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Author : George W. Evans
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.E/5 ( download)
Download or read book Adaptive Forecasts, Hysteresis and Fluctuations written by George W. Evans and published by . This book was released on 1993 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Woodford
Publisher : Elsevier
ISBN 13 : 9780444501561
Total Pages : 822 pages
Book Rating : 4.5/5 (15 download)
Download or read book Handbook of Macroeconomics written by Michael Woodford and published by Elsevier. This book was released on 1999 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George W. Evans
Publisher : Princeton University Press
ISBN 13 : 1400824265
Total Pages : 440 pages
Book Rating : 4.4/5 (8 download)
Download or read book Learning and Expectations in Macroeconomics written by George W. Evans and published by Princeton University Press. This book was released on 2012-01-06 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: A crucial challenge for economists is figuring out how people interpret the world and form expectations that will likely influence their economic activity. Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expectations. Here George Evans and Seppo Honkapohja bring new explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational expectations paradigm offers the prevailing method to determining expectations, it assumes very theoretical knowledge on the part of economic actors. Evans and Honkapohja contribute to a growing body of research positing that households and firms learn by making forecasts using observed data, updating their forecast rules over time in response to errors. This book is the first systematic development of the new statistical learning approach. Depending on the particular economic structure, the economy may converge to a standard rational-expectations or a "rational bubble" solution, or exhibit persistent learning dynamics. The learning approach also provides tools to assess the importance of new models with expectational indeterminacy, in which expectations are an independent cause of macroeconomic fluctuations. Moreover, learning dynamics provide a theory for the evolution of expectations and selection between alternative equilibria, with implications for business cycles, asset price volatility, and policy. This book provides an authoritative treatment of this emerging field, developing the analytical techniques in detail and using them to synthesize and extend existing research.
Author : A. Leijonhufvud
Publisher : Springer
ISBN 13 : 1403939616
Total Pages : 285 pages
Book Rating : 4.4/5 (39 download)
Download or read book Monetary Theory as a Basis for Monetary Policy written by A. Leijonhufvud and published by Springer. This book was released on 2016-03-11 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the inflationary 1970s, theoretical work on monetary policy has concentrated almost exclusively on price-level stabilization and the avoidance of nominal shocks. In the aftermath of the collapse of financial bubbles in various parts of the world, the accomplishments and limitations of this dominant approach are debated in this volume edited by Axel Leijonhufvud, with contributions by a number of noted monetary economists, including Nobel Laureate Robert Lucas.
Author : J. Drèze
Publisher : Springer
ISBN 13 : 033399275X
Total Pages : 377 pages
Book Rating : 4.3/5 (339 download)
Download or read book Advances in Macroeconomic Theory written by J. Drèze and published by Springer. This book was released on 2001-08-02 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading world scholars analyze a range of specific departures from general equilibrium theory which have significant implications for the macroeconomic analysis of both developed and developing economies. Jacques Drèze considers uncertainty and incomplete markets and Nobel Laureate Robert Solow relates growth theory to the macroeconomic framework. Other issues examined are the implications for macro-policy of new research, including Joseph Stiglitz's warning on the misplaced zeal for financial market liberalization which partly engendered the East Asian and Russian crises.
Author : Thomas J. Sargent
Publisher : Princeton University Press
ISBN 13 : 0691186685
Total Pages : 165 pages
Book Rating : 4.6/5 (911 download)
Download or read book The Conquest of American Inflation written by Thomas J. Sargent and published by Princeton University Press. This book was released on 2018-06-05 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past fifteen years, inflation has been conquered by many advanced countries. History reveals, however, that it has been conquered before and returned. In The Conquest of American Inflation, Thomas J. Sargent presents a groundbreaking analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural-rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Sargent begins with an explanation of how American policymakers increased inflation in the early 1960s by following erroneous assumptions about the exploitability of the Phillips curve--the inverse relationship between inflation and unemployment. In subsequent chapters, he connects a sequence of ideas--self-confirming equilibria, least-squares and other adaptive or recursive learning algorithms, convergence of least-squares learners with self-confirming equilibria, and recurrent dynamics along escape routes from self-confirming equilibria. Sargent synthesizes results from macroeconomics, game theory, control theory, and other fields to extend both adaptive expectations and rational expectations theory, and he compellingly describes postwar inflation in terms of drifting coefficients. He interprets his results in favor of adaptive expectations as the relevant mechanism affecting inflation policy. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.
