Hansen, Lars Peter

Rational Expectations Econometrics

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ISBN 13:: 9780367300470
author:: Hansen, Lars Peter
format:: Paperback
publisher:: CRC Press
language:: English
Publication Year:: 2024
Pages:: 304
Dimensions:: 24.1 x 15.2 centimetres (0.56 kg
Genre:: Science, Mathematics, General,
Condition:: New
Availability:: Item usually sent within 10 working days

£39.96

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Description

Description

Rational Expectations Econometrics by Lars Peter Hansen and Thomas Sargent provides insight into the core of the rational expectations revolution. At its heart is the understanding that economic policy interacts with economic agents' knowledge and expectations, creating complex feedback relationships that pose significant challenges in econometric modelling. This volume brings together work from two leading figures in the field, addressing the practical problems of modelling the effects of rational expectations on dynamic economic models. Each paper focuses on making inferences about model parameters based on time series observations, exploiting restrictions imposed by the hypothesis of agents having rational expectations. By exploring these challenges, Rational Expectations Econometrics offers a comprehensive understanding of the nuts and bolts of working with rational expectations in formal economic modelling.

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