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Author | : Stanley Fischer |
Publisher | : University of Chicago Press |
Total Pages | : 306 |
Release | : 2008-04-15 |
Genre | : Business & Economics |
ISBN | : 0226251330 |
Download Rational Expectations and Economic Policy Book in PDF, ePub and Kindle
"Several areas in economics today have unprecedented significance and vitality. Most people would agree that stabilization policy ranks with the highest of these. Continuing inflation and periodic serious acceleration of inflation combined with high and secularly rising unemployment combine to give the area high priority. This book brings us up to date on an extremely lively discussion involving the role of expectations, and more particularly rational expectations, in the conduct of stabilization policy. . . . Anyone interested in the role of government in economics should read this important book."—C. Glyn Williams, The Wall Street Review of Books "This is a most timely and valuable contribution. . . . The contributors and commentators are highly distinguished and the editor has usefully collated comments and the ensuing discussion. Unusually for a conference proceedings the book is well indexed and it is also replete with numerous and up-to-date references. . . . This is the first serious book to examine the rational expectations thesis in any depth, and it will prove invaluable to anyone involved with macroeconomic policy generally and with monetary economics in particular."—G. K. Shaw, The Economic Journal
Author | : Thomas J. Sargent |
Publisher | : Princeton University Press |
Total Pages | : 390 |
Release | : 2013-05-05 |
Genre | : Business & Economics |
ISBN | : 1400847648 |
Download Rational Expectations and Inflation Book in PDF, ePub and Kindle
A fully expanded edition of the Nobel Prize–winning economist's classic book This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. Here, Sargent engages with practical problems in economics in a less formal, noneconometric way, demonstrating how rational expectations can satisfactorily interpret a range of historical and contemporary events. He focuses on periods of actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation, from the French Revolution and the aftermath of World War I to the economic policies of Margaret Thatcher and Ronald Reagan, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated. This fully expanded edition of Rational Expectations and Inflation includes Sargent's 2011 Nobel lecture, "United States Then, Europe Now." It also features new articles on the macroeconomics of the French Revolution and government budget deficits.
Author | : Frederic S. Mishkin |
Publisher | : University of Chicago Press |
Total Pages | : 184 |
Release | : 2007-11-01 |
Genre | : Business & Economics |
ISBN | : 0226531929 |
Download A Rational Expectations Approach to Macroeconometrics Book in PDF, ePub and Kindle
A Rational Expectations Approach to Macroeconometrics pursues a rational expectations approach to the estimation of a class of models widely discussed in the macroeconomics and finance literature: those which emphasize the effects from unanticipated, rather than anticipated, movements in variables. In this volume, Fredrick S. Mishkin first theoretically develops and discusses a unified econometric treatment of these models and then shows how to estimate them with an annotated computer program.
Author | : Stanley Fischer |
Publisher | : University of Chicago Press |
Total Pages | : 304 |
Release | : 1984-07-01 |
Genre | : Business & Economics |
ISBN | : 9780226251349 |
Download Rational Expectations and Economic Policy Book in PDF, ePub and Kindle
"Several areas in economics today have unprecedented significance and vitality. Most people would agree that stabilization policy ranks with the highest of these. Continuing inflation and periodic serious acceleration of inflation combined with high and secularly rising unemployment combine to give the area high priority. This book brings us up to date on an extremely lively discussion involving the role of expectations, and more particularly rational expectations, in the conduct of stabilization policy. . . . Anyone interested in the role of government in economics should read this important book."—C. Glyn Williams, The Wall Street Review of Books "This is a most timely and valuable contribution. . . . The contributors and commentators are highly distinguished and the editor has usefully collated comments and the ensuing discussion. Unusually for a conference proceedings the book is well indexed and it is also replete with numerous and up-to-date references. . . . This is the first serious book to examine the rational expectations thesis in any depth, and it will prove invaluable to anyone involved with macroeconomic policy generally and with monetary economics in particular."—G. K. Shaw, The Economic Journal
Author | : Steven M. Sheffrin |
Publisher | : Cambridge University Press |
Total Pages | : 204 |
Release | : 1996-06-13 |
Genre | : Business & Economics |
ISBN | : 9780521479394 |
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This book develops the idea of rational expectations and surveys its use in economics today.
Author | : Graham Keith Shaw |
Publisher | : |
Total Pages | : 150 |
Release | : 1984 |
Genre | : Business & Economics |
ISBN | : |
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Author | : Michael Carter |
Publisher | : Springer |
Total Pages | : 176 |
Release | : 1984-11-15 |
Genre | : Business & Economics |
ISBN | : 1349176443 |
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Author | : Robert E. Lucas |
Publisher | : U of Minnesota Press |
Total Pages | : 335 |
Release | : 1988 |
Genre | : |
ISBN | : 1452908281 |
Download Rational Expectations and Econometric Practice Book in PDF, ePub and Kindle
Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
Author | : William Darity |
Publisher | : Routledge |
Total Pages | : 177 |
Release | : 2004-03-04 |
Genre | : Business & Economics |
ISBN | : 1134886241 |
Download Economics, Economists and Expectations Book in PDF, ePub and Kindle
The concept of rational expectations has played a hugely important role in economics over the years. Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the 'founding fathers' of the models themselves are also presented here for the first time. The authors trace the development of different approaches to expectations from the likes of Hayek, Morgenstern, and Coase right up to more modern theorists such as Friedman, Patinkin, Phelps and Lucas. The startling conclusion that there was no 'Rational Expectations Revolution' is articulated, supported and defended with impressive clarity and authority. A necessity for economists across the world, this book will deserve its place upon many an academic bookshelf.
Author | : Thomas J. Sargent |
Publisher | : Princeton University Press |
Total Pages | : 389 |
Release | : 2013-05-05 |
Genre | : Business & Economics |
ISBN | : 0691158703 |
Download Rational Expectations and Inflation Book in PDF, ePub and Kindle
A fully expanded edition of the Nobel Prize–winning economist's classic book This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. Here, Sargent engages with practical problems in economics in a less formal, noneconometric way, demonstrating how rational expectations can satisfactorily interpret a range of historical and contemporary events. He focuses on periods of actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation, from the French Revolution and the aftermath of World War I to the economic policies of Margaret Thatcher and Ronald Reagan, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated. This fully expanded edition of Rational Expectations and Inflation includes Sargent's 2011 Nobel lecture, "United States Then, Europe Now." It also features new articles on the macroeconomics of the French Revolution and government budget deficits.