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Economics, Economists and Expectations

From Microfoundations to Macroapplications

Economics, Economists and Expectations by William Darity
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The concept of rational expectations has played a hugely important role in economics over the years. Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the 'founding fathers' of the models themselves are also presented here for the first time. The authors trace the development of different approaches to expectations from the likes of Hayek, Morgenstern, and Coase right up to more modern theorists such as Friedman, Patinkin, Phelps and Lucas.

The startling conclusion that there was no 'Rational Expectations Revolution' is articulated, supported and defended with impressive clarity and authority. A necessity for economists across the world, this book will deserve its place upon many an academic bookshelf.

Taylor and Francis; July 2004
177 pages; ISBN 9781134886234
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Title: Economics, Economists and Expectations
Author: William Darity; Robert Leeson; Warren Young
 
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ISBNs
0203357930
9780203357934
9780415085151
9781134886234
9781134886241