https://nunziofallico.github.io/tags/memory-model/Recent content in Memory Model on Nunzio FallicoHugo -- 0.147.2enTue, 07 Jul 2026 00:00:00 +0000https://nunziofallico.github.io/workinprogress/ie/Tue, 07 Jul 2026 00:00:00 +0000https://nunziofallico.github.io/workinprogress/ie/This paper uses bank inflation forecasts (1989–2022) for 18 advanced economies to show that forecasts underreact at short horizons but overreact at long horizons, generating predictable real bond returns; a memory-based learning model explains these biases, their cross-country variation, and the resulting redistribution from borrowers to lenders.