertainty," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 67-80.
    32. Bielskis, Karolis & Lastauskas, Povilas, 2024. "The role of housing market and credit on household consumption dynamics: Evidence from the OECD countries," Journal of Economic Behavior & Organization, Elsevier, vol. 228(C).
    33. Joshua Aizenman & Yothin Jinjarak, 2013. "Real Estate Valuation, Current Account and Credit Growth Patterns, Before and After the 2008-9 Crisis," NBER Working Papers 19190, National Bureau of Economic Research, Inc.
    34. Caines, Colin & Winkler, Fabian, 2021. "Asset price beliefs and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 53-67.
    35. Maas, Daniel & Mayer, Eric & Rüth, Sebastian, 2015. "Current account dynamics and the housing boom and bust cycle in Spain," W.E.P. - Würzburg Economic Papers 94, University of Würzburg, Department of Economics.
    36. Callum Jones & Mr. Pau Rabanal, 2021. "Credit Cycles, Fiscal Policy, and Global Imbalances," IMF Working Papers 2021/043, International Monetary Fund.
    37. José Daniel Aromí, 2021. "Large Current Account Deficits and Neglected Vulnerabilities," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(4), pages 597-623, December.
    38. Geerolf, François & Grjebine, Thomas, 2013. "House Prices Drive Current Accounts: Evidence from Property Tax Variations," CEPREMAP Working Papers (Docweb) 1315, CEPREMAP.
    39. Jengei Hong & Doojin Ryu, 2023. "Expectations and the housing market: A model of house price dynamics," Bulletin of Economic Research, Wiley Blackwell, vol. 75(4), pages 1242-1266, October.
    40. Ellison, Martin & Macaulay, Alistair, 2019. "A Rational Inattention Unemployment Trap," CEPR Discussion Papers 13761, C.E.P.R. Discussion Papers.
    41. Hoffmann, Mathias & Krause, Michael U. & Laubach, Thomas, 2012. "Trend growth expectations and US house prices before and after the crisis," Discussion Papers 12/2012, Deutsche Bundesbank.
    42. Colin C. Caines, 2016. "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US Housing Boom," International Finance Discussion Papers 1181, Board of Governors of the Federal Reserve System (U.S.).
    43. F. Di Pace & K. Mitra & S. Zhang, 2021. "Adaptive Learning and Labor Market Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(2-3), pages 441-475, March.
    44. Jack Favilukis & David Kohn & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2012. "International Capital Flows and House Prices: Theory and Evidence," NBER Chapters, in: Housing and the Financial Crisis, pages 235-299, National Bureau of Economic Research, Inc.
    45. Philip Lane & Peter McQuade, 2013. "Domestic Credit Growth and International Capital Flows," The Institute for International Integration Studies Discussion Paper Series iiisdp428, IIIS.
    46. in 't Veld, Jan & Kollmann, Robert & Pataracchia, Beatrice & Ratto, Marco & Roeger, Werner, 2014. "International capital flows and the boom-bust cycle in Spain," Journal of International Money and Finance, Elsevier, vol. 48(PB), pages 314-335.
    47. Peter Tillmann, 2012. "Capital Inflows and Asset Prices: Evidence from Emerging Asia," MAGKS Papers on Economics 201215, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    48. Paolo Gelain & Kevin J. Lansing & Gisle J. Natvik, 2018. "Explaining the Boom–Bust Cycle in the U.S. Housing Market: A Reverse‐Engineering Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1751-1783, December.
    49. Monika Piazzesi & Martin Schneider, 2016. "Housing and Macroeconomics," NBER Working Papers 22354, National Bureau of Economic Research, Inc.
    50. Glaeser, Edward L. & Nathanson, Charles G., 2015. "An Extrapolative Model of House Price Dynamics," Working Paper Series rwp15-012, Harvard University, John F. Kennedy School of Government.
    51. Joseph L. Breeden & Jose J. Canals-Cerda, 2016. "Consumer risk appetite, the credit cycle, and the housing bubble," Working Papers 16-5, Federal Reserve Bank of Philadelphia.
    52. Kuang, Pei & Yao, Yao, 2017. "Are rational explosive solutions learnable?," Economics Letters, Elsevier, vol. 157(C), pages 62-66.
    53. Zhang, Tongbin, 2021. "Stock prices and the risk-free rate: An internal rationality approach," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    54. Alejandro Jara & Eduardo Olaberría, 2013. "Are all Capital Inflows Associated with Booms in House Prices? An Empirical Evaluation," Working Papers Central Bank of Chile 696, Central Bank of Chile.
    55. Ambrogio Cesa-Bianchi & Mr. Luis Felipe Céspedes & Mr. Alessandro Rebucci, 2015. "Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies," IMF Working Papers 2015/023, International Monetary Fund.
    56. Alexander N. Bogin & Stephen D. Bruestle & William M. Doerner, 2017. "How Low Can House Prices Go? Estimating a Conservative Lower Bound," The Journal of Real Estate Finance and Economics, Springer, vol. 54(1), pages 97-116, January.
    57. Daniel L. Tortorice, 2019. "Long-Run Expectations, Learning and the US Housing Market," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(4), pages 497-531, October.
    58. Obregon, Carlos, 2018. "Globalization misguided views," MPRA Paper 85813, University Library of Munich, Germany.
    59. Pei Kuang & Li Tang & Renbin Zhang & Tongbin Zhang, 2025. "Are survey stock price forecasts anchored by fundamental forecasts? A long-run perspective," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 79(2), pages 657-685, March.
    60. Eduardo Olaberría, 2014. "Capital Inflows and Booms in Asset Prices: Evidence from a Panel of Countries," Central Banking, Analysis, and Economic Policies Book Series, in: Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart (ed.),Capital Mobility and Monetary Policy, edition 1, volume 18, chapter 8, pages 255-290, Central Bank of Chile.
    61. Zhang, Tongbin, 2014. "Stock Price, Real Riskless Interest Rate and Learning," MPRA Paper 57090, University Library of Munich, Germany.
    62. Miao, Jianjun & Wang, Pengfei & Zhou, Jing, 2015. "Asset bubbles, collateral, and policy analysis," Journal of Monetary Economics, Elsevier, vol. 76(S), pages 57-70.
    63. Esteban Gómez & Andrés Murcia Pabón & Nancy Zamudio Gómez, 2013. "Foreign Debt Flows and Domestic Credit: A Principal-Agent Approach," Temas de Estabilidad Financiera 075, Banco de la Republica de Colombia.
    64. Edward L. Glaeser & Charles G. Nathanson, 2015. "An Extrapolative Model of House Price Dynamics," NBER Working Papers 21037, National Bureau of Economic Research, Inc.
    65. Margaret M. Jacobson, 2022. "Beliefs, Aggregate Risk, and the U.S. Housing Boom," Finance and Economics Discussion Series 2022-061r1, Board of Governors of the Federal Reserve System (U.S.), revised 31 Jan 2025.
    66. Obregon, Carlos, 2018. "Globalización visiones equivocadas [Globalization misguided views]," MPRA Paper 86396, University Library of Munich, Germany.
    67. Aizenman, Joshua, 2019. "A modern reincarnation of Mundell-Fleming's trilemma," Economic Modelling, Elsevier, vol. 81(C), pages 444-454.
    68. Sophie Piton, 2017. "Economic Integration and the Non-tradable Sector: The European Experience," 2017 Papers ppi361, Job Market Papers.
    69. Adam, Klaus & Pfäuti, Oliver & Reinelt, Timo, 2022. "Subjective Housing Price Expectations, Falling Natural Rates and the Optimal Inflation Target," CEPR Discussion Papers 17187, C.E.P.R. Discussion Papers.
    70. Pascal Towbin & Mr. Sebastian Weber, 2015. "Price Expectations and the U.S. Housing Boom," IMF Working Papers 2015/182, International Monetary Fund.
    71. Shahrier, Nur Ain & Anwer, Zaheer & Hassan, M. Kabir, 2023. "Do different streams of capital flows affect asset prices differently?," Global Finance Journal, Elsevier, vol. 57(C).
    72. Canepa, Alessandra & Alqaralleh, Huthaifa, 2019. "Housing Market Cycles in Large Urban Areas," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201903, University of Turin.
    73. Carlos Garriga & Aaron Hedlund, 2019. "Crises in the Housing Market: Causes, Consequences, and Policy Lessons," Working Papers 2019-33, Federal Reserve Bank of St. Louis.
    74. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2014. "Mehr Vertrauen in Marktprozesse. Jahresgutachten 2014/15 [More confidence in market processes. Annual Report 2014/15]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201415.
    75. Colin C. Caines & Fabian Winkler, 2018. "Asset Price Learning and Optimal Monetary Policy," International Finance Discussion Papers 1236, Board of Governors of the Federal Reserve System (U.S.).
    76. Giorgio Primiceri & Andrea Tambalotti & Alejandro Justiniano, 2013. "Household Debt and Foreign Capital Flows," 2013 Meeting Papers 964, Society for Economic Dynamics.
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    82. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
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    102. Lars Peter Hansen, 2017. "Comment on "Survey Measurement of Probabilistic Economic Expectations: Progress and Promise"," NBER Chapters, in: NBER Macroeconomics Annual 2017, volume 32, pages 479-489, National Bureau of Economic Research, Inc.
    103. Alejandro Jara & Eduardo Olaberría, 2017. "¿Todos los flujos de capitales están asociados a auges de los precios de las viviendas? Evaluación empírica," Investigación Conjunta-Joint Research, in: Gerardo Licandro & Jorge Ponce (ed.), Precios de activos internos, fundamentos globales y estabilidad financiera, edition 1, volume 1, chapter 3, pages 79-116, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    104. Carmen Silva & Camilo Vio, 2015. "Housing prices and macroeconomic factors: evidence from Chile," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(1), pages 4-24, April.
    105. Filipa Sá & Tomasz Wieladek, 2015. "Capital Inflows and the U.S. Housing Boom," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 221-256, March.
    106. Mr. Steven T Phillips & Mr. Luis Catão & Mr. Luca A Ricci & Mr. Rudolfs Bems & Ms. Mitali Das & Mr. Julian Di Giovanni & Ms. Filiz D Unsal & Marola Castillo & Jungjin Lee & Jair Rodriguez & Mr. Mauric, 2013. "The External Balance Assessment (EBA) Methodology," IMF Working Papers 2013/272, International Monetary Fund.
    107. Zhang, Renbin & Zhang, Tongbin, 2025. "The AH premium: A tale of “siamese twin” stocks," Journal of Empirical Finance, Elsevier, vol. 81(C).
    108. Pei Kuang & Kaushik Mitra, 2022. "Potential Output Pessimism and Austerity in the European Union," Discussion Papers 22-08, Department of Economics, University of Birmingham.
    109. Luis Franjo, 2015. "International Interest Rates and Housing Markets," Working Papers 201501, Center for Fiscal Policy, Swiss Federal Institute of Technology Lausanne, revised Feb 2015.
    110. Blanka ŠKRABIĆ PERIĆ & Ana RIMAC SMILJANIĆ & Petar SORIĆ, 2022. "Confidence vs. Uncertainty : An Explanation of Housing Prices In the Old EU Member States," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 31-45, October.
    111. Rünstler, Gerhard & Balfoussia, Hiona & Burlon, Lorenzo & Buss, Ginters & Comunale, Mariarosaria & De Backer, Bruno & Dewachter, Hans & Guarda, Paolo & Haavio, Markus & Hindrayanto, Irma & Iskrev, Nik, 2018. "Real and financial cycles in EU countries - Stylised facts and modelling implications," Occasional Paper Series 205, European Central Bank.
    112. Aizenman, Joshua & Jinjarak, Yothin, 2013. "Real Estate Valuation, Current Account, and Credit Growth Patterns Before and After the 2008–2009 Crisis," ADBI Working Papers 429, Asian Development Bank Institute.

  22. Adam, Klaus, 2010. "Government Debt and Optimal Monetary and Fiscal Policy," CEPR Discussion Papers 8064, C.E.P.R. Discussion Papers.

    Cited by:

    1. Burgert, Matthias & Schmidt, Sebastian, 2013. "Dealing with a liquidity trap when government debt matters: optimal time-consistent monetary and fiscal policy," Working Paper Series 1622, European Central Bank.
    2. Virtue U. Ekhosuehi, 2021. "Optimal control of external debt for a developing economy," OPSEARCH, Springer;Operational Research Society of India, vol. 58(4), pages 889-905, December.
    3. Adam, Klaus & Billi, Roberto M., 2013. "Distortionary Fiscal Policy and Monetary Policy Goals," Working Paper Series 278, Sveriges Riksbank (Central Bank of Sweden).
    4. Swapan-Kumar Pradhan & Előd Takáts & Judit Temesvary, 2024. "How Does Fiscal Policy affect the Transmission of Monetary Policy into Cross-border Bank Lending? Cross-country Evidence," International Finance Discussion Papers 1400, Board of Governors of the Federal Reserve System (U.S.).
    5. Wei-han Liu, 2023. "Attaining stochastic optimal control over debt ratios in U.S. markets," Review of Quantitative Finance and Accounting, Springer, vol. 61(3), pages 967-993, October.
    6. Dong, Xiaojun & Yu, Xiaowen & Shi, Tao & Qiao, Dan, 2024. "Nexus between carbon emissions and local debt risk: Evidence from China's prefecture-level cities," International Review of Financial Analysis, Elsevier, vol. 93(C).
    7. Di Bartolomeo Giovanni & Saltari Enrico & Semmler Willi, 2022. "The effects of political short-termism on transitions induced by pollution regulations," wp.comunite 00154, Department of Communication, University of Teramo.
    8. Enrico Saltari & Willi Semmler & Giovanni Di Bartolomeo, 2021. "A Nash Equilibrium for Differential Games with Moving-horizon Strategies," Working Papers in Public Economics 197, Department of Economics and Law, Sapienza University of Roma.
    9. Hauptmeier, Sebastian & Kamps, Christophe & Radke, Lucas, 2022. "Counter-cyclical fiscal rules and the zero lower bound," Working Paper Series 2715, European Central Bank.
    10. Jean-Christophe Poutineau & Gauthier Vermandel, 2018. "Global banking and the conduct of macroprudential policy in a monetary union," Post-Print halshs-01525396, HAL.
    11. Horvath Michal, 2011. "Alternative Perspectives on Optimal Public Debt Adjustment," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-22, November.
    12. Giorgio Motta & Raffaele Rossi, 2018. "Optimal Fiscal Policy with Consumption Taxation," Centre for Growth and Business Cycle Research Discussion Paper Series 239, Economics, The University of Manchester.
    13. Di Bartolomeo Giovanni & Di Pietro Marco & Semmler Willi, 2017. "Public debt stabilization: The relevance of policymakers’ time horizons," wp.comunite 00135, Department of Communication, University of Teramo.
    14. Adam, Klaus, 2012. "Optimal Sovereign Default," CEPR Discussion Papers 9178, C.E.P.R. Discussion Papers.
    15. Jean-Marc Fournier, 2019. "A Buffer-Stock Model for the Government: Balancing Stability and Sustainability," IMF Working Papers 2019/159, International Monetary Fund.
    16. Intan Syahrini & Yusri Hazmi & Raja Masbar & Aliasuddin & Said Munzir, 2021. "Optimal Control Dynamic Relationships and Fiscal Policies in Indonesia’s Economy," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 34-51.
    17. Taisuke Nakata, 2016. "Online Appendix to "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis"," Online Appendices 15-154, Review of Economic Dynamics.
    18. Ahmad Danu Prasetyo & Naoyuki Yoshino, 2013. "Improving the Government Debt Market Quality by Determining the Optimal Structure of Government Debt Portfolio," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-038, Keio/Kyoto Joint Global COE Program.
    19. Luis Felipe Céspedes & Jordi Galí, 2013. "Fiscal Policy and Macroeconomic Performance: An Overview," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Jordi Galí (ed.),Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 1, pages 01-25, Central Bank of Chile.
    20. Michael Grill & Klaus Adam, 2012. "Optimal Sovereign Debt Default," 2012 Meeting Papers 882, Society for Economic Dynamics.
    21. Chen, Wen & Zhu, Yufeng & He, Zehui & Yang, Yang, 2022. "The effect of local government debt on green innovation: Evidence from Chinese listed companies," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
    22. Mackowiak, Bartosz & Corsetti, Giancarlo & Dedola, Luca & Schmidt, Sebastian & Jarocinski, Marek, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, C.E.P.R. Discussion Papers.
    23. Giorgio Motta & Raffaele Rossi, 2013. "Ramsey monetary and fiscal policy: the role of consumption taxation," Working Papers 44449031, Lancaster University Management School, Economics Department.
    24. David S. Miller, 2019. "Optimal Structure of Fiscal and Monetary Authorities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 289-312, March.
    25. Francesco Caprioli & Pietro Rizza & Pietro Tommasino, 2011. "Optimal Fiscal Policy when Agents Fear Government Default," Revue économique, Presses de Sciences-Po, vol. 62(6), pages 1031-1043.
    26. Hauptmeier, Sebastian & Kamps, Christophe, 2022. "Debt policies in the aftermath of COVID-19 — The SGP’s debt benchmark revisited," European Journal of Political Economy, Elsevier, vol. 75(C).
    27. Corsetti, G. & Dedola, L. & Jarocinsk, M. & Mackowiak, B., 2016. "Macroeconomic Stabilization, Monetary-fiscal Interactions, and Europe’s monetary Union," Cambridge Working Papers in Economics 1675, Faculty of Economics, University of Cambridge.
    28. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    29. Rieth, Malte, 2014. "Myopic governments and welfare-enhancing debt limits," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 250-265.
    30. Zhuo Jin, 2015. "Optimal Debt Ratio and Consumption Strategies in Financial Crisis," Journal of Optimization Theory and Applications, Springer, vol. 166(3), pages 1029-1050, September.
    31. Taisuke Nakata, 2015. "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis," Finance and Economics Discussion Series 2015-38, Board of Governors of the Federal Reserve System (U.S.).
    32. Malte Rieth, 2017. "Capital Taxation and Government Debt Policy with Public Discounting," Discussion Papers of DIW Berlin 1697, DIW Berlin, German Institute for Economic Research.
    33. Hauptmeier, Sebastian & Kamps, Christophe, 2020. "Debt rule design in theory and practice: the SGP’s debt benchmark revisited," Working Paper Series 2379, European Central Bank.
    34. Thomas Brand, 2017. "Vitesse et composition des ajustements budgétaires en équilibre général : une analyse appliquée à la zone euro," Revue économique, Presses de Sciences-Po, vol. 68(HS1), pages 159-182.
    35. Niemann, Stefan & Pichler, Paul, 2011. "Optimal fiscal and monetary policies in the face of rare disasters," European Economic Review, Elsevier, vol. 55(1), pages 75-92, January.
    36. Miller, David S., 2016. "Commitment versus discretion in a political economy model of fiscal and monetary policy interaction," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 17-29.
    37. Tang, Dapeng & Yang, Yiming & Zheng, Hao & Gebrehans, Mebrahtu Tesfagebreal, 2024. "Does reform policy of municipal bonds raise firm risk? A quasi-natural experiment from China," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    38. Shobande Olatunji Abdul & Shodipe Oladimeji Tomiwa, 2019. "New Keynesian Liquidity Trap and Conventional Fiscal Stance: An Estimated DSGE Model," Economics and Business, Sciendo, vol. 33(1), pages 152-169, January.

  23. Klaus Adam, 2010. "Optimal Monetary and Fiscal Stabilisation Policies," OECD Economics Department Working Papers 765, OECD Publishing.

    Cited by:

    1. Douglas Sutherland & Peter Hoeller & Balázs Égert & Oliver Röhn, 2010. "Counter-cyclical Economic Policy," OECD Economics Department Working Papers 760, OECD Publishing.

  24. Adam, Klaus & Billi, Roberto, 2010. "Distortionary fiscal policy and monetary policy goals," CEPR Discussion Papers 7741, C.E.P.R. Discussion Papers.

