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

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dc.citation.epage47
dc.citation.issue39
dc.citation.journalAbbreviatedTitleecos.econ.
dc.citation.journalTitleEcos de Economía
dc.citation.spage37
dc.citation.volume18
dc.contributor.authorTobón, Santiagospa
dc.date2014-12-15
dc.date.accessioned2015-05-05T17:00:19Z
dc.date.available2015-05-05T17:00:19Z
dc.date.issued2014-12-15
dc.descriptionThe 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
dc.formatapplication/pdf
dc.identifier.doi10.17230/ecos.2014.39.2
dc.identifier.issn1657-4206
dc.identifier.urihttp://hdl.handle.net/10784/5280
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.relation.ispartofEcos de Economía; Vol. 18, Núm. 39 (2014); 37-47spa
dc.relation.isversionofhttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2705
dc.relation.urihttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2705
dc.rightsCopyright (c) 2015 Ecos de Economíaspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.sourceEcos de Economía; Vol. 18, Núm. 39 (2014); 37-47spa
dc.sourceinstname:Universidad EAFITspa
dc.sourcereponame: Repositorio Institucional Universidad EAFITspa
dc.subjectRational Expectationseng
dc.subject.keywordRational expectations (Economic theory)
dc.subject.keywordMacroeconomics
dc.subject.keywordMonetary policy
dc.subject.lembEXPECTATIVAS RACIONALES (TEORÍA ECONÓMICA)
dc.subject.lembMACROECONOMÍA
dc.subject.lembPOLÍTICA MONETARIA
dc.titleThe Rational Expectations Hypothesis: An assessment on its real world applicationeng
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion
dc.typearticleeng
dc.type.localArtículospa

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Ecos de Economía, Vol. 18, No. 39 (2014)
Vol 18, No 39 (2014)