ENGLISH

Rational expectations and econometric practice,

By Robert E. Lucas Jr. , Thomas J. Sargent

Book information

Publisher
Univ Of Minnesota Press
Year
1981
ISBN
0816609179
Language
english
Format
DJVU
Filesize
3 MB (3283067 bytes)
Volume
Vol. 1
Edition
Minnesota Archive Editions
Pages
409\409
Library
Kolxo3
DPI
300
Orientation
yes
Scanned
yes
Time added
2010-07-29 05:14:56

Description

Rational Expectations and Econometric Practice was first published in 1981. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions. 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. Robert E. Lucas, Jr., is professor of economics at the University of Chicago. Thomas J. Sargent is professor of economics at the University of Minnesota and adviser to the Federal Reserve Bank of Minnesota.

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