George Evans' Homepage

Teaching -- Current & Recent Course Syllabi:

Undergraduate Intermediate Macro (Econ 313)
Graduate Level Core Macro (Winter Term)
Graduate Level Advanced Macro Topics
Graduate Level Econometrics Time Series Analysis
Economics 424/524 Econometrics

Research Working Papers

Learning and Macroeconomics (with Seppo Honkapohja), revised version forthcoming Annual Review of Economics. Abstract
Learning about Risk and Return: A Simple Model of Bubbles and Crashes (with William Branch) Abstract
Robust Learning Stability with Operational Monetary Policy Rules (with Seppo Honkapohja), forthcoming in Monetary Policy under Uncertainty and Learning, ed. by Klaus Schmidt-Hebbel and Carl Walsh.
Expectations, Learning and Monetary Policy: An Overview of Recent Research (with Seppo Honkapohja), forthcoming in Monetary Policy under Uncertainty and Learning, ed. by Klaus Schmidt-Hebbel and Carl Walsh.
Anticipated Fiscal Policy and Adaptive Learning (with Seppo Honkapohja and Kaushik Mitra) Abstract forthcoming Journal of Monetary Economics.
Representations and Sunspot Stability (with Bruce McGough) Abstract forthcoming Macroeconomic Dynamics.
Asset Return Dynamics and Learning (with William Branch) Abstract, forthcoming Review of Financial Studies.
Stable Finite-State Markov Sunspots (with Bruce McGough) Abstract
Adaptive Learning, Endogenous Inattention and Changes in Monetary Policy (with William Branch, John Carlson and Bruce McGough) Abstract
Implementing Optimal Monetary Policy in New-Keynesian Models with Inertia (with Bruce McGough) Abstract
Generalized Stochastic Gradient Learning (with Seppo Honkapohja and Noah Williams) Abstract, forthcoming International Economic Review.
A Model of Near-Rational Exuberance (with James Bullard and Seppo Honkapohja), forthcoming Macroeconomic Dynamics.
Learning in Macroeconomics (with Seppo Honkapohja), New Palgrave Dictionary of Economics, Second Edition.
Notes: Euler Equation vs. Infinite Horizon Learning

Notes on Agents' Behavioral Rules under Adaptive Learning and Recent Studies of Monetary Policy (with Seppo Honkapohja and Kaushik Mitra).

Recent Published Papers

Monetary Policy, Endogenous Inattention and the Volatility Trade-off (with William Branch, John Carlson and Bruce McGough) Abstract, Economic Journal, Vol. 119, 2009, 123-157.
Liquidity Traps, Learning and Stagnation (with Eran Guse and Seppo Honkapohja) Abstract, European Economic Review, Vol. 52, 2008, 1438 – 1463.
Monetary Policy, Judgment and Near-Rational Exuberance (with James Bullard and Seppo Honkapohja), American Economic Review. Vol. 98, 2008, 1163 – 1177.
Can Perpetual Learning Explain the Forward Premium Puzzle? (with Avik Chakraborty). Abstract, Journal of Monetary Economics, Vol. 55, 2008, 477 – 490.
Policy Interaction, Learning and the Fiscal Theory of Prices (with Seppo Honkapohja) Abstract, Macroeconomic Dynamics, Vol. 11, 2007, 665 – 690.
Optimal Constrained Interest-rate Rules (with Bruce McGough) Abstract, Journal of Money, Credit and Banking, Vol. 39, 2007, 1335-1356.
Model Uncertainty and Endogenous Volatility (with William Branch) Abstract, Review of Economic Dynamics, Vol. 19, 2007, 207-237.
Stable Sunspot Equilibria in a Cash-in-Advance Model (with Seppo Honkapohja and Ramon Marimon) The B.E. Journal of Macroeconomics, 2007, Vol. 7: Iss. 1 (Advances), Article 3. Download from BE Press. Abstract
The E-Correspondence Principle (with Seppo Honkapohja), Economica, 2007, Vol, 74, 33-50. Abstract
Are Hyperinflation Paths Learnable? (with Klaus Adam and Seppo Honkapohja), Journal of Economic Dynamics and Control, Vol. 30, 2006, 2725-2748. Abstract
Adaptive Expectations, Underparameterization and the Lucas Critique (with Garey Ramey), Journal of Monetary Economics, 2006, Vol. 53, 249-264. Abstract
A Simple Recursive Forecasting Model (with William Branch), Economics Letters, 2006, Vol. 91, 158-166. Abstract
Intrinsic Heterogeneity in Expectation Formation (with William Branch), Journal of Economic Theory, 2006, Vol. 127, 264-295. Abstract
Monetary Policy, Expectations and Commitment (with Seppo Honkapohja), Scandinavian Journal of Economics, 2006, Vol. 108, 15-38. Long Version Abstract
Coordination on Saddle-Path Solutions: the Eductive Viewpoint -- Linear Multivariate Models (with Roger Guesnerie), Journal of Economic Theory, 2005, Vol. 124, 202-229. Abstract
Monetary Policy, Indeterminacy and Learning (with Bruce McGough), Journal of Economic Dynamics and Control, 2005, Vol. 29, 1809-1840. Abstract
An Interview with Thomas J. Sargent (with Seppo Honkapohja), Macroeconomic Dynamics, 2005, Vol. 9, 561-583. Abstract
Policy Interaction, Expectations and the Liquidity Trap (with Seppo Honkapohja), Review of Economic Dynamics, 2005, Vol. 8, 2005, 303-323. Abstract
Indeterminacy and the Stability Puzzle in Non-Convex Economies (with Bruce McGough), The B.E. Journal of Macroeconomics (Contributions), 2005, Vol. 5: Issue 1, Article 8. Download from BE Press. Abstract
Stable Sunspot Solutions in Models with Predetermined Variables (with Bruce McGough), Journal of Economic Dynamics and Control, 2005, Vol. 29, 601-625. Abstract
Monetary Policy and Stable Indeterminacy with Inertia (with Bruce McGough), Economics Letters , 2005, Vol. 87, 1-7. Abstract
Comment on Orphanides-Williams in Inflation Targeting, ed. Ben Bernanke and Michael Woodford, 2005, NBER and University of Chicago Press.
Adaptive Learning and Monetary Policy Design (with Seppo Honkapohja), Journal of Money, Credit and Banking, 2003, Vol. 35, 1045-1072. Abstract
Expectations and the Stability Problem for Optimal Monetary Policy (with Seppo Honkapohja), Review of Economic Studies, 2003, Vol. 70, 807-824. Abstract
Friedman's Money Supply Rule vs. Optimal Interest Rate Policy (with Seppo Honkapohja), Scottish Journal of Political Economy, 2003, Vol. 50, 550-566. Abstract
Expectational Stability of Stationary Sunspot Equilibria in a Forward-looking Model (with Seppo Honkapohja), Journal of Economic Dynamics and Control, 2003, Vo. 28, 171-181. Abstract
Existence of Adaptively Stable Sunspot Equilibria near an Indeterminate Steady State (with Seppo Honkapohja), Journal of Economic Theory, 2003, Vol. 111, 125-134. Abstract
Coordination on Saddle Path Solutions: the Eductive Viewpoint -- Linear Univariate Models (with Roger Guesnerie), Macroeconomic Dynamics, 2003, Vol. 7, 42-62. Abstract
Expectations in Macroeconomics: Adaptive vs. Eductive Learning Revue Economique, 2001, Vol. 52, No. 3, 573-582.

