Expectation Shocks and Learning as Drivers of the Business Cycle

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Macroeconomic Analysis Without the Rational Expectations Hypothesis (2013, background): “But even this understates the multiplicity of possible RBE.”
Behavioral & Experimental Macroeconomics and Policy Analysis: A Complex Systems Approach (2018, background): “…learning models often give a better fit to macro and financial data and are able to generating observed stylized facts in time series data, such as high persistence, excess volatility and clustered volatility (Evans & Honkapohja (2001); Sargent (1993), Milani (2007, 2011); Branch & Evans (2010).”