Papers by Fabio Milani

Online First Journal of Money, Credit and Banking Online 11 Sep 2026

Behavioral New Keynesian Models: Learning versus Cognitive Discounting

The Behavioral New Keynesian model fixes the forward guidance puzzle by making agents myopic: "cognitive discounting", in Gabaix's (2014, 2016, 2020) formulation, shrinks expectations of distant …

New Keynesian Expectations Learning Dsge Models Expectations Forward Guidance Free Read ↗