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Michele Berardi

Personal Details

First Name:Michele
Middle Name:
Last Name:Berardi
Suffix:
RePEc Short-ID:pbe224
http://sites.google.com/site/micheleberardi/
Terminal Degree:2005 Laboratory of Economics and Management (LEM); Scuola Superiore Sant'Anna (from RePEc Genealogy)

Affiliation

(90%) School of Economics
University of Manchester

Manchester, United Kingdom
http://www.socialsciences.manchester.ac.uk/economics/

: (0)161 275 4868
(0)161 275 4812
Manchester M13 9PL
RePEc:edi:semanuk (more details at EDIRC)

(10%) Macroeconomics Growth and Development Research Group
School of Economics
University of Manchester

Manchester, United Kingdom
http://www.socialsciences.manchester.ac.uk/economics/research/research-area-groups/macroeconomics-growth-development/

: (0)161 275 4868
(0)161 275 4812
(0)161 275 4868
RePEc:edi:cgmanuk (more details at EDIRC)

Research output

as
Jump to: Working papers Articles Chapters

Working papers

  1. Michele Berardi & Jaqueson K Galimberti, 2017. "Smoothing-based Initialization for Learning-to-Forecast Algorithms," KOF Working papers 17-425, KOF Swiss Economic Institute, ETH Zurich.
  2. Michele Berardi & Jaqueson K Galimberti, 2016. "On the Initialization of Adaptive Learning in Macroeconomic Models," KOF Working papers 16-422, KOF Swiss Economic Institute, ETH Zurich.
  3. Michele Berardi, 2016. "Herding through learning in an asset pricing model," Centre for Growth and Business Cycle Research Discussion Paper Series 223, Economics, The Univeristy of Manchester.
  4. Michele Berardi & Jaqueson K. Galimberti, 2015. "Empirical Calibration of Adaptive Learning," KOF Working papers 15-392, KOF Swiss Economic Institute, ETH Zurich.
  5. Michele Berardi, 2015. "Expectations formation under adaptive learning and evolutionary dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 206, Economics, The Univeristy of Manchester.
  6. Michele Berardi, 2015. "Prices, fundamental values and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 214, Economics, The Univeristy of Manchester.
  7. Michele Bernardi & Jaqueson K. Galimberti, 2014. "A Note on the Representative Adaptive Learning Algorithm," KOF Working papers 14-356, KOF Swiss Economic Institute, ETH Zurich.
  8. Michele Berardi, 2013. "On the fragility of sunspot equilibria under learning and evolutionary dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 186, Economics, The Univeristy of Manchester.
  9. Michele Berardi & Jaqueson K. Galimberti, 2012. "A note on exact correspondences between adaptive learning algorithms and the Kalman filter," Centre for Growth and Business Cycle Research Discussion Paper Series 170, Economics, The Univeristy of Manchester.
  10. Michele Berardi, 2012. "Endogenous time-varying risk aversion and asset return," Centre for Growth and Business Cycle Research Discussion Paper Series 168, Economics, The Univeristy of Manchester.
  11. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the plausibility of adaptive learning in macroeconomics: A puzzling conflict in the choice of the representative algorithm," Centre for Growth and Business Cycle Research Discussion Paper Series 177, Economics, The Univeristy of Manchester.
  12. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the initialization of adaptive learning algorithms: A review of methods and a new smoothing-based routine," Centre for Growth and Business Cycle Research Discussion Paper Series 175, Economics, The Univeristy of Manchester.
  13. Michele Berardi, 2011. "Strategic interactions, incomplete information and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 157, Economics, The Univeristy of Manchester.
  14. Tiziana Assenza & Michele Berardi & Domenico Delli Gatti, 2011. "Was Bernanke Right? Targeting Asset Prices may not be a Good Idea after all," CESifo Working Paper Series 3641, CESifo Group Munich.
  15. Michele Berardi, 2011. "On the stability properties of optimal interest rules under learning," Centre for Growth and Business Cycle Research Discussion Paper Series 155, Economics, The Univeristy of Manchester.
  16. Michele Berardi, 2010. "Heterogeneous learning dynamics and speed of convergence," Centre for Growth and Business Cycle Research Discussion Paper Series 148, Economics, The Univeristy of Manchester.
  17. Michele Berardi & John Duffy, 2010. "Real-Time, Adaptive Learning via Parameterized Expectations," Centre for Growth and Business Cycle Research Discussion Paper Series 147, Economics, The Univeristy of Manchester.
  18. Assenza, T. & Berardi, M. & Delli Gatti, D., 2009. "Asset Prices and Monetary Policy: A New View of the Cost Channel," CeNDEF Working Papers 09-17, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
  19. Michele Berardi, 2009. "Escape Dynamics and Policy Specification," Centre for Growth and Business Cycle Research Discussion Paper Series 117, Economics, The Univeristy of Manchester.
  20. Michele Berardi, 2009. "Expectations, learning and policy rule," Centre for Growth and Business Cycle Research Discussion Paper Series 112, Economics, The Univeristy of Manchester.
  21. Berardi, Michele, 2008. "Should monetary policy respond to private sector expectations?," MPRA Paper 19285, University Library of Munich, Germany.
  22. Michele Berardi, 2008. "Fundamentalists vs. chartists: learning and predictor choice dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 104, Economics, The Univeristy of Manchester.
  23. Tiziana Assenzay & Michele Berardi, 2008. "Learning in a Credit Economy," Centre for Growth and Business Cycle Research Discussion Paper Series 100, Economics, The Univeristy of Manchester.
  24. Berardi, Michele, 2007. "Beyond the static money multiplier: in search of a dynamic theory of money," MPRA Paper 19287, University Library of Munich, Germany.
  25. Michele Berardi, 2006. "Monetary policy with heterogeneous and misspecified expectations," Centre for Growth and Business Cycle Research Discussion Paper Series 81, Economics, The Univeristy of Manchester.

