Individual Forecasting and Aggregate Outcomes : 'Rational Expectations' Examined

Frydman R. Oman, E. Phelps

ISBN 10: 0521310954 / ISBN 13: 9780521310956

Editore: Cambridge University Press, 2010

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Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher.

Codice articolo 8643787/202

Dati bibliografici

• Titolo: Individual Forecasting and Aggregate Outcomes : 'Rational Expectations' Examined
• Editore: Cambridge University Press
• Data di pubblicazione: 2010
• Lingua: Inglese
• ISBN 10: 0521310954
• ISBN 13: 9780521310956
• Rilegatura: Brossura
• Condizione: Sehr gut
• Cataloghi dei venditori:
  • Bücher

Descrizione articolo

Riassunto

The papers in this volume provide a complex view of market processes.

Recensione

'I recommend the book to economists interested in rational expectations for their own reading and for required reading in the graduate courses they teach.' Journal of Economic Literature

'After reading this excellent, stimulating book the uncommitted reader may well feel that there are several logical or methodological problems which imply that the usual class of models which embodies the rational expectations hypothesis is unattractive as a basis for some form of economic analysis, in particular, macroeconomic policy design ... I suspect that the concept of model theoretic expectations will generate useful insights in the modelling of expectations in a number of areas such as asset markets or arbitrage process. It naturally leads to a consideration of expectations generated as some weighted average of different models. I greatly enjoyed this book and can strongly recommend it.' The Economic Journal