The Wages Of Expectation

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Wage Expectations in the Labor Market

Author : Jonathan S. Leonard
Publisher : Cambridge, Mass. : National Bureau of Economic Research
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Wage Expectations in the Labor Market by : Jonathan S. Leonard

Download or read book Wage Expectations in the Labor Market written by Jonathan S. Leonard and published by Cambridge, Mass. : National Bureau of Economic Research. This book was released on 1980 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new set of directly observed wage expectations among firms, this paper finds that in general firms' forecasts fail the unbiasedness and efficiency requirements of weak-form rational expectations. These market participants consistently underestimate the wages they actually end up paying, and their expectations do not efficiently utilize the information in past realizations. The mean absolute forecast error of two percent compares with an error of only five percent if static expectations were held. The major source of wage fore-cast error seems to be errors in predicting demand, rather than in predicting supply or the general price level. Wage forecast errors are positively correlated across fields with distinct supply patterns, and are positively correlated with quantity forecast error. The properties of stochastically weighted expectations and the effectiveness of the wage and price controls of the early 1970's are also discussed.

Black Experiences Versus Black Expectations

Author : Melvin Humphrey
Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Black Experiences Versus Black Expectations by : Melvin Humphrey

Download or read book Black Experiences Versus Black Expectations written by Melvin Humphrey and published by . This book was released on 1977 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Knowledge, Information, and Expectations in Modern Macroeconomics

Author : Philippe Aghion
Publisher : Princeton University Press
ISBN 13 : 0691223939
Total Pages : pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Knowledge, Information, and Expectations in Modern Macroeconomics by : Philippe Aghion

Download or read book Knowledge, Information, and Expectations in Modern Macroeconomics written by Philippe Aghion and published by Princeton University Press. This book was released on 2021-01-12 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at which new technologies arise and information about markets is dispersed, information imperfections, and the heterogeneity of beliefs as determinants of an economy's performance. The contributions, which represent a breadth of contemporary theoretical approaches, cover topics including the real effects of monetary disturbances, difficulties in expectations formation, structural factors in unemployment, and sources of technical progress. Based on an October 2001 conference honoring Phelps, this incomparable volume provides the most comprehensive and authoritative account in years of the present state of macroeconomics while also pointing to its future. The fifteen chapters are by the editors and by Daron Acemoglu, Jess Benhabib, Guillermo A. Calvo, Oya Celasun, Michael D. Goldberg, Bruce Greenwald, James J. Heckman, Bart Hobijn, Peter Howitt, Hehui Jin, Charles I. Jones, Michael Kumhof, Mordecai Kurz, David Laibson, Lars Ljungqvist, N. Gregory Mankiw, Dale T. Mortensen, Maurizio Motolese, Stephen Nickell, Luca Nunziata, Wolfgang Ochel, Christopher A. Pissarides, Glenda Quintini, Ricardo Reis, Andrea Repetto, Thomas J. Sargent, Jeremy Tobacman, and Gianluca Violante. Commenting are Olivier J. Blanchard, Jean-Paul Fitoussi, Mark Gertler, Robert E. Hall, Robert E. Lucas, Jr., David H. Papell, Robert A. Pollak, Robert M. Solow, Nancy L. Stokey, and Lars E. O. Svensson. Also included are reflections by Phelps, a preface by Paul A. Samuelson, and the editors' introduction.

The American Economic Review

Author :
Publisher :
ISBN 13 :
Total Pages : 510 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The American Economic Review by :

Download or read book The American Economic Review written by and published by . This book was released on 1926 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes papers and proceedings of the annual meeting of the American Economic Association. Covers all areas of economic research.

The Wages of Expectation

Author : Charles Defanti
Publisher :
ISBN 13 : 9781566494212
Total Pages : 0 pages
Book Rating : 4.4/5 (942 download)

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Book Synopsis The Wages of Expectation by : Charles Defanti

Download or read book The Wages of Expectation written by Charles Defanti and published by . This book was released on 2025 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The flamboyant and irascible Edward Dahlberg (1900-1977) wrote twenty books including, most notably, Because I Was Flesh, his autobiographical masterpiece. Dahlberg's literary career spanned five decades and brought him into contact (and conflict) with many of the luminaries of his time, from D.H. Lawrence and Ford Madox Ford to Charles Olson and Allen Ginsberg. Charles DeFanti was a close friend of Edward Dahlberg for the last four years of Dahlberg's life, conducted hundreds of interviews for this book (which was originally published in 1978), and has written an Afterword for this edition.

