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Learning by doing and the value of optimal experimentation
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Cited by:
- Cunha-e-Sa, Maria A. & Santos, Vasco, 2008. "Experimentation with accumulation," Journal of Economic Dynamics and Control, Elsevier, vol. 32(2), pages 470-496, February.
- Eric Bartelsman & Andrea Bassanini & John Haltiwanger & Ron Jarmin & Stefano Scarpetta & Thorsten Schank, 2002.
"The Spread of ICT and Productivity Growth: Is Europe Really Lagging Behind in the New Economy?,"
CEPN Working Papers
halshs-00289168, HAL.
- Eric Bartelsman & Andrea Bassanini & John Haltiwanger & Ron Jarmin & Stefano Scarpetta & Thorsten Schank, 2002. "The Spread of ICT and Productivity Growth: Is Europe Really Lagging Behind in the New Economy?," Working Papers halshs-00289168, HAL.
- Beck, Guenter W. & Wieland, Volker, 2008.
"Central bank misperceptions and the role of money in interest-rate rules,"
Journal of Monetary Economics, Elsevier, vol. 55(Supplemen), pages 1-17, October.
- Guenter Beck & Volker Wieland, 2008. "Central Bank Misperceptions and the Role of Money in Interest Rate Rules," Discussion Papers 08-004, Stanford Institute for Economic Policy Research.
- Wieland, Volker & Beck, Günter W., 2008. "Central Bank misperceptions and the role of money in interest rate rules," Working Paper Series 967, European Central Bank.
- Beck, Günter W. & Wieland, Volker, 2008. "Central bank misperceptions and the role of money in interest rate rules," CFS Working Paper Series 2008/25, Center for Financial Studies (CFS).
- Guenter Beck & Volker Wieland, 2008. "Central bank misperceptions and the role of money in interest rate rules," Working Paper Research 147, National Bank of Belgium.
- Wieland, Volker & Beck, Günter, 2008. "Central Bank Misperceptions and the Role of Money in Interest Rate Rules," CEPR Discussion Papers 6947, C.E.P.R. Discussion Papers.
- Ellison, Martin & Sarno, Lucio & Vilmunen, Jouko, 2004.
"Monetary policy and learning in an open economy,"
Bank of Finland Research Discussion Papers
3/2004, Bank of Finland.
- Martin Ellison & Lucio Sarno & Jouko Vilmunen, 2004. "Monetary policy and learning in an open economy," Macroeconomics 0404022, University Library of Munich, Germany.
- Svensson, Lars E.O., 2010.
"Inflation Targeting,"
Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 22, pages 1237-1302,
Elsevier.
- Lars E. O. Svensson, 2007. "Inflation Targeting," Working Papers 144, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Lars E.O. Svensson, 2010. "Inflation Targeting," NBER Working Papers 16654, National Bureau of Economic Research, Inc.
- Craig A. Bond & John B. Loomis, 2009.
"Using Numerical Dynamic Programming to Compare Passive and Active Learning in the Adaptive Management of Nutrients in Shallow Lakes,"
Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 57(4), pages 555-573, December.
- Bond, Craig A. & Loomis, John B., 2008. "Using Numerical Dynamic Programming to Compare Passive and Active Learning in the Adaptive Management of Nutrients in Shallow Lakes," Working Papers 108720, Colorado State University, Department of Agricultural and Resource Economics.
- Ellison, Martin, 2006.
"The learning cost of interest rate reversals,"
Journal of Monetary Economics, Elsevier, vol. 53(8), pages 1895-1907, November.
- Ellison, Martin, 2003. "The Learning Cost of Interest Rate Reversals," CEPR Discussion Papers 4135, C.E.P.R. Discussion Papers.
- Hans M. Amman & Marco Paolo Tucci, 2018. "How active is active learning: value function method vs an approximation method," Department of Economics University of Siena 788, Department of Economics, University of Siena.
- Parker, Simon C., 2007. "Entrepreneurial learning and the existence of credit markets," Journal of Economic Behavior & Organization, Elsevier, vol. 62(1), pages 37-46, January.
- Volker Wieland, 2009.
"Learning, Endogenous Indexation, and Disinflation in the New-Keynesian Model,"
Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.),Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 11, pages 413-450,
Central Bank of Chile.
- Volker Wieland, 2008. "Learning, Endogenous Indexation, and Disinflation in the New-Keynesian Model," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 11(3), pages 21-44, December.
- Wieland, Volker, 2008. "Learning, endogenous indexation and disinflation in the New-Keynesian model," CFS Working Paper Series 2008/17, Center for Financial Studies (CFS).
