Issues In Estimating And Simulating
Models
With Explicit Expectations
Papers are solicited on the estimation, use, and validation of models
with explicit expectations. Agent expectations may be rational, where
agents are assumed to know the relevant model equations, or one of the
many variants of "bounded rationality" where agents are also required to
estimate important conditioning information, such as the current
inflation or exchange rate target of monetary policy or the aggregate
perceptions of other agents. A wide range of topics is feasible, such
as: efficient methods of solving models with rational expectations;
issues in accomodating agent heterogeneity; learning algorithms;
estimation of expectational models; examples of direct measurements of
expectations using survey data; effects of and policy design issues for
dealing with imperfect or asymmetric information, such as robust
control; expectation issues related to boundaries (bankruptcy or the
zero floor on nominal interest rates); issues in imposing informational
restrictions in linear or nonlinear models, and so on. Although
theoretical papers are welcome, contributions using data-based modeling
of issues in macroeconomics and macrofinance are especially encouraged.
Authors wishing to present a paper are invited to submit an abstract
(not more than two pages) by January 15, 1999. Submissions may be in
either hard copy or electronic form.
Please send e-mail abstracts (ASCII or LaTeX preferred) to
skozicki@frbkc.org , binder@glue.umd.edu, or ptinsley@econ.cam.ac.uk
Hard copy abstracts may be submitted to:
Sharon Kozicki
Federal Reserve Bank of Kansas City
925 Grand Boulevard
Kansas City, MO 64198 USA
or
Michael Binder
Department of Economics
University of Maryland
Tydings
Hall
College Park, MD 20742 USA
or
P.A. Tinsley
Faculty of Economics and Politics
University of Cambridge
Cambridge CB3 9DD UK