Wage Expectations in Labor Supply and the Time-series and Cross-section Effects of State Unemployment

Author : Lee A. Lillard
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Wage Expectations in Labor Supply and the Time-series and Cross-section Effects of State Unemployment by : Lee A. Lillard

Download or read book Wage Expectations in Labor Supply and the Time-series and Cross-section Effects of State Unemployment written by Lee A. Lillard and published by . This book was released on 1981 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Papers and Proceedings of the Annual Meeting

Author : American Economic Association
Publisher :
ISBN 13 :
Total Pages : 608 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Papers and Proceedings of the Annual Meeting by : American Economic Association

Download or read book Papers and Proceedings of the Annual Meeting written by American Economic Association and published by . This book was released on 1926 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Keynes' Economics (Routledge Revivals)

Author : Tony Lawson
Publisher : Routledge
ISBN 13 : 113522871X
Total Pages : 224 pages
Book Rating : 4.1/5 (352 download)

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Book Synopsis Keynes' Economics (Routledge Revivals) by : Tony Lawson

Download or read book Keynes' Economics (Routledge Revivals) written by Tony Lawson and published by Routledge. This book was released on 2009-07-15 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1985, this title includes contributions from leading economists and addresses many seminal aspects of Keynes' work and methods. This revival will be of particular interest to lecturers and advanced students of economics.

Defensive Expectations

Author : Liviu Voinea
Publisher : Springer Nature
ISBN 13 : 3030550451
Total Pages : 216 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Defensive Expectations by : Liviu Voinea

Download or read book Defensive Expectations written by Liviu Voinea and published by Springer Nature. This book was released on 2020-12-09 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains why inflation remains subdued after recessions, based on three revolutionary concepts: defensive expectations, compensatory savings, and cumulative wage gap. When income falls, consumption falls, and savings rise, as people rebuild their past wealth. Households will not spend more until they fully recover what they lost. The revised Phillips Curve explains that current inflation depends on the cumulative difference between current income and past income. This new theory is tested and validated by data for US since 1960 to date and for 35 OECD countries from 1990 to date. A number of policy implications are derived from these results. The book calls for an optimal policy mix between monetary policy and fiscal policy; it also discusses the coronavirus crisis as an extreme case of defensive expectations.

Rational Expectations and Inflation

Author : Thomas J. Sargent
Publisher : Princeton University Press
ISBN 13 : 0691158703
Total Pages : 389 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Rational Expectations and Inflation by : Thomas J. Sargent

Download or read book Rational Expectations and Inflation written by Thomas J. Sargent and published by Princeton University Press. This book was released on 2013-05-05 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fully expanded edition of the Nobel Prize–winning economist's classic book This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. Here, Sargent engages with practical problems in economics in a less formal, noneconometric way, demonstrating how rational expectations can satisfactorily interpret a range of historical and contemporary events. He focuses on periods of actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation, from the French Revolution and the aftermath of World War I to the economic policies of Margaret Thatcher and Ronald Reagan, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated. This fully expanded edition of Rational Expectations and Inflation includes Sargent's 2011 Nobel lecture, "United States Then, Europe Now." It also features new articles on the macroeconomics of the French Revolution and government budget deficits.

Expectation formation in dynamic market experiments

Author : Peter Heemeijer
Publisher : Rozenberg Publishers
ISBN 13 : 9036101158
Total Pages : 308 pages
Book Rating : 4.0/5 (361 download)

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Book Synopsis Expectation formation in dynamic market experiments by : Peter Heemeijer

Download or read book Expectation formation in dynamic market experiments written by Peter Heemeijer and published by Rozenberg Publishers. This book was released on 2009 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Rational Expectations

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (661 download)

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Book Synopsis Rational Expectations by : Fouad Sabry

