Adaptively evolving expectations in models of monetary dynamics: The fundamentalists forward looking
- Publication Type:
- Journal Article
- Annals of Operations Research, 1999, 89 pp. 21 - 34
- Issue Date:
In the basic Cagan model of monetary dynamics, we allow inflationary expectations to be formed as a weighted average of fundamentalist and chartists expectations. We allow the weights to evolve adaptively according to the mechanism of Brock and Hommes  and study the resulting dynamic behaviour.
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