• Crisis, restructuring and growth : a macroeconomic perspective 

      Almås, Ingvild; Doppelhofer, Gernot; Haatvedt, Jens Christian; Klovland, Jan Tore; Molnár, Krisztina; Thøgersen, Øystein (Report, Research report, 2010-04)
      This report surveys the major aspects of financial crises and the restructuring and growth process of economies in the aftermath of crises, and discusses possible directions for future research in this area. The first ...
    • On the perils of stabilizing prices when agents are learning 

      Mele, Antonio; Molnár, Krisztina; Santoro, Sergio (Discussion paper;01/15, Working paper, 2015-01)
      We show that price level stabilization is not optimal in an economy where agents have incomplete knowledge about the policy implemented and try to learn it. A systematically more accommodative policy than what agents expect ...
    • Optimal monetary policy when agents are learning 

      Molnár, Krisztina; Santoro, Sergio (Discussion paper, Working paper, 2006-11)
      Most studies of optimal monetary policy under learning rely on optimality conditions derived for the case when agents have rational expectations. In this paper, we derive optimal monetary policy in an economy where the ...
    • Using survey data of inflation expectations in the estimation of learning and rational expectations models 

      Ormeño, Arturo; Molnár, Krisztina (Discussion paper;20/2014, Working paper, 2014-05)
      Does survey data contain useful information for estimating macroeconomic models? We address this question by using survey data of inflation expectations to estimate the New Keynesian model by Smets and Wouters (2007) and ...