Rational Expectations: An Elementary Exposition

by G.K. Shaw

Book Overview

This book is the first elementary introduction to the theory of rational explanations, the foundation of the so-called 'new classical macroeconomics'. Demanding only a limited background in... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0312664028
• ISBN13: 9780312664022
• Release Date: January 1984
• Publisher: St. Martin's Press
• Length: 131 Pages
• Weight: 1.35 lbs.
• Dimensions: 0.7" x 5.7" x 8.8"

Customer Reviews

minimal use of maths

Shaw furnishes a description of rational expectations whose strength is the descriptive aspect. He goes over at length and lucidly the underpinnings of this field. There are certainly equations and graphs to be digested. But it's not overweight on these. The maths is used for a qualitative understanding and is kept to a modicum. Even so, he manages to introduce the main ideas of Keynesian economics, and such seminal concepts as the Phillips Curve. And despite what you might first think for the title, Shaw also finds space [an entire chapter] to ruminate about non-rational expectations.