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The Controversy Over Rational Expectations

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  • David G. Mayes

    (National Institute of Economic and Social Research)

Abstract

The purpose of this article is to examine in a non-technical manner the contribution of the hypothesis of rational expectations to the explanation of how people form expectations of the values of economic variables. In particular the article draws conclusions for what the hypothesis may and may not imply for the formation of macroeconomic policy in the United Kingdom. There is a short annotated biblography at the end of the article.

Suggested Citation

  • David G. Mayes, 1981. "The Controversy Over Rational Expectations," National Institute Economic Review, National Institute of Economic and Social Research, vol. 96(1), pages 53-61, May.
    • Handle: RePEc:sae:niesru:v:96:y:1981:i:1:p:53-61
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    Cited by:

    1. Bernard Walliser, 1982. "Equilibres et anticipations," Revue Économique, Programme National Persée, vol. 33(4), pages 594-638.
    2. Muzafar Shah Habibullah, 2005. "Do Bankers Make Rational Economic Forecasts?," The IUP Journal of Bank Management, IUP Publications, vol. 0(4), pages 7-15, November.

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