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Learning Week 2006

July 10-14, 2006

Schedule of events and participants

Conference Presentations*

Monday, July 10 — Asset Pricing

"Asset Return Dynamics, Misspecification, and Learning"
William Branch, University of California at Irvine (presenter)
George Evans, University of Oregon

"Time-Varying Linkages Between Equity and Bond Markets in Partially Observable Monetary Economy"
Massimo Guidolin, Federal Reserve Bank of St. Louis (presenter)
Sadayuki Ono, University of York

"Learning, the Stock Market, and Monetary Policy"
Marco Airaudo, Humboldt University, Berlin (presenter)
Salvatore Nistico, Libera Universita Internazionale degli Studi Sociali "Guido Carli," Rome
Luis-Felipe Zanna, Board of Governors, Federal Reserve System

"Can Perpetual Learning Explain the Forward Premium Puzzle?" (links off site)
Avik Chakraborty, University of Tennesee (presenter)
George Evans, University of Oregon

"Stock Market Volatility and Learning"
Klaus Adam, European Central Bank (presenter)
Albert Marcet, Universitat Pompeu Fabra
Juan Pablo Nicolini, Universidad Torcuato Di Tella

"Learning, Structural Breaks, and Asset Price Dynamics"
Young Se Kim, University of North Texas

Tuesday, July 11 — Monetary Policy

"Learning Commitment and Monetary Policy: The Case for Partial Adjustment"
George Waters, Illinois State University

"Inflation Expectations, Monetary Policy, and Irrational Estimates"
Giuseppe Ferrero, Bank of Italy

"Implementing Optimal Monetary Policy in New Keynesian Models with Inertia" (links off site)
George Evans, University of Oregon
Bruce McGough, Oregon State University (presenter)

"Learning Stability for Monetary Policy Rules in a Two-Country Model"
Qinwei Wang, University of Cambridge

"Inflation Targeting Under Imperfect Knowledge" (links off site)
Athanasios Orphanides, Board of Governors, Federal Reserve System
John Williams, Federal Reserve Bank of San Francisco (presenter)

"The Value of Central Bank Transparency When Agents are Learning"
Michele Berardi, Sant Anna School of Advanced Studies, Pisa
John Duffy, University of Pittsburgh (presenter)

"Optimal Monetary Policy Under Adaptive Learning"
Vitor Gaspar, Banco de Portugal
Frank Smets, European Central Bank
David Vestin, European Central Bank (presenter)

Wednesday, July 12 — Information

"Learning and Time-Varying Macroeconomic Volatility"
Fabio Milani, University of California at Irvine

"Learning and the Great Moderation"
Aarti Singh, Washington University, St. Louis

"(In)Stability and Informational Efficiency of Prices"
Gabriel Desgranges, THEMA, University of Cergy-Pontoise (presenter)
Stephanie Gauthier, CREST-LMA, INSEE

"The Kalman Foundations of Adaptive Least Squares"
J. Huston McCulloch, Ohio State University

"Optimal Information Acquisition and Monetary Policy"
Thomas Cone, State University of New York, Brockport

"Strongly Rational Expectations Equilibria with Endogenous Acquisition of Information"
Gabriel Desgranges, THEMA, University of Cergy-Pontoise
Maik Heinemann, University of Luneburg (presenter)

Thursday, July 13 — Learning Dynamics

"When Does Determinacy Imply E-Stability?"
James Bullard, Federal Reserve Bank of St. Louis
Stefano Eusepi, Federal Reserve Bank of New York (presenter)

"Learnability and Equilibrium Selection Under Indeterminacy"
Yasuo Hirose, Johns Hopkins University and Bank of Japan

"E-Stability vis-á-vis Determinacy Results for a Broad Class of Linear Rational Expectations Models"
Bennett McCallum, Carnegie-Mellon University

"Intertemporal Budget Constraints and Learning Dynamics"
Stefano Eusepi, Federal Reserve Bank of New York
Bruce Preston, Columbia University (presenter)

"Learning and Model Validation"
In-Koo Cho, University of Illinois
Kenneth Kasa, Simon Fraser University (presenter)

"Social Learning and Monetary Policy Rules"
Jasmina Arifovic, Simon Fraser University
Olena Kostyshyna, Simon Fraser University (presenter)
James Bullard, Federal Reserve Bank of St. Louis

"Generalized Stochastic Gradient Learning" (please note that this paper is currently under revision)
George Evans, University of Oregon
Seppo Honkapohja, Cambridge University (presenter)
Noah Williams, Princeton University

Friday, July 14 — Sunspots and Heterogeneity

"Short-Sighted Managers and Self-Fulfilling Business Cycles" (links off site)
Paul Shea, University of Oregon

"Increasing Returns and the Design of Interest Rate Rules"
Wei Xiao, University of New Orleans

"Learning with Heterogeneous Expectations in an Evolutionary World"
Eran Guse, University of Cambridge

"Heterogeneity, Aymmetries and Learning in Inflation Expectation Formation: An Empirical Assessment"
Damjan Pfajfar, University of Cambridge (presenter)
Emiliano Santoro, University of Cambridge

*Presentations will be added to this site as they become available.