Articles

  1. Berardi, Michele & Galimberti, Jaqueson K., 2017. "Empirical calibration of adaptive learning," Journal of Economic Behavior & Organization, Elsevier, vol. 144(C), pages 219-237.
  2. Berardi, Michele & Galimberti, Jaqueson K., 2017. "On the initialization of adaptive learning in macroeconomic models," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 26-53.
  3. Michele Berardi, 2016. "Endogenous time-varying risk aversion and asset returns," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 581-601, July.
  4. Berardi, Michele, 2015. "On the fragility of sunspot equilibria under learning and evolutionary dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 112(C), pages 251-265.
  5. Berardi, Michele, 2015. "Learning and coordination with dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 19-33.
  6. Berardi, Michele & Duffy, John, 2015. "Real-Time, Adaptive Learning Via Parameterized Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 19(02), pages 245-269, March.
  7. Berardi, Michele, 2015. "Time-varying policy rule under learning," Economics Letters, Elsevier, vol. 129(C), pages 25-28.
  8. Berardi, Michele & Galimberti, Jaqueson K., 2014. "A note on the representative adaptive learning algorithm," Economics Letters, Elsevier, vol. 124(1), pages 104-107.
  9. Berardi, Michele, 2013. "Escape Dynamics And Policy Specification," Macroeconomic Dynamics, Cambridge University Press, vol. 17(01), pages 123-142, January.
  10. Berardi, Michele & Galimberti, Jaqueson K., 2013. "A note on exact correspondences between adaptive learning algorithms and the Kalman filter," Economics Letters, Elsevier, vol. 118(1), pages 139-142.
  11. Berardi Michele, 2012. "Heterogeneous Learning Dynamics and Speed of Convergence," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(4), pages 1-20, October.
  12. Berardi, Michele, 2011. "Fundamentalists vs. chartists: Learning and predictor choice dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 35(5), pages 776-792, May.
  13. Michele Berardi, 2009. "Monetary Policy with Heterogeneous and Misspecified Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 79-100, February.
  14. Berardi, Michele, 2009. "Heterogeneous expectations, sunspot equilibria and their fragility," Economics Letters, Elsevier, vol. 105(3), pages 276-279, December.
  15. Assenza, Tiziana & Berardi, Michele, 2009. "Learning in a credit economy," Journal of Economic Dynamics and Control, Elsevier, vol. 33(5), pages 1159-1169, May.
  16. Berardi, Michele, 2007. "Heterogeneity and misspecifications in learning," Journal of Economic Dynamics and Control, Elsevier, vol. 31(10), pages 3203-3227, October.
  17. Berardi, Michele & Duffy, John, 2007. "The value of central bank transparency when agents are learning," European Journal of Political Economy, Elsevier, vol. 23(1), pages 9-29, March.

Chapters

  1. Tiziana Assenza & Michele Berardi & Domenico Delli Gatti, 2015. "Was Bernanke Right? Targeting Asset Prices May : not: be a Good Idea After All," International Symposia in Economic Theory and Econometrics,in: Monetary Policy in the Context of the Financial Crisis: New Challenges and Lessons, volume 24, pages 451-496 Emerald Publishing Ltd.

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.

Working papers

  1. Michele Berardi & Jaqueson K Galimberti, 2017. "Smoothing-based Initialization for Learning-to-Forecast Algorithms," KOF Working papers 17-425, KOF Swiss Economic Institute, ETH Zurich.

    Cited by:

    1. Michele Berardi & Jaqueson K Galimberti, 2016. "On the Initialization of Adaptive Learning in Macroeconomic Models," KOF Working papers 16-422, KOF Swiss Economic Institute, ETH Zurich.

