{"product_id":"9780792319030","title":"Rational Expectations in Macroeconomic Models","description":"\u003ch1\u003eRational Expectations in Macroeconomic Models\u003c\/h1\u003e \u003ch2\u003eFisher, P.\u003c\/h2\u003e \u003cp\u003eIt 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 model -- and  more! \u003cbr\u003e  \u003cem\u003eRational Expectations in Macroeconomic Models\u003c\/em\u003e deals with the  numerical methods necessary to carry out policy analysis and  forecasting with these models. These methods are often passed on by  word of mouth or confined to obscure journals. \u003cbr\u003e  \u003cem\u003eRational Expectations in Macroeconomic Models\u003c\/em\u003e brings them  together with applications which are interesting in their own right.  There is no comparable textbook in the literature. \u003cbr\u003e  The specific subjects include: (i) solving for model consistent  expectations; (ii) the choice of terminal condition and time horizon;  (iii) experimental design: i.e., the effect of temporary vs permanent,  anticipated vs. unanticipated shocks; deterministic vs. stochastic,  dynamic vs. static simulation; (iv) the role of exchange rate; (v)  optimal control and inflation-output tradeoffs. The models used are  those of the Liverpool Research Group in Macroeconomics, the London  Business School and the National Institute of Economic and Social  Research. \u003cbr\u003e\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 1992-08-31\u003c\/p\u003e \u003cp\u003eFormat: Hardcover\u003c\/p\u003e \u003cp\u003eISBN-13: 9780792319030\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-94-015-8002-1\u003c\/p\u003e \u003cp\u003eDimensions: 234.0cm x156.0cm\u003c\/p\u003e \u003cp\u003ePages: 211.0\u003c\/p\u003e ","brand":"Springer Netherlands","offers":[{"title":"Default Title","offer_id":45578288070796,"sku":"9780792319030","price":152.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9780792319030.jpg?v=1767141444","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9780792319030","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}