Exemplos de uso de Rational expectations em Inglês e suas traduções para o Português
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Under rational expectations, agents are assumed to be more sophisticated.
Lucas is well known for his investigations into the implications of the assumption of the rational expectations theory.
Lucas(1972) incorporates the idea of rational expectations into a dynamic general equilibrium model.
Market value and market price are equal only under conditions of market efficiency,equilibrium, and rational expectations.
The Theory of Rational Expectations and Price Movement RE developed by John F. Muth 1961 is the basis of the present work.
A central development in new classical thought came when Robert Lucas introduced rational expectations to macroeconomics.
A small estimated euro area model with rational expectations and nominal rigidities» by G. Coenen and V. Wieland, September 2000.
The model was an important contribution to the New Classical Macroeconomics,built around the assumption of rational expectations.
However, the rational expectations assumption is controversial since it may exaggerate agents' understanding of the economy.
These include the neoclassical assumptions of rational choice theory, a representative agent,and, often, rational expectations.
Review of Rational Expectations and Economic Policy, edited by Stanley Fischer, in the Journal of Economic Literature, vol. 20, March 1982.
In 1978, Hall changed the direction of research on consumption by showing that under rational expectations, consumption should be a martingale.
When new classical economists introduced rational expectations into their models, they showed that monetary policy could only have a limited impact.
The evolution of the theoretical debate on how expectations are formed led to the so-called Rational Expectations Hypothesis.
The rigidities of new Keynesian theory were combined with rational expectations and the RBC methodology to produce dynamic stochastic general equilibrium(DSGE) models.
Stanley Fischer and John B. Taylor produced early work in this area by showing that monetary policy could be effective even in models with rational expectations when contracts locked-in wages for workers.
The nominal rigidity of new Keynesian theory was combined with rational expectations and the RBC methodology to produce dynamic stochastic general equilibrium(DSGE) models.
Her results show that the unstable case did not result in the divergent behavior we seewith cobweb expectations but rather the participants converged toward the rational expectations equilibrium.
The problems of heterogeneous capital goods have also been ignored in the'rational expectations revolution' and in virtually all econometric work.
In the first chapter, we present and discuss the advantages and limitations of estimating dynamic stochastic general equilibrium(dsge) models added with learning,thus suppressing the central assumption of rational expectations.
For having developed andapplied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy.
One way of interpreting these results is to say that in the long run,the participants behaved as if they had rational expectations, but that in the short run they made mistakes.
The objective of this investigation is the analysis of the rational expectations model at the enterprise level with constant and time-varying returns under the presence of multiple structural breaks and cross-sectional dependence.
This conclusion is based on, p. 205 that not all accounting manipulation is eliminated andthat only in capital markets with rational expectations will managers fail to benefit from manipulation.
I should like to refer to the concept of rational expectations and rational behaviour and to say that, obviously, any conclusions within the framework of the negotiations being carried out inside the European Union will not be adopted if there is any prospect that they cannot be safeguarded or they cannot be compatible with what is decided at world level.
First, we introduce the reader on how learning can be inserted in those models,starting from the discussion of where and how the rational expectations operator is substituted by the learning mechanism.
New Keynesian economists responded to the new classical school by adopting rational expectations and focusing on developing micro-founded models that are immune to the Lucas critique.
However, Rosen et al.(1994) proposed an alternative model which showed that because of the three-year life cycle of beef cattle, cattle populations would fluctuate over time even ifranchers had perfectly rational expectations.
Thus, the results are consistent with Bierens and Martins' 2010 study andinconsistent with Muth's 1961 theory of rational expectations, with important implications regarding periods of greater and lesser inequality.
The backward nature of expectation formulation and the resultant systematic errors made by agents(see Cobweb model) was unsatisfactory to economists such as John Muth, who was pivotal in the development of an alternative model of how expectations are formed,called rational expectations.