Download or read book Rational Expectations written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-29 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Rational Expectations Rational expectations is an economic theory that seeks to infer the macroeconomic consequences of individuals' decisions based on all available knowledge. It assumes that individuals actions are based on the best available economic theory and information, and concludes that government policies cannot succeed by assuming widespread systematic error by individuals. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Rational expectations Chapter 2: Adaptive expectations Chapter 3: Macroeconomics Chapter 4: Inflation Chapter 5: New Keynesian economics Chapter 6: Phillips curve Chapter 7: Lucas critique Chapter 8: Macroeconomic model Chapter 9: Neutrality of money Chapter 10: John B. Taylor Chapter 11: Thomas J. Sargent Chapter 12: Edmund Phelps Chapter 13: Policy-ineffectiveness proposition Chapter 14: Lucas islands model Chapter 15: Neoclassical synthesis Chapter 16: New classical macroeconomics Chapter 17: NAIRU Chapter 18: History of macroeconomic thought Chapter 19: McCallum rule Chapter 20: Lucas aggregate supply function Chapter 21: Taylor contract (economics) (II) Answering the public top questions about rational expectations. (III) Real world examples for the usage of rational expectations in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Rational Expectations.

Economics, Economists and Expectations

Author : William Darity
Publisher : Routledge
ISBN 13 : 1134886241
Total Pages : 177 pages
Book Rating : 4.1/5 (348 download)

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Book Synopsis Economics, Economists and Expectations by : William Darity

Download or read book Economics, Economists and Expectations written by William Darity and published by Routledge. This book was released on 2004-03-04 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Compensation Court Decisions

Author :
Publisher :
ISBN 13 :
Total Pages : 276 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Compensation Court Decisions by :

Download or read book Compensation Court Decisions written by and published by . This book was released on 1925 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Impact of Inflation on the Economy

Author : United States. Congress. House. Committee on the Budget. Task Force on Inflation
Publisher :
ISBN 13 :
Total Pages : 1302 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Impact of Inflation on the Economy by : United States. Congress. House. Committee on the Budget. Task Force on Inflation

Download or read book Impact of Inflation on the Economy written by United States. Congress. House. Committee on the Budget. Task Force on Inflation and published by . This book was released on 1979 with total page 1302 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Expectations

Author : Arie Arnon
Publisher : Springer Nature
ISBN 13 : 3030413578
Total Pages : 244 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Expectations by : Arie Arnon

Download or read book Expectations written by Arie Arnon and published by Springer Nature. This book was released on 2020-03-20 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a unique historical perspective on expectations in economic theory, and applications of expectations models in economic history. Based on papers presented at the 2017 Thomas Guggenheim Conference, it brings together the work of economists, historians of economics, and economic historians on issues and events concerning expectations in economics and economic history. The contributions address: (i) the history of expectations models; (ii) growth, expectations and political economy; (iii) controversies regarding expectations methods and models; (iv) expectations in theory and reality; and (v) expectations in economic history. The book opens with a lecture by Thomas Guggenheim Prize winner Duncan Foley on the evolution of expectations in modern economic thought. The remaining content is divided into two parts, the first of which focuses on the utilization of expectations in the “ancient” and “meso” periods of high theory, i.e., from Smithian to Keynesian approaches. The papers cover topics such as “modern” applications of expectations in both “Tobinesque-Phillips” and “Harrodian-Solowian” contexts, and the debate between Friedmanite and Keynesian approaches to expectation formation. In turn, the last part presents essays on the role of economic expectations in connection with historical events and contexts, ranging from the early 20th century to World War II, and on the application of expectations theory to hyperinflation and stabilization, taking Israel as a case study.

Handbook of Economic Expectations

Author : Ruediger Bachmann
Publisher : Elsevier
ISBN 13 : 0128234768
Total Pages : 876 pages
Book Rating : 4.1/5 (282 download)

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Book Synopsis Handbook of Economic Expectations by : Ruediger Bachmann

Download or read book Handbook of Economic Expectations written by Ruediger Bachmann and published by Elsevier. This book was released on 2022-11-04 with total page 876 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Economic Expectations discusses the state-of-the-art in the collection, study and use of expectations data in economics, including the modelling of expectations formation and updating, as well as open questions and directions for future research. The book spans a broad range of fields, approaches and applications using data on subjective expectations that allows us to make progress on fundamental questions around the formation and updating of expectations by economic agents and their information sets. The information included will help us study heterogeneity and potential biases in expectations and analyze impacts on behavior and decision-making under uncertainty. Combines information about the creation of economic expectations and their theories, applications and likely futures Provides a comprehensive summary of economics expectations literature Explores empirical and theoretical dimensions of expectations and their relevance to a wide array of subfields in economics