英語 での Rational expectations の使用例とその 日本語 への翻訳
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Rational expectations and credibility of economic policies.
In other words, these stated expectations are not rational expectations.
I contend that rational expectations theory totally misinterprets how financial markets operate.
New Keynesian macroeconomic analysis usually assumes that households andfirms have rational expectations.
For one thing, those were the days of the rational expectations revolution in macroeconomics.
Assuming rational expectations define single expectations and facilitate policy analysis.
The new classicals combined aunique market-clearing equilibrium(at full employment) with rational expectations.
Monetary policy implications of the rational expectations literature were further clarified by later research.
The market is supposed to select for traders orinvestors who display rational expectations," said Coates.
John Muth first proposed rational expectations when he criticized the cobweb model(example above) of agricultural prices.
Like the New Classical approach, New Keynesian macroeconomic analysis usually assumes that households andfirms have rational expectations.
We assume that in asset markets, participants form rational expectations for long-term interest rates and foreign exchange rates.
There is a theory which even suggests that discretionary economic policy wouldnothave any effect if people always had rational expectations about the future.
In this paper, we build a forward-looking model by incorporating rational expectations into a backward-looking model and then investigate the properties of the forward-looking model.
It is associated with neoclassical price theory and libertarianism and the rejection of Keynesianism in favor of monetarism until the 1980s,when it turned to rational expectations.
Lucas(1973)[18] proposed a business cycle theory based on rational expectations, imperfect information, and market clearing.
New classicals also introduced rational expectations and argued that governments had little ability to stabilize the economy given the rational expectations of economic agents.
So you could do exchange rate models that actually had realistic assumptions about prices and employment,but put the focus on rational expectations in the currency market, so that people really didn't notice.
Coates's key thesis is that“contrary to the assumptions of the rational expectations hypothesis, financial market equilibria may be influenced as much by traders' biological traits as by the truth of their beliefs.”.
Goodfriend and King proposed a list of four elements that are central to the new synthesis:[6][ page needed]intertemporal optimization, rational expectations, imperfect competition, and costly price adjustment(menu costs).
Thomas Sargent and Neil Wallace(1975)[14] applied rational expectations to models with Phillips curve trade-offs between inflation and output and found that monetary policy could not be used to systematically stabilize the economy.
Goodfriend and King proposed a list of four elements that are central to the new synthesis:[6][ page needed]intertemporal optimization, rational expectations, imperfect competition, and costly price adjustment(menu costs).
Robert Hall, building on the work of Ramsey, showed in the 1970s that rational expectations implies the famous Euler equation that bedevils graduate students, which shows that suitably discounted changes in marginal utilities should follow a random walk.
It also covers the principles and variables of macroeconomics: models of aggregate supply and demand, theories of consumption and investment, money supply and demand,inflation, rational expectations, stabilization policy, financial markets, and international finance.
The expectation-learning hypothesisalso does not contradict with the concept of rational expectations in that people use currently available information to the best of their ability to predict the future.