Lecture The economics of Money, Banking and Financial markets: Chapter 28 - Frederic S. Mishkin, Apostolos Serletis
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Lecture The economics of Money, Banking and Financial markets: Chapter 28 Rational expectations: Implications for policy. This chapter examines the analysis behind the rational expectations revolution. We start first with the Lucas critique, which indicates that because expectations are important in economic behaviour, it may be quite difficult to predict what the outcome of a discretionary policy will be.
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