Title: Rational expectations and econometric practice / edited by Robert E. Lucas, Jr. and Thomas J. Sargent ; : pbk.-- Allen & Unwin; 1981.
Publisher: George Allen & Unwin, London, &c.
Publication Date: 1981
Language: English
ISBN 10: 0043390196
ISBN 13: 9780043390191
Binding: Softcover
Condition: Good

About this title

Synopsis

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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Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible to scholars, students, researchers, and general readers. Rich with historical and cultural value, these works are published unaltered from the original University of Minnesota Press editions. The books offered through Minnesota Archive Editions are produced in limited quantities according to customer demand and are available through select distribution partners.

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