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Author: Robert E. Lucas
Publisher: U of Minnesota Press
ISBN: 1452908281
Category :
Languages : en
Pages : 335
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Book Description
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: Robert E. Lucas
Publisher: U of Minnesota Press
ISBN: 1452908281
Category :
Languages : en
Pages : 335
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Book Description
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: Thomas J. Sargent
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Robert E. Lucas (Jr.)
Publisher:
ISBN: 9780816609161
Category : Econometrics
Languages : en
Pages : 689
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Book Description
Author: Peter Nathan Ireland
Publisher:
ISBN:
Category : Economic forecasting
Languages : en
Pages : 7
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Book Description
Author: Peter N. Ireland
Publisher:
ISBN:
Category :
Languages : en
Pages : 9
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Book Description
Athanasios Orphanides and John C. Williams' excellent conference paper, “Inflation Scares and Forecast-Based Monetary Policy,” contributes importantly to the new and rapidly growing branch of the literature on bounded rationality and learning in macroeconomics. Their paper, like many others, derives interesting and useful theoretical results that show how the introduction of bounded rationality and learning impacts on the effects of monetary policy shocks and the characteristics of optimal monetary policy rules. This note suggests that some additional empirical work -- some “irrational expectations econometrics,” if you will -- might serve to make these purely theoretical results seem more relevant and convincing.
Author: Lars Peter Hansen
Publisher: CRC Press
ISBN: 1000308960
Category : Mathematics
Languages : en
Pages : 294
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Book Description
At the core of the rational expectations revolution is the insight that economic policy does not operate independently of economic agents' knowledge of that policy and their expectations of the effects of that policy. This means that there are very complicated feedback relationships existing between policy and the behaviour of economic agents, and these relationships pose very difficult problems in econometrics when one tries to exploit the rational expectations insight in formal economic modelling. This volume consists of work by two rational expectations pioneers dealing with the "nuts and bolts" problems of modelling the complications introduced by rational expectations. Each paper deals with aspects of the problem of making inferences about parameters of a dynamic economic model on the basis of time series observations. Each exploits restrictions on an econometric model imposed by the hypothesis that agents within the model have rational expectations.
Author: L. Broze
Publisher: Elsevier
ISBN: 1483296288
Category : Business & Economics
Languages : en
Pages : 249
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Book Description
This book is devoted to the econometric analysis of linear multivariate rational expectation models. It shows that the interpretation of multiplicity in terms of "new degrees of freedom" is consistent with a rigorous econometric reasoning. Non-uniqueness is the central theme of this book. Each chapter is concerned with a specific econometric aspect of rational expectations equilibria. The most constructive result lies in the possibility of an empirical determination of the equilibrium followed by the economy.
Author: Kenneth Holden
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 19
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Book Description
Author: Graham Keith Shaw
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 150
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Book Description
Author: Dennis Lee Hoffman
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 290
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Book Description
