The Government and Market Expectations
The paper discusses the concept of 'expectational market failures'; it attempts to assess the scope for Government intervention aiming at stabilizing economic agents' expectations. The rational-expectations hypothesis, 'evolutive' and 'eductive' learning, credibility, 'indicative planning', financial crisis, 'knowledge failure' are some of the key words of the discussion.
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Volume (Year): 157 (2001)
Issue (Month): 1 (March)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Guesnerie, R., 1989.
"An Exploration of the Eductive Justifications of the Rational Expectations Hypotbesis,"
DELTA Working Papers
89-24, DELTA (Ecole normale supérieure).
- Guesnerie, Roger, 1992. "An Exploration of the Eductive Justifications of the Rational-Expectations Hypothesis," American Economic Review, American Economic Association, vol. 82(5), pages 1254-1278, December.
- Chiappori, P.A. & Guesnerie, R., 1990.
"Sunspot Equilibria in Sequential Markets Models,"
DELTA Working Papers
90-05, DELTA (Ecole normale supérieure).
- William Fellner, 1979. "The Credibility Effect and Rational Expectations: Implications of the Gramlich Study," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 10(1), pages 167-190.
- Jean-Michel Grandmont, 1998.
"Expectations Formation and Stability of Large Socioeconomic Systems,"
Econometric Society, vol. 66(4), pages 741-782, July.
- Grandmont, Jean-Michel, 1994. "Expectations formation and stability of large socioeconomic systems," CEPREMAP Working Papers (Couverture Orange) 9424, CEPREMAP.
- Jean-Michel Grandmont, 1997. "Expectations Formation and Stability of Large Socioeconomic Systems," Working Papers 97-27, Centre de Recherche en Economie et Statistique.
- GRANDMONT, Jean-Michel, 1997. "Expectations formation and stability of large socioeconomic systems," CORE Discussion Papers 1997088, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- D. B. Bernheim, 2010.
"Rationalizable Strategic Behavior,"
Levine's Working Paper Archive
661465000000000381, David K. Levine.
- Cass, David & Shell, Karl, 1983. "Do Sunspots Matter?," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 193-227, April.
- Azariadis, Costas, 1981. "Self-fulfilling prophecies," Journal of Economic Theory, Elsevier, vol. 25(3), pages 380-396, December.
- Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 40(5), pages 951-953, September.
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