Advertisement

Rational Expectations Models

  • Giorgio Pauletto
Part of the Advances in Computational Economics book series (AICE, volume 7)

Abstract

Nowadays, many large-scale macroeconometric models explicitly include forward expectation variables that allow for a better accordance with the underlying economic theory and also provide a response to the Lucas critique. These ongoing efforts gave rise to numerous models currently in use in various countries. Among others, we may mention MULTIMOD (Masson et al. [79]) used by the International Monetary Fund and MX-3 (Gagnon [41]) used by the Federal Reserve Board in Washington; model QPM (Armstrong et al. [5]) from the Bank of Canada; model Quest (Brandsma [18]) constructed and maintained by the European Commission; models MSG and NIGEM analyzed by the Macro Modelling Bureau at the University of Warwick.

Keywords

Rational Expectation Newton Step Task Parallelism Country Model Rational Expectation Model 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Springer Science+Business Media Dordrecht 1997

Authors and Affiliations

  • Giorgio Pauletto
    • 1
  1. 1.University of GenevaSwitzerland

Personalised recommendations