Darity / Leeson / Young Economics, Economists and Expectations

From Microfoundations to Macroapplications
Erscheinungsjahr 2004
ISBN: 978-1-134-88623-4
Verlag: CRC Press
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 176 Seiten

Reihe: Routledge Studies in the History of Economics

The concept of rational expectations has played a hugely important role in economics over the years. Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the 'founding fathers' of the models themselves are also presented here for the first time. The authors trace the development of different approaches to expectations from the likes of Hayek, Morgenstern, and Coase right up to more modern theorists such as Friedman, Patinkin, Phelps and Lucas.

The startling conclusion that there was no 'Rational Expectations Revolution' is articulated, supported and defended with impressive clarity and authority. A necessity for economists across the world, this book will deserve its place upon many an academic bookshelf.

Autoren/Hrsg.

Darity, William

Leeson, Robert

Young, Warren

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie

Inhaltsverzeichnis

1. From Hayek to Vernon Smith: Prices, the Cobweb and Game Theory 2. The Hart Research Agenda: Information, Anticipation and the Firm 3. Expectations Research Projects: From Illinois to Carnegie Tech 4. Muth, Mills and Tinbergen 5. December 1959 and its Aftermath 6. Patinkin, Expectations and Chicago 7. Expectations and the Monetarist Counterrevolution