Coverart for item
The Resource Rethinking expectations : the way forward for macroeconomics, edited by Roman Frydman and Edmund S. Phelps

Rethinking expectations : the way forward for macroeconomics, edited by Roman Frydman and Edmund S. Phelps

Label
Rethinking expectations : the way forward for macroeconomics
Title
Rethinking expectations
Title remainder
the way forward for macroeconomics
Statement of responsibility
edited by Roman Frydman and Edmund S. Phelps
Contributor
Subject
Language
eng
Summary
"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 analysis. However, in their provocative introductory essay, Roman Frydman and Edmund Phelps argue that the vast majority of macroeconomic and finance models developed over the last four decades derailed, rather than built on, the Phelps volume's "microfoundations" approach. Whereas the contributors to the 1970 volume recognized the fundamental importance of according market participants' expectations an autonomous role, contemporary models rely on the rational expectations hypothesis (REH), which rules out such a role by design. The financial crisis that began in 2007, preceded by a spectacular boom and bust in asset prices that REH models implied could never happen, has spurred a quest for fresh approaches to macroeconomic analysis. While the alternatives to REH presented in Rethinking Expectations differ from the approach taken in the original Phelps volume, they are notable for returning to its major theme: understanding aggregate outcomes requires according expectations an autonomous role."--Publisher's website
Cataloging source
N$T
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Rethinking expectations : the way forward for macroeconomics, edited by Roman Frydman and Edmund S. Phelps
Label
Rethinking expectations : the way forward for macroeconomics, edited by Roman Frydman and Edmund S. Phelps
Link
http://www.jstor.org/stable/10.2307/j.ctt1r2dpg
Publication
Related Contributor
Related Location
Related Agents
Related Authorities
Related Subjects
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
pt. 1. Back to the foundations -- pt. 2. Autonomous expectations in long swings in asset prices -- pt. 3. Rethinking unemployment-inflation trade-offs and the natural rate theory -- pt. 4. Policymaking after "rational expectations."
http://library.link/vocab/cover_art
https://contentcafe2.btol.com/ContentCafe/Jacket.aspx?Return=1&Type=S&Value=9781400846450&userID=ebsco-test&password=ebsco-test
Dimensions
unknown
http://library.link/vocab/discovery_link
{'f': 'http://opac.lib.rpi.edu/record=b4338825'}
Extent
1 online resource (vi, 432 pages)
File format
unknown
Form of item
online
Isbn
9781400846450
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote

Library Locations

    • Folsom LibraryBorrow it
      110 8th St, Troy, NY, 12180, US
      42.729766 -73.682577
Processing Feedback ...