  2. Michele Berardi & Jaqueson K Galimberti, 2016. "On the Initialization of Adaptive Learning in Macroeconomic Models," KOF Working papers 16-422, KOF Swiss Economic Institute, ETH Zurich.

    Cited by:

    1. Michele Berardi & Jaqueson K. Galimberti, 2015. "Empirical Calibration of Adaptive Learning," KOF Working papers 15-392, KOF Swiss Economic Institute, ETH Zurich.
    2. Michele Berardi & Jaqueson K Galimberti, 2016. "On the Initialization of Adaptive Learning in Macroeconomic Models," KOF Working papers 16-422, KOF Swiss Economic Institute, ETH Zurich.
    3. Michele Berardi & Jaqueson K Galimberti, 2017. "Smoothing-based Initialization for Learning-to-Forecast Algorithms," KOF Working papers 17-425, KOF Swiss Economic Institute, ETH Zurich.

  3. Michele Berardi & Jaqueson K. Galimberti, 2015. "Empirical Calibration of Adaptive Learning," KOF Working papers 15-392, KOF Swiss Economic Institute, ETH Zurich.

    Cited by:

    1. Michele Berardi, 2016. "Herding through learning in an asset pricing model," Centre for Growth and Business Cycle Research Discussion Paper Series 223, Economics, The Univeristy of Manchester.

  4. Michele Berardi, 2015. "Prices, fundamental values and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 214, Economics, The Univeristy of Manchester.

    Cited by:

    1. Donato Masciandaro, 2014. "Macroeconomic Ideas, Business Cycles and Economic Policies: One Size Doesn’t Fit All - A Primer," BAFFI CAREFIN Working Papers 14161, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.

  5. Michele Bernardi & Jaqueson K. Galimberti, 2014. "A Note on the Representative Adaptive Learning Algorithm," KOF Working papers 14-356, KOF Swiss Economic Institute, ETH Zurich.

    Cited by:

    1. Christina Strobach & Carin van der Cruijsen, 2015. "The formation of European inflation expectations: One learning rule does not fit all," DNB Working Papers 472, Netherlands Central Bank, Research Department.
    2. Michele Berardi & Jaqueson K. Galimberti, 2015. "Empirical Calibration of Adaptive Learning," KOF Working papers 15-392, KOF Swiss Economic Institute, ETH Zurich.
    3. Tatiana Damjanovic & Sarunas Girdenas & Keqing Liu, 2015. "Stationarity of Econometric Learning with Bounded Memory and a Predicted State Variable," Discussion Papers 1502, Exeter University, Department of Economics.
    4. Michele Berardi & Jaqueson K Galimberti, 2016. "On the Initialization of Adaptive Learning in Macroeconomic Models," KOF Working papers 16-422, KOF Swiss Economic Institute, ETH Zurich.

  6. Michele Berardi, 2013. "On the fragility of sunspot equilibria under learning and evolutionary dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 186, Economics, The Univeristy of Manchester.

    Cited by:

    1. Chakrabarti, Anindya S. & Lahkar, Ratul, 2017. "Productivity dispersion and output fluctuations: An evolutionary model," Journal of Economic Behavior & Organization, Elsevier, vol. 137(C), pages 339-360.
    2. Michele Berardi, 2015. "Expectations formation under adaptive learning and evolutionary dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 206, Economics, The Univeristy of Manchester.

  7. Michele Berardi & Jaqueson K. Galimberti, 2012. "A note on exact correspondences between adaptive learning algorithms and the Kalman filter," Centre for Growth and Business Cycle Research Discussion Paper Series 170, Economics, The Univeristy of Manchester.

    Cited by:

    1. Michele Berardi & Jaqueson K. Galimberti, 2012. "A note on exact correspondences between adaptive learning algorithms and the Kalman filter," Centre for Growth and Business Cycle Research Discussion Paper Series 170, Economics, The Univeristy of Manchester.
    2. Christina Strobach & Carin van der Cruijsen, 2015. "The formation of European inflation expectations: One learning rule does not fit all," DNB Working Papers 472, Netherlands Central Bank, Research Department.
    3. Michele Berardi & Jaqueson K. Galimberti, 2015. "Empirical Calibration of Adaptive Learning," KOF Working papers 15-392, KOF Swiss Economic Institute, ETH Zurich.
    4. Michele Berardi & Jaqueson K Galimberti, 2016. "On the Initialization of Adaptive Learning in Macroeconomic Models," KOF Working papers 16-422, KOF Swiss Economic Institute, ETH Zurich.
    5. Michele Berardi & Jaqueson K Galimberti, 2017. "Smoothing-based Initialization for Learning-to-Forecast Algorithms," KOF Working papers 17-425, KOF Swiss Economic Institute, ETH Zurich.
    6. Daniel Schaefer & Carl A. Singleton, 2016. "Unemployment and econometric learning," ESE Discussion Papers 267, Edinburgh School of Economics, University of Edinburgh.
    7. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the plausibility of adaptive learning in macroeconomics: A puzzling conflict in the choice of the representative algorithm," Centre for Growth and Business Cycle Research Discussion Paper Series 177, Economics, The Univeristy of Manchester.
    8. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the initialization of adaptive learning algorithms: A review of methods and a new smoothing-based routine," Centre for Growth and Business Cycle Research Discussion Paper Series 175, Economics, The Univeristy of Manchester.

