Four Essays On Expectation Formation In Monetary Economics And Macroeconomics
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Four Essays On Expectation Formation In Monetary Economics And Macroeconomics
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Author : Thomas Beat Markus Lustenberger
language : en
Publisher:
Release Date : 2018
Four Essays On Expectation Formation In Monetary Economics And Macroeconomics written by Thomas Beat Markus Lustenberger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Expectations
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Author : Arie Arnon
language : en
Publisher: Springer Nature
Release Date : 2020-03-20
Expectations written by Arie Arnon and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-20 with Business & Economics categories.
This book provides a unique historical perspective on expectations in economic theory, and applications of expectations models in economic history. Based on papers presented at the 2017 Thomas Guggenheim Conference, it brings together the work of economists, historians of economics, and economic historians on issues and events concerning expectations in economics and economic history. The contributions address: (i) the history of expectations models; (ii) growth, expectations and political economy; (iii) controversies regarding expectations methods and models; (iv) expectations in theory and reality; and (v) expectations in economic history. The book opens with a lecture by Thomas Guggenheim Prize winner Duncan Foley on the evolution of expectations in modern economic thought. The remaining content is divided into two parts, the first of which focuses on the utilization of expectations in the “ancient” and “meso” periods of high theory, i.e., from Smithian to Keynesian approaches. The papers cover topics such as “modern” applications of expectations in both “Tobinesque-Phillips” and “Harrodian-Solowian” contexts, and the debate between Friedmanite and Keynesian approaches to expectation formation. In turn, the last part presents essays on the role of economic expectations in connection with historical events and contexts, ranging from the early 20th century to World War II, and on the application of expectations theory to hyperinflation and stabilization, taking Israel as a case study.
Essays On Expectations
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Author :
language : en
Publisher:
Release Date : 2020
Essays On Expectations written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The first chapter investigates the relationship between economic media sentiment and individuals' expectations and perceptions about economic conditions. We test if economic media sentiment Granger-causes individuals' expectations and opinions concerning economic conditions, controlling for macroeconomic variables. We develop a measure of economic media sentiment using a supervised machine learning method on a data set of Swedish economic media during the period 1993-2017. We classify the sentiment of 179,846 media items, stemming from 1,071 unique media outlets, and use the number of news items with positive and negative sentiment to construct a time series index of economic media sentiment. Our results show that this index Granger-causes individuals' perception of macroeconomic conditions. This indicates that the way the economic media selects and frames macroeconomic news matters for individuals' aggregate perception of macroeconomic reality. The second chapter investigates if individuals experiencing different socio-economic environments during their formative years have different expectations about future economic conditions. We analyse differences in expectations across five generations of consumers by testing if they have different levels of confidence. The chapter focuses on all the different generations of the 1900s as defined by Howe and Strauss (1997, 2000). In our econometric model, we use the Millennial Generation as a baseline, as this generation is about to make up the largest fraction of consumers in the economy. Contrary to the theory developed by the literature on generations, such as Howe and Strauss, our results show that confidence increases gradually across generations. We find that the Millennials are more confident than generations born in the first half of the 1900s, but similar in confidence to other generations born in the second half of the 1900s. The third chapter test whether there is an interaction effect between expectations and policy shocks, that is, whether the effect of monetary policy depends on household's expectations of the future state of the nationwide economy and their own personal economy. We find that a positive monetary policy shock increases household savings, but the effect is weak when households are more optimistic about their own future household finances and stronger when households are more pessimistic. Households' expectations of the Swedish economy have no impact on their savings decisions or their response to monetary policy shocks.
Essays On Expectation Formation
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Author : Katharine Lauderdale
language : en
Publisher:
Release Date : 2017
Essays On Expectation Formation written by Katharine Lauderdale and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Economic forecasting categories.
Essays In The Fundamental Theory Of Monetary Economics And Macroeconomics
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Author : John Smithin
language : en
Publisher: World Scientific Publishing Company
Release Date : 2013-06-27
Essays In The Fundamental Theory Of Monetary Economics And Macroeconomics written by John Smithin and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-27 with Business & Economics categories.
This book provides a comprehensive overview, in the form of eight long essays, of the evolution of monetary theory over the three-quarters of century, from the time of Keynes to the present day. The essays are originally based on lecture notes from a graduate course on Advanced Monetary Economics offered at York University, Toronto, written in the style of academic papers. The essays are mathematical in method — but also take a historical perspective, tracing the evolution of monetary thought through the Keynesian model, the monetarist model, new classical model, etc, up to and including the neo-Wickesellian models of the early 21st century. The book will be an essential resource for both graduate and advanced undergraduate students in economics, as well as for individual researchers seeking basic information on the theoretical background of contemporary debates.
Consumer Expectations
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Author : Richard Thomas Curtin
language : en
Publisher: Cambridge University Press
Release Date : 2019-02-07
Consumer Expectations written by Richard Thomas Curtin and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-07 with Business & Economics categories.
Proposes a new comprehensive theory about how expectations are formed and how they shape the macro economy.
Critical Essays In Monetary Theory
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Author : John Hicks
language : en
Publisher: Oxford University Press, USA
Release Date : 1967
Critical Essays In Monetary Theory written by John Hicks and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1967 with Business & Economics categories.
Critical Essays in Monetary Theory
Post Keynesian Essays From Down Under Volume Iv Essays On Theory
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Author : G. Harcourt
language : en
Publisher: Springer
Release Date : 2019-03-15
Post Keynesian Essays From Down Under Volume Iv Essays On Theory written by G. Harcourt and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-15 with Business & Economics categories.
Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume IV explores theory.
Handbook Of Macroeconomics
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Author : Michael Woodford
language : en
Publisher: Elsevier
Release Date : 1999
Handbook Of Macroeconomics written by Michael Woodford and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Money And Macroeconomics
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Author : David E. W. Laidler
language : en
Publisher: Edward Elgar Publishing
Release Date : 1997-01-01
Money And Macroeconomics written by David E. W. Laidler and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-01-01 with Business & Economics categories.
Money and Macroeconomics is a significant collection of David Laidler's most important papers on the so-called 'monetarist counter-revolution'. This volume contains both published and unpublished examples of his influential contribution, detailing empirical work on the demand for money, the economics of inflation, the foundations of the 'buffer stock' approach to monetary theory, the monetarist critique of new classical economics and issues of economic policy.