- Wieland, Volker, 2008. "Learning, Endogenous Indexation and Disinflation in the New-Keynesian Model," CEPR Discussion Papers 6749, C.E.P.R. Discussion Papers.
- Volker Wieland, 2008. "Learning, Endogenous Indexation, and Disinflation in the New-Keynesian Model," Working Papers Central Bank of Chile 493, Central Bank of Chile.
- Wieland, Volker, 2000.
"Monetary policy, parameter uncertainty and optimal learning,"
Journal of Monetary Economics, Elsevier, vol. 46(1), pages 199-228, August.
- Wieland, Volker, 1999. "Monetary policy, parameter uncertainty and optimal learning," ZEI Working Papers B 09-1999, University of Bonn, ZEI - Center for European Integration Studies.
- Volker W. Wieland, 1999. "Monetary policy, parameter uncertainty and optimal learning," Finance and Economics Discussion Series 1999-48, Board of Governors of the Federal Reserve System (U.S.).
- Akabayashi, Hideo, 2006. "An equilibrium model of child maltreatment," Journal of Economic Dynamics and Control, Elsevier, vol. 30(6), pages 993-1025, June.
- Leonard J. Mirman & Kevin Reffett & Marc Santugini, 2016.
"On learning and growth,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(4), pages 641-684, April.
- Leonard J. Mirman & Kevin Reffett & Marc Santugini, 2013. "On Learning and Growth," Cahiers de recherche 1336, CIRPEE.
- Sergei Morozov & Sudhanshu Mathur, 2012. "Massively Parallel Computation Using Graphics Processors with Application to Optimal Experimentation in Dynamic Control," Computational Economics, Springer;Society for Computational Economics, vol. 40(2), pages 151-182, August.
- Lars E.O. Svensson & Noah Williams, 2009.
"Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach,"
Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.),Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 3, pages 077-114,
Central Bank of Chile.
- Lars E.O. Svensson & Noah Williams, 2008. "Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach," NBER Working Papers 13892, National Bureau of Economic Research, Inc.
- Lars E.O. Svensson & Noah Williams, 2008. "Optimal Monetary Policy Under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach," Working Papers Central Bank of Chile 484, Central Bank of Chile.
- Dennis, Richard & Ravenna, Federico, 2008.
"Learning and optimal monetary policy,"
Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1964-1994, June.
- Richard Dennis & Federico Ravenna, 2007. "Learning and optimal monetary policy," Working Paper Series 2007-19, Federal Reserve Bank of San Francisco.
- Volker Wieland, "undated".
"Monetary Policy and Uncertainty about the Natural Unemployment Rate,"
Computing in Economics and Finance 1997
11, Society for Computational Economics.
- Volker W. Wieland, 1998. "Monetary policy and uncertainty about the natural unemployment rate," Finance and Economics Discussion Series 1998-22, Board of Governors of the Federal Reserve System (U.S.).
- Wieland, Volker, 2003. "Monetary Policy and Uncertainty about the Natural Unemployment Rate," CFS Working Paper Series 2003/05, Center for Financial Studies (CFS).
- Wieland, Volker, 2003. "Monetary Policy and Uncertainty about the Natural Unemployment Rate," CEPR Discussion Papers 3811, C.E.P.R. Discussion Papers.
- Hauk, Esther & Lanteri, Andrea & Marcet, Albert, 2021.
"Optimal policy with general signal extraction,"
Journal of Monetary Economics, Elsevier, vol. 118(C), pages 54-86.
- Esther Hauk & Andrea Lanteri & Albert Marcet, 2016. "Optimal Policy with General Signal Extraction," Working Papers 932, Barcelona School of Economics.
- D.A. Kendrick & H.M. Amman & M.P. Tucci, 2008. "Learning About Learning in Dynamic Economic Models," Working Papers 08-20, Utrecht School of Economics.
- Tesfaselassie, M.F. & Schaling, E., 2010.
"Managing disinflation under uncertainty,"
Journal of Economic Dynamics and Control, Elsevier, vol. 34(12), pages 2568-2577, December.
- Tesfaselassie, Mewael F. & Schaling, Eric, 2008. "Managing disinflation under uncertainty," Kiel Working Papers 1429, Kiel Institute for the World Economy (IfW Kiel).
- M.F. Tesfaselassie & E. Schaling, 2010. "Managing disinflation under uncertainty," Post-Print hal-00743847, HAL.
- Fredrick M. Wamalwa & Justine Burns, 2018. "Private Schools and Student Learning Achievements in Kenya," Working Papers 145, Economic Research Southern Africa.