  8. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the plausibility of adaptive learning in macroeconomics: A puzzling conflict in the choice of the representative algorithm," Centre for Growth and Business Cycle Research Discussion Paper Series 177, Economics, The Univeristy of Manchester.

    Cited by:

    1. Agnieszka Markiewicz & Andreas Pick, 2013. "Adaptive Learning and Survey Data," CDMA Working Paper Series 201305, Centre for Dynamic Macroeconomic Analysis.
    2. Daniel Schaefer & Carl A. Singleton, 2016. "Unemployment and econometric learning," ESE Discussion Papers 267, Edinburgh School of Economics, University of Edinburgh.

  9. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the initialization of adaptive learning algorithms: A review of methods and a new smoothing-based routine," Centre for Growth and Business Cycle Research Discussion Paper Series 175, Economics, The Univeristy of Manchester.

    Cited by:

    1. Agnieszka Markiewicz & Andreas Pick, 2013. "Adaptive Learning and Survey Data," CDMA Working Paper Series 201305, Centre for Dynamic Macroeconomic Analysis.
    2. Christina Strobach & Carin van der Cruijsen, 2015. "The formation of European inflation expectations: One learning rule does not fit all," DNB Working Papers 472, Netherlands Central Bank, Research Department.
    3. Michele Bernardi & Jaqueson K. Galimberti, 2014. "A Note on the Representative Adaptive Learning Algorithm," KOF Working papers 14-356, KOF Swiss Economic Institute, ETH Zurich.
    4. Michele Berardi & Jaqueson K Galimberti, 2017. "Smoothing-based Initialization for Learning-to-Forecast Algorithms," KOF Working papers 17-425, KOF Swiss Economic Institute, ETH Zurich.
    5. Michele Berardi & Jaqueson K. Galimberti, 2012. "On the plausibility of adaptive learning in macroeconomics: A puzzling conflict in the choice of the representative algorithm," Centre for Growth and Business Cycle Research Discussion Paper Series 177, Economics, The Univeristy of Manchester.

  10. Tiziana Assenza & Michele Berardi & Domenico Delli Gatti, 2011. "Was Bernanke Right? Targeting Asset Prices may not be a Good Idea after all," CESifo Working Paper Series 3641, CESifo Group Munich.

    Cited by:

    1. Machado, Vicente da Gama, 2013. "Monetary policy rules, asset prices and adaptive learning," Journal of Financial Stability, Elsevier, vol. 9(3), pages 251-258.

  11. Michele Berardi & John Duffy, 2010. "Real-Time, Adaptive Learning via Parameterized Expectations," Centre for Growth and Business Cycle Research Discussion Paper Series 147, Economics, The Univeristy of Manchester.

    Cited by:

    1. Yutaka Kurihara, 2017. "Recent monetary policy effects on Japanese macroeconomy," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 5(5), pages 12-17, October.
    2. Berardi Michele, 2012. "Heterogeneous Learning Dynamics and Speed of Convergence," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(4), pages 1-20, October.
    3. Casares, Miguel & Vázquez, Jesús, 2016. "Data Revisions In The Estimation Of Dsge Models," Macroeconomic Dynamics, Cambridge University Press, vol. 20(07), pages 1683-1716, October.
    4. Yutaka Kurihara, 2016. "Can the Disparity between GDP and GDP Forecast Cause Economic Instability? The Recent Japanese Case," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 2(8), pages 155-160, 08-2016.
    5. Brecht Boone & Ewoud Quaghebeur, 2017. "Real-Time Parameterized Expectations And The Effects Of Government Spending," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/939, Ghent University, Faculty of Economics and Business Administration.

  12. Assenza, T. & Berardi, M. & Delli Gatti, D., 2009. "Asset Prices and Monetary Policy: A New View of the Cost Channel," CeNDEF Working Papers 09-17, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.

    Cited by:

    1. Vicente da Gama Machado, 2012. "Monetary Policy, Asset Prices and Adaptive Learning," Working Papers Series 274, Central Bank of Brazil, Research Department.

  13. Michele Berardi, 2009. "Escape Dynamics and Policy Specification," Centre for Growth and Business Cycle Research Discussion Paper Series 117, Economics, The Univeristy of Manchester.

    Cited by:

    1. Dmitri Kolyuzhnov & Anna Bogomolova & Sergey Slobodyan, 2006. "Escape Dynamics: A Continuous—Time Approximation," CERGE-EI Working Papers wp285, The Center for Economic Research and Graduate Education - Economics Institute, Prague.

  14. Berardi, Michele, 2008. "Should monetary policy respond to private sector expectations?," MPRA Paper 19285, University Library of Munich, Germany.

    Cited by:

    1. John Duffy & Wei Xiao, 2007. "The Value of Interest Rate Stabilization Policies When Agents Are Learning," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(8), pages 2041-2056, December.

  15. Michele Berardi, 2008. "Fundamentalists vs. chartists: learning and predictor choice dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 104, Economics, The Univeristy of Manchester.

    Cited by:

    1. Rhys ap Gwilym, 2010. "The Monetary Policy Implications of Behavioural Asset Bubbles," Working Papers 10011, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    2. Michele Berardi, 2011. "Heterogeneous sunspots solutions under learning and replicator dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 160, Economics, The Univeristy of Manchester.
    3. Berardi, Michele, 2015. "On the fragility of sunspot equilibria under learning and evolutionary dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 112(C), pages 251-265.

  16. Tiziana Assenzay & Michele Berardi, 2008. "Learning in a Credit Economy," Centre for Growth and Business Cycle Research Discussion Paper Series 100, Economics, The Univeristy of Manchester.

    Cited by:

    1. Pei Kuang, 2013. "Imperfect Knowledge about Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    2. 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.
    3. Hommes, Cars, 2011. "The heterogeneous expectations hypothesis: Some evidence from the lab," Journal of Economic Dynamics and Control, Elsevier, vol. 35(1), pages 1-24, January.
    4. Nakagawa, Ryuichi, 2015. "Learnability of an equilibrium with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 59(C), pages 58-74.
    5. Kuang, Pei, 2016. "A Note On Learning In A Credit Economy," Macroeconomic Dynamics, Cambridge University Press, vol. 20(03), pages 845-855, April.
    6. Ludwig, Alexander & Zimper, Alexander, 2014. "Biased Bayesian learning with an application to the risk-free rate puzzle," Journal of Economic Dynamics and Control, Elsevier, vol. 39(C), pages 79-97.
    7. 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.
    8. Sergio Santoro, 2011. "Heterogeneity and learning with complete markets," Temi di discussione (Economic working papers) 806, Bank of Italy, Economic Research and International Relations Area.
    9. Pei Kuang, 2012. "Comment on Assenza and Berardi "Learning in a Credit Economy" (2009, JEDC)," Discussion Papers 13-06, Department of Economics, University of Birmingham.
    10. Tiziana Assenza & William Brock & Cars Hommes, 2013. "Animal Spirits, Heterogeneous Expectations and the Emergence of Booms and Busts," DISCE - Working Papers del Dipartimento di Economia e Finanza def007, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    11. Pei Kuang, 2013. "Imperfect Knowledge about Asset Prices and Credit Cycles," CDMA Working Paper Series 201303, Centre for Dynamic Macroeconomic Analysis.
    12. Xiao, Wei, 2013. "Learning about monetary policy rules when the housing market matters," Journal of Economic Dynamics and Control, Elsevier, vol. 37(3), pages 500-515.

  17. Michele Berardi, 2006. "Monetary policy with heterogeneous and misspecified expectations," Centre for Growth and Business Cycle Research Discussion Paper Series 81, Economics, The Univeristy of Manchester.

    Cited by:

    1. Evans, George W. & Honkapohja, Seppo, 2007. "Expectations, learning and monetary policy : an overview of recent research," Research Discussion Papers 32/2007, Bank of Finland.
    2. Nakagawa, Ryuichi, 2015. "Learnability of an equilibrium with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 59(C), pages 58-74.
    3. Emanuel Gasteiger, 2015. "Do heterogeneous expectations constitute a challenge for policy interaction?," NBP Working Papers 214, Narodowy Bank Polski, Economic Research Department.
    4. Beqiraj Elton & Di Bartolomeo Giovanni & Serpieri Carolina, 2017. "Bounded-rationality and heterogeneous agents: Long or short forecasters?," wp.comunite 00132, Department of Communication, University of Teramo.
    5. Man-Keung Tang & Xiangrong Yu, 2011. "Communication of Central Bank Thinking and Inflation Dynamics," IMF Working Papers 11/209, International Monetary Fund.
    6. Felix Geiger & Oliver Sauter, 2009. "Deflationary vs. Inflationary Expectations - A New-Keynesian Perspective with Heterogeneous Agents and Monetary Believes," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 312/2009, Department of Economics, University of Hohenheim, Germany.
    7. Elias, Christopher J., 2016. "A heterogeneous agent exchange rate model with speculators and non-speculators," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 203-223.
    8. Marzioni, Stefano, 2014. "Signals and learning in a new Keynesian economy," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 114-131.

Articles

  1. Berardi, Michele & Galimberti, Jaqueson K., 2017. "Empirical calibration of adaptive learning," Journal of Economic Behavior & Organization, Elsevier, vol. 144(C), pages 219-237.
    See citations under working paper version above.
  2. Berardi, Michele & Galimberti, Jaqueson K., 2017. "On the initialization of adaptive learning in macroeconomic models," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 26-53.
    See citations under working paper version above.
  3. Berardi, Michele, 2015. "On the fragility of sunspot equilibria under learning and evolutionary dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 112(C), pages 251-265. See citations under working paper version above.
  4. Berardi, Michele, 2015. "Learning and coordination with dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 19-33.

    Cited by:

    1. Michele Berardi, 2015. "Prices, fundamental values and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 214, Economics, The Univeristy of Manchester.
    2. Michele Berardi, 2016. "Herding through learning in an asset pricing model," Centre for Growth and Business Cycle Research Discussion Paper Series 223, Economics, The Univeristy of Manchester.

  5. Berardi, Michele & Duffy, John, 2015. "Real-Time, Adaptive Learning Via Parameterized Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 19(02), pages 245-269, March.
    See citations under working paper version above.
  6. Berardi, Michele & Galimberti, Jaqueson K., 2014. "A note on the representative adaptive learning algorithm," Economics Letters, Elsevier, vol. 124(1), pages 104-107.
    See citations under working paper version above.
  7. Berardi, Michele, 2013. "Escape Dynamics And Policy Specification," Macroeconomic Dynamics, Cambridge University Press, vol. 17(01), pages 123-142, January.
    See citations under working paper version above.
  8. Berardi, Michele & Galimberti, Jaqueson K., 2013. "A note on exact correspondences between adaptive learning algorithms and the Kalman filter," Economics Letters, Elsevier, vol. 118(1), pages 139-142. See citations under working paper version above.
  9. Berardi, Michele, 2011. "Fundamentalists vs. chartists: Learning and predictor choice dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 35(5), pages 776-792, May. See citations under working paper version above.
  10. Michele Berardi, 2009. "Monetary Policy with Heterogeneous and Misspecified Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 79-100, February. See citations under working paper version above.
  11. Berardi, Michele, 2009. "Heterogeneous expectations, sunspot equilibria and their fragility," Economics Letters, Elsevier, vol. 105(3), pages 276-279, December.

    Cited by:

    1. Alberto Locarno, 2012. "Monetary policy in a model with misspecified, heterogeneous and ever-changing expectations," Temi di discussione (Economic working papers) 888, Bank of Italy, Economic Research and International Relations Area.
    2. Michele Berardi, 2015. "Expectations formation under adaptive learning and evolutionary dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 206, Economics, The Univeristy of Manchester.
    3. Michele Berardi, 2011. "Heterogeneous sunspots solutions under learning and replicator dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 160, Economics, The Univeristy of Manchester.
    4. Berardi, Michele, 2015. "On the fragility of sunspot equilibria under learning and evolutionary dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 112(C), pages 251-265.

  12. Assenza, Tiziana & Berardi, Michele, 2009. "Learning in a credit economy," Journal of Economic Dynamics and Control, Elsevier, vol. 33(5), pages 1159-1169, May.
    See citations under working paper version above.
  13. Berardi, Michele, 2007. "Heterogeneity and misspecifications in learning," Journal of Economic Dynamics and Control, Elsevier, vol. 31(10), pages 3203-3227, October.

    Cited by:

    1. Anufriev, M. & Assenza, T. & Hommes, C.H. & Massaro, D., 2008. "Interest Rate Rules with Heterogeneous Expectations," CeNDEF Working Papers 08-08, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    2. Gaetano Gaballo, 2008. "Interactive Learning and Behavioral Sunspots," Department of Economic Policy, Finance and Development (DEPFID) University of Siena 1008, Department of Economic Policy, Finance and Development (DEPFID), University of Siena.
    3. Berardi Michele, 2012. "Heterogeneous Learning Dynamics and Speed of Convergence," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(4), pages 1-20, October.
    4. Michael Wegener & Frank Westerhoff, 2012. "Evolutionary competition between prediction rules and the emergence of business cycles within Metzler’s inventory model," Journal of Evolutionary Economics, Springer, vol. 22(2), pages 251-273, April.
    5. Di Bartolomeo, Giovanni & Di Pietro, Marco & Giannini, Bianca, 2016. "Optimal monetary policy in a New Keynesian model with heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 73(C), pages 373-387.
    6. 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.
    7. Lines, Marji & Westerhoff, Frank, 2010. "Inflation expectations and macroeconomic dynamics: The case of rational versus extrapolative expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 34(2), pages 246-257, February.
    8. Tiziana Assenzay & Michele Berardi, 2008. "Learning in a Credit Economy," Centre for Growth and Business Cycle Research Discussion Paper Series 100, Economics, The Univeristy of Manchester.
    9. Di Bartolomeo, Giovanni & Beqiraj, Elton & Di Pietro, Marco, 2017. "Beliefs formation and the puzzle of forward guidance power," EconStor Preprints 175198, ZBW - German National Library of Economics.
    10. Nakagawa, Ryuichi, 2015. "Learnability of an equilibrium with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 59(C), pages 58-74.
    11. Michele Berardi, 2008. "Fundamentalists vs. chartists: learning and predictor choice dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 104, Economics, The Univeristy of Manchester.
    12. 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.
    13. Pfajfar, Damjan & Žakelj, Blaž, 2015. "Inflation Expectations and Monetary Policy Design: Evidence from the Laboratory," Finance and Economics Discussion Series 2015-45, Board of Governors of the Federal Reserve System (U.S.).
    14. Jasmina Arifovic & Herbert Dawid & Christophe Deissenberg & Olena Kostyshyna, 2008. "Learning Benevolent Leadership in a Heterogenous Agents Economy," Working Papers halshs-00339761, HAL.
    15. Michele Berardi, 2009. "Monetary Policy with Heterogeneous and Misspecified Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 79-100, February.
    16. Evans, George & Honkapohja, Seppo, 2011. "Learning as a rational foundation for macroeconomics and finance," Research Discussion Papers 8/2011, Bank of Finland.
    17. Liam Graham, 2011. "Learning, information and heterogeneity," CDMA Working Paper Series 201113, Centre for Dynamic Macroeconomic Analysis.
    18. Berardi, Michele, 2009. "Heterogeneous expectations, sunspot equilibria and their fragility," Economics Letters, Elsevier, vol. 105(3), pages 276-279, December.
    19. Michele Berardi, 2015. "Expectations formation under adaptive learning and evolutionary dynamics," Centre for Growth and Business Cycle Research Discussion Paper Series 206, Economics, The Univeristy of Manchester.
    20. 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.
    21. Sergio Santoro, 2011. "Heterogeneity and learning with complete markets," Temi di discussione (Economic working papers) 806, Bank of Italy, Economic Research and International Relations Area.
    22. Massaro, D., 2012. "Regime shifts: early warnings," CeNDEF Working Papers 12-02, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    23. Anufriev, Mikhail & Assenza, Tiziana & Hommes, Cars & Massaro, Domenico, 2013. "Interest Rate Rules And Macroeconomic Stability Under Heterogeneous Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 17(08), pages 1574-1604, December.
    24. Michele Berard, 2006. "Monetary policy with heterogeneous and misspecified expectations," The School of Economics Discussion Paper Series 0637, Economics, The University of Manchester.
    25. Elias, Christopher J., 2016. "A heterogeneous agent exchange rate model with speculators and non-speculators," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 203-223.
    26. Lines, Marji & Westerhoff, Frank, 2009. "Effects of inflation expectations on macroeconomic dynamics: Extrapolative versus regressive expectations," BERG Working Paper Series 68, Bamberg University, Bamberg Economic Research Group.
    27. Elias, Christopher J., 2016. "Asset pricing with expectation shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 65(C), pages 68-82.
    28. Tiziana Assenza & William Brock & Cars Hommes, 2013. "Animal Spirits, Heterogeneous Expectations and the Emergence of Booms and Busts," DISCE - Working Papers del Dipartimento di Economia e Finanza def007, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    29. Massaro, Domenico, 2013. "Heterogeneous expectations in monetary DSGE models," Journal of Economic Dynamics and Control, Elsevier, vol. 37(3), pages 680-692.

  14. Berardi, Michele & Duffy, John, 2007. "The value of central bank transparency when agents are learning," European Journal of Political Economy, Elsevier, vol. 23(1), pages 9-29, March.

    Cited by:

    1. Alan S. Blinder & Michael Ehrmann & Marcel Fratzscher & Jakob de Haan & David-Jan Jansen, 2008. "Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence," DNB Working Papers 170, Netherlands Central Bank, Research Department.
    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. Guido Ascari & Anna Florio, 2012. "Transparency, Expectations Anchoring and the Inflation Target," DEM Working Papers Series 022, University of Pavia, Department of Economics and Management.
    4. Ascari, Guido & Florio, Anna & Gobbi, Alessandro, 2017. "Transparency, expectations anchoring and inflation target," European Economic Review, Elsevier, vol. 91(C), pages 261-273.
    5. Papadamou, Stephanos & Sidiropoulos, Moïse & Spyromitros, Eleftherios, 2014. "Does central bank transparency affect stock market volatility?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 31(C), pages 362-377.
    6. Evans, George W. & Honkapohja, Seppo, 2007. "Expectations, learning and monetary policy : an overview of recent research," Research Discussion Papers 32/2007, Bank of Finland.
    7. Athina Zervoyianni & Athanasios Anastasiou & Andreas Anastasiou, 2013. "Does Central Bank Independence Really Matter? Re-Assessing the Role of the Independence of Monetary Policymakers in Macroeconomic Outcomes," Working Paper series 03_13, Rimini Centre for Economic Analysis.
    8. Alberto Locarno, 2012. "Monetary policy in a model with misspecified, heterogeneous and ever-changing expectations," Temi di discussione (Economic working papers) 888, Bank of Italy, Economic Research and International Relations Area.
    9. 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.
    10. van der Cruijsen, C.A.B., 2008. "The economic impact of central bank transparency," Other publications TiSEM 86c1ba91-1952-45b4-adac-8, Tilburg University, School of Economics and Management.
    11. Michele Berardi, 2009. "Monetary Policy with Heterogeneous and Misspecified Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 79-100, February.
    12. Kinda Hachem & Jing Cynthia Wu, 2017. "Inflation Announcements and Social Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(8), pages 1673-1713, December.
    13. Carsten Hefeker, 2011. "Policy Uncertainty and Economic Reforms in a Monetary Union," German Economic Review, Verein für Socialpolitik, vol. 12(3), pages 274-285, August.
    14. Michele Berard, 2006. "Monetary policy with heterogeneous and misspecified expectations," The School of Economics Discussion Paper Series 0637, Economics, The University of Manchester.
    15. Tomáš Holinka, 2010. "Proces učení a transparentnost centrální banky
      [Learning Process and Transparency of Central Bank]
      ," Politická ekonomie, University of Economics, Prague, vol. 2010(4), pages 458-470.
    16. Hommes, C.H. & Lustenhouwer, J., 2015. "Inflation Targeting and Liquidity Traps under Endogenous Credibility," CeNDEF Working Papers 15-03, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    17. Ma, Yong & Li, Shushu, 2015. "Bayesian estimation of China's monetary policy transparency: A New Keynesian approach," Economic Modelling, Elsevier, vol. 45(C), pages 236-248.

Chapters

  1. Tiziana Assenza & Michele Berardi & Domenico Delli Gatti, 2015. "Was Bernanke Right? Targeting Asset Prices May : not: be a Good Idea After All," International Symposia in Economic Theory and Econometrics,in: Monetary Policy in the Context of the Financial Crisis: New Challenges and Lessons, volume 24, pages 451-496 Emerald Publishing Ltd.
    See citations under working paper version above.Sorry, no citations of chapters recorded.

More information

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Statistics

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Rankings

This author is among the top 5% authors according to these criteria:
  1. Record of graduates

Co-authorship network on CollEc

Featured entries

This author is featured on the following reading lists, publication compilations or Wikipedia entries:
  1. Learning and Expectations Macroeconomists

NEP Fields

NEP is an announcement service for new working papers, with a weekly report in each of many fields. This author has had 22 papers announced in NEP. These are the fields, ordered by number of announcements, along with their dates. If the author is listed in the directory of specialists for this field, a link is also provided.
  1. NEP-CBA: Central Banking (7) 2007-03-03 2008-03-25 2008-09-20 2009-03-07 2009-04-05 2010-07-17 2011-03-19. Author is listed
  2. NEP-MAC: Macroeconomics (6) 2007-03-03 2009-03-07 2009-04-05 2011-03-19 2014-05-04 2015-09-18. Author is listed
  3. NEP-EVO: Evolutionary Economics (5) 2008-09-20 2012-05-15 2013-07-28 2015-07-04 2015-09-18. Author is listed
  4. NEP-MON: Monetary Economics (4) 2007-03-03 2009-03-07 2009-04-05 2011-03-19
  5. NEP-FOR: Forecasting (3) 2012-11-17 2014-05-04 2015-09-18
  6. NEP-CBE: Cognitive & Behavioural Economics (2) 2012-11-17 2015-07-04
  7. NEP-CMP: Computational Economics (2) 2012-10-20 2017-07-02
  8. NEP-CSE: Economics of Strategic Management (2) 2011-04-30 2012-05-15
  9. NEP-CTA: Contract Theory & Applications (2) 2011-04-30 2012-05-15
  10. NEP-MIC: Microeconomics (2) 2012-05-15 2016-09-11
  11. NEP-UPT: Utility Models & Prospect Theory (2) 2012-05-29 2012-11-17
  12. NEP-DGE: Dynamic General Equilibrium (1) 2008-03-25
  13. NEP-ECM: Econometrics (1) 2017-03-05
  14. NEP-FMK: Financial Markets (1) 2016-09-11
  15. NEP-GTH: Game Theory (1) 2012-05-15
  16. NEP-ORE: Operations Research (1) 2014-05-04

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