{"id":"https://openalex.org/W2019096766","doi":"https://doi.org/10.1353/mcb.2003.0014","title":"Desirability of Nominal GDP Targeting under Adaptive Learning","display_name":"Desirability of Nominal GDP Targeting under Adaptive Learning","publication_year":2003,"publication_date":"2003-01-01","ids":{"openalex":"https://openalex.org/W2019096766","doi":"https://doi.org/10.1353/mcb.2003.0014","mag":"2019096766"},"language":"en","primary_location":{"id":"doi:10.1353/mcb.2003.0014","doi":"https://doi.org/10.1353/mcb.2003.0014","is_oa":false,"landing_page_url":"https://doi.org/10.1353/mcb.2003.0014","pdf_url":null,"source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit, and Banking","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101443772","display_name":"Kaushik Mitra","orcid":"https://orcid.org/0000-0002-1140-6642","observed_orcids":["https://orcid.org/0000-0002-1140-6642"]},"institutions":[{"id":"https://openalex.org/I52099693","display_name":"University of York","ror":"https://ror.org/04m01e293","country_code":"GB","type":"education","lineage":["https://openalex.org/I52099693"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Kaushik Mitra","raw_affiliation_strings":["Department of Economics University of York Heslington, York YO10 5DD United Kingdom"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics University of York Heslington, York YO10 5DD United Kingdom","institution_ids":["https://openalex.org/I52099693"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5101443772"],"corresponding_institution_ids":["https://openalex.org/I52099693"],"apc_list":{"value":3800,"currency":"USD","value_usd":3800},"apc_paid":null,"fwci":4.7401,"has_fulltext":false,"cited_by_count":25,"citation_normalized_percentile":{"value":0.95260818,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"35","issue":"2","first_page":"197","last_page":"220"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9491999745368958,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9491999745368958,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0494999997317791,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/nominal-gdp-targeting","display_name":"nominal GDP targeting","score":0.9990000128746033},{"id":"https://openalex.org/keywords/adaptive-learning","display_name":"adaptive learning","score":0.9649999737739563},{"id":"https://openalex.org/keywords/recursive-learning","display_name":"recursive learning","score":0.8859999775886536},{"id":"https://openalex.org/keywords/rational-expectations","display_name":"rational expectations","score":0.8830000162124634},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.7409999966621399},{"id":"https://openalex.org/keywords/microfoundations","display_name":"microfoundations","score":0.7580000162124634},{"id":"https://openalex.org/keywords/inflation-stability","display_name":"inflation stability","score":0.890999972820282},{"id":"https://openalex.org/keywords/output-stability","display_name":"output stability","score":0.8600000143051147},{"id":"https://openalex.org/keywords/stability-criteria","display_name":"stability criteria","score":0.3269999921321869}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.755715012550354},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.7190631628036499},{"id":"https://openalex.org/C84888623","wikidata":"https://www.wikidata.org/wiki/Q1205832","display_name":"Nominal interest rate","level":4,"score":0.6778346300125122},{"id":"https://openalex.org/C181683161","wikidata":"https://www.wikidata.org/wiki/Q7301159","display_name":"Real gross domestic product","level":2,"score":0.5992462635040283},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.5635907053947449},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.5519862174987793},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.47332486510276794},{"id":"https://openalex.org/C112972136","wikidata":"https://www.wikidata.org/wiki/Q7595718","display_name":"Stability (learning theory)","level":2,"score":0.4183158278465271},{"id":"https://openalex.org/C148226144","wikidata":"https://www.wikidata.org/wiki/Q1041933","display_name":"Classical dichotomy","level":5,"score":0.41380977630615234},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3311619758605957},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3298555612564087},{"id":"https://openalex.org/C154815372","wikidata":"https://www.wikidata.org/wiki/Q1140421","display_name":"Real interest rate","level":3,"score":0.26829391717910767},{"id":"https://openalex.org/C84666643","wikidata":"https://www.wikidata.org/wiki/Q3725134","display_name":"Endogenous money","level":3,"score":0.10726466774940491},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.09930142760276794},{"id":"https://openalex.org/C130625013","wikidata":"https://www.wikidata.org/wiki/Q1323540","display_name":"Velocity of money","level":4,"score":0.05826538801193237},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1353/mcb.2003.0014","doi":"https://doi.org/10.1353/mcb.2003.0014","is_oa":false,"landing_page_url":"https://doi.org/10.1353/mcb.2003.0014","pdf_url":null,"source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit, and Banking","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:yor:yorken:00/60","doi":null,"is_oa":false,"landing_page_url":"https://www.york.ac.uk/media/economics/documents/discussionpapers/2000/0060.pdf","pdf_url":"https://www.york.ac.uk/media/economics/documents/discussionpapers/2000/0060.