Tan, Kang Yong
The objective of this thesis is to explore the implications of learning as an alter-
native expectations formation mechanism in international macroeconomics. The first part of the thesis (Chapters 2 to 4) deals with the e¤ects of adaptive learning(Evans and Honkapohja, 2001) in the transmission of policy changes and shocks within and across borders. In particular, learning has been introduced to two major workhorse open economy models: the Mundell-Fleming Dornbusch and the McKibbin-Sachs...[Show more]
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