    Cited by:

    1. Tatiana Kirsanova & Campbell Leith & Ding Liu, 2024. "Central Bank Independence, Government Debt and the Re-Normalization of Interest Rates," Working Papers 2024_10, Business School - Economics, University of Glasgow.
    2. Adam, Klaus, 2011. "Government debt and optimal monetary and fiscal policy," European Economic Review, Elsevier, vol. 55(1), pages 57-74, January.
    3. Adam, Klaus & Billi, Roberto M., 2006. "Monetary conservatism and fiscal policy," Working Paper Series 663, European Central Bank.
    4. Cycon, Lisa & Koetter, Michael, 2015. "Monetary Policy under the Microscope: Intra-bank Transmission of Asset Purchase Programs of the ECB," IWH Discussion Papers 9/2015, Halle Institute for Economic Research (IWH).
    5. Paul Pichler & Gerhard Sorger & Stefan Niemann, 2011. "Public debt, discretionary policy, and inflation persistence," 2011 Meeting Papers 887, Society for Economic Dynamics.
    6. Niemann, S, 2009. "Dynamic Monetary-Fiscal Interactions and the Role of Monetary Conservatism," Economics Discussion Papers 2899, University of Essex, Department of Economics.
    7. Kick, Thomas & Koetter, Michael & Storz, Manuela, 2016. "Cross-border transmission of emergency liquidity," Discussion Papers 34/2016, Deutsche Bundesbank.
    8. Stefano Gnocchi & Luisa Lambertini, 2016. "Monetary Commitment and the Level of Public Debt," Staff Working Papers 16-3, Bank of Canada.
    9. Dimakou, Ourania, 2015. "Bureaucratic corruption and the dynamic interaction between monetary and fiscal policy," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 57-78.
    10. Elgin, Ceyhun & Yalaman, Abdullah & Yasar, Sezer & Basbug, Gokce, 2021. "Economic policy responses to the COVID-19 pandemic: The role of central bank independence," Economics Letters, Elsevier, vol. 204(C).
    11. Lieberknecht, Philipp, 2018. "Financial Frictions, the Phillips Curve and Monetary Policy," MPRA Paper 89429, University Library of Munich, Germany.
    12. Stefano Gnocchi, 2013. "Monetary Commitment and Fiscal Discretion: The Optimal Policy Mix," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(2), pages 187-216, April.
    13. Taisuke Nakata & Sebastian Schmidt, 2015. "Conservatism and Liquidity Traps," Working Papers e101, Tokyo Center for Economic Research.
    14. Dimakou, Ourania, 2013. "Monetary and fiscal institutional designs," Journal of Comparative Economics, Elsevier, vol. 41(4), pages 1141-1166.
    15. Flores Unzaga, Ismael Martin & Zhu, Junyi, 2014. "Bracket Creep Revisited: Progressivity and a Solution by Adjusting the Rich Tax in Germany," MPRA Paper 57664, University Library of Munich, Germany.
    16. Muhammad Ali Nasir & Alaa M. Soliman, 2014. "Aspects of Macroeconomic Policy Combinations and Their Effects on Financial Markets," Economic Issues Journal Articles, Economic Issues, vol. 19(1), pages 95-118, March.
    17. Ali Hussein Samadi & Afshin Montakhab & Hussein Marzban & Sakine Owjimehr, 2017. "Quantum Barro--Gordon Game in Monetary Economics," Papers 1708.05689, arXiv.org.
    18. Klaus Adam, 2010. "Optimal Monetary and Fiscal Stabilisation Policies," OECD Economics Department Working Papers 765, OECD Publishing.
    19. Samadi, Ali Hussein & Montakhab, Afshin & Marzban, Hussein & Owjimehr, Sakine, 2018. "Quantum Barro–Gordon game in monetary economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 489(C), pages 94-101.
    20. Niemann, Stefan & Pichler, Paul, 2011. "Optimal fiscal and monetary policies in the face of rare disasters," European Economic Review, Elsevier, vol. 55(1), pages 75-92, January.
    21. Roberto Billi & Klaus Adam, 2005. "Monetary and Fiscal Interactions without Commitment and the Value of Monetary Conservatism," Computing in Economics and Finance 2005 62, Society for Computational Economics.
    22. Miller, David S., 2016. "Commitment versus discretion in a political economy model of fiscal and monetary policy interaction," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 17-29.

  25. Marcet, Albert & Adam, Klaus, 2009. "Internal Rationality and Asset Prices," CEPR Discussion Papers 7498, C.E.P.R. Discussion Papers.

    Cited by:

    1. Klaus Adam & Albert Marcet, 2010. "Booms and Busts in Asset Prices," IMES Discussion Paper Series 10-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
    2. Hommes, C.H. & Zhu, M., 2012. "Behavioral Learning Equilibria," CeNDEF Working Papers 12-09, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.

  26. Albert Marcet & Klaus Adam & Juan Pablo Nicolini, 2008. "Stock Market Volatility and Learning," UFAE and IAE Working Papers 732.08, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).

    Cited by:

    1. Ashby, M. & Linton, O. B., 2022. "Do Consumption-based Asset Pricing Models Explain Own-history Predictability in Stock Market Returns?," Janeway Institute Working Papers 2226, Faculty of Economics, University of Cambridge.
    2. Mario Forni & Luca Gambetti & Marco Lippi & Luca Sala, 2017. "Noise Bubbles," Economic Journal, Royal Economic Society, vol. 127(604), pages 1940-1976, September.
    3. Kuang, Pei, 2014. "A model of housing and credit cycles with imperfect market knowledge," European Economic Review, Elsevier, vol. 70(C), pages 419-437.
    4. Eva Carceles Poveda & Chryssi Giannitsarou, 2006. "Asset pricing with adaptive learning," Computing in Economics and Finance 2006 25, Society for Computational Economics.
    5. Daniel L. Tortorice, 2014. "Equity Return Predictability, Time Varying Volatility and Learning About the Permanence of Shocks," Working Papers 70, Brandeis University, Department of Economics and International Business School.
    6. Paolo Gelain & Kevin J. Lansing, 2013. "House prices, expectations, and time-varying fundamentals," Working Paper 2013/05, Norges Bank.
    7. Pei Kuang, 2013. "Imperfect Knowledge About Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    8. William A. Branch & Nicolas Petrosky-Nadeau & Guillaume Rocheteau, 2014. "Financial Frictions, the Housing Market, and Unemployment," Working Paper Series 2014-26, Federal Reserve Bank of San Francisco.
    9. George Evans & Cars Hommes & Bruce McGough & Isabelle Salle, 2019. "Are Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments," Staff Working Papers 19-27, Bank of Canada.
    10. Marco Airaudo, 2012. "Complex Stock Price Dynamics and Recurrent Bubbles under the Spirit of Capitalism," DEGIT Conference Papers c017_036, DEGIT, Dynamics, Economic Growth, and International Trade.
    11. Adam, Klaus & Woodford, Michael, 2021. "Robustly optimal monetary policy in a new Keynesian model with housing," Journal of Economic Theory, Elsevier, vol. 198(C).
    12. Veldkamp, Laura & Kozeniauskas, Nicholas & Orlik, Anna, 2016. "What Are Uncertainty Shocks?," CEPR Discussion Papers 11501, C.E.P.R. Discussion Papers.
    13. Airaudo, Marco & Cardani, Roberta & Lansing, Kevin J., 2013. "Monetary policy and asset prices with belief-driven fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1453-1478.
    14. Chatterji, Shurojit & Kajii, Atsushi, 2023. "Decentralizability of efficient allocations with heterogeneous forecasts," Journal of Economic Theory, Elsevier, vol. 207(C).
    15. Adam, Klaus & Marcet, Albert & Nicolini, Juan Pablo, 2011. "Stock market volatility and learning," LSE Research Online Documents on Economics 121739, London School of Economics and Political Science, LSE Library.
    16. Kevin X.D. Huang & Zheng Liu & Tao Zha, 2008. "Learning, Adaptive Expectations, and Technology Shocks," Vanderbilt University Department of Economics Working Papers 0807, Vanderbilt University Department of Economics.
    17. Jean-Philippe Bouchaud & Roger Farmer, 2020. "Self-Fulfilling Prophecies, Quasi Non-Ergodicity and Wealth Inequality," Papers 2012.09445, arXiv.org, revised Apr 2022.
    18. Milani, Fabio, 2017. "Learning about the interdependence between the macroeconomy and the stock market," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 223-242.
    19. Elena Asparouhova & Peter Bossaerts & Nilanjan Roy & William Zame, 2016. "“Lucas” in the Laboratory," Journal of Finance, American Finance Association, vol. 71(6), pages 2727-2780, December.
    20. Klaus Adam & Dmitry Matveev & Stefan Nagel, 2018. "Do Survey Expectations of Stock Returns Reflect Risk-Adjustments?," NBER Working Papers 25122, National Bureau of Economic Research, Inc.
    21. Adam, Klaus & Marcet, Albert & Merkel, Sebastian & Beutel, Johannes, 2015. "Can a financial transaction tax prevent stock price booms?," Working Papers 15-10, University of Mannheim, Department of Economics.
    22. Winkler, Fabian, 2020. "The role of learning for asset prices and business cycles," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 42-58.
    23. Demirer, Riza & Yuksel, Aydin & Yuksel, Asli, 2020. "Oil price uncertainty, global industry returns and active investment strategies," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
    24. Kuang, Pei & Mitra, Kaushik, 2016. "Long-run growth uncertainty," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 67-80.
    25. Xiaohong Chen & Lars P. Hansen & Peter G. Hansen, 2020. "Robust Identification of Investor Beliefs," Cowles Foundation Discussion Papers 2236, Cowles Foundation for Research in Economics, Yale University.
    26. John Fender, 2020. "Beyond the efficient markets hypothesis: Towards a new paradigm," Bulletin of Economic Research, Wiley Blackwell, vol. 72(3), pages 333-351, July.
    27. Ahmad Hamidi, Hakimah Nur & Khalid, Norlin & Abdul Karim, Zulkefly, 2018. "Revisiting Relationship Between Malaysian Stock Market Index and Selected Macroeconomic Variables Using Asymmetric Cointegration," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(1), pages 311-319.
    28. Nakov, Anton & Nuño, Galo, 2014. "Learning from Experience in the Stock Market," CEPR Discussion Papers 9845, C.E.P.R. Discussion Papers.
    29. Caines, Colin & Winkler, Fabian, 2021. "Asset price beliefs and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 53-67.
    30. Nguyen, Quynh Nhu & Waters, George A., 2022. "Detecting periodically collapsing bubbles in the S&P 500," The Quarterly Review of Economics and Finance, Elsevier, vol. 83(C), pages 83-91.
    31. Mensi, Walid & Al Rababa'a, Abdel Razzaq & Alomari, Mohammad & Vo, Xuan Vinh & Kang, Sang Hoon, 2022. "Dynamic frequency volatility spillovers and connectedness between strategic commodity and stock markets: US-based sectoral analysis," Resources Policy, Elsevier, vol. 79(C).
    32. Sergio Santoro, 2017. "Heterogeneity and learning with complete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 183-211, June.
    33. Wang, Kaiyang & Yang, Haizhen, 2018. "The price-volume relationship caused by asset allocation based on Kelly criterion," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), pages 1-8.
    34. Scott, Andrew & Ellison, Martin, 2009. "Learning and Price Volatility in Duopoly Models of Resource Depletion," CEPR Discussion Papers 7378, C.E.P.R. Discussion Papers.
    35. Colin C. Caines, 2016. "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US Housing Boom," International Finance Discussion Papers 1181, Board of Governors of the Federal Reserve System (U.S.).
    36. Tan, Zhengxun & Tang, Qianqian & Meng, Juan, 2022. "The effect of monetary policy on China’s housing prices before and after 2017: A dynamic analysis in DSGE model," Land Use Policy, Elsevier, vol. 113(C).
    37. Orlando Gomes, 2008. "Local Learning Dynamics," Economics Bulletin, AccessEcon, vol. 3(57), pages 1-15.
    38. Gandré, Pauline, 2015. "Asset prices and information disclosure under recency-biased learning," CEPREMAP Working Papers (Docweb) 1515, CEPREMAP.
    39. Chevillon, Guillaume & Mavroeidis, Sophocles, 2017. "Learning can generate long memory," Journal of Econometrics, Elsevier, vol. 198(1), pages 1-9.
    40. Klaus Adam & Sebastian Merkel, 2019. "Stock Price Cycles and Business Cycles," CRC TR 224 Discussion Paper Series crctr224_2019_105, University of Bonn and University of Mannheim, Germany.
    41. Vivien Lewis & Agnieszka Markiewicz, 2009. "Model misspecification, learning and the exchange rate disconnect puzzle," Working Paper Research 168, National Bank of Belgium.
    42. Michele Berardi, 2018. "Information aggregation and learning in a dynamic asset pricing model," Centre for Growth and Business Cycle Research Discussion Paper Series 241, Economics, The University of Manchester.
    43. Orlando Gomes, 2008. "Stability under Learning: the Endogenous Growth Problem," Working Papers Series 1 ercwp1708, ISCTE-IUL, Business Research Unit (BRU-IUL).
    44. Li, Jinfang, 2022. "The sentiment pricing dynamics with short-term and long-term learning," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    45. Ziniu Hu & Weiqing Liu & Jiang Bian & Xuanzhe Liu & Tie-Yan Liu, 2017. "Listening to Chaotic Whispers: A Deep Learning Framework for News-oriented Stock Trend Prediction," Papers 1712.02136, arXiv.org, revised Feb 2019.
    46. Fredj Jawadi & Georges Prat, 2017. "Equity prices and fundamentals: a DDM–APT mixed approach," Review of Quantitative Finance and Accounting, Springer, vol. 49(3), pages 661-695, October.
    47. Felix Kubler & Simon Scheidegger, 2021. "Uniformly Self-Justified Equilibria," Papers 2112.14054, arXiv.org.
    48. Zhang, Tongbin, 2021. "Stock prices and the risk-free rate: An internal rationality approach," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    49. de Groot, Oliver & Richter, Alexander W. & Throckmorton, Nathaniel, 2020. "Valuation Risk Revalued," CEPR Discussion Papers 14588, C.E.P.R. Discussion Papers.
    50. Eva Carceles-Poveda & Chryssi Giannitsarou, 2007. "Online Appendix to Asset Pricing with Adaptive Learning," Online Appendices carceles08, Review of Economic Dynamics.
    51. Orlando Gomes, 2009. "Stability under learning: the neo-classical growth problem," Economics Bulletin, AccessEcon, vol. 29(4), pages 3186-3193.
    52. Detken, Carsten & Adalid, Ramón, 2007. "Liquidity shocks and asset price boom/bust cycles," Working Paper Series 732, European Central Bank.
    53. Bakshi, Gurdip & Skoulakis, Georgios, 2010. "Do subjective expectations explain asset pricing puzzles?," Journal of Financial Economics, Elsevier, vol. 98(3), pages 462-477, December.
    54. Pei Kuang & Li Tang & Renbin Zhang & Tongbin Zhang, 2025. "Are survey stock price forecasts anchored by fundamental forecasts? A long-run perspective," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 79(2), pages 657-685, March.
    55. Roger Farmer & Jean-Philippe Bouchaud, 2020. "Self-Fulfilling Prophecies, Quasi Non-Ergodicity & Wealth Inequality," NBER Working Papers 28261, National Bureau of Economic Research, Inc.
    56. Zhang, Tongbin, 2014. "Stock Price, Real Riskless Interest Rate and Learning," MPRA Paper 57090, University Library of Munich, Germany.
    57. Michele Berardi, 2015. "Prices, fundamental values and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 214, Economics, The University of Manchester.
    58. Branch, William A., 2016. "Imperfect knowledge, liquidity and bubbles," Journal of Economic Dynamics and Control, Elsevier, vol. 62(C), pages 17-42.
    59. Zhang, Wei & Zhou, Zhong-Qiang & Xiong, Xiong, 2019. "Behavioral heterogeneity and excess stock price volatility in China," Finance Research Letters, Elsevier, vol. 28(C), pages 348-354.
    60. Yan, Ruzhen & Yue, Ding & Chen, Xudong & Wu, Xu, 2020. "Non-linear characterization and trend identification of liquidity in China's new OTC stock market based on multifractal detrended fluctuation analysis," Chaos, Solitons & Fractals, Elsevier, vol. 139(C).
    61. Michele Berardi, 2016. "Endogenous time-varying risk aversion and asset returns," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 581-601, July.
    62. Saffet Akdag & Ömer İskenderoglu & Andrew Adewale Alola, 2020. "The volatility spillover effects among risk appetite indexes: insight from the VIX and the rise," Letters in Spatial and Resource Sciences, Springer, vol. 13(1), pages 49-65, April.
    63. Gomes, Orlando, 2009. "Adaptive learning and complex dynamics," Chaos, Solitons & Fractals, Elsevier, vol. 42(2), pages 1206-1213.
    64. Souropanis, Ioannis & Vivian, Andrew, 2023. "Forecasting realized volatility with wavelet decomposition," Journal of Empirical Finance, Elsevier, vol. 74(C).
    65. Michele Berardi, 2016. "Herding through learning in an asset pricing model," Centre for Growth and Business Cycle Research Discussion Paper Series 223, Economics, The University of Manchester.
    66. Jia, Fei & Shen, Yao & Ren, Junfan & Xu, Xiangyun, 2021. "The impact of offshore exchange rate expectations on onshore exchange rates: The case of Chinese RMB," The North American Journal of Economics and Finance, Elsevier, vol. 56(C).
    67. Shuo Sun & Rundong Wang & Bo An, 2022. "Quantitative Stock Investment by Routing Uncertainty-Aware Trading Experts: A Multi-Task Learning Approach," Papers 2207.07578, arXiv.org.
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    98. Bask, Mikael, 2009. "Monetary Policy, Stock Price Misalignments and Macroeconomic Instability," Working Papers 540, Hanken School of Economics.
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    103. Juselius, Katarina & Stillwagon, Josh R., 2018. "Are outcomes driving expectations or the other way around? An I(2) CVAR analysis of interest rate expectations in the dollar/pound market," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 93-105.
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    105. Ruzhen Yan & Ding Yue & Xu Wu & Wei Gao, 2023. "Multiscale Multifractal Detrended Fluctuation Analysis and Trend Identification of Liquidity in the China's Stock Markets," Computational Economics, Springer;Society for Computational Economics, vol. 61(2), pages 487-511, February.
    106. Lv, Wendai & Qi, Jipeng & Feng, Jing, 2023. "Economic policy uncertainty and environmental governance company volatility: Evidence from China," Research in International Business and Finance, Elsevier, vol. 64(C).
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    109. Abdullah Alqahtani, 2019. "Do Global Financial, Oil and Gold Volatility Shocks Affect the GCC Stock Markets?," Emerging Economy Studies, International Management Institute, vol. 5(2), pages 157-175, November.
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    112. King, Daniel & Botha, Ferdi, 2015. "Modelling stock return volatility dynamics in selected African markets," Economic Modelling, Elsevier, vol. 45(C), pages 50-73.
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    114. Radke, Lucas & Wicknig, Florian, 2021. "Experience-Based Heterogeneity in Expectations and Monetary Policy," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242414, Verein für Socialpolitik / German Economic Association.
    115. Marquardt, Philipp & Noussair, Charles N & Weber, Martin, 2019. "Rational expectations in an experimental asset market with shocks to market trends," European Economic Review, Elsevier, vol. 114(C), pages 116-140.
    116. Mikhail Anufriev & Cars Hommes, 2012. "Evolutionary Selection of Individual Expectations and Aggregate Outcomes in Asset Pricing Experiments," American Economic Journal: Microeconomics, American Economic Association, vol. 4(4), pages 35-64, November.
    117. Qinkai Chen & Christian-Yann Robert, 2021. "Graph-Based Learning for Stock Movement Prediction with Textual and Relational Data," Papers 2107.10941, arXiv.org, revised Dec 2021.
    118. Alexander Zimper, 2011. "Do Bayesians Learn Their Way Out of Ambiguity?," Decision Analysis, INFORMS, vol. 8(4), pages 269-285, December.
    119. Gareth Lui-Evans & Shalini Mitra, 2019. "Informality and Bank Stability," Working Papers 201903, University of Liverpool, Department of Economics.
    120. Marco Airaudo, 2017. "Complex stock price dynamics under Max Weber’s spirit of capitalism hypothesis," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 47-73, June.
    121. Berardi, Michele, 2021. "Uncertainty, sentiments and time-varying risk premia," MPRA Paper 106922, University Library of Munich, Germany.
    122. Beker, Pablo F. & Espino, Emilio, 2013. "Too Good to Be True: Asset Pricing Implications of Pessimism," Economic Research Papers 270428, University of Warwick - Department of Economics.
    123. George A. Waters, 2011. "Endogenous Rational Bubbles," Working Paper Series 20111003, Illinois State University, Department of Economics.
    124. Elias, Christopher J., 2016. "Asset pricing with expectation shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 65(C), pages 68-82.
    125. Xiao Yang & Weiqing Liu & Dong Zhou & Jiang Bian & Tie-Yan Liu, 2020. "Qlib: An AI-oriented Quantitative Investment Platform," Papers 2009.11189, arXiv.org.
    126. Katsuhiro Oshima, 2019. "Heterogeneous Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1013, Kyoto University, Institute of Economic Research.
    127. Mingchen Li & Kun Yang & Wencan Lin & Yunjie Wei & Shouyang Wang, 2024. "An interval constraint-based trading strategy with social sentiment for the stock market," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-31, December.
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  27. Guido Lorenzoni, 2006. "Demand Shocks and Monetary Policy," Computing in Economics and Finance 2006 524, Society for Computational Economics.