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:muse.jhu.edu:/article/41883","doi":null,"is_oa":false,"landing_page_url":"https://muse.jhu.edu/article/41883","pdf_url":null,"source":{"id":"https://openalex.org/S4377196299","display_name":"Project Muse (Johns Hopkins University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I145311948","host_organization_name":"Johns Hopkins University","host_organization_lineage":["https://openalex.org/I145311948"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"text"},{"id":"pmh:oai:pure.atira.dk:openaire_cris_publications/20322e78-201a-44bd-be21-7523d3cf48e1","doi":null,"is_oa":false,"landing_page_url":"https://research.birmingham.ac.uk/en/publications/20322e78-201a-44bd-be21-7523d3cf48e1","pdf_url":null,"source":{"id":"https://openalex.org/S4306402634","display_name":"University of Birmingham Research Portal (University of Birmingham)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I79619799","host_organization_name":"University of Birmingham","host_organization_lineage":["https://openalex.org/I79619799"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Mitra, K 2003, 'Desirability of Nominal GDP Targeting under Adaptive Learning', Journal of Money, Credit and Banking, vol. 35, no. 2, pp. 197-220. https://doi.org/10.1353/mcb.2003.0014","raw_type":"article"},{"id":"pmh:oai:pure.atira.dk:publications/20322e78-201a-44bd-be21-7523d3cf48e1","doi":null,"is_oa":false,"landing_page_url":"https://www.jstor.org/stable/3649854","pdf_url":null,"source":{"id":"https://openalex.org/S4306402634","display_name":"University of Birmingham Research Portal (University of Birmingham)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I79619799","host_organization_name":"University of Birmingham","host_organization_lineage":["https://openalex.org/I79619799"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Mitra , K 2003 , ' Desirability of Nominal GDP Targeting under Adaptive Learning ' , Journal of Money, Credit and Banking , vol. 35 , no. 2 , pp. 197-220 . https://doi.org/10.1353/mcb.2003.0014","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":58,"referenced_works":["https://openalex.org/W113243321","https://openalex.org/W1482401614","https://openalex.org/W1493376445","https://openalex.org/W1541289858","https://openalex.org/W1564896820","https://openalex.org/W1573140239","https://openalex.org/W1585441176","https://openalex.org/W1595901044","https://openalex.org/W1975136362","https://openalex.org/W1977168372","https://openalex.org/W1981111096","https://openalex.org/W1988466436","https://openalex.org/W1992372601","https://openalex.org/W2002441046","https://openalex.org/W2003830355","https://openalex.org/W2007028926","https://openalex.org/W2012546528","https://openalex.org/W2020134360","https://openalex.org/W2020619809","https://openalex.org/W2025823513","https://openalex.org/W2034092481","https://openalex.org/W2051754685","https://openalex.org/W2059964646","https://openalex.org/W2067585203","https://openalex.org/W2067783721","https://openalex.org/W2079284580","https://openalex.org/W2090766058","https://openalex.org/W2098460991","https://openalex.org/W2101000159","https://openalex.org/W2111298203","https://openalex.org/W2127680685","https://openalex.org/W2129987507","https://openalex.org/W2132814156","https://openalex.org/W2135429728","https://openalex.org/W2135684574","https://openalex.org/W2148925703","https://openalex.org/W2166387173","https://openalex.org/W2329336592","https://openalex.org/W2490363778","https://openalex.org/W2741645584","https://openalex.org/W2992573040","https://openalex.org/W3022712314","https://openalex.org/W3023652150","https://openalex.org/W3121687115","https://openalex.org/W3122056445","https://openalex.org/W3122270349","https://openalex.org/W3122722388","https://openalex.org/W3123235249","https://openalex.org/W3123418487","https://openalex.org/W3123859957","https://openalex.org/W3124644057","https://openalex.org/W3124679328","https://openalex.org/W3124712366","https://openalex.org/W3124882988","https://openalex.org/W3125135614","https://openalex.org/W3125592855","https://openalex.org/W4205593903","https://openalex.org/W4388113914"],"related_works":["https://openalex.org/W1512308836","https://openalex.org/W1920992699","https://openalex.org/W2012546528","https://openalex.org/W6982582696","https://openalex.org/W6960236183","https://openalex.org/W4393169916","https://openalex.org/W2921992843","https://openalex.org/W3033780778","https://openalex.org/W7009712166","https://openalex.org/W83085765"],"abstract_inverted_index":{"Nominal":[0],"GDP":[1,56],"targeting":[2,57],"has":[3],"been":[4],"advocated":[5],"by":[6],"a":[7,51,62,88],"number":[8],"of":[9,16,22,31,41,61,76,81],"authors":[10],"since":[11],"it":[12],"produces":[13],"relative":[14],"stability":[15,46],"inflation":[17],"and":[18],"output.":[19],"However,":[20],"all":[21],"the":[23,29,59,71,74,82],"papers":[24],"assume":[25],"rational":[26],"expectations":[27],"on":[28],"part":[30],"private":[32],"agents.":[33],"In":[34],"this":[35,42],"paper":[36,83],"I":[37,44],"provide":[38,84],"an":[39],"analysis":[40,75],"assumption.":[43],"use":[45],"under":[47],"recursive":[48],"learning":[49],"as":[50],"criterion":[52],"for":[53,73,86],"evaluating":[54],"nominal":[55],"in":[58],"context":[60],"model":[63],"with":[64],"explicit":[65],"micro-":[66],"foundations":[67],"which":[68],"is":[69],"currently":[70],"workhorse":[72],"monetary":[77,89],"policy.":[78,90],"The":[79],"results":[80],"support":[85],"such":[87]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}
