کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055711 1371497 2009 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Learning and international transmission of shocks
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Learning and international transmission of shocks
چکیده انگلیسی
This paper studies the implications of adaptive learning in the modelling of inter-country linkages in a two-region MSG G-cubed model built on micro-founded behaviors of firms and households. The nature of the transmission process under rational expectations versus adaptive learning is explored. We investigate the propagation mechanism within and across borders for various shocks and policy changes within the United States: change in inflation target, fiscal policy, productivity shock, and rise in equity risk. Adaptive learning is found to change the short run sign of transmission in most cases but this also depends on the fraction of forward-looking agents in the economy.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 26, Issue 5, September 2009, Pages 1033-1052
نویسندگان
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