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Rational Expectations and Econometric Practice

Robert E Lucas Thomas J Sargent 1977

Online access

  • Title:
    Rational Expectations and Econometric Practice
  • Author: Robert E Lucas
  • Thomas J Sargent
  • Subjects: Econometrics; Economic policy; Monetary policy; Time-series analysis; Economic Theory; Business & Economics; Electronic books
  • Description: Contents; 4. General Applications; Investigating Causal Relations by Econometric Models and Cross-Spectral Methods; Money, Income, and Causality; Rational Expectations and the Dynamics of Hyperinflation; The Demand for Money during Hyperinflations under Rational Expectations; A Note on Maximum Likelihood Estimation of the Rational Expectations Model of the Term Structure; Estimation of Dynamic Labor Demand Schedules under Rational Expectations; Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence; 5. Testing for Neutrality
    A Classical Macroeconometric Model for the United StatesThe Observational Equivalence of Natural and Unnatural Rate Theories of Macroeconomics; Unanticipated Money Growth and Unemployment in the United States; Unanticipated Money, Output, and the Price Level in the United States; 6. Macroeconomic Control Problems; Rules Rather than Discretion: The Inconsistency of Optimal Plans; On the Time Consistency of Optimal Policy in a Monetary Economy; Estimation and Control of a Macroeconomic Model with Rational Expectations
    Estimation and Optimal Control of Dynamic Game Models under Rational Expectations
    Assumptins 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 beha
  • Publisher: Minneapolis : University of Minnesota Press
  • Creation Date: 1977
  • Format: 1 online resource (334 p.).
  • Language: English
  • Identifier: ISBN0-8166-5555-3;ISBN0-8166-1071-1
  • OCLC Number: 182732667
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  • Network Zone MMS ID: 9911582912103366
  • Source: 01TRAILS ALMA

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