- Mewael F. Tesfaselassie & Eric Schaling, 2008. "Managing Disinflation under Uncertainty," CDMA Conference Paper Series 0812, Centre for Dynamic Macroeconomic Analysis.
- Hans Amman & David Kendrick, 2014.
"Comparison of policy functions from the optimal learning and adaptive control frameworks,"
Computational Management Science, Springer, vol. 11(3), pages 221-235, July.
- D.A. Kendrick & H.M. Amman, 2008. "Comparison of Policy Functions from the Optimal Learning and Adaptive Control Frameworks," Working Papers 08-19, Utrecht School of Economics.
- Hans M. Amman & Marco P. Tucci, 2020. "How Active is Active Learning: Value Function Method Versus an Approximation Method," Computational Economics, Springer;Society for Computational Economics, vol. 56(3), pages 675-693, October.
- Jiarui Han & Tze Lai & Viktor Spivakovsky, 2006. "Approximate Policy Optimization and Adaptive Control in Regression Models," Computational Economics, Springer;Society for Computational Economics, vol. 27(4), pages 433-452, June.
- Balvers, Ronald J. & Mitchell, Douglas W., 2007.
"Reducing the dimensionality of linear quadratic control problems,"
Journal of Economic Dynamics and Control, Elsevier, vol. 31(1), pages 141-159, January.
- Ronald J. Balvers & Douglas W. Mitchell, 2001. "Reducing the Dimensionality of Linear Quadratic Control Problems," Tinbergen Institute Discussion Papers 01-043/2, Tinbergen Institute.
- David Kendrick & Hans Amman, 2006.
"A Classification System for Economic Stochastic Control Models,"
Computational Economics, Springer;Society for Computational Economics, vol. 27(4), pages 453-481, June.
- Hans M. Amman & David A. Kendrick, 2003. "A Classification System for Economic Stochastic Control Models," Computing in Economics and Finance 2003 114, Society for Computational Economics.
- Rondina, Francesca, 2012.
"The role of model uncertainty and learning in the US postwar policy response to oil prices,"
Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 1009-1041.
- Francesca Rondina, 2010. "The role of model uncertainty and learning in the U.S. postwar policy response to oil prices," UFAE and IAE Working Papers 834.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Francesca Rondina, 2010. "The role of model uncertainty and learning in the U.S. postwar policy response to oil prices," Working Papers 478, Barcelona School of Economics.
- Timothy Cogley, 2008. "Commentary on \\"Optimal monetary policy under uncertainty: a Markov jump-linear-quadratic approach\\"," Review, Federal Reserve Bank of St. Louis, vol. 90(Jul), pages 295-300.
- Brian P. Sack, 1998. "Does the Fed act gradually? a VAR analysis," Finance and Economics Discussion Series 1998-17, Board of Governors of the Federal Reserve System (U.S.).
- Cosimano, Thomas F., 2008. "Optimal experimentation and the perturbation method in the neighborhood of the augmented linear regulator problem," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1857-1894, June.
- Guidolin, Massimo & Timmermann, Allan, 2007.
"Properties of equilibrium asset prices under alternative learning schemes,"
Journal of Economic Dynamics and Control, Elsevier, vol. 31(1), pages 161-217, January.
- Massimo Guidolin & Allan Timmerman, 2005. "Properties of equilibrium asset prices under alternative learning schemes," Working Papers 2005-009, Federal Reserve Bank of St. Louis.
- Wieland, Volker & Beck, Günter, 2009.
"Money in monetary policy design: Monetary cross-checking in the New-Keynesian model,"
CEPR Discussion Papers
7518, C.E.P.R. Discussion Papers.
- Wieland, Volker & Beck, Günter W., 2010. "Money in monetary policy design: Monetary cross-checking in the New-Keynesian model," Working Paper Series 1191, European Central Bank.
- Beck, Guenter W. & Wieland, Volker, 2009. "Money in monetary policy design: Monetary cross-checking in the New-Keynesian Model," CFS Working Paper Series 2009/19, Center for Financial Studies (CFS).
- Koulovatianos, Christos & Mirman, Leonard J. & Santugini, Marc, 2009.
"Optimal growth and uncertainty: Learning,"
Journal of Economic Theory, Elsevier, vol. 144(1), pages 280-295, January.
- Christos Koulovatianos & Leonard J. Mirman & Marc Santugini, 2007. "Optimal Growth and Uncertainty: Learning," Cahiers de recherche 07-05, HEC Montréal, Institut d'économie appliquée, revised Feb 2008.
