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Economists have developed models in which individuals form expectations of key variables in a 'rational' manner such that these expectations are consistent with actual economic environments. Professor Sheffrin first explores the logical foundation of the concept and the case for employing it in economic analysis. Subsequent chapters investigate its use in macroeconomics, financial markets, and microeconomics. A final chapter assesses its impact on theoretical and empirical work in economics and policy arenas. The author argues that while rational expectations are still central to macroeconomic policy debates, fully workable models have not yet been devised, and offers reasons for the lack of practical and conceptual progress. All chapters of the second edition have been revised or expanded. New sections inter alia include material on learning, the rationality of reported expectations, alternative recent developments explicitly or implicitly using rational expectations, new tests of the Lucas critique, and models of noise trading. The book is written in a non-technical fashion for beginning graduate students and non-specialists.

Macroeconomics --- Rational expectations (Economic theory) --- Macroeconomics. --- Microeconomics. --- Anticipations rationnelles (Théorie économique) --- Macroéconomie --- Micro-économie --- AA / International- internationaal --- 331.062 --- Microeconomics --- 339 --- Price theory --- Economics --- Expectations, Rational (Economic theory) --- Economic forecasting --- Time and economic reactions --- Uncertainty --- Anticyclisch beleid. Rational expectations. --- Anticipations rationnelles (Théorie économique) --- Macroéconomie --- Micro-économie --- Anticyclisch beleid. Rational expectations --- Business, Economy and Management

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Business cycles --- Capitalism --- -Economic history --- -AA / International- internationaal --- 331.062 --- 331.31 --- Economic conditions --- History, Economic --- Economics --- Market economy --- Profit --- Capital --- Political aspects --- Anticyclisch beleid. Rational expectations. --- Economisch beleid. --- Economic history --- Economic policy --- Economic stabilization --- Congresses. --- Congresses --- AA / International- internationaal --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Anticyclisch beleid. Rational expectations --- Economisch beleid --- Conjunctuur

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658.26 --- 351.824.11 --- energie --- previsions --- congres --- AA / International- internationaal --- 331.062 --- 338.012 --- 351.2 --- 658.26 Energy sources. Power supply. Provision of heat and water --- Energy sources. Power supply. Provision of heat and water --- vooruitzichten --- congressen --- Anticyclisch beleid. Rational expectations. --- Energie (productiefactor). --- Openbare gezondheid. Milieubescherming. Milieuvervuiling. --- Anticyclisch beleid. Rational expectations --- Energie (productiefactor) --- Openbare gezondheid. Milieubescherming. Milieuvervuiling

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Money. Monetary policy --- Inflation (Finance) --- Rational expectations (Economic theory) --- Inflation --- Anticipations rationnelles (Théorie économique) --- 336.748.12 --- AA / International- internationaal --- 331.062 --- 333.841 --- 380.27 --- Expectations, Rational (Economic theory) --- Economic forecasting --- Time and economic reactions --- Uncertainty --- Finance --- Natural rate of unemployment --- Algemeen prijsniveau. Prijsindex. Prijsstijging --- Anticyclisch beleid. Rational expectations. --- Inflatie. --- Prijzenontwikkeling. --- 336.748.12 Algemeen prijsniveau. Prijsindex. Prijsstijging --- Inflation (Finance). --- Rational expectations (Economic theory). --- Anticipations rationnelles (Théorie économique) --- Anticyclisch beleid. Rational expectations --- Inflatie --- Prijzenontwikkeling --- Economische voorspelling --- Prévision économique

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DE / Germany - Duitsland - Allemagne --- 331.062 --- 338.8 --- 336.61 --- 332.27 --- 339.21 --- 333.846.0 --- Anticyclisch beleid. Rational expectations. --- Economische groei. --- Financieel beleid. --- Loonpolitiek. --- Ongelijkheid en herverdeling van vermogens en inkomens. Inkomensbeleid. --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden. --- Economic development. --- Income. --- Anticyclisch beleid. Rational expectations --- Economische groei --- Financieel beleid --- Loonpolitiek --- Ongelijkheid en herverdeling van vermogens en inkomens. Inkomensbeleid --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden