Recurrent hyperinflations and learning
Este Documento forma parte de la serie Working Papers (ISSN 0327-9588), publicada por la Universidad Torcuato Di Tella entre 1993 y 2001
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2024
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I57-R163-20.500.13098-129542024-11-28T11:41:30Z Recurrent hyperinflations and learning Marcet, Albert Nicolini, Juan Pablo Inflación Inflation Modelo económico Economic Models Investigación económica Economic research Hiperinflación Hyperinflation Este Documento forma parte de la serie Working Papers (ISSN 0327-9588), publicada por la Universidad Torcuato Di Tella entre 1993 y 2001 This paper uses a model of boundedly rational learning to account for the observations of recurrent hyperinflations in the last decade. We show that, in a standard monetary model when the full rational expectations assumption is replaced by a pseudo rational learning, the model replicates some stylized facts observed during the recurrent hyperinflations observed in some countries in the 80's much better than pre-existing models. We argue that this departure of rational expectations does not preclude falsifiability of the model and it does not violate reasonable rationality requirements. Este Documento forma parte de la serie Working Papers (ISSN 0327-9588), publicada por la Universidad Torcuato Di Tella entre 1993 y 2001 2024-08-08T15:16:37Z 2024-08-08T15:16:37Z 1996-01 info:eu-repo/semantics/workingPaper info:eu-repo/semantics/publishedVersion https://repositorio.utdt.edu/handle/20.500.13098/12954 eng Working Papers (ISSN 0327-9588) info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-sa/2.5/ar/ 46 p. application/pdf application/pdf Universidad Torcuato Di Tella |
institution |
Universidad Torcuato Di Tella |
institution_str |
I-57 |
repository_str |
R-163 |
collection |
Repositorio Digital Universidad Torcuato Di Tella |
language |
Inglés |
orig_language_str_mv |
eng |
topic |
Inflación Inflation Modelo económico Economic Models Investigación económica Economic research Hiperinflación Hyperinflation |
spellingShingle |
Inflación Inflation Modelo económico Economic Models Investigación económica Economic research Hiperinflación Hyperinflation Marcet, Albert Nicolini, Juan Pablo Recurrent hyperinflations and learning |
topic_facet |
Inflación Inflation Modelo económico Economic Models Investigación económica Economic research Hiperinflación Hyperinflation |
description |
Este Documento forma parte de la serie Working Papers (ISSN 0327-9588), publicada por la Universidad Torcuato Di Tella entre 1993 y 2001 |
format |
Documento de trabajo publishedVersion |
author |
Marcet, Albert Nicolini, Juan Pablo |
author_facet |
Marcet, Albert Nicolini, Juan Pablo |
author_sort |
Marcet, Albert |
title |
Recurrent hyperinflations and learning |
title_short |
Recurrent hyperinflations and learning |
title_full |
Recurrent hyperinflations and learning |
title_fullStr |
Recurrent hyperinflations and learning |
title_full_unstemmed |
Recurrent hyperinflations and learning |
title_sort |
recurrent hyperinflations and learning |
publisher |
Universidad Torcuato Di Tella |
publishDate |
2024 |
url |
https://repositorio.utdt.edu/handle/20.500.13098/12954 |
work_keys_str_mv |
AT marcetalbert recurrenthyperinflationsandlearning AT nicolinijuanpablo recurrenthyperinflationsandlearning |
_version_ |
1823894465270513664 |