- Christos Koulovatianos, & Leonard J. Mirman & Marc Santugini, 2008. "Optimal Growth and Uncertainty: Learning," Discussion Papers 08/08, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
- Bigio, Saki, 2010.
"Learning under fear of floating,"
Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 1923-1950, October.
- Bigio, Saki, 2009. "Learning under Fear of Floating," Working Papers 2009-004, Banco Central de Reserva del Perú.
- Timothy Cogley & Thomas J. Sargent, 2005.
"The conquest of US inflation: Learning and robustness to model uncertainty,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(2), pages 528-563, April.
- Sargent, Thomas J. & Cogley, Timothy, 2005. "The conquest of U.S. inflation: learning and robustness to model uncertainty," Working Paper Series 478, European Central Bank.
- Svensson, Lars E. O. & Williams, Noah, 2006.
"Bayesian and adaptive optimal policy under model uncertainty,"
CFS Working Paper Series
2007/11, Center for Financial Studies (CFS).
- Lars E.O. Svensson & Noah M. Williams, 2007. "Bayesian and Adaptive Optimal Policy under Model Uncertainty," NBER Working Papers 13414, National Bureau of Economic Research, Inc.
- Noah Williams & Lars E.O. Svensson, 2007. "Bayesian and Adaptive Optimal Policy under Model Uncertainty," 2007 Meeting Papers 446, Society for Economic Dynamics.
- Federico Ravenna, 2014. "How Central Banks Learn the True Model of the Economy," Cahiers de recherche 1409, CIRPEE.
- Ben Martin & Chris Salmon, 1999. "Should uncertain monetary policy-makers do less?," Bank of England working papers 99, Bank of England.
- Lars E. O. Svensson & Noah Williams, 2008. "Optimal monetary policy under uncertainty: a Markov jump-linear-quadratic approach," Review, Federal Reserve Bank of St. Louis, vol. 90(Jul), pages 275-294.
- Maria Antonieta Cunha-e-Sa & Vasco Santos, 2007. "Experimentation with accumulation," Nova SBE Working Paper Series wp503, Universidade Nova de Lisboa, Nova School of Business and Economics.
- Springborn, Michael & Sanchirico, James N., 2013. "A density projection approach for non-trivial information dynamics: Adaptive management of stochastic natural resources," Journal of Environmental Economics and Management, Elsevier, vol. 66(3), pages 609-624.
- Philip R. Lane, 2002.
"Monetary-Fiscal Interactions in an Uncertain World: Lessons for European Policymakers,"
Trinity Economics Papers
200213, Trinity College Dublin, Department of Economics.
- Lane, P.R., 2002. "Monetary-Fiscal Interactions in an Uncertain World: Lessons for European Policymakers," CEG Working Papers 20027, Trinity College Dublin, Department of Economics.
- Ellison, Martin & Vilmunen, Jouko, 2005. "A simple approach to identifying the incentives for policy experimentation," Economics Letters, Elsevier, vol. 86(2), pages 167-172, February.
- Kendrick, David A., 2005. "Stochastic control for economic models: past, present and the paths ahead," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 3-30, January.
- Ellison, Martin & Sarno, Lucio & Vilmunen, Jouko, 2007.
"Caution Or Activism? Monetary Policy Strategies In An Open Economy,"
Macroeconomic Dynamics, Cambridge University Press, vol. 11(4), pages 519-541, September.
- Sarno, Lucio & Ellison, Martin & Vilmunen, Jouko, 2004. "Caution or Activism? Monetary Policy Strategies in an Open Economy," CEPR Discussion Papers 4766, C.E.P.R. Discussion Papers.
- Martin Ellison & Lucio Sarno & Jouko Vilmunen, 2006. "Caution or Activism? Monetary Policy Strategies in an Open Economy," Computing in Economics and Finance 2006 214, Society for Computational Economics.
- Martin Ellison & Lucio Sarno & Jouko Vilmunen, 2007. "Caution or Activism? Monetary Policy Strategies in an Open Economy," Money Macro and Finance (MMF) Research Group Conference 2006 18, Money Macro and Finance Research Group.
- Peterson,G.D. & Carpenter,S.R. & Brock,W.A., 2002. "Uncertainty and the management of multi-state ecosystems : an apparently rational route to collapse," Working papers 10, Wisconsin Madison - Social Systems.
- Mathur, Sudhanshu & Morozov, Sergei, 2009. "Massively Parallel Computation Using Graphics Processors with Application to Optimal Experimentation in Dynamic Control," MPRA Paper 16721, University Library of Munich, Germany.
- Kimura, Takeshi & Kurozumi, Takushi, 2007.