    Cited by:

    1. Guido Lorenzoni, 2006. "A Theory of Demand Shocks," NBER Working Papers 12477, National Bureau of Economic Research, Inc.
    2. Antonella Tutino, 2008. "The rigidity of choice: Lifecycle savings with information-processing limits," Finance and Economics Discussion Series 2008-62, Board of Governors of the Federal Reserve System (U.S.).
    3. University of California & Giacomo Rondina, 2008. "Incomplete Information and Informative Pricing: Theory and Application," 2008 Meeting Papers 981, Society for Economic Dynamics.

  28. Adam, Klaus & Billi, Roberto, 2006. "Monetary Conservatism and Fiscal Policy," CEPR Discussion Papers 5740, C.E.P.R. Discussion Papers.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
    2. Tatiana Kirsanova & Campbell Leith & Ding Liu, 2024. "Central Bank Independence, Government Debt and the Re-Normalization of Interest Rates," Working Papers 2024_10, Business School - Economics, University of Glasgow.
    3. Tatiana Kirsanova & Campbell Leith & Simon Wren-Lewis, 2009. "Monetary and Fiscal Policy Interaction: The Current Consensus Assignment in the Light of Recent Developments," Economic Journal, Royal Economic Society, vol. 119(541), pages 482-496, November.
    4. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2022. "Optimal Monetary Policy with and without Debt," LIDAM Discussion Papers IRES 2022027, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    5. Adam, Klaus, 2011. "Government debt and optimal monetary and fiscal policy," European Economic Review, Elsevier, vol. 55(1), pages 57-74, January.
    6. Linde, Jesper & Erceg, Christopher, 2010. "Is There a Fiscal Free Lunch in a Liquidity Trap?," CEPR Discussion Papers 7624, C.E.P.R. Discussion Papers.
    7. Alfred Duncan & Charles Nolan, 2017. "Disputes, Debt and Equity," Studies in Economics 1716, School of Economics, University of Kent.
    8. Adam, Klaus & Billi, Roberto M., 2013. "Distortionary Fiscal Policy and Monetary Policy Goals," Working Paper Series 278, Sveriges Riksbank (Central Bank of Sweden).
    9. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    10. Antoine Camous & Dmitry Matveev, 2023. "The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence," The Economic Journal, Royal Economic Society, vol. 133(649), pages 1-29.
    11. Jan Libich & Dat Thanh Nguyen & Petr Stehlík, 2011. "Monetary Exit Strategy and Fiscal Spillovers," CAMA Working Papers 2011-04, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    12. Hubert Kempf & Von Thadden, L., 2008. "On policy interactions among nations: when do cooperation and commitment matter ?," Working papers 196, Banque de France.
    13. Fernando M. Martin, 2013. "Debt, inflation and central bank independence," Working Papers 2013-017, Federal Reserve Bank of St. Louis.
    14. Paul Pichler & Gerhard Sorger & Stefan Niemann, 2011. "Public debt, discretionary policy, and inflation persistence," 2011 Meeting Papers 887, Society for Economic Dynamics.
    15. Karsten Staehr & Oļegs Tkačevs & Katri Urke, 2024. "Fiscal performance under inflation and inflation surprises: evidence from fiscal reaction functions for the euro area," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 160(4), pages 1477-1504, November.
    16. Lemoine Matthieu & Jesper Lind, 2021. "Fiscal Stimulus in Liquidity Traps: Conventional or Unconventional Policies?," Working papers 799, Banque de France.
    17. Niemann, S, 2009. "Dynamic Monetary-Fiscal Interactions and the Role of Monetary Conservatism," Economics Discussion Papers 2899, University of Essex, Department of Economics.
    18. Stefan Niemann & Paul Pichler & Gerhard Sorger, 2013. "Central Bank Independence And The Monetary Instrument Problem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 1031-1055, August.
    19. Henrique S. Basso & James Costain, 2013. "Fiscal delegation in a monetary union with decentralized public spending," Working Papers 1311, Banco de España.
    20. Sebastian Schmidt, 2017. "Fiscal Activism and the Zero Nominal Interest Rate Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(4), pages 695-732, June.
    21. Vines, David & Kirsanova, Tatiana & Stehn, Sven Jari, 2006. "Five-Equation Macroeconomics: A Simple View of the Interactions Between Fiscal Policy and Monetary Policy," CEPR Discussion Papers 5464, C.E.P.R. Discussion Papers.
    22. Chen, Xiaoshan & Kirsanova, Tatiana & Leith, Campbell, 2014. "An Empirical Assessment of Optimal Monetary Policy Delegation in the Euro Area," Stirling Economics Discussion Papers 2014-11, University of Stirling, Division of Economics.
    23. Reicher, Claire, 2014. "Systematic fiscal policy and macroeconomic performance: A critical overview of the literature," Economics Discussion Papers 2014-29, Kiel Institute for the World Economy (IfW Kiel).
    24. Keiichi Morimoto, 2009. "Optimal Structure of Monetary Policy Committees," Discussion Papers in Economics and Business 09-36, Osaka University, Graduate School of Economics.
    25. Erceg, Christopher J. & Lindé, Jesper, 2013. "Fiscal consolidation in a currency union: Spending cuts vs. tax hikes," Journal of Economic Dynamics and Control, Elsevier, vol. 37(2), pages 422-445.
    26. Dumitriu, Ramona & Stefanescu, Razvan, 2013. "Provocările politicii monetare [Monetary policy challenges]," MPRA Paper 50261, University Library of Munich, Germany, revised 28 Sep 2013.
    27. Christopher J. Erceg & Jesper Lindé, 2011. "Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 7(1), pages 95-136.
    28. Christopher J. Erceg & Andrew T. Levin, 2014. "Labor Force Participation and Monetary Policy in the Wake of the Great Recession," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(S2), pages 3-49, October.
    29. Schnatz, Bernd, 2006. "Is reversion to PPP in euro exchange rates non-linear?," Working Paper Series 682, European Central Bank.
    30. Lieberknecht, Philipp, 2018. "Financial Frictions, the Phillips Curve and Monetary Policy," MPRA Paper 89429, University Library of Munich, Germany.
    31. Panagiotis Chronis & Aspassia Strantzalou, 2008. "Monetary and Fiscal Policy Interaction: What is the Role of the Transaction Cost of the Tax System in Stabilisation Policies?," Working Papers 71, Bank of Greece.
    32. Mihailov, Alexander & Ullrich, Katrin, 2007. "Independence and Accountability of Monetary and Fiscal Policy Committees," ZEW Discussion Papers 07-044, ZEW - Leibniz Centre for European Economic Research.
    33. Aleksandra Prascevic, 2012. "The Role Of Governement In Overcoming The Effects Of Global Economic Crisis In Serbia - Obstacles From The Past," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 137-155.
    34. Taisuke Nakata & Sebastian Schmidt, 2015. "Conservatism and Liquidity Traps," Working Papers e101, Tokyo Center for Economic Research.
    35. Kazeem Abimbola Sanusi & Zandri Dickason-Koekemoer, 2023. "Fiscal and Monetary Policies Interactions in Nigeria and South Africa: Dynamic Stochastic General Equilibrium Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 13(5), pages 21-31, September.
    36. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    37. Jan Libich & Petr Stehlík, 2012. "Monetary Policy Facing Fiscal Indiscipline under Generalized Timing of Actions," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 168(3), pages 393-431, September.
    38. Bluwstein, Kristina, 2017. "Asymmetric Macro-Financial Spillovers," Working Paper Series 337, Sveriges Riksbank (Central Bank of Sweden).
    39. Alice, Albonico & Lorenza, Rossi, 2017. "Inflation bias and markup shocks in a LAMP model with strategic interaction of monetary and fiscal policy," Working Papers 362, University of Milano-Bicocca, Department of Economics, revised 14 Feb 2017.
    40. Libich, Jan & Nguyen, Dat Thanh & Stehlík, Petr, 2015. "Monetary exit and fiscal spillovers," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 184-206.
    41. Demirel, Ufuk Devrim, 2012. "The value of monetary policy commitment under imperfect fiscal credibility," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 813-829.
    42. Andrew HUGHES HALLETT & Jan LIBICH & Petr STEHLÍK, 2014. "Monetary and Fiscal Policy Interaction with Various Degrees of Commitment," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 64(1), pages 2-29, February.
    43. David S. Miller, 2019. "Optimal Structure of Fiscal and Monetary Authorities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 289-312, March.
    44. Kim, Jeong-Yoo & Choi, Hyung Sun, 2023. "Monetary policy, fiscal policy and cross signal jamming," Journal of Macroeconomics, Elsevier, vol. 75(C).
    45. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    46. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    47. Matthew B. Canzoneri, 2007. "Coordination Of Monetary And Fiscal Policy In A Monetary Union: Policy Issues And Analytical Models," Manchester School, University of Manchester, vol. 75(s1), pages 21-43, September.
    48. Kolasa, Marcin & Brzoza-Brzezina, Michał & Jacquinot, Pascal, 2010. "Can we prevent boom-bust cycles during euro area accession?," Working Paper Series 1280, European Central Bank.
    49. Rosaria Rita Canale & Pasquale Foresti & Ugo Marani & Oreste Napolitano, 2008. "On keynesian effects of (apparent) non-keynesian fiscal policies," Politica economica, Società editrice il Mulino, issue 1, pages 5-46.
    50. Niemann, S & Pichler, P & Sorger, G, 2009. "Inflation dynamics under optimal discretionary fiscal and monetary policies," Economics Discussion Papers 2898, University of Essex, Department of Economics.
    51. Albonico, Alice, 2010. "Policy Games with Liquidity Constrained Consumers," MPRA Paper 25666, University Library of Munich, Germany.
    52. S. Gnocchi, 2007. "Discretionary Fiscal Policy and Optimal Monetary Policy in a Currency Area," Working Papers 602, Dipartimento Scienze Economiche, Universita' di Bologna.
    53. Jung, Alexander & Mongelli, Francesco, 2013. "Monetary policy decision-making when information search is costly," MPRA Paper 80517, University Library of Munich, Germany, revised 25 May 2016.
    54. Klaus Adam, 2010. "Optimal Monetary and Fiscal Stabilisation Policies," OECD Economics Department Working Papers 765, OECD Publishing.
    55. Dat Thanh Nguyen & Viet Anh Hoang, 2020. "Monetary Consequences of Fiscal Stress in a Game Theoretic Framework," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 125-164.
    56. David Miller, 2014. "Commitment versus Discretion in a Political Economy Model of Fiscal and Monetary Policy Interaction," 2014 Meeting Papers 80, Society for Economic Dynamics.
    57. Niemann, Stefan & Pichler, Paul, 2011. "Optimal fiscal and monetary policies in the face of rare disasters," European Economic Review, Elsevier, vol. 55(1), pages 75-92, January.
    58. Demirel, Ufuk Devrim, 2013. "Gains from commitment in monetary policy: Implications of the cost channel," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 218-226.
    59. Miller, David S., 2016. "Commitment versus discretion in a political economy model of fiscal and monetary policy interaction," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 17-29.

  29. Klaus Adam & Albert Marcet & Juan Pablo Nicolini, 2006. "Learning and Stock Market Volatility," Computing in Economics and Finance 2006 15, Society for Computational Economics.

    Cited by:

