Description
The author sets out to provide a basic working knowledge of the Rational Expectations Hypothesis (REH) by demonstrating in full various methods for solving RE models. The book then deals with policies and issues frequently encountered when applying these models including: stabilization policy, fiscal policy, the political economy of democracy and the Phillips curve. Finally, the author turns to methods of testing the REH. By the end of the book, students should be in a position to apply RE models to whatever economy they are concerned with. Professor Minford has updated the text extensively and included new chapters on representatitve agent models (increasingly used in a applied forecasting and policy analysis) and modelling the open economy.
In the decade since the first edition of this classic text was written, the economics profession's respect for the REH has only increased. The author's introductory and concluding chapters place the REH research programme in its historical context, assess the current state of the debate and look ahead to future research in this important subject.
About the Author
Patrick Minford is Edward Gonner Professor of Applied Economics at the University of Liverpool and one of the UK's leading exponents of Rational Expectations Macroeconomics. He is author of Unemployment Cause and Cure (Blackwell Publishers, 1986).
Book Information
ISBN 9780631177883
Author Patrick Minford
Format Paperback
Page Count 260
Imprint Wiley-Blackwell
Publisher John Wiley and Sons Ltd
Weight(grams) 397g
Dimensions(mm) 223mm * 155mm * 20mm
