Rational expectations and inflation

書誌事項

Rational expectations and inflation

Thomas J. Sargent

(The HarperCollins series in economics)

HarperCollins College Publishers, c1993

2nd ed

大学図書館所蔵 件 / 12

この図書・雑誌をさがす

注記

Includes bibliographical references (p. [257]-267) and indexes

内容説明・目次

内容説明

This collection of essays written by one of the founders and chief proponents of rational expectations theory is intended as a supplement for macroeconomics courses. Thomas Sargent applies rational expectations macroeconomics at an informal, non-econometric level to interpret a variety of historical and contemporary issues. Sargent uses inflation as a natural context for applying rational expectations theory. Government efforts to stop currency depreciation, alternative monetary systems and the conflict between monetary and fiscal policies are also explored.

目次

  • Part 1 Rational expectations and the reconstruction of macroeconomics: behaviour changes with the rules of the game
  • general implications of the examples
  • new econometric methods
  • historical and cross-country analysis
  • implications for policymakers. Part 2 Reaganomics and credibility: dynamic games
  • an economy as a dynamic game
  • are government deficits inflationary?
  • Reaganomics and credibility. Part 3 The ends of four big inflations: the gold standard
  • Austria
  • Hungary
  • Poland
  • Germany
  • Czechoslovakia. Part 4 Stopping moderate inflations - the methods of Poincare and Thatcher: the "Poincare miracle"
  • the British experience
  • Mrs Thatcher's plan
  • the outcome of the plan so far
  • overshooting the #M3 target
  • the government deficit
  • North Sea oil and the pound sterling
  • methods of Thatcher and Reagan
  • where to play chicken. Part 5 Some unpleasant monetarist arithmetic: a simple monetarist model
  • the Cagan-Brescian-Turroni effect
  • conclusions and qualifications. Part 6 Interpreting the Reagan deficits: government budget balance
  • Barro tax smoothing
  • Wallace's game of chicken. Part 7 Speculations about the speculation against the Hong Kong dollar: a look at Hong Kong's monetary system
  • the official float policy
  • an indeterminate exchange rate?
  • a timely depreciation
  • Hong Kong's other options. Part 8 Three essays in persuasion: back to basics on budgets
  • confrontation over deficits
  • an open letter to the Brazilian finance minister.

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