Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning
The partial information rational expectations solution to a general linear multivariate expectational macro-model is found when agents are uncertain about the true values of the model's parameters. Necessary and sufficient conditions for convergence to the full information rational expectations...
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| Fformat: | Traethawd Ymchwil |
| Iaith: | English |
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2008
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| _version_ | 1826263518416994304 |
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| author | Holden, T |
| author2 | Vines, D |
| author_facet | Vines, D Holden, T |
| author_sort | Holden, T |
| collection | OXFORD |
| description | The partial information rational expectations solution to a general linear multivariate expectational macro-model is found when agents are uncertain about the true values of the model's parameters. Necessary and sufficient conditions for convergence to the full information rational expectations solutions are given, and the core of an algorithm for the Bayesian updating of beliefs is provided. In the course of this a new class of full information rational expectations equilibria is described and some of its desirable properties proven. |
| first_indexed | 2024-03-06T19:53:02Z |
| format | Thesis |
| id | oxford-uuid:249c30aa-1bb0-4096-8836-136995236ba9 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T19:53:02Z |
| publishDate | 2008 |
| record_format | dspace |
| spelling | oxford-uuid:249c30aa-1bb0-4096-8836-136995236ba92022-03-26T11:50:59ZRational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learningThesishttp://purl.org/coar/resource_type/c_bdccuuid:249c30aa-1bb0-4096-8836-136995236ba9EconomicsMacro and international economicsEnglishOxford University Research Archive - Valet2008Holden, TVines, DEllison, MThe partial information rational expectations solution to a general linear multivariate expectational macro-model is found when agents are uncertain about the true values of the model's parameters. Necessary and sufficient conditions for convergence to the full information rational expectations solutions are given, and the core of an algorithm for the Bayesian updating of beliefs is provided. In the course of this a new class of full information rational expectations equilibria is described and some of its desirable properties proven. |
| spellingShingle | Economics Macro and international economics Holden, T Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning |
| title | Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning |
| title_full | Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning |
| title_fullStr | Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning |
| title_full_unstemmed | Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning |
| title_short | Rational macroeconomic learning in linear expectational models: an analysis of the convergence properties of macroeconomic models under partial information rational expectations and Bayesian learning |
| title_sort | rational macroeconomic learning in linear expectational models an analysis of the convergence properties of macroeconomic models under partial information rational expectations and bayesian learning |
| topic | Economics Macro and international economics |
| work_keys_str_mv | AT holdent rationalmacroeconomiclearninginlinearexpectationalmodelsananalysisoftheconvergencepropertiesofmacroeconomicmodelsunderpartialinformationrationalexpectationsandbayesianlearning |