Description: Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' ExaminedRoman Frydman Cambridge University Press Paperback Unused and unread, cosmetic imperfections such as scuffs, creases or knocks. Stamped 'damaged' by publisher to a non-text page. EAN: 9780521310956 Published 12/08/2010 Language: English Growing out of a conference on Expectations Formation and Economic Disequilibrium held in New York City in 1981, the papers in this volume provide a complex view of market processes in which individual rationality is no guarantee of convergence to the 'correct' model and the equilibrium coordination of agents' plans. They reject the 'optimality' argument for the rational expectations hypothesis, opening the door to other hypotheses of optimal expectations of agents in the decentralized market economy. Preface 1. Introduction Roman Frydman and Edmund S. Phelps 2. The trouble with 'rational expectations' and the problem of inflation stabilization Edmund S. Phelps Comment Phillip Cagan 3. Expectations of others' expectations and the transitional nonneutrality of fully believed systematic monetary policy Juan Carlos Di Tata Comment Clive Bull 4. The stability of rational expectations in macroeconomic models George Evans Comment Guillermo A. Calvo 5. Individual rationality, decentralization, and the rational expectations hypothesis Roman Frydman 6. Convergence to rational expectations equilibrium Margaret Bray Comment Roy Radner 7. A distinction between the unconditional expectational equilibrium and the rational expectations equilibrium Roman Frydman 8. On mistaken beliefs and resultant equilibria Alan Kirman Comment Jerry Green 9. Equilibrium theory with learning and disparate expectations some issues and methods Robert M. Townsend Comment John B. Taylor 10. Keynesianism, monetarism, and rational expectations some reflections and conjectures Axel Leijonhufvud Comment Frank Hahn Index. DispatchIn stock here - same-day dispatch from England. My SKU: 3276099RefundsNo-hassle refunds are always available if your book is not as expected.Terms and Conditions of SaleSorry - no collections. All sales are subject to extended Terms and Conditions of Sale as well as the Return Policy and Payment Instructions. Visit my eBay Store for details andmany more books. Template layout and design, "JNC Academic Books", "needbooks", Copyright © JNC INC. Designated trademarks, layouts and brands are the property of their respective owners. All Rights Reserved.
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Title: Individual Forecasting and Aggregate Outcomes: 'Rational Expectat
ISBN: 0521310954
Pages: 250
Number of Pages: 250 Pages
Publication Name: Individual Forecasting and Aggregate Outcomes: 'rational Expectations' Examined
Language: English
Publisher: Cambridge University Press
Item Height: 229 mm
Subject: Economics, Mathematics
Publication Year: 1986
Type: Textbook
Item Weight: 370 g
Author: Roman Frydman, Edmund S. Phelps
Item Width: 152 mm
Format: Paperback