Abstracts of selected earlier publications:
Convergence in Monetary Inflation Models with Heterogeneous Learning Rules (with Seppo Honkapohja and Ramon Marimon), Macroeconomic Dynamics, 2001
Convergence for Difference Equations with Vanishing Time Dependence (with Seppo Honkapohja), Economic Theory, 2000
Learning Dynamics (with Seppo Honkapohja), Handbook of Macroeconomics, 1999
Growth Cycles (with Seppo Honkapohja and Paul Romer), American Economic Review, 1998
Calculation, Adaptation and Rational Expectations (with Garey Ramey), Macroeconomic Dynamics, 1998
Economic Dynamics With Learning: New Stability Results (with Seppo Honkapohja), Review of Economic Studies, 1998
Local Convergence of Recursive Learning to Steady states and Cycles in Stochastic Nonlinear Models (with Seppo Honkapohja), Econometrica, 1995
On the Stability of Sunspot Equilibria under Adaptive Learning Rules (with Seppo Honkapohja), Journal of Economic Theory, 1994
Information, Forecasts and Measurement of the Business Cycle (with Lucrezia Reichlin), Journal of Monetary Economics, 1994
Rationalizability, Strong Rationality and Expectational Stability (with Roger Guesnerie), Games and Economic Behavior, 1993
On the Preservation of Deterministic Cycles when some Agents Perceive Them to be Random Fluctuations (with Seppo Honkapohja and Thomas J. Sargent), Journal of Economic Dynamics and Control, 1993
Expectation Calculation and Macroeconomic Dynamics (with Garey Ramey), American Economic Review, 1992
On the Robustness of Bubbles in Linear RE Models (with Seppo Honkapohja), International Economic Review, 1992
Pitfalls in Testing for Explosive Bubbles in Asset Prices, American Economic Review, 1991
Output and Unemployment Dynamics in the United States: 1950-1985, Journal of Applied Econometrics, 1989
The Fragility of Sunspots and Bubbles, Journal of Monetary Economics, 1989
A Complete Characterization of ARMA solutions to Linear Rational Expectations Models (with Seppo Honkapohja), Review of Economic Studies, 1986
A Test for Speculative Bubbles in the Sterling-Dollar Exchange Rate: 1981-84, American Economic Review, 1986
Selection Criteria for Models with Non-Uniqueness, Journal of Monetary Economics, 1986
Expectational Stability and the Multiple Equilibria Problem in Linear Rational Expectations Models, Quarterly Journal of Economics, 1985
Bottlenecks and the Phillips Curve: a Disaggregated Keynesian Model of Inflation, Output and Unemployment, Economic Journal, 1985
Commentary
- Register Guard guest column, Dec. 20, 2001: State badly needs a rainy day fund
Encyclopedia Entry
- Economics of Expectations. International Encyclopedia of the Social and Behavioral Sciences, 2001.
Paper reprints of published papers available on request. PDF files of reprints are available from me in many cases. Send me an email, write or phone.

Contact me via

Office mailing address

Department of Economics
1285 University of Oregon
Eugene, OR 97403-1285

E-mail to gevans "at" uoregon "dot" edu
Office phone: (541)-346-4662
Office fax: (541)-346-1243

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