Endogenous Expectations
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چکیده
منابع مشابه
تصریح یک مدل تورمی برای اقتصاد ایران با بهرهگیری از بنیانهای خُرد اقتصادی
This paper examines the effects of different variables on inflation in the monetary economics using endogenous growth models. So, different aspects of inflation formation were analyzed based on micro-foundations. We investigated the role of imported inflation, fiat money, expectations, monetary base and capital accumulation on inflation using an endogenous growth model. An ARDL approach was...
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We propose a theory of asset pricing based on heterogeneous agents who continually adapt their expectations to the market that these expectations aggregatively create. And we explore the implications of this theory computationally using our Santa Fe artificial stock market. Asset markets, we argue, have a recursive nature in that agents’ expectations are formed on the basis of their anticipatio...
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Building on the models of sticky information, we endogenize the probability of obtaining new information by introducing a switching mechanism allowing agents to choose between costly rational expectations and costless expectations under sticky information. Thereby, the share of agents with rational expectations becomes endogenous and timevarying. While central results of sticky information mode...
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This paper extends Brock and Durlauf’s models on binary choice with social interactions. In the extended model, an individual will form expected behaviors of peers taking into account their characteristics. The expected behaviors of peers in a group are heterogeneous. The expectations of peers are determined as rational expectations. We consider models in both group and network settings. Endoge...
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