    1. Klaus Adam & Pei Kuang & Albert Marcet, 2011. "House Price Booms and the Current Account," NBER Working Papers 17224, National Bureau of Economic Research, Inc.
    2. Eva Carceles Poveda & Chryssi Giannitsarou, 2006. "Asset pricing with adaptive learning," Computing in Economics and Finance 2006 25, Society for Computational Economics.
    3. George W. Evans, 2011. "Comment on "Natural Expectations, Macroeconomic Dynamics, and Asset Pricing"," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 61-71, National Bureau of Economic Research, Inc.
    4. Klaus Adam & Albert Marcet, 2011. "Internal Rationality, Imperfect Market Knowledge and Asset Prices," CEP Discussion Papers dp1068, Centre for Economic Performance, LSE.
    5. Eva Carceles-Poveda & Chryssi Giannitsarou, 2007. "Online Appendix to Asset Pricing with Adaptive Learning," Online Appendices carceles08, Review of Economic Dynamics.
    6. Detken, Carsten & Adalid, Ramón, 2007. "Liquidity shocks and asset price boom/bust cycles," Working Paper Series 732, European Central Bank.
    7. Orlando Gomes, 2009. "Stability under learning: the neo-classical growth problem," Economics Bulletin, AccessEcon, vol. 29(4), pages 3186-3193.
    8. Klaus Adam & Albert Marcet, 2010. "Booms and Busts in Asset Prices," IMES Discussion Paper Series 10-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
    9. Francesco Caprioli & Pietro Rizza & Pietro Tommasino, 2011. "Optimal Fiscal Policy when Agents Fear Government Default," Revue économique, Presses de Sciences-Po, vol. 62(6), pages 1031-1043.
    10. Cogley, Timothy & Sargent, Thomas J., 2008. "The market price of risk and the equity premium: A legacy of the Great Depression?," Journal of Monetary Economics, Elsevier, vol. 55(3), pages 454-476, April.
    11. George W. Evans & Avik Chakraborty, 2006. "Can Perpetual Learning Explain the Forward Premium Puzzle?," University of Oregon Economics Department Working Papers 2006-8, University of Oregon Economics Department, revised 20 Aug 2006.
    12. Georges, Christophre, 2008. "Staggered updating in an artificial financial market," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 2809-2825, September.
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    3. Te Bao & John Duffy & Cars Hommes, 2012. "Learning, Forecasting and Optimizing: An Experimental Study," Tinbergen Institute Discussion Papers 12-015/1, Tinbergen Institute.
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    5. Marco Airaudo & Ina Hajdini, 2021. "Consistent Expectations Equilibria In Markov Regime Switching Models And Inflation Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(4), pages 1401-1430, November.
    6. Arifovic, Jasmina & Petersen, Luba, 2017. "Stabilizing expectations at the zero lower bound: Experimental evidence," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 21-43.
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    8. George W. Evans & William A. Branch, 2005. "Model Uncertainty and Endogenous Volatility," Computing in Economics and Finance 2005 33, Society for Computational Economics.
    9. Ahrens, Steffen & Lustenhouwer, Joep & Tettamanzi, Michele, 2017. "The Stabilizing Role of Forward Guidance: A Macro Experiment," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168063, Verein für Socialpolitik / German Economic Association.
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    22. Volha Audzei & Sergey Slobodyan, 2018. "Sparse Restricted Perception Equilibrium," Working Papers 2018/8, Czech National Bank, Research and Statistics Department.
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    27. Hommes, Cars & Lux, Thomas, 2008. "Individual expectations and aggregate behavior in learning to forecast experiments," Kiel Working Papers 1466, Kiel Institute for the World Economy (IfW Kiel).
    28. Pfajfar, D. & Zakelj, B., 2012. "Uncertainty and Disagreement in Forecasting Inflation : Evidence from the Laboratory (Revised version of EBC DP 2011-014)," Other publications TiSEM 2b92a09f-918e-4614-978d-0, Tilburg University, School of Economics and Management.
    29. Volha Audzei & Sergey Slobodyan, 2024. "Dynamic Sparse Restricted Perceptions Equilibria," CERGE-EI Working Papers wp792, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    30. Camille Cornand & Paul Hubert, 2019. "On the external validity of experimental inflation forecasts: A comparison with five categories of field expectations," Working Papers hal-03403259, HAL.
    31. Oleksiy Kryvtsov & Luba Petersen, 2019. "Central Bank Communication That Works: Lessons from Lab Experiments," Staff Working Papers 19-21, Bank of Canada.
    32. Te Bao & Cars Hommes & Joep Sonnemans & Jan Tuinstra, 2012. "Individual Expectations, Limited Rationality and Aggregate Outcomes," Tinbergen Institute Discussion Papers 12-016/1, Tinbergen Institute.
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    35. Hommes, Cars & in ’t Veld, Daan, 2017. "Booms, busts and behavioural heterogeneity in stock prices," Journal of Economic Dynamics and Control, Elsevier, vol. 80(C), pages 101-124.
    36. Xiao, Wei & Xu, Junyi, 2014. "Expectations and optimal monetary policy: A stability problem revisited," Economics Letters, Elsevier, vol. 124(2), pages 296-299.
    37. Camille Cornand & Frank Heinemann, 2014. "Experiments on Monetary Policy and Central Banking," Research in Experimental Economics, in: Experiments in Macroeconomics, volume 17, pages 167-227, Emerald Group Publishing Limited.
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    66. Hommes, C.H. & Zhu, M., 2012. "Behavioral Learning Equilibria," CeNDEF Working Papers 12-09, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    67. Oleksiy Kryvtsov & Luba Petersen, 2013. "Expectations and Monetary Policy: Experimental Evidence," Staff Working Papers 13-44, Bank of Canada.
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    75. Anna Agliari & Domenico Massaro & Nicolò Pecora & Alessandro Spelta, 2017. "Inflation Targeting, Recursive Inattentiveness, and Heterogeneous Beliefs," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(7), pages 1587-1619, October.
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    77. Ina Hajdini, 2022. "Mis-specified Forecasts and Myopia in an Estimated New Keynesian Model," Working Papers 22-03R, Federal Reserve Bank of Cleveland, revised 06 Mar 2023.
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    79. Cars Hommes & Domenico Massaro & Matthias Weber, 2015. "Monetary Policy under Behavioral Expectations: Theory and Experiment," Tinbergen Institute Discussion Papers 15-087/II, Tinbergen Institute.
    80. Mauersberger, Felix, 2021. "Monetary policy rules in a non-rational world: A macroeconomic experiment," Journal of Economic Theory, Elsevier, vol. 197(C).
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    82. Francesco D'Acunto & Ulrike M. Malmendier & Juan Ospina & Michael Weber & Michael Weber, 2019. "Exposure to Daily Price Changes and Inflation Expectations," CESifo Working Paper Series 7798, CESifo.
    83. Hommes, C.H. & Zhu, M., 2016. "Behavioral Learning Equilibria, Persistence Amplification & Monetary Policy," CeNDEF Working Papers 16-03, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    84. Hommes, C.H. & Massaro, D. & Salle, I., 2015. "Monetary and Fiscal Policy Design at the Zero Lower Bound - Evidence from the Lab," CeNDEF Working Papers 15-11, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    85. Assenza, T. & Brock, W.A. & Hommes, C.H., 2012. "Animal Spirits, Heterogeneous Expectations and the Amplification and Duration of Crises," CeNDEF Working Papers 12-07, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    86. Evans, David & Evans, George W. & McGough, Bruce, 2022. "The RPEs of RBCs and other DSGEs," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
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    6. Nicoletta Batini & Vasco Gabriel & Paul Levine & Joseph Pearlman, 2010. "A Floating versus Managed Exchange Rate Regime in a DSGE Model of India," Macroeconomics Working Papers 21992, East Asian Bureau of Economic Research.
    7. Tatsushi Okuda & Tomohiro Tsuruga, 2021. "Inflation Expectations and Central Bank Communication with Unknown Prior," IMES Discussion Paper Series 21-E-07, Institute for Monetary and Economic Studies, Bank of Japan.
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    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
    2. Tatiana Kirsanova & Campbell Leith & Ding Liu, 2024. "Central Bank Independence, Government Debt and the Re-Normalization of Interest Rates," Working Papers 2024_10, Business School - Economics, University of Glasgow.
    3. Tatiana Kirsanova & Campbell Leith & Simon Wren-Lewis, 2009. "Monetary and Fiscal Policy Interaction: The Current Consensus Assignment in the Light of Recent Developments," Economic Journal, Royal Economic Society, vol. 119(541), pages 482-496, November.
    4. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2022. "Optimal Monetary Policy with and without Debt," LIDAM Discussion Papers IRES 2022027, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    5. Adam, Klaus, 2011. "Government debt and optimal monetary and fiscal policy," European Economic Review, Elsevier, vol. 55(1), pages 57-74, January.
    6. Linde, Jesper & Erceg, Christopher, 2010. "Is There a Fiscal Free Lunch in a Liquidity Trap?," CEPR Discussion Papers 7624, C.E.P.R. Discussion Papers.
    7. Alfred Duncan & Charles Nolan, 2017. "Disputes, Debt and Equity," Studies in Economics 1716, School of Economics, University of Kent.
    8. Adam, Klaus & Billi, Roberto M., 2013. "Distortionary Fiscal Policy and Monetary Policy Goals," Working Paper Series 278, Sveriges Riksbank (Central Bank of Sweden).
    9. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    10. Antoine Camous & Dmitry Matveev, 2023. "The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence," The Economic Journal, Royal Economic Society, vol. 133(649), pages 1-29.
    11. Jan Libich & Dat Thanh Nguyen & Petr Stehlík, 2011. "Monetary Exit Strategy and Fiscal Spillovers," CAMA Working Papers 2011-04, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    12. Hubert Kempf & Von Thadden, L., 2008. "On policy interactions among nations: when do cooperation and commitment matter ?," Working papers 196, Banque de France.
    13. Fernando M. Martin, 2013. "Debt, inflation and central bank independence," Working Papers 2013-017, Federal Reserve Bank of St. Louis.
    14. Paul Pichler & Gerhard Sorger & Stefan Niemann, 2011. "Public debt, discretionary policy, and inflation persistence," 2011 Meeting Papers 887, Society for Economic Dynamics.
    15. Karsten Staehr & Oļegs Tkačevs & Katri Urke, 2024. "Fiscal performance under inflation and inflation surprises: evidence from fiscal reaction functions for the euro area," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 160(4), pages 1477-1504, November.
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    17. Niemann, S, 2009. "Dynamic Monetary-Fiscal Interactions and the Role of Monetary Conservatism," Economics Discussion Papers 2899, University of Essex, Department of Economics.
    18. Stefan Niemann & Paul Pichler & Gerhard Sorger, 2013. "Central Bank Independence And The Monetary Instrument Problem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 1031-1055, August.
    19. Henrique S. Basso & James Costain, 2013. "Fiscal delegation in a monetary union with decentralized public spending," Working Papers 1311, Banco de España.
    20. Sebastian Schmidt, 2017. "Fiscal Activism and the Zero Nominal Interest Rate Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(4), pages 695-732, June.
    21. Vines, David & Kirsanova, Tatiana & Stehn, Sven Jari, 2006. "Five-Equation Macroeconomics: A Simple View of the Interactions Between Fiscal Policy and Monetary Policy," CEPR Discussion Papers 5464, C.E.P.R. Discussion Papers.
    22. Chen, Xiaoshan & Kirsanova, Tatiana & Leith, Campbell, 2014. "An Empirical Assessment of Optimal Monetary Policy Delegation in the Euro Area," Stirling Economics Discussion Papers 2014-11, University of Stirling, Division of Economics.
    23. Reicher, Claire, 2014. "Systematic fiscal policy and macroeconomic performance: A critical overview of the literature," Economics Discussion Papers 2014-29, Kiel Institute for the World Economy (IfW Kiel).
    24. Keiichi Morimoto, 2009. "Optimal Structure of Monetary Policy Committees," Discussion Papers in Economics and Business 09-36, Osaka University, Graduate School of Economics.
    25. Erceg, Christopher J. & Lindé, Jesper, 2013. "Fiscal consolidation in a currency union: Spending cuts vs. tax hikes," Journal of Economic Dynamics and Control, Elsevier, vol. 37(2), pages 422-445.
    26. Dumitriu, Ramona & Stefanescu, Razvan, 2013. "Provocările politicii monetare [Monetary policy challenges]," MPRA Paper 50261, University Library of Munich, Germany, revised 28 Sep 2013.
    27. Christopher J. Erceg & Jesper Lindé, 2011. "Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 7(1), pages 95-136.
    28. Christopher J. Erceg & Andrew T. Levin, 2014. "Labor Force Participation and Monetary Policy in the Wake of the Great Recession," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(S2), pages 3-49, October.
    29. Schnatz, Bernd, 2006. "Is reversion to PPP in euro exchange rates non-linear?," Working Paper Series 682, European Central Bank.
    30. Lieberknecht, Philipp, 2018. "Financial Frictions, the Phillips Curve and Monetary Policy," MPRA Paper 89429, University Library of Munich, Germany.
    31. Panagiotis Chronis & Aspassia Strantzalou, 2008. "Monetary and Fiscal Policy Interaction: What is the Role of the Transaction Cost of the Tax System in Stabilisation Policies?," Working Papers 71, Bank of Greece.
    32. Mihailov, Alexander & Ullrich, Katrin, 2007. "Independence and Accountability of Monetary and Fiscal Policy Committees," ZEW Discussion Papers 07-044, ZEW - Leibniz Centre for European Economic Research.
    33. Aleksandra Prascevic, 2012. "The Role Of Governement In Overcoming The Effects Of Global Economic Crisis In Serbia - Obstacles From The Past," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 137-155.
    34. Taisuke Nakata & Sebastian Schmidt, 2015. "Conservatism and Liquidity Traps," Working Papers e101, Tokyo Center for Economic Research.
    35. Kazeem Abimbola Sanusi & Zandri Dickason-Koekemoer, 2023. "Fiscal and Monetary Policies Interactions in Nigeria and South Africa: Dynamic Stochastic General Equilibrium Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 13(5), pages 21-31, September.
    36. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    37. Jan Libich & Petr Stehlík, 2012. "Monetary Policy Facing Fiscal Indiscipline under Generalized Timing of Actions," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 168(3), pages 393-431, September.
    38. Bluwstein, Kristina, 2017. "Asymmetric Macro-Financial Spillovers," Working Paper Series 337, Sveriges Riksbank (Central Bank of Sweden).
    39. Alice, Albonico & Lorenza, Rossi, 2017. "Inflation bias and markup shocks in a LAMP model with strategic interaction of monetary and fiscal policy," Working Papers 362, University of Milano-Bicocca, Department of Economics, revised 14 Feb 2017.
    40. Libich, Jan & Nguyen, Dat Thanh & Stehlík, Petr, 2015. "Monetary exit and fiscal spillovers," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 184-206.
    41. Demirel, Ufuk Devrim, 2012. "The value of monetary policy commitment under imperfect fiscal credibility," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 813-829.
    42. Andrew HUGHES HALLETT & Jan LIBICH & Petr STEHLÍK, 2014. "Monetary and Fiscal Policy Interaction with Various Degrees of Commitment," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 64(1), pages 2-29, February.
    43. David S. Miller, 2019. "Optimal Structure of Fiscal and Monetary Authorities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 289-312, March.
    44. Kim, Jeong-Yoo & Choi, Hyung Sun, 2023. "Monetary policy, fiscal policy and cross signal jamming," Journal of Macroeconomics, Elsevier, vol. 75(C).
    45. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    46. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    47. Matthew B. Canzoneri, 2007. "Coordination Of Monetary And Fiscal Policy In A Monetary Union: Policy Issues And Analytical Models," Manchester School, University of Manchester, vol. 75(s1), pages 21-43, September.
    48. Kolasa, Marcin & Brzoza-Brzezina, Michał & Jacquinot, Pascal, 2010. "Can we prevent boom-bust cycles during euro area accession?," Working Paper Series 1280, European Central Bank.
    49. Rosaria Rita Canale & Pasquale Foresti & Ugo Marani & Oreste Napolitano, 2008. "On keynesian effects of (apparent) non-keynesian fiscal policies," Politica economica, Società editrice il Mulino, issue 1, pages 5-46.
    50. Niemann, S & Pichler, P & Sorger, G, 2009. "Inflation dynamics under optimal discretionary fiscal and monetary policies," Economics Discussion Papers 2898, University of Essex, Department of Economics.
    51. Albonico, Alice, 2010. "Policy Games with Liquidity Constrained Consumers," MPRA Paper 25666, University Library of Munich, Germany.
    52. S. Gnocchi, 2007. "Discretionary Fiscal Policy and Optimal Monetary Policy in a Currency Area," Working Papers 602, Dipartimento Scienze Economiche, Universita' di Bologna.
    53. Jung, Alexander & Mongelli, Francesco, 2013. "Monetary policy decision-making when information search is costly," MPRA Paper 80517, University Library of Munich, Germany, revised 25 May 2016.
    54. Klaus Adam, 2010. "Optimal Monetary and Fiscal Stabilisation Policies," OECD Economics Department Working Papers 765, OECD Publishing.
    55. Dat Thanh Nguyen & Viet Anh Hoang, 2020. "Monetary Consequences of Fiscal Stress in a Game Theoretic Framework," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 125-164.
    56. David Miller, 2014. "Commitment versus Discretion in a Political Economy Model of Fiscal and Monetary Policy Interaction," 2014 Meeting Papers 80, Society for Economic Dynamics.
    57. Niemann, Stefan & Pichler, Paul, 2011. "Optimal fiscal and monetary policies in the face of rare disasters," European Economic Review, Elsevier, vol. 55(1), pages 75-92, January.
    58. Demirel, Ufuk Devrim, 2013. "Gains from commitment in monetary policy: Implications of the cost channel," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 218-226.
    59. Miller, David S., 2016. "Commitment versus discretion in a political economy model of fiscal and monetary policy interaction," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 17-29.

  34. Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).

    Cited by:

