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Export Reference (APA) 
Gomes, O. (2010). The sticky information macro model: beyond perfect foresight. Studies in Nonlinear Dynamics and Econometrics. 14 (1), ART1
Export Reference (IEEE) 
O. M. Gomes,  "The sticky information macro model: beyond perfect foresight", in Studies in Nonlinear Dynamics and Econometrics, vol. 14, no. 1, pp. ART1, 2010
Export BibTeX 
@article{gomes2010_1716088103802,
	author = "Gomes, O.",
	title = "The sticky information macro model: beyond perfect foresight",
	journal = "Studies in Nonlinear Dynamics and Econometrics",
	year = "2010",
	volume = "14",
	number = "1",
	doi = "10.2202/1558-3708.1716",
	pages = "ART1",
	url = "http://www.degruyter.com/view/j/snde.2009.14.1/snde.2009.14.1.1716/snde.2009.14.1.1716"
}
Export RIS 
TY  - JOUR
TI  - The sticky information macro model: beyond perfect foresight
T2  - Studies in Nonlinear Dynamics and Econometrics
VL  - 14
IS  - 1
AU  - Gomes, O.
PY  - 2010
SP  - ART1
SN  - 1558-3708
DO  - 10.2202/1558-3708.1716
UR  - http://www.degruyter.com/view/j/snde.2009.14.1/snde.2009.14.1.1716/snde.2009.14.1.1716
AB  - Sticky information monetary models have been used in the macroeconomic literature to explain some of the observed features regarding inflation dynamics. In this paper, we explore the consequences of relaxing the rational expectations assumption usually taken in this type of model; in particular, by considering expectations formed through adaptive learning, it is possible to arrive to results other than the trivial convergence to a fixed point long-term equilibrium. The results involve the possibility of endogenous cyclical motion (periodic and a-periodic), which emerges essentially in scenarios of hyperinflation. In low inflation settings, the introduction of learning implies a less severe impact of monetary shocks that, nevertheless, tend to last for additional time periods relative to the pure perfect foresight setup
ER  -