Learning and Macroeconomics

Essays on Learning and Macroeconomics

OF THE DISSERTATION Essays on Learning and Macroeconomics

Learning, Rationality, the Stability of Equilibrium and Macroeconomics

Equilibrium and Macroeconomics. The issue of how agents learn to form rational expectations has received increasing attention lately. The approach taken in many papers treats model stability as a problem in learning. In reviewing this literature, the author examines carefully the assumptions about individual behavior required for learning to form rational expectations. The meaning of rationalit...

Learning as a rational foundation for macroeconomics and finance

Expectations play a central role in modern macroeconomics. The econometric learning approach, in line with the cognitive consistency principle, models agents as forming expectations by estimating and updating subjective forecasting models in real time. This approach provides a stability test for RE equilibria and a selection criterion in models with multiple equilibria. Further features of lear...

Macroeconomics and health.

The Commission on Macroeconomics and Health (CMH) was established by World Health Organization Director-General Gro Harlem Brundtland in January 2000 to assess the place of health in global economic development. Although health is widely understood to be both a central goal and an important outcome of development, the importance of investing in health to promote economic development and poverty...

Microfoundations and Macroeconomics