    1. Romanos Priftis & Rigas Oikonomou & Hafedh Bouakez, 2017. "Optimal Debt Management in a Liquidity Trap," 2017 Meeting Papers 1316, Society for Economic Dynamics.
    2. Guerron-Quintana, Pablo A., 2011. "The implications of inflation in an estimated new Keynesian model," Journal of Economic Dynamics and Control, Elsevier, vol. 35(6), pages 947-962, June.
    3. Akosah, Nana Kwame & Alagidede, Imhotep Paul & Schaling, Eric, 2020. "Testing for asymmetry in monetary policy rule for small-open developing economies: Multiscale Bayesian quantile evidence from Ghana," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
    4. Romei, Federica, 2015. "Need for (the Right) Speed: the Timing and Composition of Public Debt Deleveraging," Economics Working Papers MWP2015/11, European University Institute.
    5. Anton Nakov, 2008. "Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 73-127, June.
    6. Hess Chung & Jean-Philippe Laforte & David Reifschneider & John C. Williams, 2012. "Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 47-82, February.
    7. Thanaset Chevapatrakul & Tae-Hwan Kim & Paul Mizen, 2009. "The Taylor Principle and Monetary Policy Approaching a Zero Bound on Nominal Rates: Quantile Regression Results for the United States and Japan," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1705-1723, December.
    8. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2022. "Optimal Monetary Policy with and without Debt," LIDAM Discussion Papers IRES 2022027, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    9. Thomas M. Mertens & John C. Williams, 2020. "What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices," Working Paper Series 2018-03, Federal Reserve Bank of San Francisco.
    10. Fiorella De Fiore & Oreste Tristani, 2019. "(Un)conventional policy and the effective lower bound," BIS Working Papers 804, Bank for International Settlements.
    11. Marius Brulhart & Didier Dupertuis & Elodie Moreau, 2016. "Inheritance Flows in Switzerland, 1911-2011," Cahiers de Recherches Economiques du Département d'économie 16.05, Université de Lausanne, Faculté des HEC, Département d’économie.
    12. Ippei FUJIWARA & Yuichiro WAKI, 2016. "Private News and Monetary Policy: Forward guidance or the expected virtue of ignorance," Discussion papers 16027, Research Institute of Economy, Trade and Industry (RIETI).
    13. Adam, Klaus, 2011. "Government debt and optimal monetary and fiscal policy," European Economic Review, Elsevier, vol. 55(1), pages 57-74, January.
    14. Klaus Adam & Erwan Gautier & Sergio Santoro & Henning Weber, 2021. "The Case for a Positive Euro Area Inflation Target: Evidence from France, Germany and Italy," Working papers 825, Banque de France.
    15. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    16. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    17. Elfsbacka Schmöller, Michaela & Spitzer, Martin, 2022. "Lower for longer under endogenous technology growth," Working Paper Series 2714, European Central Bank.
    18. Söderström, Ulf & Billi, Roberto & Walsh, Carl, 2020. "The Role of Money in Monetary Policy at the Lower Bound," CEPR Discussion Papers 14865, C.E.P.R. Discussion Papers.
    19. IIBOSHI Hirokuni, 2014. "Monetary Policy Regime Shifts Under the Zero Lower Bound: An Application of a Stochastic Rational Expectations Equilibrium to a Markov Switching DSGE Model," ESRI Discussion paper series 312, Economic and Social Research Institute (ESRI).
    20. Burgert, Matthias & Schmidt, Sebastian, 2013. "Dealing with a liquidity trap when government debt matters: optimal time-consistent monetary and fiscal policy," Working Paper Series 1622, European Central Bank.
    21. Pierpaolo Benigno & Gauti B. Eggertsson & Federica Romei, 2020. "Dynamic Debt Deleveraging and Optimal Monetary Policy," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(2), pages 310-350, April.
    22. Michał Brzoza-Brzezina & Jacek Socha, 2007. "Downward nominal wage rigidity in Poland," NBP Working Papers 41, Narodowy Bank Polski.
    23. Nikolov, Kalin & Aoki, Kosuke, 2012. "Bubbles, banks and financial stability," Working Paper Series 1495, European Central Bank.
    24. Gaetano Antinolfi & Costas Azariadis & James B. Bullard, 2008. "The optimal inflation target in an economy with limited enforcement," Speech 166, Federal Reserve Bank of St. Louis.
    25. William T. Gavin & Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2013. "The stimulative effect of forward guidance," Working Papers 2013-38, Federal Reserve Bank of St. Louis.
    26. Darracq-Pariès, Matthieu & Kühl, Michael, 2017. "The optimal conduct of central bank asset purchases," Discussion Papers 22/2017, Deutsche Bundesbank.
    27. Matthieu Darracq Paries, 2018. "Financial frictions and monetary policy conduct," Erudite Ph.D Dissertations, Erudite, number ph18-01 edited by Ferhat Mihoubi, September.
    28. Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).
    29. Grimm, Oliver & Ried, Stefan, 2007. "Macroeconomic policy in a heterogeneous Monetary Union," SFB 649 Discussion Papers 2007-028, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    30. He Nie & Jordan Roulleau-Pasdeloup, 2022. "Online Appendix to "The promises (and perils) of control-contingent forward guidance"," Online Appendices 21-153, Review of Economic Dynamics.
    31. Paustian, Matthias & Stoltenberg, Christian, 2008. "Optimal interest rate stabilization in a basic sticky-price model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3166-3191, October.
    32. R. Anton Braun & Lena Mareen Korber, 2010. "New Keynesian Dynamics in a Low Interest Rate Environment," IMES Discussion Paper Series 10-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
    33. Lasitha R. C. Pathberiya, 2016. "Optimal Monetary Policy at the Zero Lower Bound on Nominal Interest Rates in a Cost Channel Economy," Discussion Papers Series 568, School of Economics, University of Queensland, Australia.
    34. Jordan Roulleau-Pasdeloup, 2017. "The Government Spending Multiplier in a (Mis-)Managed Liquidity Trap," Cahiers de Recherches Economiques du Département d'économie 17.04, Université de Lausanne, Faculté des HEC, Département d’économie.
    35. Adam, Klaus & Weber, Henning, 2020. "Estimating the Optimal Inflation Target from Trends in Relative Prices," CEPR Discussion Papers 14335, C.E.P.R. Discussion Papers.
    36. Nakata, Taisuke & Schmidt, Sebastian & Budianto, Flora, 2020. "Average inflation targeting and the interest rate lower bound," Working Paper Series 2394, European Central Bank.
    37. Sushant Acharya & Julien Bengui, 2016. "Liquidity traps, capital flows," Staff Reports 765, Federal Reserve Bank of New York.
    38. Gauti B. Eggertsson, 2006. "Was the New Deal contractionary?," Staff Reports 264, Federal Reserve Bank of New York.
    39. Ahrens, Steffen & Snower, Dennis J., 2012. "Envy, guilt, and the Phillips curve," Kiel Working Papers 1754, Kiel Institute for the World Economy (IfW Kiel).
    40. Kozo Ueda, 2010. "A Time-Invariant Duration Policy under the Zero Lower Bound," IMES Discussion Paper Series 10-E-12, Institute for Monetary and Economic Studies, Bank of Japan.
    41. Galo Nuño & Philipp Renner & Simon Scheidegger, 2024. "Monetary Policy with Persistent Supply Shocks," CESifo Working Paper Series 11463, CESifo.
    42. Billi, Roberto M., 2004. "The optimal inflation buffer with a zero bound on nominal interest rates," CFS Working Paper Series 2005/17, Center for Financial Studies (CFS).
    43. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2023. "Optimal Policy for Macrofinancial Stability," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(4), pages 401-428, October.
    44. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    45. Pathberiya, Lasitha R.C., 2024. "Monetary policy rules and zero lower bound on nominal interest rates in a cost-channel economy," Economic Modelling, Elsevier, vol. 139(C).
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    3. Akosah, Nana Kwame & Alagidede, Imhotep Paul & Schaling, Eric, 2020. "Testing for asymmetry in monetary policy rule for small-open developing economies: Multiscale Bayesian quantile evidence from Ghana," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
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    5. Anton Nakov, 2008. "Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 73-127, June.
    6. Hess Chung & Jean-Philippe Laforte & David Reifschneider & John C. Williams, 2012. "Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 47-82, February.
    7. Thanaset Chevapatrakul & Tae-Hwan Kim & Paul Mizen, 2009. "The Taylor Principle and Monetary Policy Approaching a Zero Bound on Nominal Rates: Quantile Regression Results for the United States and Japan," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1705-1723, December.
    8. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2022. "Optimal Monetary Policy with and without Debt," LIDAM Discussion Papers IRES 2022027, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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    27. Matthieu Darracq Paries, 2018. "Financial frictions and monetary policy conduct," Erudite Ph.D Dissertations, Erudite, number ph18-01 edited by Ferhat Mihoubi, September.
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    33. Lasitha R. C. Pathberiya, 2016. "Optimal Monetary Policy at the Zero Lower Bound on Nominal Interest Rates in a Cost Channel Economy," Discussion Papers Series 568, School of Economics, University of Queensland, Australia.
    34. Jordan Roulleau-Pasdeloup, 2017. "The Government Spending Multiplier in a (Mis-)Managed Liquidity Trap," Cahiers de Recherches Economiques du Département d'économie 17.04, Université de Lausanne, Faculté des HEC, Département d’économie.
    35. Adam, Klaus & Weber, Henning, 2020. "Estimating the Optimal Inflation Target from Trends in Relative Prices," CEPR Discussion Papers 14335, C.E.P.R. Discussion Papers.
    36. Nakata, Taisuke & Schmidt, Sebastian & Budianto, Flora, 2020. "Average inflation targeting and the interest rate lower bound," Working Paper Series 2394, European Central Bank.
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    38. Gauti B. Eggertsson, 2006. "Was the New Deal contractionary?," Staff Reports 264, Federal Reserve Bank of New York.
    39. Ahrens, Steffen & Snower, Dennis J., 2012. "Envy, guilt, and the Phillips curve," Kiel Working Papers 1754, Kiel Institute for the World Economy (IfW Kiel).
    40. Kozo Ueda, 2010. "A Time-Invariant Duration Policy under the Zero Lower Bound," IMES Discussion Paper Series 10-E-12, Institute for Monetary and Economic Studies, Bank of Japan.
    41. Galo Nuño & Philipp Renner & Simon Scheidegger, 2024. "Monetary Policy with Persistent Supply Shocks," CESifo Working Paper Series 11463, CESifo.
    42. Billi, Roberto M., 2004. "The optimal inflation buffer with a zero bound on nominal interest rates," CFS Working Paper Series 2005/17, Center for Financial Studies (CFS).
    43. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2023. "Optimal Policy for Macrofinancial Stability," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(4), pages 401-428, October.
    44. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    45. Pathberiya, Lasitha R.C., 2024. "Monetary policy rules and zero lower bound on nominal interest rates in a cost-channel economy," Economic Modelling, Elsevier, vol. 139(C).
    46. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    47. Bodenstein, Martin & Hebden, James & Nunes, Ricardo, 2012. "Imperfect credibility and the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 59(2), pages 135-149.
    48. Boneva, Lena & Harrison, Richard & Waldron, Matthew, 2017. "Threshold-based forward guidance: hedging the zero bound," CEPR Discussion Papers 11749, C.E.P.R. Discussion Papers.
    49. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.
    50. Gomes, Orlando & Mendes, Diana A. & Mendes, Vivaldo M., 2008. "Bounded rational expectations and the stability of interest rate policy," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(15), pages 3882-3890.
    51. Martin Bodenstein & Christopher J. Erceg & Luca Guerrieri, 2017. "The effects of foreign shocks when interest rates are at zero," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(3), pages 660-684, August.
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    201. Gauti B. Eggertsson, 2006. "Fiscal multipliers and policy coordination," Staff Reports 241, Federal Reserve Bank of New York.
    202. Sunakawa, Takeki, 2015. "A quantitative analysis of optimal sustainable monetary policies," Journal of Economic Dynamics and Control, Elsevier, vol. 52(C), pages 119-135.
    203. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2014. "Mehr Vertrauen in Marktprozesse. Jahresgutachten 2014/15 [More confidence in market processes. Annual Report 2014/15]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201415.
    204. Naoto Soma, 2021. "Parameter Uncertainty and Effective Lower Bound Risk," IMES Discussion Paper Series 21-E-11, Institute for Monetary and Economic Studies, Bank of Japan.
    205. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
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    208. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Finance and Economics Discussion Series 2017-080, Board of Governors of the Federal Reserve System (U.S.).
    209. Billi , Roberto M. & Walsh, Carl E., 2022. "Seemingly Irresponsible but Welfare Improving Fiscal Policy at the Lower Bound," Working Paper Series 410, Sveriges Riksbank (Central Bank of Sweden).
    210. Daudignon, Sandra & Tristani, Oreste, 2023. "Monetary policy and the drifting natural rate of interest," Working Paper Series 2788, European Central Bank.
    211. Guido Ascari & Argia M. Sbordone, 2013. "The Macroeconomics of Trend Inflation," DEM Working Papers Series 053, University of Pavia, Department of Economics and Management.
    212. Santoro, Sergio & Weber, Henning, 2023. "Micro price heterogeneity and optimal inflation," Occasional Paper Series 322, European Central Bank.
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    215. Harrison, Richard, 2017. "Optimal quantitative easing," Bank of England working papers 678, Bank of England.
    216. Garret Kent Fellows & Jennifer Winter & Alaz Munzur, 2023. "An Analysis of Industrial Policy Mechanisms to Support Commercial Deployment of Bitumen Partial Upgrading in Alberta," Energies, MDPI, vol. 16(6), pages 1-49, March.
    217. Pavasuthipaisit, Robert, 2009. "Optimal exchange-rate policy in a low interest rate environment," Journal of the Japanese and International Economies, Elsevier, vol. 23(3), pages 264-282, September.
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    219. Nobuyuki Oda & Takashi Nagahata, 2005. "On the Function of the Zero Interest Rate Commitment: Monetary Policy Rules in the Presence of the Zero Lower Bound on Interest Rates," Bank of Japan Working Paper Series 05-E-1, Bank of Japan.
    220. Oleksiy Kryvtsov & Malik Shukayev & Alexander Ueberfeldt, 2008. "Adopting Price-Level Targeting under Imperfect Credibility," Staff Working Papers 08-3, Bank of Canada.
    221. Klaus Adam & Oliver Pfäuti & Timo Reinelt, 2020. "Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target," CRC TR 224 Discussion Paper Series crctr224_2020_235, University of Bonn and University of Mannheim, Germany.
    222. Amano, Robert & Moran, Kevin & Murchison, Stephen & Rennison, Andrew, 2009. "Trend inflation, wage and price rigidities, and productivity growth," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 353-364, April.
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    225. Taisuke Nakata & Hiroatsu Tanaka, 2016. "Equilibrium Yield Curves and the Interest Rate Lower Bound," Finance and Economics Discussion Series 2016-085, Board of Governors of the Federal Reserve System (U.S.).
    226. Braun, R Anton & Koerber, Lena & Waki, Yuichiro, 2015. "Some Unpleasant Properties of Loglinearized Solutions When the Nominal Rate is Zero," Bank of England working papers 553, Bank of England.
    227. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
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    231. Damjan Pfajfar & Fabian Winkler, 2025. "Households' Preferences Over Inflation and Monetary Policy Tradeoffs," Working Papers 25-12, Federal Reserve Bank of Cleveland.
    232. Martin Slanicay & Jan Čapek & Miroslav Hloušek, 2016. "Some Notes On Problematic Issues In Dsge Models," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 61(210), pages 79-100, July - Se.
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    236. Giulia Rivolta, 2018. "Potential ECB reaction functions with time-varying parameters: an assessment," Empirical Economics, Springer, vol. 55(4), pages 1425-1473, December.
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    239. Tomohiro Sugo & Yuki Teranishi, 2008. "The Zero Interest Rate Policy," IMES Discussion Paper Series 08-E-20, Institute for Monetary and Economic Studies, Bank of Japan.
    240. Ida, Daisuke, 2013. "Optimal monetary policy rules in a two-country economy with a zero bound on nominal interest rates," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 223-242.
    241. Oda, Nobuyuki & Nagahata, Takashi, 2008. "On the function of the zero interest rate commitment: Monetary policy rules in the presence of the zero lower bound on interest rates," Journal of the Japanese and International Economies, Elsevier, vol. 22(1), pages 34-67, March.
    242. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    243. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    244. Edilean Kleber da Silva Bejarano Aragón, 2021. "Specification errors, nonlinearities, and structural breaks in the Central Bank of Brazil’s reaction function," Empirical Economics, Springer, vol. 60(3), pages 1221-1243, March.
    245. Leitemo, Kai & Lonning, Ingunn, 2006. "Simple Monetary Policymaking without the Output Gap," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(6), pages 1619-1640, September.
    246. Carlsson, Mikael & Westermark, Andreas, 2012. "Labor-Market Frictions and Optimal Inflation," Working Paper Series 259, Sveriges Riksbank (Central Bank of Sweden).
    247. Kam, Timothy, 2009. "Gains from interest-rate smoothing in a small open economy with zero-bound aversion," The North American Journal of Economics and Finance, Elsevier, vol. 20(1), pages 24-45, March.
    248. Taisuke Nakata, 2013. "Uncertainty at the zero lower bound," Finance and Economics Discussion Series 2013-09, Board of Governors of the Federal Reserve System (U.S.).
    249. Harrison, Richard, 2012. "Asset purchase policy at the effective lower bound for interest rates," Bank of England working papers 444, Bank of England.
    250. Kiesel, Konstantin & Wolters, Maik H., 2014. "Estimating monetary policy rules when the zero lower bound on nominal interest rates is approached," Kiel Working Papers 1898, Kiel Institute for the World Economy (IfW Kiel).
    251. Ragna Alstadheim, 2010. "The zero lower bound on the interest rate and a Neo-Classical Phillips curve," Working Paper 2010/13, Norges Bank.
    252. Hettig, Thomas & Müller, Gernot J., 2018. "Fiscal policy coordination in currency unions at the effective lower bound," Journal of International Economics, Elsevier, vol. 115(C), pages 80-98.
    253. Dai, Meixing, 2011. "Quantitative and credit easing policies at the zero lower bound on the nominal interest rate," MPRA Paper 28129, University Library of Munich, Germany.
    254. Taisuke Nakata, 2015. "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis," Finance and Economics Discussion Series 2015-38, Board of Governors of the Federal Reserve System (U.S.).
    255. Wolfram Berger & Friedrich Kissmer, 2013. "Monetary Policy and Asset Prices: When Cleaning Up Hits the Zero Lower Bound," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(III), pages 291-312, September.
    256. Stefan Gerlach & John Lewis, 2014. "Zero lower bound, ECB interest rate policy and the financial crisis," Empirical Economics, Springer, vol. 46(3), pages 865-886, May.
    257. Herzog, Bodo, 2023. "How credible is average and symmetric inflation targeting in an episode of high inflation?," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1750-1761.
    258. Piotr Ciżkowicz & Andrzej Rzońcaz, 2017. "Are Major Central Banks Blinded By The Analytical Elegance Of Their Models? Possible Costs Of Unconventional Monetary Policy Measures," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(01), pages 87-108, March.
    259. Matteo Ciccarelli, 2012. "Monetary policy analysis and data revisions – vintage combination from a real-time dataset," Research Bulletin, European Central Bank, vol. 15, pages 7-11.
    260. Klaus Adam, 2010. "Optimal Monetary and Fiscal Stabilisation Policies," OECD Economics Department Working Papers 765, OECD Publishing.
    261. Ippei Fujiwara & Naoko Hara & Naohisa Hirakata & Shinichiro Watanabe & Kentaro Yoshimura, 2005. "Monetary Policy in a Liquidity Trap: What Have We Learned, and to What End?," International Finance, Wiley Blackwell, vol. 8(3), pages 471-508, December.
    262. Claudio Cesaroni, 2017. "Optimal Long-Run Inflation and the Informal Economy," Bank of Lithuania Working Paper Series 46, Bank of Lithuania.
    263. Roulleau-Pasdeloup, Jordan, 2020. "Optimal monetary policy and determinacy under active/passive regimes," European Economic Review, Elsevier, vol. 130(C).
    264. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.
    265. Fiorella De Fiore & Oreste Tristani, 2012. "Credit risk and the zero lower bound on interest rates," Research Bulletin, European Central Bank, vol. 15, pages 12-14.
    266. Daisuke Ida & Hirokuni Iiboshi, 2021. "The international forward guidance transmission under a global liquidity trap," Papers 2103.12503, arXiv.org, revised Aug 2024.
    267. Christian Matthes, 2015. "Figuring Out the Fed—Beliefs about Policymakers and Gains from Transparency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(1), pages 1-29, February.
    268. Paweł Baranowski, 2008. "Reguła Taylora i jej rozszerzenia," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 7-8, pages 1-23.
    269. Benjamín García, 2016. "Zero Lower Bound Risk and Long-Term Inflation in a Time Varying Economy," Working Papers Central Bank of Chile 796, Central Bank of Chile.
    270. Shin-Ichi Nishiyama, 2009. "Monetary Policy Lag, Zero Lower Bound, and Inflation Targeting," Staff Working Papers 09-2, Bank of Canada.
    271. van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
    272. Hess T. Chung & Brian M. Doyle & James Hebden & Michael Siemer, 2020. "Considerations Regarding Inflation Ranges," Finance and Economics Discussion Series 2020-075, Board of Governors of the Federal Reserve System (U.S.).
    273. Gabriela Bezerra De Medeiros & Marcelo Savino Portugal & Edilean Kleber Da Silva Bejarano Aragon, 2016. "Endogeneity And Nonlinearities In Central Bank Of Brazil’S Reaction Functions: An Inverse Quantile Regression Approach," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 061, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    274. Klaus Adam, 2004. "Monetary Policy in a Low Inflation Environment," Research Bulletin, European Central Bank, vol. 1, pages 6-7.
    275. Carl E. Walsh, 2009. "Using monetary policy to stabilize economic activity," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 245-296.
    276. Eric Gaus, 2013. "Robust Stability of Monetary Policy Rules under Adaptive Learning," Southern Economic Journal, John Wiley & Sons, vol. 80(2), pages 439-453, October.
    277. Meier, Samira & Rodriguez Gonzalez, Miguel & Kunze, Frederik, 2021. "The global financial crisis, the EMU sovereign debt crisis and international financial regulation: lessons from a systematic literature review," International Review of Law and Economics, Elsevier, vol. 65(C).
    278. Eggertsson, Gauti B. & Pugsley, Benjamin, 2006. "The mistake of 1931: A general equilibrium analysis," CFS Working Paper Series 2007/06, Center for Financial Studies (CFS).
    279. Ngo, Phuong V., 2015. "Household leverage, housing markets, and macroeconomic fluctuations," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 191-207.
    280. Naoko Hara & Takeshi Kimura & Kunio Okina, 2008. "Monetary Policy Framework and "Insurance Against Deflation"," Bank of Japan Working Paper Series 08-E-6, Bank of Japan.
    281. Hess Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2020. "Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit," CARF F-Series CARF-F-483, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    282. Tayler, William J. & Zilberman, Roy, 2021. "Optimal Loan Loss Provisions and Welfare," Journal of Macroeconomics, Elsevier, vol. 69(C).
    283. Carlsson, Mikael & Westermark, Andreas, 2016. "Labor market frictions and optimal steady-state inflation," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 67-79.
    284. Harrison, Richard, 2024. "Optimal quantitative easing and tightening," Bank of England working papers 1063, Bank of England.

  36. Adam, Klaus, 2003. "On the Relation between Robust and Bayesian Decision Making," CFS Working Paper Series 2003/02, Center for Financial Studies (CFS).

    Cited by:

    1. Luo, Yulei & Nie, Jun & Young, Eric, 2014. "Model Uncertainty and Intertemporal Tax Smoothing," MPRA Paper 54268, University Library of Munich, Germany.
    2. Renaud, J. & Thibault, J. & Lanouette, R. & Kiss, L.N. & Zaras, K. & Fonteix, C., 2007. "Comparison of two multicriteria decision aid methods: Net Flow and Rough Set Methods in a high yield pulping process," European Journal of Operational Research, Elsevier, vol. 177(3), pages 1418-1432, March.
    3. Robert Tetlow & Peter von zur Muehlen, 2004. "Avoiding Nash Inflation: Bayesian and Robus Responses to Model Uncertainty," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(4), pages 869-899, October.
    4. Andrea Lanteri & Albert Marcet & Esther Hauk, 2016. "Optimal Policy with General Signal Extraction," Working Papers 932, Barcelona School of Economics.
    5. Filippo Altissimo & Stefano Siviero & Daniele Terlizzese, 2006. "On Robust Monetary Policy," Chapters, in: Lawrence R. Klein (ed.), Long-run Growth and Short-run Stabilization, chapter 6, Edward Elgar Publishing.
    6. Wieland, Volker & Küster, Keith, 2005. "Insurance Policies for Monetary Policy in the Euro Area," CEPR Discussion Papers 4956, C.E.P.R. Discussion Papers.
    7. Woodford, Michael & Adam, Klaus, 2012. "Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model," CEPR Discussion Papers 8826, C.E.P.R. Discussion Papers.
    8. Bigio, Saki, 2010. "Learning under fear of floating," Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 1923-1950, October.
    9. Pauline Barrieu & Sinclair Desgagn�, 2009. "Economic policy when models disagree," GRI Working Papers 4, Grantham Research Institute on Climate Change and the Environment.
    10. Rama Cont, 2006. "Model uncertainty and its impact on the pricing of derivative instruments," Post-Print halshs-00002695, HAL.
    11. Barrieu, Pauline & Desgagne, Bernard Sinclair, 2009. "Economic policy when models disagree," LSE Research Online Documents on Economics 37607, London School of Economics and Political Science, LSE Library.
    12. Peter Tillmann, 2009. "Optimal Monetary Policy with an Uncertain Cost Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 885-906, August.
    13. Q. Farooq Akram & Yakov Ben-Haim & Øyvind Eitrheim, 2006. "Managing uncertainty through robust-satisficing monetary policy," Working Paper 2006/10, Norges Bank.

  37. Adam, Klaus, 2003. "Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices," CFS Working Paper Series 2003/03, Center for Financial Studies (CFS).

    Cited by:

    1. Adam, Klaus, 2005. "Experimental evidence on the persistence of output and inflation," Working Paper Series 492, European Central Bank.
    2. Jordi Gal?, 2014. "Monetary Policy and Rational Asset Price Bubbles," American Economic Review, American Economic Association, vol. 104(3), pages 721-752, March.
    3. McCallum, Bennett T., 2007. "E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1376-1391, April.
    4. Adam, Klaus & Marcet, Albert & Nicolini, Juan Pablo, 2011. "Stock market volatility and learning," LSE Research Online Documents on Economics 121739, London School of Economics and Political Science, LSE Library.
    5. Klaus Adam & Albert Marcet, 2011. "Internal Rationality, Imperfect Market Knowledge and Asset Prices," CEP Discussion Papers dp1068, Centre for Economic Performance, LSE.
    6. Franklin Allen & Douglas Gale & Gadi Barlevy, 2019. "Asset Price Booms and Macroeconomic Policy: a Risk-Shifting Approach," 2019 Meeting Papers 587, Society for Economic Dynamics.
    7. Pei Kuang, 2014. "Learning Dynamics with Data (Quasi-) Differencing," Discussion Papers 15-06, Department of Economics, University of Birmingham.
    8. Brecht Boone & Ewoud Quaghebeur, 2018. "Beyond Rational Expectations: The Effects Of Heuristic Switching In An Overlapping Generations Model," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 18/943, Ghent University, Faculty of Economics and Business Administration.
    9. Franklin Allen & Gadi Barlevy & Douglas Gale, 2023. "A Comment on Monetary Policy and Rational Asset Price Bubbles," Working Paper Series WP 2023-25, Federal Reserve Bank of Chicago.
    10. Adam, Klaus & Evans, George W. & Honkapohja, Seppo, 2003. "Are stationary hyperinflation paths learnable?," CFS Working Paper Series 2004/15, Center for Financial Studies (CFS).
    11. Mathieu Pedemonte & Hiroshi Toma & Esteban Verdugo, 2023. "Aggregate Implications of Heterogeneous Inflation Expectations: The Role of Individual Experience," Working Papers 23-04, Federal Reserve Bank of Cleveland.
    12. Antonio Mele & Krisztina Molnar & Sergio Santoro, 2015. "On the perils of stabilizing prices when agents are learning," School of Economics Discussion Papers 0215, School of Economics, University of Surrey.
    13. Martin Ellison & Joseph Pearlman, 2010. "Saddlepath Learning," Economics Series Working Papers 505, University of Oxford, Department of Economics.
    14. Norbert Christopeit & Michael Massmann, 2015. "Estimating Structural Parameters in Regression Models with Adaptive Learning," Tinbergen Institute Discussion Papers 15-106/III, Tinbergen Institute.
    15. Seonghoon Cho & Antonio Moreno, 2008. "Expectational Stability in Multivariate Models," Faculty Working Papers 06/08, School of Economics and Business Administration, University of Navarra.
    16. Hommes, C.H. & Zhu, M., 2016. "Behavioral Learning Equilibria, Persistence Amplification & Monetary Policy," CeNDEF Working Papers 16-03, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    17. Hommes, C.H. & Massaro, D. & Salle, I., 2015. "Monetary and Fiscal Policy Design at the Zero Lower Bound - Evidence from the Lab," CeNDEF Working Papers 15-11, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    18. Gadi Barlevy & Douglas Gale & Franklin Allen, 2017. "On Interest Rate Policy and Asset Bubbles," 2017 Meeting Papers 489, Society for Economic Dynamics.
    19. Adam, Klaus & Evans, George W. & Honkapohja, Seppo, 2006. "Are hyperinflation paths learnable?," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2725-2748, December.

