Обложка книги The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control : A Promising Combination? (Advances in Computational Economics)

The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control : A Promising Combination? (Advances in Computational Economics)

ISBN: 0792374843;
Издательство: Springer

Book Description One of the major controversies in macroeconomics over the last 30 years has been that on the effectiveness of stabilization policies. However, this debate, between those who believe that this kind of policies is useless if not harmful and those who argue in favor of it, has been mainly theoretical so far. The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control wants to represent a step toward the construction of a common ground on whichto empirically compare the two "beliefs" and to do this three strands of literature are brought together. The first strand is the research on time-varying parameters (TVP), the second strand is the work on adaptive control and the third one is the literature on linear stationary models with rational expectations (RE). The material presented in The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control is divided into two parts. Part 1...