Implications of Learning Behaviour for Price Processes

Name: Implications of Learning Behaviour for Price Processes
Brand: Scholars' Press
SKU: 9783639710847
Price: 47.61 EUR
Availability: InStock

Автор: Rau-Goehring Matthias

Език:

Корици: С меки корици

Издател: Scholars' Press

Наличност: Външен склад

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47.61 € 93.11 лв

This book analyses the impact of learning behaviour in different economic environments. All cases ar...

Информация за книгата

Автор

Rau-Goehring Matthias

Език

Английски език

Корици

Книга - С меки корици

Издадена

2014

страници

200

EAN

9783639710847

ISBN

3639710843

Enbook ID

09149216

Издател

Scholars' Press

Теглоt

299

Размери

152 x 229 x 12

Пълно описание

This book analyses the impact of learning behaviour in different economic environments. All cases are motivated by real world puzzles which cannot be explained by models with rational expectations: The size and persistence of exchange rate volatility, the possibility of financial market crashes without news, and progress in disinflation in transition countries despite limited credibility and conflicting monetary and fiscal policies. In particular, the author shows that adaptive learning behaviour adds additional dynamics to economic models, which are not present under the assumption of full rationality. Certain types of hysteresis in financial markets can be explained by relaxing the rational expectations assumption; credibility and transparency of economic policies matter even more when agents learn about their economic environment; and markets with incomplete and asymmetric information are inherently unstable and prone for market crashes.

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