Author : H. Peyton Young
Publisher : Oxford University Press
ISBN 13 : 0198892993
Total Pages : 401 pages
Book Rating : 4.1/5 (988 download)
Download or read book Spontaneous Order written by H. Peyton Young and published by Oxford University Press. This book was released on 2024-10-10 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spontaneous Order brings together Peyton Young's research on evolutionary game theory and its diverse applications across a wide range of academic disciplines, including economics, sociology, philosophy, biology, computer science, and engineering. Enhanced with an introductory essay and commentaries, the book pulls together the author's work thematically to provide a valuable resource for scholars of economic theory. Young argues that equilibrium behaviors often coalesce from the interactions and experiences of many dispersed individuals acting with fragmentary knowledge of the world, rather than (as is often assumed in economics) from the actions of fully rational agents with commonly held beliefs. The author presents a unified and rigorous account of how such 'bottom-up' evolutionary processes work, using recent advances in stochastic dynamical systems theory. This analytical framework illuminates how social norms and institutions evolve, how social and technical innovations spread in society, and how these processes depend on adaptive learning behavior by human subjects.
Author : Christopher Allen
Publisher :
ISBN 13 :
Total Pages : 362 pages
Book Rating : 4.3/5 (91 download)
Download or read book Macroeconomic Modelling in a Changing World written by Christopher Allen and published by . This book was released on 1997-02-12 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic Modelling in a Changing World Towards a Common Approach Edited by Chris Allen and Stephen Hall Practical economic model building has changed enormously over the last twenty years. Econometrics has become much more sophisticated with the introduction of cointegration and non-stationary time series analysis. The use of economic theory in the form of complex non-linear cross equation restrictions is now much more widespread and the explicit modelling of expectations and credibility effects is more satisfactory. This has meant that the old style macroeconomic models which were complex by virtue of their size alone have been replaced by a generation of new models which embody complex theory and estimation to provide more superior forecasting and policy tools. Macroeconomic Modelling in a Changing World outlines the modelling approach which has been adopted at the Centre for Economic Forecasting at the London Business School, one of the world’s leading research institutes into macroeconomic modelling, in building its own models. Using explicit examples and illustrations, the authors examine the latest state-of-the-art models, and answer questions such as: How are modern econometrics used by model builders? How should we deal with structural change? How should expectations be modelled? How are models used in practice? Economics
Author : Keith Whitfield
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.E/5 ( download)
Download or read book Does the Regulatory System Matter? written by Keith Whitfield and published by . This book was released on 1993 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jang-Ting Guo
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book Fiscal Policy, Increasing Returns, and Endogenous Fluctuations written by Jang-Ting Guo and published by . This book was released on 1999 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chan G. Huh
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book Forecasting Industrial Production Using Models with Business Cycle Asymmetry written by Chan G. Huh and published by . This book was released on 1993 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Riccardo Peccei
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.E/5 ( download)
Download or read book The Dimensionality and Stability of Organizational Commitment written by Riccardo Peccei and published by . This book was released on 1993 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth Allan Kasa
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (318 download)
Download or read book Learning, Large Deviations, and Recurrent Currency Crises written by Kenneth Allan Kasa and published by . This book was released on 2000 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 1158 pages
Book Rating : 4.:/5 (49 download)
Download or read book Journal of Economic Dynamics & Control written by and published by . This book was released on 2003 with total page 1158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 468 pages
Book Rating : 4.E/5 ( download)
Download or read book Economic Review written by and published by . This book was released on 1993 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (31 download)
Download or read book The Fed in Print written by and published by . This book was released on 1993 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefan Schulte
Publisher : Springer Nature
ISBN 13 : 3031718747
Total Pages : 285 pages
Book Rating : 4.0/5 (317 download)
Download or read book From Multimedia Communications to the Future Internet written by Stefan Schulte and published by Springer Nature. This book was released on with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt:
