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Rational Expectations in Macroeconomics By C.L.F. Attfield

Rational Expectations in Macroeconomics
by C.L.F. Attfield

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Designed to explain the concept of rational expectations in macroeconomics, this book offers a comprehensive survey of the foundations, extensions and policy applications of the rational expectations hypothesis. This edition includes work on time inconsistency and variance.
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Rational Expectations in Macroeconomics Summary

Rational Expectations in Macroeconomics: An Introduction to Theory and Evidence by C.L.F. Attfield

Rational expectations has unquestionably become the standard way of modeling expectations in macroeconomics. Like the successful and widely-adopted first edition, this new edition is designed to explain the concept of rational expectations and its implications for macroeconomics.It fills the gap between introductory macroeconomics texts in which expectations formation is incidental and the technically advanced texts and journal literature on rational expectations.In this new edition, the authors have both extensively revised the presentation of much of the material covered and extended the coverage to include recent developments in the subject, most notably in the theory of aggregate consumption and the theory of real business cycles.

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Rational Expectations in Macroeconomics Reviews

"... A highly successful attempt to make this difficult, important and controversial field accessible to students. Strongly recommended." Times Higher Education Supplement "... A lucid introduction to rational expectations theory, its policy prescriptions and empirical applications." Sheila Dow, The Economic Journal

About C.L.F. Attfield

Clifford Attfield is Reader in Econometrics at University of Bristol.

David Demery is Senior Lecturer.

Nigel Duck is Reader in Economics at the University of Bristol.

Table of Contents

Preface. 1. Expectations in Macroeconomics. 2. The Theory of Rational Expectations. 3. Testing the Rational Expectations Hypothesis. 4. Rational Expectations and a Flexible Price Macroeconomic Model. 5. Criticisms of the Flexible Price Rational Expectations Model. 6. Rational Expectations and Macroeconomics: Two Influential Empirical Studies. 7. Criticism and Reappraisal of the Lucas and Barro Models. 8. Real Business Cycle Theory. 9. Rational Expectations and the Real Income Hypothesis. 10. Summary and Conclusions.

Additional information

Rational Expectations in Macroeconomics: An Introduction to Theory and Evidence by C.L.F. Attfield
C.L.F. Attfield
Used - Very Good
John Wiley and Sons Ltd
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us.