Economics Economists And Expectations PDF Download
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Author | : William Darity |
Publisher | : Routledge |
Total Pages | : 315 |
Release | : 2004-03-04 |
Genre | : Business & Economics |
ISBN | : 1134886233 |
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of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart.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 '
Author | : George W. Evans |
Publisher | : Princeton University Press |
Total Pages | : 440 |
Release | : 2012-01-06 |
Genre | : Business & Economics |
ISBN | : 1400824265 |
Download Learning and Expectations in Macroeconomics Book in PDF, ePub and Kindle
A crucial challenge for economists is figuring out how people interpret the world and form expectations that will likely influence their economic activity. Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expectations. Here George Evans and Seppo Honkapohja bring new explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational expectations paradigm offers the prevailing method to determining expectations, it assumes very theoretical knowledge on the part of economic actors. Evans and Honkapohja contribute to a growing body of research positing that households and firms learn by making forecasts using observed data, updating their forecast rules over time in response to errors. This book is the first systematic development of the new statistical learning approach. Depending on the particular economic structure, the economy may converge to a standard rational-expectations or a "rational bubble" solution, or exhibit persistent learning dynamics. The learning approach also provides tools to assess the importance of new models with expectational indeterminacy, in which expectations are an independent cause of macroeconomic fluctuations. Moreover, learning dynamics provide a theory for the evolution of expectations and selection between alternative equilibria, with implications for business cycles, asset price volatility, and policy. This book provides an authoritative treatment of this emerging field, developing the analytical techniques in detail and using them to synthesize and extend existing research.
Author | : Steven M. Sheffrin |
Publisher | : Cambridge University Press |
Total Pages | : 204 |
Release | : 1996-06-13 |
Genre | : Business & Economics |
ISBN | : 9780521479394 |
Download Rational Expectations Book in PDF, ePub and Kindle
This book develops the idea of rational expectations and surveys its use in economics today.
Author | : R. Koppl |
Publisher | : Palgrave Macmillan |
Total Pages | : 266 |
Release | : 2002-06-19 |
Genre | : Business & Economics |
ISBN | : 9780333678268 |
Download Big Players and the Economic Theory of Expectations Book in PDF, ePub and Kindle
Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory of expectations that assumes people interpret their situations in unpredictable ways. Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary policy interventions create ignorance and uncertainty. The volume uses innovative methods to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.
Author | : Ruediger Bachmann |
Publisher | : Elsevier |
Total Pages | : 876 |
Release | : 2022-11-04 |
Genre | : Business & Economics |
ISBN | : 0128234768 |
Download Handbook of Economic Expectations Book in PDF, ePub and Kindle
Handbook of Economic Expectations discusses the state-of-the-art in the collection, study and use of expectations data in economics, including the modelling of expectations formation and updating, as well as open questions and directions for future research. The book spans a broad range of fields, approaches and applications using data on subjective expectations that allows us to make progress on fundamental questions around the formation and updating of expectations by economic agents and their information sets. The information included will help us study heterogeneity and potential biases in expectations and analyze impacts on behavior and decision-making under uncertainty. Combines information about the creation of economic expectations and their theories, applications and likely futures Provides a comprehensive summary of economics expectations literature Explores empirical and theoretical dimensions of expectations and their relevance to a wide array of subfields in economics
Author | : Paul R. Krugman |
Publisher | : MIT Press |
Total Pages | : 260 |
Release | : 1997 |
Genre | : Business & Economics |
ISBN | : 9780262611343 |
Download The Age of Diminished Expectations Book in PDF, ePub and Kindle
This edition looks at how risky behaviour can lead to disaster in private markets, with colourful examples from Lloyd's of London and Sumitomo Metals. Krugman also considers the collapse of the Mexican peso, and the burst of Japan's 'bubble' economy.
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 | : Arie Arnon |
Publisher | : Springer Nature |
Total Pages | : 244 |
Release | : 2020-03-20 |
Genre | : Business & Economics |
ISBN | : 3030413578 |
Download Expectations Book in PDF, ePub and Kindle
This book provides a unique historical perspective on expectations in economic theory, and applications of expectations models in economic history. Based on papers presented at the 2017 Thomas Guggenheim Conference, it brings together the work of economists, historians of economics, and economic historians on issues and events concerning expectations in economics and economic history. The contributions address: (i) the history of expectations models; (ii) growth, expectations and political economy; (iii) controversies regarding expectations methods and models; (iv) expectations in theory and reality; and (v) expectations in economic history. The book opens with a lecture by Thomas Guggenheim Prize winner Duncan Foley on the evolution of expectations in modern economic thought. The remaining content is divided into two parts, the first of which focuses on the utilization of expectations in the “ancient” and “meso” periods of high theory, i.e., from Smithian to Keynesian approaches. The papers cover topics such as “modern” applications of expectations in both “Tobinesque-Phillips” and “Harrodian-Solowian” contexts, and the debate between Friedmanite and Keynesian approaches to expectation formation. In turn, the last part presents essays on the role of economic expectations in connection with historical events and contexts, ranging from the early 20th century to World War II, and on the application of expectations theory to hyperinflation and stabilization, taking Israel as a case study.
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 | : Warren Young (Wirtschaftswissenschaftler.) |
Publisher | : |
Total Pages | : 160 |
Release | : 2004 |
Genre | : Economics |
ISBN | : 9780203673836 |
Download Economics, Economists, and Expectations Book in PDF, ePub and Kindle