IDEAS home Printed from https://ideas.repec.org/a/cvv/journ3/v5y2018i2p117-159.html

Legacies of rational expectations, Lucas’s contributions, and philosophy of time and existence

Author

Listed:
  • Hiroaki HAYAKAWA

    (Faculty of Economics, Saitama University, Japan)

Abstract

This study aims to clarify the legacies of rational expectations and Lucas’s contributions to macroeconomics. The study also aims to explore the philosophical implications of rational expectations, especially in relation to the philosophy of time and existence. The study finds that rational expectations have had a significant impact on macroeconomic theory and policy. Lucas’s contributions, particularly his critique of Keynesian economics and his development of the Lucas critique, have been instrumental in shaping modern macroeconomics. The study also finds that rational expectations have philosophical implications, particularly in relation to the concept of time and the nature of existence. The study concludes that rational expectations and Lucas’s contributions have had a profound impact on both economics and philosophy.

Suggested Citation

  • Hiroaki HAYAKAWA, 2018. "Legacies of rational expectations, Lucas’s contributions, and philosophy of time and existence," Journal of Economic and Social Thought, EconSciences Journals, vol. 5(2), pages 117-159, June.
    • Handle: RePEc:cvv:journ3:v:5:y:2018:i:2:p:117-159
    as

    Download full text from publisher

    File URL: https://journals.econsciences.com/index.php/JEST/article/download/1660/1644
    Download Restriction: no
    File URL: https://journals.econsciences.com/index.php/JEST/article/view/1660
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cvv:journ3:v:5:y:2018:i:2:p:117-159. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bilal KARGI (email available below). General contact details of provider: https://journals.econsciences.com/index.php/JEST .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.