| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1875 |
| DP1875 Recurrent Hyperinflations and Learning | |
| Albert Marcet; Juan Pablo Nicolini | |
| 发表日期 | 1998-05-31 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | This paper uses a model of boundedly rational learning to account for the observations of recurrent hyperinflations in the last decade. We study a standard monetary model, where the full rational expectations assumption is replaced by a formal definition of quasi-rational learning. The model under learning is able to match remarkably well some crucial stylized facts, observed during the recurrent hyperinflations experienced by several countries in the 1980s. We argue that, despite being a small departure from rational expectations, quasi-rational learning does not preclude falsifiability of the model and it does not violate reasonable rationality requirements. |
| 主题 | International Macroeconomics |
| 关键词 | Convertibility Hyperinflations Quasi-rationality Stabilization plans |
| URL | https://cepr.org/publications/dp1875 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531017 |
| 推荐引用方式 GB/T 7714 | Albert Marcet,Juan Pablo Nicolini. DP1875 Recurrent Hyperinflations and Learning. 1998. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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