Rational Expectations and Econometric Practice: Volume 1
Publishing Details
Rational Expectations and Econometric Practice: Volume 1
By (Author) Robert E. Lucas Jr.
Edited by Thomas J. Sargent
University of Minnesota Press
University of Minnesota Press
13th November 1981
United States
Classifications
Tertiary Education
Non Fiction
330.015195
Physical Properties
408
Width 152mm, Height 229mm
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.
Author Bio
Thomas J. Sargent is the Berkley Professor of Economics and Business at New York University.
