Now showing items 5-5 of 5

    • Near-Rational Exuberance 

      Bullard, James; Evans, George W.; Honkapohja, Seppo (Faculty of Economics, 2006-03-14)
      We study how the use of judgement or “add-factors” in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which ...