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