Rethinking Expectations : : The Way Forward for Macroeconomics /

Rethinking Expectations : : The Way Forward for Macroeconomics / / ed. by Edmund S. Phelps, Roman Frydman.

This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic anal...

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Bibliographic Details
Superior document:Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013
MitwirkendeR:
Aghion, Philippe,
Dow, Sheila,
Evans, George W.,
Farmer, Roger E. A.,
Frydman, Roman,
Goldberg, Michael D.,
Guesnerie, Roger,
Honkapohja, Seppo,
Juselius, Katarina,
Kharroubi, Enisse,
LeBaron, Blake,
Phelps, Edmund S.,
Taylor, John B.,
Woodford, Michael,
Zoega, Gylfi,
HerausgeberIn:
Frydman, Roman,
Phelps, Edmund S.,
Place / Publishing House:Princeton, NJ : : Princeton University Press, , [2013]
©2013
Year of Publication:2013
Edition:Course Book
Language:English
Online Access:
Physical Description:1 online resource (440 p.) :; 48 line illus. 18 tables.
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Table of Contents:
  • Frontmatter
  • Contents
  • Which Way Forward for Macroeconomics and Policy Analysis?
  • Part one. Back to the Foundations
  • 1. Expectational Coordination Failures and Market Volatility
  • 2. Learning as a Rational Foundation for Macroeconomics and Finance
  • 3. Keynes on Knowledge, Expectations, and Rationality
  • 4. The Imperfect Knowledge Imperative in Modern Macroeconomics and Finance Theory
  • Part two. Autonomous Expectations in Long Swings in Asset Prices
  • 5. Heterogeneous Gain Learning and Long Swings in Asset Prices
  • 6. Opening Models of Asset Prices and Risk to Nonroutine Change
  • Part three. Rethinking Unemployment-Inflation Trade-offs and the Natural Rate Theory
  • 7. Animal Spirits, Persistent Unemployment, and the Belief Function
  • 8. Indeterminacies in Wage and Asset Price Expectations
  • 9. The Long Swings of Employment, Investment, and Asset Prices
  • 10. Imperfect Knowledge, Asset Price Swings, and Structural Slumps
  • 11. Stabilization Policies and Economic Growth
  • Part four. Policymaking after "Rational Expectations"
  • 12. Swings and the Rules-Discretion Balance
  • 13. Principled Policymaking in an Uncertain World
  • Contributors
  • Index

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