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Rational Expectations in Macroeconomic Models formatIsbn:Hardcover - 9780792319030 Die vorliegende Arbeit soll diesbezüglich

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Rational Expectations in Macroeconomic Models formatIsbn:Hardcover - 9780792319030 Die vorliegende Arbeit soll diesbezüglichIt is commonly believed that macroeconomic models are not useful for policy analysis because they do not take proper account of agents' expectations. Over the last decade, mainstream macroeconomic models in the UK and elsewhere have taken on board the `Rational Expectations Revolution' by explicitly incorporating expectations of the future. In principle, one can perform the same technical exercises on a forward expectations model as on a conventional

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