This paper revisits the generalized adaptive expectations (GAE) mechanism presented by Shepherd (2012) [When are adaptive expectations rational? A generalization, Economics Letters, 115, 4–6]. It provides the precise conditions under which GAE hold, and also discusses its implications for the modeling of expectations in macroeconomic models.

Generalized Adaptive Expectations Revisited

SORGE, MARCO MARIA
2013-01-01

Abstract

This paper revisits the generalized adaptive expectations (GAE) mechanism presented by Shepherd (2012) [When are adaptive expectations rational? A generalization, Economics Letters, 115, 4–6]. It provides the precise conditions under which GAE hold, and also discusses its implications for the modeling of expectations in macroeconomic models.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11386/4681533
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