Rational Expectations and Economic Policy (National Bureau of Economic Research Conference Report)

ISBN: 0226251349

Author: Fischer, Stanley

Condition: New

Product Description "Several areas in economics today have unprecedented significance and vitality. Most people would agree that stabilization policy ranks with the highest of these. Continuing inflation and periodic serious acceleration of inflation combined with high and secularly rising unemployment combine to give the area high priority. This book brings us up to date on an extremely lively discussion involving the role of expectations, and more particularly rational expectations, in the conduct of stabilization policy. . . . Anyone interested in the role of government in economics should read this important book."-C. Glyn Williams, The Wall Street Review of Books "This is a most timely and valuable contribution. . . . The contributors and commentators are highly distinguished and the editor has usefully collated comments and the ensuing discussion. Unusually for a conference proceedings the book is well indexed and it is also replete with numerous and up-to-date references. . . . This is the first serious book to examine the rational expectations thesis in any depth, and it will prove invaluable to anyone involved with macroeconomic policy generally and with monetary economics in particular."-G. K. Shaw, The Economic Journal From the Back Cover The papers and discussions contained in this volume were presented at a conference on rational expectation s and economic policy sponsored by the national Bureau of Economic Research and held at Bald Peak Colony club, New Hampshire, in October 1978. Developments in the theory of economic policy associated with rational expectations have aroused considerable professional and public interest in the last few years, and it seemed desirable to bring together a groups of economist and policy makers to summarize and discuss these developments and, m and policy makers to summarize and discuss these developments and, and it possible, to focus on outstanding unresolved issues.