  38. Adam, Klaus, 2003. "On the Relation between Robust and Bayesian Decision Making," CFS Working Paper Series 2003/02, Center for Financial Studies (CFS).

    Cited by:

    1. Luo, Yulei & Nie, Jun & Young, Eric, 2014. "Model Uncertainty and Intertemporal Tax Smoothing," MPRA Paper 54268, University Library of Munich, Germany.
    2. Renaud, J. & Thibault, J. & Lanouette, R. & Kiss, L.N. & Zaras, K. & Fonteix, C., 2007. "Comparison of two multicriteria decision aid methods: Net Flow and Rough Set Methods in a high yield pulping process," European Journal of Operational Research, Elsevier, vol. 177(3), pages 1418-1432, March.
    3. Robert Tetlow & Peter von zur Muehlen, 2004. "Avoiding Nash Inflation: Bayesian and Robus Responses to Model Uncertainty," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(4), pages 869-899, October.
    4. Andrea Lanteri & Albert Marcet & Esther Hauk, 2016. "Optimal Policy with General Signal Extraction," Working Papers 932, Barcelona School of Economics.
    5. Filippo Altissimo & Stefano Siviero & Daniele Terlizzese, 2006. "On Robust Monetary Policy," Chapters, in: Lawrence R. Klein (ed.), Long-run Growth and Short-run Stabilization, chapter 6, Edward Elgar Publishing.
    6. Wieland, Volker & Küster, Keith, 2005. "Insurance Policies for Monetary Policy in the Euro Area," CEPR Discussion Papers 4956, C.E.P.R. Discussion Papers.
    7. Woodford, Michael & Adam, Klaus, 2012. "Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model," CEPR Discussion Papers 8826, C.E.P.R. Discussion Papers.
    8. Bigio, Saki, 2010. "Learning under fear of floating," Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 1923-1950, October.
    9. Pauline Barrieu & Sinclair Desgagn�, 2009. "Economic policy when models disagree," GRI Working Papers 4, Grantham Research Institute on Climate Change and the Environment.
    10. Rama Cont, 2006. "Model uncertainty and its impact on the pricing of derivative instruments," Post-Print halshs-00002695, HAL.
    11. Barrieu, Pauline & Desgagne, Bernard Sinclair, 2009. "Economic policy when models disagree," LSE Research Online Documents on Economics 37607, London School of Economics and Political Science, LSE Library.
    12. Peter Tillmann, 2009. "Optimal Monetary Policy with an Uncertain Cost Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 885-906, August.
    13. Q. Farooq Akram & Yakov Ben-Haim & Øyvind Eitrheim, 2006. "Managing uncertainty through robust-satisficing monetary policy," Working Paper 2006/10, Norges Bank.

  39. Adam, Klaus, 2003. "Optimal Monetary Policy with Imperfect Common Knowledge," CFS Working Paper Series 2003/12, Center for Financial Studies (CFS).

    Cited by:

    1. Paloviita, Maritta, 2007. "Estimating a small DSGE model under rational and measured expectations: some comparisons," Bank of Finland Research Discussion Papers 14/2007, Bank of Finland.
    2. Wei Li & Yulei Luo & Jun Nie, 2015. "Elastic attention, risk sharing, and international comovements," Research Working Paper RWP 15-16, Federal Reserve Bank of Kansas City.
    3. Bernardo Guimaraes & Caio Machado & Marcel Ribeiro, 2016. "A Model of the Confidence Channel of Fiscal Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(7), pages 1363-1395, October.
    4. Rousakis, Michael, 2012. "Expectations and Fluctuations: The Role of Monetary Policy," Economic Research Papers 270655, University of Warwick - Department of Economics.
    5. Wang, Ben Zhe & Sheen, Jeffrey & Trück, Stefan & Chao, Shih-Kang & Härdle, Wolfgang Karl, 2020. "A Note On The Impact Of News On Us Household Inflation Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 24(4), pages 995-1015, June.
    6. Leonardo Melosi & Hiroshi Morita & Anna Rogantini Picco & Francesco Zanetti, 2024. "The Signaling Effects of Fiscal Announcements," Discussion Papers 2436, Centre for Macroeconomics (CFM).
    7. Carvalho, Carlos & Schwartzman, Felipe, 2015. "Selection and monetary non-neutrality in time-dependent pricing models," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 141-156.
    8. Gersbach, Hans & Liu, Yulin & Tischhauser, Martin, 2018. "Versatile Forward Guidance: Escaping or Switching?," CEPR Discussion Papers 12559, C.E.P.R. Discussion Papers.
    9. Cars Hommes & Mario He & Sebastian Poledna & Melissa Siqueira & Yang Zhang, 2022. "CANVAS: A Canadian Behavioral Agent-Based Model," Staff Working Papers 22-51, Bank of Canada.
    10. Levy, Daniel & Lee, Dongwon & Chen, Haipeng (Allan) & Kauffman, Robert & Bergen, Mark, 2007. "Price Points and Price Rigidity," MPRA Paper 1472, University Library of Munich, Germany.
    11. Yulei Luo & Jun Nie & Eric R. Young, 2013. "Robust Control, Informational Frictions, and International Consumption Correlations," Working Papers 212013, Hong Kong Institute for Monetary Research.
    12. Francesco Zanetti & Tatsushi Okuda & Tomohiro Tsuruga, 2019. "Imperfect Information, Shock Heterogeneity, and Inflation Dynamics," Economics Series Working Papers 881, University of Oxford, Department of Economics.
    13. Ryo Kato & Tatsushi Okuda, 2017. "Market Concentration and Sectoral Inflation under Imperfect Common Knowledge," IMES Discussion Paper Series 17-E-11, Institute for Monetary and Economic Studies, Bank of Japan.
    14. Raphael Schoenle & Ernesto Pasten, 2015. "Rational Inattention, Multi-Product Firms and the Neutrality of Money," Working Papers 91, Brandeis University, Department of Economics and International Business School.
    15. Iovino, Luigi & Angeletos, George-Marios & La'O, Jennifer, 2020. "Learning over the Business Cycle: Policy Implications," CEPR Discussion Papers 14577, C.E.P.R. Discussion Papers.
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  40. Klaus Adam, 2003. "Learning to Forecast and Cyclical Behavior of Output and Inflation," Computing in Economics and Finance 2003 297, Society for Computational Economics.

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    1. Shea, Paul, 2015. "Red herrings and revelations: does learning about a new variable worsen forecasts?," Economic Modelling, Elsevier, vol. 49(C), pages 395-406.
    2. George W. Evans & William A. Branch, 2005. "Model Uncertainty and Endogenous Volatility," Computing in Economics and Finance 2005 33, Society for Computational Economics.
    3. Guse, E., 2005. "Learning in a Misspecified Multivariate Self-referential Linear Stochastic Model," Cambridge Working Papers in Economics 0548, Faculty of Economics, University of Cambridge.
    4. Fabio Milani, 2011. "Expectation Shocks and Learning as Drivers of the Business Cycle," Economic Journal, Royal Economic Society, vol. 121(552), pages 379-401, May.
    5. Volha Audzei, 2021. "Learning and Cross-Country Correlations in a Multi-Country DSGE Model," Working Papers 2021/7, Czech National Bank, Research and Statistics Department.
    6. Volha Audzei & Sergey Slobodyan, 2018. "Sparse Restricted Perception Equilibrium," Working Papers 2018/8, Czech National Bank, Research and Statistics Department.
    7. Lengnick, Matthias & Krug, Sebastian & Wohltmann, Hans-Werner, 2012. "Money creation and financial instability: An agent-based credit network approach," Economics Working Papers 2012-15, Christian-Albrechts-University of Kiel, Department of Economics.
    8. Fabio Milani, 2009. "Expectations, Learning, and the Changing Relationship between Oil Prices and the Macroeconomy," Working Papers 080923, University of California-Irvine, Department of Economics.
    9. Tsuruga, Takayuki, 2007. "The hump-shaped behavior of inflation and a dynamic externality," European Economic Review, Elsevier, vol. 51(5), pages 1107-1125, July.
    10. Jeffrey C. Fuhrer, 2018. "Intrinsic expectations persistence: evidence from professional and household survey expectations," Working Papers 18-9, Federal Reserve Bank of Boston.
    11. Milani, Fabio, 2017. "Learning about the interdependence between the macroeconomy and the stock market," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 223-242.
    12. Vázquez, Jesús & Aguilar, Pablo, 2021. "Adaptive learning with term structure information," European Economic Review, Elsevier, vol. 134(C).
    13. Krisztina Molnár & Sergio Santoro, 2010. "Optimal Monetary Policy when Agents are Learning," CESifo Working Paper Series 3072, CESifo.
    14. Klaus Adam & Albert Marcet, 2011. "Internal Rationality, Imperfect Market Knowledge and Asset Prices," CEP Discussion Papers dp1068, Centre for Economic Performance, LSE.
    15. Volha Audzei & Sergey Slobodyan, 2024. "Dynamic Sparse Restricted Perceptions Equilibria," CERGE-EI Working Papers wp792, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    16. Lengnick, Matthias & Wohltmann, Hans-Werner, 2010. "Agent-based financial markets and New Keynesian macroeconomics: A synthesis," Economics Working Papers 2010-10, Christian-Albrechts-University of Kiel, Department of Economics.
    17. Camille Cornand & Frank Heinemann, 2015. "Macro-expérimentation autour des fonctions des banques centrales," Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 3-47.
    18. Sergey Slobodyan & Raf Wouters, 2009. "Learning in an Estimated Medium-Scale DSGE Model," CERGE-EI Working Papers wp396, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    19. Hubert Paul, 2017. "Qualitative and quantitative central bank communication and inflation expectations," The B.E. Journal of Macroeconomics, De Gruyter, vol. 17(1), pages 1-41, January.
    20. Fabio Milani, 2005. "Expectations, Learning and Macroeconomic Persistence," Macroeconomics 0510022, University Library of Munich, Germany.
    21. Guse, Eran A., 2010. "Heterogeneous expectations, adaptive learning, and evolutionary dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 74(1-2), pages 42-57, May.
    22. Fabio Milani, 2009. "Adaptive Learning and Macroeconomic Inertia in the Euro Area," Journal of Common Market Studies, Wiley Blackwell, vol. 47(3), pages 579-599, June.
    23. Jim Granato & Eran Guse & Sunny Wong, 2006. "Learning From the Expectations of Others," Computing in Economics and Finance 2006 449, Society for Computational Economics.
    24. Fabio Milani, 2007. "Political Business Cycles in the New Keynesian Model," Working Papers 070805, University of California-Irvine, Department of Economics.
    25. Rodrigo Caputo & Juan Pablo Medina & Claudio Soto, 2011. "The Financial Accelerator under Learning and the Role of Monetary Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Roberto Chang & Diego Saravia (ed.),Monetary Policy under Financial Turbulence, edition 1, volume 16, chapter 7, pages 185-218, Central Bank of Chile.
    26. Jeffrey C. Fuhrer, 2015. "Expectations as a source of macroeconomic persistence: an exploration of firms' and households' expectation formation," Working Papers 15-5, Federal Reserve Bank of Boston.
    27. Fuhrer, Jeff, 2017. "Expectations as a source of macroeconomic persistence: Evidence from survey expectations in a dynamic macro model," Journal of Monetary Economics, Elsevier, vol. 86(C), pages 22-35.
    28. Paul Hubert, 2014. "Disentangling qualitative and quantitative central bank influence," SciencePo Working papers Main hal-01098464, HAL.
    29. Tiziana Assenza & Peter Heemeijer & Cars Hommes & Domenico Massaro, 2013. "Individual Expectations and Aggregate Macro Behavior," Tinbergen Institute Discussion Papers 13-016/II, Tinbergen Institute.
    30. Lengnick, Matthias & Wohltmann, Hans-Werner, 2014. "Optimal monetary policy in a new Keynesian model with animal spirits and financial markets," Economics Working Papers 2014-12, Christian-Albrechts-University of Kiel, Department of Economics.
    31. Pablo Aguilar & Jesús Vázquez, 2015. "The role of term structure in an estimated DSGE model with learning," LIDAM Discussion Papers IRES 2015007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    32. Jeffrey C. Fuhrer, 2012. "Real expectations: replacing rational expectations with survey expectations in dynamic macro models," Working Papers 12-19, Federal Reserve Bank of Boston.
    33. Branch, William A. & Gasteiger, Emanuel, 2019. "Endogenously (non-)Ricardian beliefs," ECON WPS - Working Papers in Economic Theory and Policy 03/2019, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    34. Fabio Milani, 2009. "The Effect of Global Output on U.S. Inflation and Inflation Expectations: A Structural Estimation," Working Papers 080920, University of California-Irvine, Department of Economics.
    35. Aguilar, Pablo & Vázquez, Jesús, 2021. "An Estimated Dsge Model With Learning Based On Term Structure Information," Macroeconomic Dynamics, Cambridge University Press, vol. 25(7), pages 1635-1665, October.
    36. Milani, Fabio, 2014. "Learning and time-varying macroeconomic volatility," Journal of Economic Dynamics and Control, Elsevier, vol. 47(C), pages 94-114.
    37. Pablo Aguilar & Jesús Vázquez, 2018. "Term structure and real-time learning," Working Papers 1803, Banco de España.
    38. Georges, Christophre & Wallace, John C., 2009. "Learning Dynamics And Nonlinear Misspecification In An Artificial Financial Market," Macroeconomic Dynamics, Cambridge University Press, vol. 13(5), pages 625-655, November.
    39. Marcet, Albert & Adam, Klaus, 2009. "Internal Rationality and Asset Prices," CEPR Discussion Papers 7498, C.E.P.R. Discussion Papers.

  41. Adam, Klaus, 2003. "Optimal Monetary Policy with Imperfect Common Knowledge," CFS Working Paper Series 2003/12, Center for Financial Studies (CFS).

    Cited by:

    1. Paloviita, Maritta, 2007. "Estimating a small DSGE model under rational and measured expectations: some comparisons," Bank of Finland Research Discussion Papers 14/2007, Bank of Finland.
    2. Wei Li & Yulei Luo & Jun Nie, 2015. "Elastic attention, risk sharing, and international comovements," Research Working Paper RWP 15-16, Federal Reserve Bank of Kansas City.
    3. Bernardo Guimaraes & Caio Machado & Marcel Ribeiro, 2016. "A Model of the Confidence Channel of Fiscal Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(7), pages 1363-1395, October.
    4. Rousakis, Michael, 2012. "Expectations and Fluctuations: The Role of Monetary Policy," Economic Research Papers 270655, University of Warwick - Department of Economics.
    5. Wang, Ben Zhe & Sheen, Jeffrey & Trück, Stefan & Chao, Shih-Kang & Härdle, Wolfgang Karl, 2020. "A Note On The Impact Of News On Us Household Inflation Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 24(4), pages 995-1015, June.
    6. Leonardo Melosi & Hiroshi Morita & Anna Rogantini Picco & Francesco Zanetti, 2024. "The Signaling Effects of Fiscal Announcements," Discussion Papers 2436, Centre for Macroeconomics (CFM).
    7. Carvalho, Carlos & Schwartzman, Felipe, 2015. "Selection and monetary non-neutrality in time-dependent pricing models," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 141-156.
    8. Gersbach, Hans & Liu, Yulin & Tischhauser, Martin, 2018. "Versatile Forward Guidance: Escaping or Switching?," CEPR Discussion Papers 12559, C.E.P.R. Discussion Papers.
    9. Cars Hommes & Mario He & Sebastian Poledna & Melissa Siqueira & Yang Zhang, 2022. "CANVAS: A Canadian Behavioral Agent-Based Model," Staff Working Papers 22-51, Bank of Canada.
    10. Levy, Daniel & Lee, Dongwon & Chen, Haipeng (Allan) & Kauffman, Robert & Bergen, Mark, 2007. "Price Points and Price Rigidity," MPRA Paper 1472, University Library of Munich, Germany.
    11. Yulei Luo & Jun Nie & Eric R. Young, 2013. "Robust Control, Informational Frictions, and International Consumption Correlations," Working Papers 212013, Hong Kong Institute for Monetary Research.
    12. Francesco Zanetti & Tatsushi Okuda & Tomohiro Tsuruga, 2019. "Imperfect Information, Shock Heterogeneity, and Inflation Dynamics," Economics Series Working Papers 881, University of Oxford, Department of Economics.
    13. Ryo Kato & Tatsushi Okuda, 2017. "Market Concentration and Sectoral Inflation under Imperfect Common Knowledge," IMES Discussion Paper Series 17-E-11, Institute for Monetary and Economic Studies, Bank of Japan.
    14. Raphael Schoenle & Ernesto Pasten, 2015. "Rational Inattention, Multi-Product Firms and the Neutrality of Money," Working Papers 91, Brandeis University, Department of Economics and International Business School.
    15. Iovino, Luigi & Angeletos, George-Marios & La'O, Jennifer, 2020. "Learning over the Business Cycle: Policy Implications," CEPR Discussion Papers 14577, C.E.P.R. Discussion Papers.
    16. Wataru Tamura, 2016. "Optimal Monetary Policy and Transparency under Informational Frictions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(6), pages 1293-1314, September.
    17. Hyun Song Shin & Jeffery D. Amato, 2003. "Public and Private Information in Monetary Policy Models," Computing in Economics and Finance 2003 38, Society for Computational Economics.
    18. Paloviita, Maritta, 2008. "Estimating open economy Phillips curves for the euro area with directly measured expectations," Bank of Finland Research Discussion Papers 16/2008, Bank of Finland.
    19. Luigi Paciello, 2012. "Monetary Policy and Price Responsiveness to Aggregate Shocks under Rational Inattention," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(7), pages 1375-1399, October.
    20. Ricardo Reis, 2009. "A Sticky-Information General-Equilibrium Model for Policy Analysis," NBER Working Papers 14732, National Bureau of Economic Research, Inc.
    21. Camille Cornand & Frank Heinemann, 2022. "Monetary policy obeying the Taylor principle turns prices into strategic substitutes," Post-Print halshs-02354324, HAL.
    22. J. Daniel Aromí & Martín Llada, 2024. "Are professional forecasters inattentive to public discussions about inflation? The case of Argentina," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(7), pages 2572-2587, November.
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    25. Ichiro Fukunaga, 2007. "Imperfect Common Knowledge, Staggered Price Setting, and the Effects of Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1711-1739, October.
    26. Elton Beqiraj & Giovanni Di Bartolomeo & Marco Di Pietro & Carolina Serpieri, 2018. "Bounded-rationality and heterogeneous agents: Long or short forecasters?," JRC Research Reports JRC111392, Joint Research Centre.
    27. Romain Baeriswyl & Camille Cornand, 2007. "Monetary policy and its informative value," Proceedings, Federal Reserve Bank of San Francisco, issue March, pages 1-34.
    28. Jonathan G James & Phillip Lawler, 2017. "Optimal Transparency and Policy Intervention with Heterogeneous Signals and Information Stickiness," Manchester School, University of Manchester, vol. 85(5), pages 577-600, September.
    29. Guido Lorenzoni, 2006. "A Theory of Demand Shocks," NBER Working Papers 12477, National Bureau of Economic Research, Inc.
    30. Jenny Tang, 2013. "Uncertainty and the signaling channel of monetary policy," Working Papers 15-8, Federal Reserve Bank of Boston.
    31. Péter Kondor, 2009. "The more we know, the less we agree: Higher-order expectations and public announcements," 2009 Meeting Papers 1018, Society for Economic Dynamics.
    32. Yulei Luo, 2024. "Consumption Dynamics under Information Processing Constraints," CEMA Working Papers 622, China Economics and Management Academy, Central University of Finance and Economics.
    33. Camille Cornand & Romain Baeriswyl & Bruno Ziliotto, 2019. "Observing and shaping the market: the dilemma of central banks," Post-Print hal-01644269, HAL.
    34. Camille Cornand & Rodolphe Dos Santos Ferreira, 2021. "Central bank's stabilization and communication policies when firms have motivated overconfidence in their own information accuracy or processing," Working Papers of BETA 2021-49, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    35. Chen, Haipeng (Allan) & Levy, Daniel & Ray, Sourav & Bergen, Mark, 2008. "Asymmetric Price Adjustment in the Small," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 55(4), pages 728-737.
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    37. Mankiw, N. Gregory & Reis, Ricardo, 2010. "Imperfect Information and Aggregate Supply," Scholarly Articles 33907956, Harvard University Department of Economics.
    38. Baeriswyl, Romain & Cornand, Camille, 2010. "The signaling role of policy actions," Journal of Monetary Economics, Elsevier, vol. 57(6), pages 682-695, September.
    39. Alexandre Kohlhas, 2018. "Asymmetric Attention," 2018 Meeting Papers 1040, Society for Economic Dynamics.
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    50. Iovino, Luigi & La’O, Jennifer & Mascarenhas, Rui, 2022. "Optimal monetary policy and disclosure with an informationally-constrained central banker," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 151-172.
    51. S. Borağan Aruoba & Thomas Drechsel, 2024. "The Long and Variable Lags of Monetary Policy: Evidence from Disaggregated Price Indices," NBER Working Papers 32623, National Bureau of Economic Research, Inc.
    52. Huo, Zhen & Pedroni, Marcelo, 2023. "Dynamic information aggregation: Learning from the past," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 107-124.
    53. Jean-Paul L'Huillier & William R. Zame, 2015. "The Flattening of the Phillips Curve and the Learning Problem of the Central Bank," EIEF Working Papers Series 1503, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2014.
    54. Chengcheng Jia, 2019. "Forward Guidance under Imperfect Information: Instrument Based or State Contingent?," Working Papers 19-22, Federal Reserve Bank of Cleveland.
    55. Benhima, Kenza, 2019. "Booms and busts with dispersed information," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 32-47.
    56. Di Bartolomeo, Giovanni & Beqiraj, Elton & Di Pietro, Marco, 2017. "Beliefs formation and the puzzle of forward guidance power," EconStor Preprints 175198, ZBW - Leibniz Information Centre for Economics.
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    58. Berkelmans, Leon, 2011. "Imperfect information, multiple shocks, and policy's signaling role," Journal of Monetary Economics, Elsevier, vol. 58(4), pages 373-386.
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    61. Hommes, Cars & He, Mario & Poledna, Sebastian & Siqueira, Melissa & Zhang, Yang, 2025. "CANVAS: A Canadian behavioral agent-based model for monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 172(C).
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    67. Luca Colombo & Gianluca Femminis & Alessandro Pavan, 2012. "Information Acquisition and Welfare," Discussion Papers 1554, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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    73. William Branch & John Carlson & George W. Evans & Bruce McGough, 2006. "Monetary Policy, Endogenous Inattention, and the Volatility Trade-off," 2006 Meeting Papers 106, Society for Economic Dynamics.
    74. Baeriswyl, Romain & Cornand, Camille, 2007. "Can Opacity of a Credible Central Bank Explain Excessive Inflation?," Discussion Papers in Economics 1376, University of Munich, Department of Economics.
    75. Levine, P. & Pearlman, J. & Yang, B., 2013. "Imperfection Information, Optimal Monetary Policy and Informational Consistency," Working Papers 13/13, Department of Economics, City University London.
    76. Zhe Li & Miquel Faig, 2007. "The Welfare Cost of Expected and Unexpected Inflation," 2007 Meeting Papers 125, Society for Economic Dynamics.
    77. Luigi Iovino & Jennifer La'O & George-Marios Angeletos, 2016. "Efficiency and Policy with Endogenous Learning," 2016 Meeting Papers 229, Society for Economic Dynamics.
    78. Pierpaolo Benigno & Anastasios G. Karantounias, 2017. "Overconfidence, Subjective Perception, and Pricing Behavior," FRB Atlanta Working Paper 2017-14, Federal Reserve Bank of Atlanta.
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    82. Elena Violeta, Dragoi & Oana-Mihaela, Ilie, 2016. "Nbr'S Monetary Policy And Its Implications On Economic Growth," Management Strategies Journal, Constantin Brancoveanu University, vol. 34(4), pages 115-123.
    83. Lena Draeger, 2011. "Endogenous persistence with recursive inattentiveness," KOF Working papers 11-285, KOF Swiss Economic Institute, ETH Zurich.
    84. Leonardo Melosi, 2011. "Public's Inflation Expectations and Monetary Policy," 2011 Meeting Papers 1151, Society for Economic Dynamics.
    85. Maritta Paloviita, 2008. "Comparing alternative Phillips curve specifications: European results with survey-based expectations," Applied Economics, Taylor & Francis Journals, vol. 40(17), pages 2259-2270.
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    92. Baeriswyl, Romain, 2007. "Central Bank's Action and Communication," Discussion Papers in Economics 1381, University of Munich, Department of Economics.
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    97. Pablo Aguilar & Jesús Vázquez, 2015. "The role of term structure in an estimated DSGE model with learning," LIDAM Discussion Papers IRES 2015007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    98. Nimark, Kristoffer, 2008. "Dynamic pricing and imperfect common knowledge," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 365-382, March.
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    102. Leonardo Melosi, 2009. "A Likelihood Analysis of Models with Information Frictions," PIER Working Paper Archive 09-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    103. Isabella Blengini & Kenza Benhima, 2016. "Optimal Monetary Policy when Information is Market-Generated," 2016 Meeting Papers 1223, Society for Economic Dynamics.
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    113. Rousakis, Michael, 2012. "Expectations and Fluctuations : The Role of Monetary Policy," The Warwick Economics Research Paper Series (TWERPS) 984, University of Warwick, Department of Economics.
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  42. Klaus Adam & George W. Evans & Seppo Honkapoja, 2003. "Are Stationary Hyperinflation Paths Learnable?," CESifo Working Paper Series 936, CESifo.

