Makroekonomi üzerine makaleler

This dissertation consists of four essays on macroeconomics with a special focus on monetary economics, and shows the rationale behind non-optimality of expectation formation both empirically and theoretically. The first essay is empirical, and studies the role of inflation experience in the formation of inflation expectations in the euro area by investigating whether and to what extent inflation expectations of different forecasters are affected by the inflation they observe in the area they are residing in. The second essay analyzes whether and how model uncertainty affects the amplification mechanism of the New Keynesian models. The third essay analyzes how the optimal behavior of a central bank changes if the central bank has a concern for robustness regarding model uncertainty when there is a possibility of a regime switch in the economy in which the transmission mechanism of monetary policy weakens.