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Rational expectations and econometric practice. Volume1 / edited by Robert E. Lucas, Jr. and Thomas J. Sargent.
- Format:
- Book
- Series:
- Rational Expectations and Econometric Practice ; 1
- Rational Expectations and Econometric Practice, v.1 ; v.1
- Language:
- English
- Subjects (All):
- Econometrics.
- Time-series analysis.
- Monetary policy--Mathematical models.
- Monetary policy.
- Economic policy--Mathematical models.
- Economic policy.
- Rational expectations (Economic theory).
- Physical Description:
- 1 online resource (409 pages)
- Edition:
- 1st ed.
- Place of Publication:
- Minneapolis : University of Minnesota Press, c1981.
- Language Note:
- English
- Summary:
- 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
- Contents:
- Contents; Introduction; 1. Implications of Rational Expectations and Econometric Practice; ""Rational Expectations and the Theory of Price Movements""; ""Optimal Properties of Exponentially Weighted Forecasts""; ""A Note on the 'Accelerationist' Controversy""; ""Distributed Lags and Optimal Investment Policy""; ""Optimal Investment with Rational Expectations""; ""Investment under Uncertainty""; ""Formulating and Estimating Dynamic Linear Rational Expectations Models""; ""Linear Rational Expectations Models for Dynamically Interrelated Variables""; 2. Macroeconomic Policy
- ""Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment"" ""Rational Expectations and the Theory of Economic Policy""; ""'Rational' Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule""; ""Rational Expectations and the Role of Monetary Policy""; ""Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule""; ""Price-Level Stickiness and the Feasibility of Monetary Stabilization Policy with Rational Expectations""; ""The Current State of the Policy-Ineffectiveness Debate""; 3. Econometric Methods: General
- ""After Keynesian Macroeconomics"" ""Estimation of Economic Relationships Containing Latent Expectations Variables""; ""Econometric Implications of the Rational Expectations Hypothesis""; ""Estimation of Rational Expectations Models""
- Notes:
- Description based upon print version of record.
- Includes bibliographies.
- ISBN:
- 0-8166-8162-7
- OCLC:
- 476162116
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