    Cited by:

    1. Guse, E., 2005. "Learning in a Misspecified Multivariate Self-referential Linear Stochastic Model," Cambridge Working Papers in Economics 0548, Faculty of Economics, University of Cambridge.
    2. McCallum, Bennett T., 2007. "E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1376-1391, April.
    3. Martin Ellison & Joseph Pearlman, 2010. "Saddlepath Learning," Economics Series Working Papers 505, University of Oxford, Department of Economics.
    4. Stefano Eusepi, 2005. "Central bank transparency under model uncertainty," Staff Reports 199, Federal Reserve Bank of New York.

  43. Klaus Adam & Mario Padula, 2002. "Inflation Dynamics and Subjective Expectations in the United States," CSEF Working Papers 78, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 02 Jun 2009.

    Cited by:

    1. Stockhammar, Pär & Österholm, Pär, 2016. "Do Inflation Expectations Granger Cause Inflation?," Working Papers 145, National Institute of Economic Research.
    2. Paul Hubert & Giovanni Ricco, 2018. "Imperfect information in macroeconomics," Post-Print hal-03458122, HAL.
    3. Katarína Danišková & Jarko Fidrmuc, 2011. "Inflation Convergence and the New Keynesian Phillips Curve in the Czech Republic," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 5(2), pages 099-115, August.
    4. Marcelle, Chauvet & Insu, Kim, 2019. "Incomplete Price Adjustment and Inflation Persistence," MPRA Paper 97497, University Library of Munich, Germany, revised 04 Dec 2019.
    5. Paul Hubert & Harun Mirza, 2014. "Inflation expectation dynamics:the role of past, present and forward looking information," Documents de Travail de l'OFCE 2014-07, Observatoire Francais des Conjonctures Economiques (OFCE).
    6. Abbas, Syed K. & Bhattacharya, Prasad Sankar & Sgro, Pasquale, 2016. "The new Keynesian Phillips curve: An update on recent empirical advances," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 378-403.
    7. Cornea, A. & Hommes, C.H. & Massaro, D., 2012. "Behavioral Heterogeneity in U.S. Inflation Dynamics," CeNDEF Working Papers 12-03, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    8. Batabyal, Sourav & Islam, Faridul & Khaznaji, Maher, 2018. "On the sources of the Great Moderation: Role of monetary policy and intermediate inputs," Economic Modelling, Elsevier, vol. 74(C), pages 1-9.
    9. Olivier Coibion & Yuriy Gorodnichenko & Rupal Kamdar, 2017. "The Formation of Expectations, Inflation and the Phillips Curve," NBER Working Papers 23304, National Bureau of Economic Research, Inc.
    10. Paul Hubert & Harun Mirza, 2019. "The role of forward- and backward-looking information for inflation expectations formation," SciencePo Working papers Main hal-03403616, HAL.
    11. Maritta Paloviita & Matti Viren, 2013. "Are individual survey expectations internally consistent?," NBP Working Papers 140, Narodowy Bank Polski.
    12. Sergeyev, Dmitriy & Gorodnichenko, Yuriy, 2021. "Zero Lower Bound on Inflation Expectations," CEPR Discussion Papers 16729, C.E.P.R. Discussion Papers.
    13. Altug, Sumru & Çakmaklı, Cem, 2015. "Forecasting Inflation using Survey Expectations and Target Inflation: Evidence for Brazil and Turkey," CEPR Discussion Papers 10419, C.E.P.R. Discussion Papers.
    14. Lieven Baele & et al., 2012. "Macroeconomic Regimes," Faculty Working Papers 03/12, School of Economics and Business Administration, University of Navarra.
    15. Ignazio Angeloni & Luc Aucremanne & Michael Ehrmann & Andrew Levin & Frank Smets & Jordi Galí, 2015. "New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modelling," Working Papers 242, Barcelona School of Economics.
    16. Jeffrey C. Fuhrer, 2018. "Intrinsic expectations persistence: evidence from professional and household survey expectations," Working Papers 18-9, Federal Reserve Bank of Boston.
    17. Franz Xaver Zobl & Martin Ertl, 2021. "The Condemned Live Longer – New Evidence of the New Keynesian Phillips Curve in Central and Eastern Europe," Open Economies Review, Springer, vol. 32(4), pages 671-699, September.
    18. Sumru Altug & Cem Cakmakli, 2014. "Inflation Targeting and Inflation Expectations: Evidence for Brazil and Turkey," Koç University-TUSIAD Economic Research Forum Working Papers 1413, Koc University-TUSIAD Economic Research Forum.
    19. Mavroeidis, Sophocles & Plagborg-Moller, Mikkel & Stock, James H., 2014. "Empirical Evidence on Inflation Expectations in the New Keynesian Phillips Curve," Scholarly Articles 22795845, Harvard University Department of Economics.
    20. Mr. Philip Barrett & Jonathan J. Adams, 2022. "Shocks to Inflation Expectations," IMF Working Papers 2022/072, International Monetary Fund.
    21. Hubert, Paul & Maule, Becky, 2016. "Policy and macro signals as inputs to inflation expectation formation," Bank of England working papers 581, Bank of England.
    22. Gerunov, Anton, 2014. "Критичен Преглед На Основните Подходи За Моделиране На Икономическите Очаквания [A Critical Review of Major Approaches for Modeling Economic Expectations]," MPRA Paper 68797, University Library of Munich, Germany.
    23. Hubert Paul, 2017. "Qualitative and quantitative central bank communication and inflation expectations," The B.E. Journal of Macroeconomics, De Gruyter, vol. 17(1), pages 1-41, January.
    24. Kim, Insu & Kim, Young Se, 2019. "Inattentive agents and inflation forecast error dynamics: A Bayesian DSGE approach," Journal of Macroeconomics, Elsevier, vol. 62(C).
    25. Kevin J. Lansing, 2006. "Time-Varying U.S. Inflation Dynamics and the New Keynesian Phillips Curve," Computing in Economics and Finance 2006 488, Society for Computational Economics.
    26. Ormeño, Arturo, 2012. "Using Survey Data on Inflation Expectations in the Estimation of Learning and Rational Expectations Models," Working Papers 2012-007, Banco Central de Reserva del Perú.
    27. Johanna Amberger & Ralf Fendel, 2017. "Understanding inflation dynamics in the Euro Area: deviants and commonalities across member countries," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(2), pages 261-293, May.
    28. Cole, Stephen J. & Milani, Fabio, 2019. "The Misspecification Of Expectations In New Keynesian Models: A Dsge-Var Approach," Macroeconomic Dynamics, Cambridge University Press, vol. 23(3), pages 974-1007, April.
    29. Vicente da Gama Machado & Marcelo Savino Portugal, 2014. "Phillips curve in Brazil: an unobserved components approach," Working Papers Series 354, Central Bank of Brazil, Research Department.
    30. Wilbert van der Klaauw & Wandi Bruine de Bruin & Giorgio Topa & Basit Zafar & Olivier Armantier, 2012. "Inflation Expectations and Behavior: Do Survey Respondents Act on their Beliefs?," 2012 Meeting Papers 121, Society for Economic Dynamics.
    31. Carlos Madeira & Basit Zafar, 2015. "Heterogeneous Inflation Expectations and Learning," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(5), pages 867-896, August.
    32. Travis J. Berge, 2017. "Understanding Survey Based Inflation Expectations," Finance and Economics Discussion Series 2017-046, Board of Governors of the Federal Reserve System (U.S.).
    33. Binder, Carola Conces & Kamdar, Rupal & Ryngaert, Jane M., 2024. "Partisan expectations and COVID-era inflation," Journal of Monetary Economics, Elsevier, vol. 148(S).
    34. Luis J. Álvarez & Mónica Correa-López, 2020. "Inflation expectations in euro area Phillips curves," Occasional Papers 2018, Banco de España.
    35. Maritta Paloviita and Matti Viren, 2012. "Analyzing the relationships between survey forecasts for different variables and countries," Discussion Papers 76, Aboa Centre for Economics.
    36. Harun Mirza & Lidia Storjohann, 2014. "Making Weak Instrument Sets Stronger: Factor‐Based Estimation of Inflation Dynamics and a Monetary Policy Rule," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(4), pages 643-664, June.
    37. Hasenzagl, Thomas & Pellegrino, Filippo & Reichlin, Lucrezia & Ricco, Giovanni, 2017. "A Model of the Fed’s View on Inflation," The Warwick Economics Research Paper Series (TWERPS) 1145, University of Warwick, Department of Economics.
    38. Christian Pierdzioch & Monique B. Reid & Rangan Gupta, 2014. "On the Directional Accuracy of Inflation Forecasts: Evidence from South African Survey Data," Working Papers 201463, University of Pretoria, Department of Economics.
    39. Ya-Wen Lai, 2017. "Output gaps and the New Keynesian Phillips curve: An application of the Empirical Mode Decomposition," Economics Bulletin, AccessEcon, vol. 37(2), pages 952-961.
    40. Stefano Eusepi & Richard Crump & Emanuel Moench & Philippe Andrade, 2014. "Noisy Information and Fundamental Disagreement," 2014 Meeting Papers 797, Society for Economic Dynamics.
    41. Karlyn Mitchell & Douglas K. Pearce, 2017. "Direct Evidence on Sticky Information from the Revision Behavior of Professional Forecasters," Southern Economic Journal, John Wiley & Sons, vol. 84(2), pages 637-653, October.
    42. Yingying XU & Zhixin LIU & Jaime ORTIZ, 2018. "Actual and Expected Inflation in the U.S.: A Time-Frequency View," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 42-62, December.
    43. Byeongdeuk Jang & Young Se Kim, 2017. "Driving Forces of Inflation Expectations," Korean Economic Review, Korean Economic Association, vol. 33, pages 207-237.
    44. Schmidt, Torsten, 2018. "Inflation Expectation Uncertainty, Inflation and the Outputgap," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181575, Verein für Socialpolitik / German Economic Association.
    45. Philippe Andrade & Richard K. Crump & Stefano Eusepi & Emanuel Moench, 2013. "Fundamental disagreement," Staff Reports 655, Federal Reserve Bank of New York.
    46. Richhild Moessner, 2021. "Effects of Inflation Expectations on Inflation," CESifo Working Paper Series 9467, CESifo.
    47. Zhao Han & Xiaohan Ma & Ruoyun Mao, 2023. "The Role of Dispersed Information in Inflation and Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 72-106, April.
    48. Aguiar-Conraria, Luís & Martins, Manuel M.F. & Soares, Maria Joana, 2023. "The Phillips curve at 65: Time for time and frequency," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    49. Omer Bayar, 2022. "Reducing large datasets to improve the identification of estimated policy rules," Empirical Economics, Springer, vol. 63(1), pages 113-140, July.
    50. Özer Karagedikli & Dr John McDermott, 2016. "Inflation expectations and low inflation in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2016/09, Reserve Bank of New Zealand.
    51. Jeffrey C. Fuhrer, 2011. "Inflation expectations and the evolution of U. S. inflation," Public Policy Brief, Federal Reserve Bank of Boston.
    52. Cars Hommes & Kostas Mavromatis & Tolga Özden & Mei Zhu, 2023. "Behavioral learning equilibria in New Keynesian models," Quantitative Economics, Econometric Society, vol. 14(4), pages 1401-1445, November.
    53. Tomohide Mineyama, 2023. "Downward Nominal Wage Rigidity and Inflation Dynamics during and after the Great Recession," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(5), pages 1213-1244, August.
    54. Jeffrey C. Fuhrer, 2015. "Expectations as a source of macroeconomic persistence: an exploration of firms' and households' expectation formation," Working Papers 15-5, Federal Reserve Bank of Boston.
    55. Fuhrer, Jeff, 2017. "Expectations as a source of macroeconomic persistence: Evidence from survey expectations in a dynamic macro model," Journal of Monetary Economics, Elsevier, vol. 86(C), pages 22-35.
    56. Young Se Kim & Byeongdeuk Jang, 2015. "Dispersion of Inflation Expectations: Stylized Facts, Puzzles, and Macroeconomic Implications," Korean Economic Review, Korean Economic Association, vol. 31, pages 89-119.
    57. Carola Binder & Rupal Kamdar, 2022. "Expected and Realized Inflation in Historical Perspective," Journal of Economic Perspectives, American Economic Association, vol. 36(3), pages 131-156, Summer.
    58. Paul Hubert, 2014. "Disentangling qualitative and quantitative central bank influence," SciencePo Working papers Main hal-01098464, HAL.
    59. Caprioli, Francesco, 2015. "Optimal fiscal policy under learning," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 101-124.
    60. Christian Pierdzioch & Monique B. Reid & Rangan Gupta, 2014. "Inflation Forecasts and Forecaster Herding: Evidence from South African Survey Data," Working Papers 21/2014, Stellenbosch University, Department of Economics.
    61. Alexander Doser & Ricardo Nunes & Nikhil Rao & Viacheslav Sheremirov, 2023. "Inflation expectations and nonlinearities in the Phillips curve," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(4), pages 453-471, June.
    62. Wellmann, Susanne, 2023. "The Phillips curve in the euro area: New evidence using country-level data," University of Tübingen Working Papers in Business and Economics 156, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    63. Kortelainen, Mika & Paloviita, Maritta & Viren, Matti, 2016. "How useful are measured expectations in estimation and simulation of a conventional small New Keynesian macro model?," Economic Modelling, Elsevier, vol. 52(PB), pages 540-550.
    64. McNeil, James, 2023. "Monetary policy and the term structure of inflation expectations with information frictions," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    65. Clements, Michael P., 2024. "Do professional forecasters believe in the Phillips curve?," International Journal of Forecasting, Elsevier, vol. 40(3), pages 1238-1254.
    66. Andres Sanchez-Jabba & Erick Villabon-Hinestroz & Bernardo Romero-Torres, 2023. "Inflation Expectations Measurement and its Effect on Inflation Dynamics in Colombia," Borradores de Economia 1257, Banco de la Republica de Colombia.
    67. Christina Anderl & Guglielmo Maria Caporale, 2023. "Functional Shocks to Inflation Expectations and Real Interest Rates and Their Macroeconomic Effects," CESifo Working Paper Series 10656, CESifo.
    68. Damjan Pfajfar & Emiliano Santoro, 2007. "Heterogeneity, Asymmetries and Learning in InfIation Expectation Formation: An Empirical Assessment," Money Macro and Finance (MMF) Research Group Conference 2006 123, Money Macro and Finance Research Group.
    69. Lee, Dong Jin & Yoon, Jai Hyung, 2016. "The New Keynesian Phillips Curve in multiple quantiles and the asymmetry of monetary policy," Economic Modelling, Elsevier, vol. 55(C), pages 102-114.
    70. Oinonen, Sami & Vilmi, Lauri, 2021. "Analysing euro area inflation outlook with the Phillips curve," BoF Economics Review 5/2021, Bank of Finland.
    71. Jeffrey C. Fuhrer, 2012. "Real expectations: replacing rational expectations with survey expectations in dynamic macro models," Working Papers 12-19, Federal Reserve Bank of Boston.
    72. Jarko Fidrmuc & Katarína Danišková, 2020. "Meta-Analysis of the New Keynesian Phillips Curve in Developed and Emerging Economies," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(1), pages 10-31, January.
    73. Del Negro, Marco & Eusepi, Stefano, 2011. "Fitting observed inflation expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 35(12), pages 2105-2131.
    74. Gimeno, Ricardo & Ibáñez, Alfredo, 2018. "The eurozone (expected) inflation: An option's eyes view," Journal of International Money and Finance, Elsevier, vol. 86(C), pages 70-92.
    75. Marcus Giamattei, 2022. "Can Cold Turkey Reduce Inflation Inertia? Evidence on Disinflation and Level‐k Thinking from a Laboratory Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(8), pages 2477-2517, December.
    76. Andres Sanchez-Jabba & Erick Villabon-Hinestroza, 2024. "The measure matters: differences in the passthrough of inflation expectations in Colombia," BIS Working Papers 1205, Bank for International Settlements.
    77. Kortelainen, Mika & Paloviita, Maritta & Viren, Matti, 2011. "Observed inflation forecasts and the new Keynesian macro model," Economics Letters, Elsevier, vol. 112(1), pages 88-90, July.
    78. Fabio Milani, 2005. "Adaptive Learning and Inflation Persistence," Macroeconomics 0506013, University Library of Munich, Germany.
    79. Víctor López-Pérez, 2017. "Do professional forecasters behave as if they believed in the New Keynesian Phillips Curve for the euro area?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(1), pages 147-174, February.
    80. Oinonen, Sami & Paloviita, Maritta & Vilmi, Lauri, 2013. "How have inflation dynamics changed over time? Evidence from the euro area and USA," Bank of Finland Research Discussion Papers 6/2013, Bank of Finland.
    81. Dong Jin Lee & Jai Hyung Yoon, 2012. "The New Keynesian Phillips Curves in Multiple Quantiles and the Asymmetry of Monetary Policy," Working papers 2012-03, University of Connecticut, Department of Economics.

