Rational Expectations and Econometric Practice: Volume 2: 002 - Softcover

 
9780816610716: Rational Expectations and Econometric Practice: Volume 2: 002
Softcover
ISBN 10: 0816610711 ISBN 13: 9780816610716
Publisher: University of Minnesota Press, 1981

Synopsis

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, government subsidy schemes and regulations. The doctrine of rational expectations uses standard economic methods to explain how those expectations are formed.

This work collects the papers that have made significant contributions to formulating the idea of rational expectations. Most of the papers deal with the connections between observed economic behavior and the evaluation of alternative economic policies.

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About the Author

Robert E. Lucas Jr is a professor of economics at the University of Chicago, and was awarded a Nobel Price in Economics in 1995. Thomas J. Sargent is the Berkley Professor of Economics and Business at New York University.

"About this title" may belong to another edition of this title.

Publisher
University of Minnesota Press
Publication date
1981
Language
English
ISBN 10 
0816610711
ISBN 13 
9780816610716
Binding
Paperback
Number of pages
340
Editor
Lucas Robert, Sargent Thomas