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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 | : 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.
Author | : Thomas J. Sargent |
Publisher | : New York : Harper & Row |
Total Pages | : 234 |
Release | : 1986 |
Genre | : Business & Economics |
ISBN | : |
Download Rational Expectations and Inflation Book in PDF, ePub and Kindle
Author | : Thomas J. Sargent |
Publisher | : HarperCollins College |
Total Pages | : 292 |
Release | : 1993 |
Genre | : Business & Economics |
ISBN | : |
Download Rational Expectations and Inflation Book in PDF, ePub and Kindle
Author | : Peter J. N. Sinclair |
Publisher | : Routledge |
Total Pages | : 402 |
Release | : 2009-12-16 |
Genre | : Business & Economics |
ISBN | : 1135179778 |
Download Inflation Expectations Book in PDF, ePub and Kindle
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Author | : Graham Keith Shaw |
Publisher | : |
Total Pages | : 150 |
Release | : 1984 |
Genre | : Business & Economics |
ISBN | : |
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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 | : Thomas J. Sargent |
Publisher | : Princeton University Press |
Total Pages | : 168 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : 9780691090122 |
Download The Conquest of American Inflation Book in PDF, ePub and Kindle
In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.
Author | : Eduard Jan Bomhoff |
Publisher | : North Holland |
Total Pages | : 264 |
Release | : 1980 |
Genre | : Business & Economics |
ISBN | : |
Download Inflation, the Quantity Theory, and Rational Expectations Book in PDF, ePub and Kindle
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