  44. Klaus Adam, 2001. "Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky," CSEF Working Papers 69, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.

    Cited by:

    1. Adam, Klaus & Marcet, Albert & Nicolini, Juan Pablo, 2011. "Stock market volatility and learning," LSE Research Online Documents on Economics 121739, London School of Economics and Political Science, LSE Library.

  45. Adam, K., 2000. "Adaptive Learning and the Cyclical Behavior of Output and Inflation," Economics Working Papers eco2000/25, European University Institute.

    Cited by:

    1. Klaus Adam, 2004. "Should macroeconomists consider restricted perception equilibria? Evidence from the experimental laboratory," Computing in Economics and Finance 2004 338, Society for Computational Economics.
    2. Klaus Adam, 2003. "Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(4), pages 887-907.

  46. Adam, K., 1999. "Learning While Searching for the Beat Alternative," Economics Working Papers eco99/4, European University Institute.

    Cited by:

    1. Sanjiv Erat & Stylianos Kavadias, 2008. "Sequential Testing of Product Designs: Implications for Learning," Management Science, INFORMS, vol. 54(5), pages 956-968, May.
    2. Ashish Agarwal & Tridas Mukhopadhyay, 2016. "The Impact of Competing Ads on Click Performance in Sponsored Search," Information Systems Research, INFORMS, vol. 27(3), pages 538-557.
    3. Yizhaq Minchuk & Aner Sela, 2015. "Asymmetric Sequential Search under Incomplete Information," Working Papers 1510, Ben-Gurion University of the Negev, Department of Economics.
    4. Bart J. Bronnenberg & Jun B. Kim & Carl F. Mela, 2016. "Zooming In on Choice: How Do Consumers Search for Cameras Online?," Marketing Science, INFORMS, vol. 35(5), pages 693-712, September.
    5. Deishin Lee & Eric Van den Steen, 2010. "Managing Know-How," Management Science, INFORMS, vol. 56(2), pages 270-285, February.
    6. Gerald Häubl & Benedict G. C. Dellaert & Bas Donkers, 2010. "Tunnel Vision: Local Behavioral Influences on Consumer Decisions in Product Search," Marketing Science, INFORMS, vol. 29(3), pages 438-455, 05-06.
    7. Hector Chade & Jan Eeckhout & Lones Smith, 2017. "Sorting through Search and Matching Models in Economics," Journal of Economic Literature, American Economic Association, vol. 55(2), pages 493-544, June.
    8. Ke, T. Tony & Villas-Boas, J. Miguel, 2019. "Optimal learning before choice," Journal of Economic Theory, Elsevier, vol. 180(C), pages 383-437.
    9. Klaus Adam, 2001. "Competitive Prices in Markets with Search and Information Frictions," CSEF Working Papers 55, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    10. Marcoul, Philippe & Weninger, Quinn, 2008. "Search and active learning with correlated information: Empirical evidence from mid-Atlantic clam fishermen," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1921-1948, June.
    11. Fan, Ying & Fu, Yuqi & Yang, Zan & Chen, Ming, 2024. "Search frictions in rental markets: Evidence from urban China," China Economic Review, Elsevier, vol. 83(C).
    12. Andrew Y. Chen, 2021. "The Limits of p‐Hacking: Some Thought Experiments," Journal of Finance, American Finance Association, vol. 76(5), pages 2447-2480, October.
    13. Marcel Preuss, 2023. "Search, learning, and tracking," RAND Journal of Economics, RAND Corporation, vol. 54(1), pages 54-82, March.
    14. Martino Banchio & Suraj Malladi, 2025. "Rediscovery," Papers 2504.19761, arXiv.org.
    15. Greminger, Rafael, 2019. "Optimal Search and Awareness Expansion," Other publications TiSEM ac47e6ff-42a4-4d70-addd-6, Tilburg University, School of Economics and Management.
    16. Daria Dzyabura & John R. Hauser, 2019. "Recommending Products When Consumers Learn Their Preference Weights," Marketing Science, INFORMS, vol. 38(3), pages 417-441, May.
    17. Rafael P. Greminger, 2022. "Optimal Search and Discovery," Management Science, INFORMS, vol. 68(5), pages 3904-3924, May.
    18. Greminger, Rafael, 2019. "Optimal Search and Awareness Expansion," Discussion Paper 2019-034, Tilburg University, Center for Economic Research.
    19. Akiko Maruyama, 2018. "One-sided learning about one fs own type in a two-sided search model: The case of n types of agents," GRIPS Discussion Papers 18-15, National Graduate Institute for Policy Studies.
    20. Akiko Maruyama, 2016. "One-sided learning about one's own type in a two-sided search model," GRIPS Discussion Papers 15-26, National Graduate Institute for Policy Studies.
    21. Charles Hodgson & Gregory Lewis, 2020. "You Can Lead a Horse to Water: Spatial Learning and Path Dependence in Consumer Search," Cowles Foundation Discussion Papers 2246, Cowles Foundation for Research in Economics, Yale University.
    22. Fan, Ying & Fu, Yuqi & Yang, Zan & Chen, Ming, 2023. "Search Frictions in Rental Markets: Evidence from Urban China," Working Paper Series 23/11, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
    23. Rafael P. Greminger, 2019. "Optimal Search and Discovery," Papers 1911.07773, arXiv.org, revised Feb 2022.
    24. Akiko Maruyama, 2013. "Learning about one's own type: a search model with two-sided uncertainty," GRIPS Discussion Papers 12-24, National Graduate Institute for Policy Studies.

Articles

  1. Klaus Adam & Henning Weber, 2023. "Estimating the Optimal Inflation Target from Trends in Relative Prices," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(3), pages 1-42, July.
    See citations under working paper version above.
  2. Adam, Klaus & Gautier, Erwan & Santoro, Sergio & Weber, Henning, 2022. "The case for a positive euro area inflation target: Evidence from france, germany and italy," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 140-153.
    See citations under working paper version above.
  3. Adam, Klaus & Matveev, Dmitry & Nagel, Stefan, 2021. "Do survey expectations of stock returns reflect risk adjustments?," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 723-740.
    See citations under working paper version above.
  4. Adam, Klaus & Woodford, Michael, 2021. "Robustly optimal monetary policy in a new Keynesian model with housing," Journal of Economic Theory, Elsevier, vol. 198(C).
    See citations under working paper version above.
  5. Klaus Adam & Henning Weber, 2019. "Optimal Trend Inflation," American Economic Review, American Economic Association, vol. 109(2), pages 702-737, February.
    See citations under working paper version above.
  6. Klaus Adam & Michael Grill, 2017. "Optimal Sovereign Default," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(1), pages 128-164, January.
    See citations under working paper version above.
  7. Klaus Adam & Albert Marcet & Johannes Beutel, 2017. "Stock Price Booms and Expected Capital Gains," American Economic Review, American Economic Association, vol. 107(8), pages 2352-2408, August.
    See citations under working paper version above.
  8. Klaus Adam & Junyi Zhu, 2016. "Price-Level Changes And The Redistribution Of Nominal Wealth Across The Euro Area," Journal of the European Economic Association, European Economic Association, vol. 14(4), pages 871-906, August.
    See citations under working paper version above.
  9. Adam, Klaus & Tzamourani, Panagiota, 2016. "Distributional consequences of asset price inflation in the Euro Area," European Economic Review, Elsevier, vol. 89(C), pages 172-192.
    See citations under working paper version above.
  10. Klaus Adam & Albert Marcet & Juan Pablo Nicolini, 2016. "Stock Market Volatility and Learning," Journal of Finance, American Finance Association, vol. 71(1), pages 33-82, February.
    See citations under working paper version above.
  11. Adam, Klaus & Beutel, Johannes & Marcet, Albert & Merkel, Sebastian, 2015. "Can a financial transaction tax prevent stock price booms?," Journal of Monetary Economics, Elsevier, vol. 76(S), pages 90-109.
    See citations under working paper version above.
  12. Adam, Klaus & Billi, Roberto M., 2014. "Distortionary fiscal policy and monetary policy goals," Economics Letters, Elsevier, vol. 122(1), pages 1-6.
    See citations under working paper version above.
  13. Klaus Adam & Pei Kuang & Albert Marcet, 2012. "House Price Booms and the Current Account," NBER Macroeconomics Annual, University of Chicago Press, vol. 26(1), pages 77-122.
    See citations under working paper version above.
  14. Adam, Klaus & Woodford, Michael, 2012. "Robustly optimal monetary policy in a microfounded New Keynesian model," Journal of Monetary Economics, Elsevier, vol. 59(5), pages 468-487.
    See citations under working paper version above.
  15. Klaus Adam & Mario Padula, 2011. "Inflation Dynamics And Subjective Expectations In The United States," Economic Inquiry, Western Economic Association International, vol. 49(1), pages 13-25, January.
    See citations under working paper version above.
  16. Adam, Klaus & Marcet, Albert, 2011. "Internal rationality, imperfect market knowledge and asset prices," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1224-1252, May.
    See citations under working paper version above.
  17. Adam, Klaus, 2011. "Government debt and optimal monetary and fiscal policy," European Economic Review, Elsevier, vol. 55(1), pages 57-74, January.
    See citations under working paper version above.
  18. Adam, Klaus, 2009. "Monetary policy and aggregate volatility," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 1-18.

    Cited by:

    1. Stefan Collignon, 2024. "The Tale of Two Economies: Inflationary Dynamics in the Euro Area and the US in the Context of Uncertainty," Economies, MDPI, vol. 12(7), pages 1-27, June.
    2. Paul Hubert, 2015. "ECB Projections as a tool for understanding policy decisions," Post-Print hal-03399287, HAL.
    3. Gaetano Gaballo, 2012. "Good Luck or Good Policy? An Expectational Theory of Macro-Volatility Switches," Working papers 402, Banque de France.
    4. Raphael Schoenle & Ernesto Pasten, 2015. "Rational Inattention, Multi-Product Firms and the Neutrality of Money," Working Papers 91, Brandeis University, Department of Economics and International Business School.
    5. McNown, Robert & Seip, Knut Lehre, 2011. "Periods and structural breaks in US economic history 1959-2007," Journal of Policy Modeling, Elsevier, vol. 33(2), pages 169-182, March.
    6. Macaulay, Alistair, 2021. "The attention trap: Rational inattention, inequality, and fiscal policy," European Economic Review, Elsevier, vol. 135(C).
    7. Paul Hubert, 2015. "The effect of interest rate and communication shocks on private inflation expectations," Working papers wpaper122, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    8. Mankiw, N. Gregory & Reis, Ricardo, 2010. "Imperfect Information and Aggregate Supply," Scholarly Articles 33907956, Harvard University Department of Economics.
    9. Hubert, Paul & Maule, Becky, 2016. "Policy and macro signals as inputs to inflation expectation formation," Bank of England working papers 581, Bank of England.
    10. Fang Zhang, 2017. "Rational Inattention in Uncertain Business Cycles," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(1), pages 215-253, February.
    11. Leonardo Melosi, 2017. "Signalling Effects of Monetary Policy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(2), pages 853-884.
    12. Lena Draeger, 2011. "Endogenous persistence with recursive inattentiveness," KOF Working papers 11-285, KOF Swiss Economic Institute, ETH Zurich.
    13. Zhang, Fang, 2014. "Monetary policy for rationally inattentive economies with staggered price setting," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 184-208.

  19. Adam, Klaus & Billi, Roberto M., 2008. "Monetary conservatism and fiscal policy," Journal of Monetary Economics, Elsevier, vol. 55(8), pages 1376-1388, November.
    See citations under working paper version above.
  20. Adam, Klaus, 2007. "Optimal monetary policy with imperfect common knowledge," Journal of Monetary Economics, Elsevier, vol. 54(2), pages 267-301, March.
    See citations under working paper version above.
  21. Adam, Klaus & Billi, Roberto M., 2007. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.
    See citations under working paper version above.
  22. Klaus Adam, 2007. "Experimental Evidence on the Persistence of Output and Inflation," Economic Journal, Royal Economic Society, vol. 117(520), pages 603-636, April.
    See citations under working paper version above.
  23. Adam, Klaus & Evans, George W. & Honkapohja, Seppo, 2006. "Are hyperinflation paths learnable?," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2725-2748, December.

    Cited by:

    1. Thomas J. Sargent & Noah Williams & Tao Zha, 2006. "The conquest of South American inflation," FRB Atlanta Working Paper 2006-20, Federal Reserve Bank of Atlanta.
    2. Guse, E., 2005. "Learning in a Misspecified Multivariate Self-referential Linear Stochastic Model," Cambridge Working Papers in Economics 0548, Faculty of Economics, University of Cambridge.
    3. Hartwell, Christopher A., 2019. "Short waves in Hungary, 1923 and 1946: Persistence, chaos, and (lack of) control," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 532-550.
    4. McCallum, Bennett T., 2007. "E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1376-1391, April.
    5. El-Shagi, Makram, 2011. "Inflation expectations: Does the market beat econometric forecasts?," The North American Journal of Economics and Finance, Elsevier, vol. 22(3), pages 298-319.
    6. Kevin X.D. Huang & Zheng Liu & Tao Zha, 2008. "Learning, Adaptive Expectations, and Technology Shocks," Vanderbilt University Department of Economics Working Papers 0807, Vanderbilt University Department of Economics.
    7. Baranowski, Ryan, 2015. "Adaptive learning and monetary exchange," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 1-18.
    8. Alexandre Sokic, 2012. "The Monetary Analysis of Hyperinflation and the Appropriate Specification of the Demand for Money," German Economic Review, Verein für Socialpolitik, vol. 13(2), pages 142-160, May.
    9. Wojciech W. Charemza & Yuriy Kharin & Vladislav Maevskiy, 2014. "Bilinear Forecast Risk Assessment for Non-systematic Inflation: Theory and Evidence," Dynamic Modeling and Econometrics in Economics and Finance, in: Frauke Schleer-van Gellecom (ed.), Advances in Non-linear Economic Modeling, edition 127, pages 205-232, Springer.
    10. Kevin J. Lansing & Jun Ma, 2014. "Explaining Exchange Rate Anomalies in a Model with Taylor-Rule Fundamentals and Consistent Expectations," Working Paper Series 2014-22, Federal Reserve Bank of San Francisco.
    11. Óscar J. Arce, 2006. "Speculative hyperinflations: when can we rule them out?," Working Papers 0607, Banco de España.
    12. Guse, Eran A., 2010. "Heterogeneous expectations, adaptive learning, and evolutionary dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 74(1-2), pages 42-57, May.
    13. Jun-Hyun Ko & Hiroshi Morita, 2015. "How does hyperinflation shock the economy?: Panel VAR Approach," Working Papers e090, Tokyo Center for Economic Research.
    14. Nakagawa, Ryuichi, 2015. "Learnability of an equilibrium with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 59(C), pages 58-74.
    15. Honkapohja, Seppo & Evans, George W., 2008. "Expectations, Learning and Monetary Policy: An Overview of Recent Rersearch," CEPR Discussion Papers 6640, C.E.P.R. Discussion Papers.
    16. Martin Ellison & Joseph Pearlman, 2010. "Saddlepath Learning," Economics Series Working Papers 505, University of Oxford, Department of Economics.
    17. Jim Granato & Eran Guse & Sunny Wong, 2006. "Learning From the Expectations of Others," Computing in Economics and Finance 2006 449, Society for Computational Economics.
    18. Kuang, Pei, 2016. "A Note On Learning In A Credit Economy," Macroeconomic Dynamics, Cambridge University Press, vol. 20(3), pages 845-855, April.
    19. Arce, Oscar J., 2009. "Speculative hyperinflations and currency substitution," Journal of Economic Dynamics and Control, Elsevier, vol. 33(10), pages 1808-1823, October.
    20. Francesco Caprioli & Pietro Rizza & Pietro Tommasino, 2011. "Optimal Fiscal Policy when Agents Fear Government Default," Revue économique, Presses de Sciences-Po, vol. 62(6), pages 1031-1043.
    21. Caprioli, Francesco, 2015. "Optimal fiscal policy under learning," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 101-124.
    22. Seonghoon Cho & Antonio Moreno, 2008. "Expectational Stability in Multivariate Models," Faculty Working Papers 06/08, School of Economics and Business Administration, University of Navarra.
    23. El-Shagi, Makram, 2009. "Inflation Expectations: Does the Market Beat Professional Forecasts?," IWH Discussion Papers 16/2009, Halle Institute for Economic Research (IWH).

  24. Adam, Klaus & Billi, Roberto M., 2006. "Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(7), pages 1877-1905, October.
    See citations under working paper version above.
  25. Adam, Klaus, 2005. "Learning To Forecast And Cyclical Behavior Of Output And Inflation," Macroeconomic Dynamics, Cambridge University Press, vol. 9(1), pages 1-27, February.
    See citations under working paper version above.
  26. Adam, Klaus, 2004. "On the relation between robust and Bayesian decision making," Journal of Economic Dynamics and Control, Elsevier, vol. 28(10), pages 2105-2117, September.
    See citations under working paper version above.
  27. Klaus Adam, 2003. "Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(4), pages 887-907.
    See citations under working paper version above.
  28. Adam, Klaus, 2001. "Learning While Searching for the Best Alternative," Journal of Economic Theory, Elsevier, vol. 101(1), pages 252-280, November.
    See citations under working paper version above.

Chapters

  1. Klaus Adam & Pei Kuang & Albert Marcet, 2011. "House Price Booms and the Current Account," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 77-122, National Bureau of Economic Research, Inc.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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