A Rational Expectations Equilibrium Model of the Cyclical Behavior of Employment and Inventories of Finished Goods PDF Download

Author: Martin Stewart Eichenbaum
Publisher:
ISBN:
Category :
Languages : en
Pages : 338

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Author: Martin S. Eichenbaum
Publisher:
ISBN:
Category :
Languages : en
Pages : 286

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Author: Charles H. Whiteman
Publisher: U of Minnesota Press
ISBN: 1452907935
Category : Business & Economics
Languages : en
Pages : 151

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Author: Thomas J. Sargent
Publisher: Routledge
ISBN: 1317329694
Category : Business & Economics
Languages : en
Pages : 223

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The essays in Energy, Foresight and Strategy apply rational expectation theory to various energy markets with the intention of discussing issues relevant to analysis and decision making in the whole of the energy field. Originally published in 1985, issues explored include oil exportation, energy prices and embargoes, both focussing on how past regulation has created issues in the market at the time of publication as well as creating models to ascertain the futures of various energy resources. This title will be of interest to students of Environmental Studies and Economics.

Author: Graham Keith Shaw
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 150

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Author: Roger Guesnerie
Publisher: MIT Press
ISBN: 9780262262903
Category : Business & Economics
Languages : en
Pages : 498

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A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test. The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory, macroeconomics, and general equilibrium to finance. In this book, Roger Guesnerie continues the critical analysis of the REH begun in his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised by multiplicity and its implications for a theory of endogenous fluctuations. This second volume emphasizes "eductive" learning: relying on careful reasoning, agents must deduce what other agents guess, a process that differs from the standard evolutionary learning experience in which agents make decisions about the future based on past experiences. A broad "eductive" stability test is proposed that includes common knowledge and results in a unique "rationalizable expectations equilibrium." This test provides the basis for Guesnerie's theoretical assessment of the plausibility of the REH's expectational coordination, emphasizing, for different categories of economic models, conditions for the REH's success or failure. Guesnerie begins by presenting the concepts and methods of the eductive stability analysis in selected partial equilibrium models. He then explores to what extent general equilibrium strategic complementarities interfere with partial equilibrium considerations in the formation of stable expectations. Guesnerie next examines two issues relating to eductive stability in financial market models, speculation and asymmetric price information. The dynamic settings of an infinite horizon model are then taken up, and particular standard and generalized saddle-path solutions are scrutinized. Guesnerie concludes with a review of general questions and some "cautious" remarks on the policy implications of his analysis.

Author:
Publisher:
ISBN:
Category : Dissertation abstracts
Languages : en
Pages : 552

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Author: Steven M. Sheffrin
Publisher: Cambridge University Press
ISBN: 9780521479394
Category : Business & Economics
Languages : en
Pages : 204

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This book develops the idea of rational expectations and surveys its use in economics today.

Author: University of Minnesota
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 466

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Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 532

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