The Rational Expectations Hypothesis: An assessment on its real world application

The Rational Expectations Hypothesis was first developed as a theoretical technique aimed at explaining agents’ behavior in a given environment -- In particular, it describes how the outcome of a given economic phenomenon depends to a certain degree on what agents expect to happen -- Subsequently, i...

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Autores:
Tobón, Santiago
Tipo de recurso:
Fecha de publicación:
2014
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/5280
Acceso en línea:
http://hdl.handle.net/10784/5280
Palabra clave:
Rational Expectations
EXPECTATIVAS RACIONALES (TEORÍA ECONÓMICA)
MACROECONOMÍA
POLÍTICA MONETARIA
Rational expectations (Economic theory)
Macroeconomics
Monetary policy
Rights
License
Copyright (c) 2015 Ecos de Economía
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spelling 2014-12-152015-05-05T17:00:19Z2014-12-152015-05-05T17:00:19Z1657-4206http://hdl.handle.net/10784/528010.17230/ecos.2014.39.2The Rational Expectations Hypothesis was first developed as a theoretical technique aimed at explaining agents’ behavior in a given environment -- In particular, it describes how the outcome of a given economic phenomenon depends to a certain degree on what agents expect to happen -- Subsequently, it was introduced into macroeconomic models as a way to explain the ineffectiveness of monetary policy -- Since then, most of these models have been based on the rational expectations assumption -- This paper assesses the real life application of this feature based on two arguments: the determination of an objective reality through beliefs and subjective expectations; and the exclusion of the evolution of human knowledge and innovation in macroeconomic modelsapplication/pdfengUniversidad EAFITEcos de Economía; Vol. 18, Núm. 39 (2014); 37-47http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2705http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2705Copyright (c) 2015 Ecos de EconomíaAcceso abiertohttp://purl.org/coar/access_right/c_abf2Ecos de Economía; Vol. 18, Núm. 39 (2014); 37-47instname:Universidad EAFITreponame: Repositorio Institucional Universidad EAFITRational ExpectationsEXPECTATIVAS RACIONALES (TEORÍA ECONÓMICA)MACROECONOMÍAPOLÍTICA MONETARIARational expectations (Economic theory)MacroeconomicsMonetary policyThe Rational Expectations Hypothesis: An assessment on its real world applicationinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/articlearticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Tobón, SantiagoEcos de Economía18393747ecos.econ.ORIGINALdocument (82).pdfdocument (82).pdfTexto completo PDFapplication/pdf249253https://repository.eafit.edu.co/bitstreams/33ecf878-8222-4009-b3e9-737408475d86/download767077eb2279cf8579a28f641fd2f18cMD51articulo.htmlarticulo.htmlTexto completo HTMLtext/html377https://repository.eafit.edu.co/bitstreams/4d462166-d7dd-4e87-9d4a-37179ff25b96/download02b2bf75ad2f37063e35e47c5e3b44d0MD53THUMBNAILminaitura-ecos_Mesa de trabajo 1.jpgminaitura-ecos_Mesa de trabajo 1.jpgimage/jpeg251248https://repository.eafit.edu.co/bitstreams/f02e782f-71d9-4c29-ad92-48b8aca82482/download9b15d674b076c1793a0bc25cebb1bcefMD5210784/5280oai:repository.eafit.edu.co:10784/52802020-03-18 12:30:13.943open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co
dc.title.eng.fl_str_mv The Rational Expectations Hypothesis: An assessment on its real world application
title The Rational Expectations Hypothesis: An assessment on its real world application
spellingShingle The Rational Expectations Hypothesis: An assessment on its real world application
Rational Expectations
EXPECTATIVAS RACIONALES (TEORÍA ECONÓMICA)
MACROECONOMÍA
POLÍTICA MONETARIA
Rational expectations (Economic theory)
Macroeconomics
Monetary policy
title_short The Rational Expectations Hypothesis: An assessment on its real world application
title_full The Rational Expectations Hypothesis: An assessment on its real world application
title_fullStr The Rational Expectations Hypothesis: An assessment on its real world application
title_full_unstemmed The Rational Expectations Hypothesis: An assessment on its real world application
title_sort The Rational Expectations Hypothesis: An assessment on its real world application
dc.creator.fl_str_mv Tobón, Santiago
dc.contributor.author.spa.fl_str_mv Tobón, Santiago
dc.subject.eng.fl_str_mv Rational Expectations
topic Rational Expectations
EXPECTATIVAS RACIONALES (TEORÍA ECONÓMICA)
MACROECONOMÍA
POLÍTICA MONETARIA
Rational expectations (Economic theory)
Macroeconomics
Monetary policy
dc.subject.lemb.none.fl_str_mv EXPECTATIVAS RACIONALES (TEORÍA ECONÓMICA)
MACROECONOMÍA
POLÍTICA MONETARIA
dc.subject.keyword.none.fl_str_mv Rational expectations (Economic theory)
Macroeconomics
Monetary policy
description The Rational Expectations Hypothesis was first developed as a theoretical technique aimed at explaining agents’ behavior in a given environment -- In particular, it describes how the outcome of a given economic phenomenon depends to a certain degree on what agents expect to happen -- Subsequently, it was introduced into macroeconomic models as a way to explain the ineffectiveness of monetary policy -- Since then, most of these models have been based on the rational expectations assumption -- This paper assesses the real life application of this feature based on two arguments: the determination of an objective reality through beliefs and subjective expectations; and the exclusion of the evolution of human knowledge and innovation in macroeconomic models
publishDate 2014
dc.date.issued.none.fl_str_mv 2014-12-15
dc.date.available.none.fl_str_mv 2015-05-05T17:00:19Z
dc.date.accessioned.none.fl_str_mv 2015-05-05T17:00:19Z
dc.date.none.fl_str_mv 2014-12-15
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/article
dc.type.eng.fl_str_mv article
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dc.type.local.spa.fl_str_mv Artículo
dc.identifier.issn.none.fl_str_mv 1657-4206
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/5280
dc.identifier.doi.none.fl_str_mv 10.17230/ecos.2014.39.2
identifier_str_mv 1657-4206
10.17230/ecos.2014.39.2
url http://hdl.handle.net/10784/5280
dc.language.iso.eng.fl_str_mv eng
language eng
dc.relation.ispartof.spa.fl_str_mv Ecos de Economía; Vol. 18, Núm. 39 (2014); 37-47
dc.relation.isversionof.none.fl_str_mv http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2705
dc.relation.uri.none.fl_str_mv http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2705
dc.rights.spa.fl_str_mv Copyright (c) 2015 Ecos de Economía
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.local.spa.fl_str_mv Acceso abierto
rights_invalid_str_mv Copyright (c) 2015 Ecos de Economía
Acceso abierto
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dc.format.none.fl_str_mv application/pdf
dc.publisher.spa.fl_str_mv Universidad EAFIT
dc.source.spa.fl_str_mv Ecos de Economía; Vol. 18, Núm. 39 (2014); 37-47
instname:Universidad EAFIT
reponame: Repositorio Institucional Universidad EAFIT
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reponame_str Repositorio Institucional Universidad EAFIT
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