English, Article edition: THE APPRENTICE WIZARD: MONTETARY POLICY, COMPLEXITY AND LEARNING DOMENICO DELLI GATTI; EDOARDO GAFFEO; MAURO GALLEGATI; ...

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Bookmark: http://trove.nla.gov.au/version/133174
Physical Description
  • article
Language
  • English

Edition details

Title
  • THE APPRENTICE WIZARD: MONTETARY POLICY, COMPLEXITY AND LEARNING
Author
  • DOMENICO DELLI GATTI
  • EDOARDO GAFFEO
  • MAURO GALLEGATI
  • ANTONIO PALESTRINI
Physical Description
  • article
Notes
  • This paper investigates some central issues of monetary policy by offering a model in which a central bank tries to stabilize fluctuations in aggregate output and inflation in an adaptive complex economy. We resort to evolutionary algorithms to model the central bank behaviour under discretion, and confront the efficiency of discretion with the choice of full commitment to a fixed rule.
  • Monetary policy, Taylor rule, learning
  • RePEc:wsi:nmncxx:v:01:y:2005:i:01:p:109-128
Language
  • English
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