Equilibrium, Expectations and Information
This wide-ranging survey covers Keynes' analysis, the neoclassical synthesis interpretation and modern general equilibrium theory, the "fixed price" model literature, the rational expectations school and the Neo-Ricardians. Connections are made with Keynesian concerns throughout, but the author also attempts to characterize the approaches of the last two groups in general terms. In particular, the author focuses on the distinction between convergent and divergent expectations, and between what Keynes called a co-operative economy and an entrepreneur economy. This work should interest second and third-year undergraduates, graduate students and professional economists.
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- Hardback | 160 pages
- 140 x 200mm | 356g
- 28 Jul 1988
- Polity Press
- Oxford, United Kingdom