The Role of model uncertainty and learning in the U.S. postwar policy response to oil prices

This paper studies optimal monetary policy in a framework that explicitly accounts for policymakers' uncertainty about the channels of transmission of oil prices into the economy. More specfically, I examine the robust response to the real price of oil that US monetary authorities would have been recommended to implement in the period 1970 2009; had they used the approach proposed by Cogley and Sargent (2005b) to incorporate model uncertainty and learning into policy decisions. In this context, I investigate the extent to which regulator' changing beliefs over different models of the economy play a role in the policy selection process. The main conclusion of this work is that, in the specific environment under analysis, one of the underlying models dominates the optimal interest rate response to oil prices. This result persists even when alternative assumptions on the model's priors change the pattern of the relative posterior probabilities, and can thus be attributed to the presence of model uncertainty itself.

Cooperative learning: learning to cooperate, cooperating to learn

This research project is an attempt to give arguments in favour of using cooperative learning activities in FL classrooms as an effective approach to learning. The arguments offered are presented from two different perspectives: the first one is based on the empirical study of three students working together to achieve a common goal. The second one is a compilation of the trainee teacher's experiences during her practicum periods in a high school regarding group work. This part is illustrated by some examples that emphasize that cooperative learning can facilitate learning, promote socialisation and increase students' self-esteem