Economics, Economists and Expectations
From Microfoundations to Macroapplications
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Economics, Economists and Expectations by Warren Young
Book DescriptionThe 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of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart.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.
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Book DetailsISBN: 9780415085151
(234mm x 156mm x 19mm)
Publisher: Taylor & Francis Ltd
Publish Date: 4-Mar-2004
Country of Publication: United Kingdom
Books By Author Warren Young
Economics, Economists and Expectations, Paperback (September 2012)
Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this work makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart.
Real Business Cycle Models in Economics, Hardback (June 2010)
Describes the intellectual process by which Real Business Cycle models developed, focusing on the core elements in the development of RBC models: building blocks, catalysts, and meta-syntheses.
Theories of International Trade, Hardback (December 2005)» View all books by Warren Young
Utilizing the inter-temporal open economy model as a case study, this book illuminates the phenomenon of recurrence and the problem of recurring doctrines in economic thought and analysis. This book is useful to scholars in the history of economic thought, and to international economists in general.
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