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Rational Expectations And Monetary Theory: An Investigative Paper[1960 - 1989]

Author

Listed:
  • DR. GODWIN CHUKWUDUM NWAOBI

    (QUANTITATIVE ECONOMIC RESEARCH BUREAU, NIGERIA)

Abstract
SINCE 1930, EXPECTATIONS HAVE PLAYED AN IMPORTANT ROLE IN ECONOMIC THEORY AND THIS IS BECAUSE ECONOMICS IS GENERALLY CONCERNED WITH THE IMPLICATIONS OF CURRENT ACTIONS FOR THE FUTURE. THIS PAPER THEREFORE ARGUES THAT THE DEVELOPMENT OF RATIONAL EXPECTATIONS THEORY WILL MAKE A MORE SIGNIFICANT CONTRIBUTION TO ECONOMICS(AND IN PARTICULAR, MONETARY ECONOMICS) IN THE IMPETUS IT GIVES TO RESEARCH ON THE VITAL AREAS OF LEARNING AND PRICE EXPECTATIONS FORMATION

Suggested Citation

  • Dr. Godwin Chukwudum Nwaobi, 2005. "Rational Expectations And Monetary Theory: An Investigative Paper[1960 - 1989]," Macroeconomics 0501001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpma:0501001
    Note: Type of Document - pdf; pages: 10. THIS IS A PREVIOUS RESEARCH PAPER FOR PUBLIC ACCESS
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0501/0501001.pdf
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    References listed on IDEAS

    as
    1. Mishkin, Frederic S, 1982. "Does Anticipated Monetary Policy Matter? An Econometric Investigation," Journal of Political Economy, University of Chicago Press, vol. 90(1), pages 22-51, February.
    2. Sebastian Edwards, 1983. "The Short-Run Relation Between Inflation and Growth in Latin America," NBER Working Papers 1065, National Bureau of Economic Research, Inc.
    3. Fratianni, Michele, 1978. "Inflation and unanticipated changes in output in Italy," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 8(1), pages 141-180, January.
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    5. Frank Hahn, 1985. "Money and Inflation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262580624, April.
    6. Grossman, Jacob, 1979. "Nominal Demand Policy and Short-Run Fluctuations in Unemployment and Prices in the United States," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 1063-1085, October.
    7. Pesaran, M H, 1982. "A Critique of the Proposed Tests of the Natural Rate-Rational Expectations Hypothesis," Economic Journal, Royal Economic Society, vol. 92(367), pages 529-554, September.
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    11. Frenkel, Jacob A, 1977. "The Forward Exchange Rate, Expectations, and the Demand for Money: The German Hyperinflation," American Economic Review, American Economic Association, vol. 67(4), pages 653-670, September.
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    15. Hanson, James A, 1980. "The Short-Run Relation between Growth and Inflation in Latin America: A Quasi-Rational or Consistent Expectations Approach," American Economic Review, American Economic Association, vol. 70(5), pages 972-989, December.
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    18. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
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    21. Prescott, Edward C., 1977. "Should control theory be used for economic stabilization?: A rejoinder," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 7(1), pages 101-102, January.
    22. repec:bla:econom:v:42:y:1975:i:166:p:123-38 is not listed on IDEAS
    23. Alberro, Jose, 1981. "The Lucas hypothesis on the Phillips Curve : Further international evidence," Journal of Monetary Economics, Elsevier, vol. 7(2), pages 239-250.
    24. Adalbert Knöbl, 1974. "Price Expectations and Actual Price Behavior in Germany (Allemagne: anticipations et évolution effective des prix) (Expectativas y comportamiento real de los precios en Alemania)," IMF Staff Papers, Palgrave Macmillan, vol. 21(1), pages 83-100, March.
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    Cited by:

    1. Dr. Godwin Chukwudum Nwaobi, 2004. "Modelling Economic Fluctuations In Subsaharan Africa:A Vector Autoregressive Approach," Macroeconomics 0406008, University Library of Munich, Germany.

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    More about this item

    Keywords

    RATIONAL EXPECTATIONS; MONETARY THEORY; AUGUMENTED PHILLIPS CURVE; INFLATION; OUTPUT; PRICES;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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