"Optimal monetary policy in a micro-founded model with parameter uncertainty,"
Journal of Economic Dynamics and Control, Elsevier, vol. 31(2), pages 399-431, February.
- Takeshi Kimura & Takushi Kurozumi, 2003. "Optimal monetary policy in a micro-founded model with parameter uncertainty," Finance and Economics Discussion Series 2003-67, Board of Governors of the Federal Reserve System (U.S.).
- Ravenna, Federico, 2012. "Optimal monetary policy and model selection in a real-time learning environment," Economics Letters, Elsevier, vol. 114(3), pages 322-325.
- Mandler, Martin, 2006. "Are there gains from including monetary aggregates and stock market indices in the monetary policy reaction function? A simulation study of recent U.S. monetary policy," MPRA Paper 2318, University Library of Munich, Germany.
- Berardi, Michele, 2013.
"Escape Dynamics And Policy Specification,"
Macroeconomic Dynamics, Cambridge University Press, vol. 17(1), pages 123-142, January.
- Michele Berardi, 2009. "Escape Dynamics and Policy Specification," Centre for Growth and Business Cycle Research Discussion Paper Series 117, Economics, The University of Manchester.
- Tim Willems, 2017.
"Actively Learning by Pricing: A Model of an Experimenting Seller,"
Economic Journal, Royal Economic Society, vol. 127(604), pages 2216-2239, September.
- Tim Willems, 2013. "Actively Learning by Pricing: A Model of an Experimenting Seller," Economics Series Working Papers 687, University of Oxford, Department of Economics.
- Bullard, James & Suda, Jacek, 2016.
"The stability of macroeconomic systems with Bayesian learners,"
Journal of Economic Dynamics and Control, Elsevier, vol. 62(C), pages 1-16.
- James B. Bullard & Jacek Suda, 2008. "The stability of macroeconomic systems with Bayesian learners," Working Papers 2008-043, Federal Reserve Bank of St. Louis.
- James Bullard & Jacek Suda, 2015. "The stability of macroeconomic systems with Bayesian learners," NBP Working Papers 228, Narodowy Bank Polski.
- Bullard, J.B. & Suda, J., 2011. "The Stability of Macroeconomic Systems with Bayesian Learners," Working papers 332, Banque de France.
- In Chang Hwang, 2016. "Active learning and optimal climate policy," EcoMod2016 9611, EcoMod.
- Johnson, Timothy C., 2007. "Optimal learning and new technology bubbles," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2486-2511, November.
- Adong, Annet & Tinker, James & Levine, David & Mbowa, Swaibu & Odokonyero, Tony, 2020. "Encouraging fertilizer adoption through risk free sales offer: A randomized control trial in Uganda," World Development Perspectives, Elsevier, vol. 19(C).
- Beck, Gunter W. & Wieland, Volker, 2002. "Learning and control in a changing economic environment," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1359-1377, August.
- Morozov, Sergei & Mathur, Sudhanshu, 2009. "Massively parallel computation using graphics processors with application to optimal experimentation in dynamic control," MPRA Paper 30298, University Library of Munich, Germany, revised 04 Apr 2011.
- In-Koo Cho & Noah Williams & Thomas J. Sargent, 2002.
"Escaping Nash Inflation,"
Review of Economic Studies,
Oxford University Press, vol. 69(1), pages 1-40.
- Cho, In-Koo & Sargent, Thomas J., 2000. "Escaping Nash inflation," Working Paper Series 0023, European Central Bank.
- Sack, Brian, 2000. "Does the fed act gradually? A VAR analysis," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 229-256, August.
- Bond, Craig A., 2008. "On the Potential Use of Adaptive Control Methods for Improving Adaptive Natural Resource Management," Working Papers 108721, Colorado State University, Department of Agricultural and Resource Economics.
- Ellison, Martin & Valla, Natacha, 2001.
"Learning, uncertainty and central bank activism in an economy with strategic interactions,"
Journal of Monetary Economics,
Elsevier, vol. 48(1), pages 153-171, August.
- Martin Ellison & Natacha Valla, 2000. "Learning, Uncertainty And Central Bank Activism In An Economy With Strategic Interactions," Computing in Economics and Finance 2000 183, Society for Computational Economics.
- Ellison, Martin & Valla, Natacha, 2000. "Learning, uncertainty and central bank activism in an economy with strategic interactions," Working Paper Series 0028, European Central Bank.
- Simon Hall & Chris Salmon & Tony Yates & Nicoletta Batini, 1999. "Uncertainty and Simple Monetary Policy Rules - An illustration for the United Kingdom," Bank of England working papers 96, Bank of England.