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Are Policy Variables Exogenous?
Balazs Horvath
€ 67.81
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Description for Are Policy Variables Exogenous?
Paperback. Demonstrates that Bayesian learning by rational policymakers affects the exogeneity status of policy variables in econometric models by creating an intertemporal informational feedback. This book is suitable for empirical, as well as theoretical econometricians. Series: Lecture Notes in Economics and Mathematical Systems. Num Pages: 174 pages, 4 black & white tables, biography. BIC Classification: KCB; KCH. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 242 x 170 x 9. Weight in Grams: 580.
1. 1 Motivation and Definition of Topic To provide motivation and to help define the topic of this study, important links between specific areas of economic theory are first highlighted. (i) Learning and Rational Expectations Theory In a standard rational expectations setting, agents in equilibrium have all the information about the model that enables them to correctly forecast future payoff-relevant variables. What rational expectations theory in its standard form does not tell us is what happens outside a rational expectations equilibrium. Less than complete knowledge of the model is a possible way to represent a situation outside the rational expectations ... Read more
1. 1 Motivation and Definition of Topic To provide motivation and to help define the topic of this study, important links between specific areas of economic theory are first highlighted. (i) Learning and Rational Expectations Theory In a standard rational expectations setting, agents in equilibrium have all the information about the model that enables them to correctly forecast future payoff-relevant variables. What rational expectations theory in its standard form does not tell us is what happens outside a rational expectations equilibrium. Less than complete knowledge of the model is a possible way to represent a situation outside the rational expectations ... Read more
Product Details
Format
Paperback
Publication date
1991
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
174
Condition
New
Series
Lecture Notes in Economics and Mathematical Systems
Number of Pages
162
Place of Publication
Berlin, Germany
ISBN
9783540542872
SKU
V9783540542872
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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