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40 relations: Adaptive expectations, Agent (economics), Behavioral economics, Bias (statistics), Consumption (economics), Contract theory, David R. Henderson, Deirdre McCloskey, Demand for money, Dynamic stochastic general equilibrium, Economic equilibrium, Economics, Errors and residuals, Estimator, Ex-ante, Factors of production, Fixed investment, Game theory, Inflation, John Muth, Liberty Fund, Lucas aggregate supply function, Lucas critique, Lucas islands model, Macroeconomic model, Market price, Monetary policy, Neil Wallace, New classical macroeconomics, New Keynesian economics, Null hypothesis, Policy-ineffectiveness proposition, Rational choice theory, Rationality, Regression analysis, Robert Lucas Jr., Stanley Fischer, Supply and demand, The New Palgrave Dictionary of Economics, Thomas J. Sargent.
Adaptive expectations
In economics, adaptive expectations is a hypothesized process by which people form their expectations about what will happen in the future based on what has happened in the past.
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Agent (economics)
In economics, an agent is an actor and more specifically a decision maker in a model of some aspect of the economy.
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Behavioral economics
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.
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Bias (statistics)
Statistical bias is a feature of a statistical technique or of its results whereby the expected value of the results differs from the true underlying quantitative parameter being estimated.
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Consumption (economics)
Consumption is the process in which consumers (customers or buyers) purchase items on the market.
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Contract theory
In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of asymmetric information.
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David R. Henderson
David R. Henderson (born November 21, 1950) is a Canadian-born American economist and author who moved to the United States in 1972 and became a U.S. citizen in 1986, serving on President Ronald Reagan’s Council of Economic Advisers from 1982 to 1984.
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Deirdre McCloskey
Deirdre Nansen McCloskey (born September 11, 1942), born Donald N. McCloskey, is the Distinguished Professor of Economics, History, English, and Communication at the University of Illinois at Chicago (UIC).
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Demand for money
In monetary economics, the demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits rather than investments.
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Dynamic stochastic general equilibrium
Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a method in macroeconomics that attempts to explain economic phenomena, such as economic growth and business cycles, and the effects of economic policy, through econometric models based on applied general equilibrium theory and microeconomic principles.
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Economic equilibrium
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
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Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services.
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Errors and residuals
In statistics and optimization, errors and residuals are two closely related and easily confused measures of the deviation of an observed value of an element of a statistical sample from its "theoretical value".
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Estimator
In statistics, an estimator is a rule for calculating an estimate of a given quantity based on observed data: thus the rule (the estimator), the quantity of interest (the estimand) and its result (the estimate) are distinguished.
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Ex-ante
The term ex-ante (sometimes written ex ante or exante) is a phrase meaning "before the event".
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Factors of production
In economics, factors of production, resources, or inputs are which is used in the production process to produce output—that is, finished goods and services.
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Fixed investment
Fixed investment in economics refers to investment in fixed capital or to the replacement of depreciated fixed capital.
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Game theory
Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers".
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Inflation
In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.
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John Muth
John Fraser Muth (September 27, 1930 – October 23, 2005) was an American economist.
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Liberty Fund
Liberty Fund, Inc. is a nonprofit foundation headquartered in Indianapolis, Indiana which promulgates the libertarian views of its founder, Pierre F. Goodrich through publishing, conferences, and educational resources.
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Lucas aggregate supply function
The Lucas aggregate supply function or Lucas "surprise" supply function, based on the Lucas imperfect information model, is a representation of aggregate supply based on the work of new classical economist Robert Lucas.
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Lucas critique
The Lucas critique, named for Robert Lucas's work on macroeconomic policymaking, argues that it is naive to try to predict the effects of a change in economic policy entirely on the basis of relationships observed in historical data, especially highly aggregated historical data.
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Lucas islands model
The Lucas islands model is an economic model of the link between money supply and price and output changes in a simplified economy using rational expectations.
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Macroeconomic model
A macroeconomic model is an analytical tool designed to describe the operation of the economy of a country or a region.
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Market price
In economics, market price is the economic price for which a good or service is offered in the marketplace.
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Monetary policy
Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.
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Neil Wallace
Neil Wallace (born 1939) is an American economist and professor at Pennsylvania State University.
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New classical macroeconomics
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework.
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New Keynesian economics
New Keynesian economics is a school of contemporary macroeconomics that strives to provide microeconomic foundations for Keynesian economics.
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Null hypothesis
In inferential statistics, the term "null hypothesis" is a general statement or default position that there is no relationship between two measured phenomena, or no association among groups.
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Policy-ineffectiveness proposition
The policy-ineffectiveness proposition (PIP) is a new classical theory proposed in 1975 by Thomas J. Sargent and Neil Wallace based upon the theory of rational expectations, which posits that monetary policy cannot systematically manage the levels of output and employment in the economy.
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Rational choice theory
Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior.
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Rationality
Rationality is the quality or state of being rational – that is, being based on or agreeable to reason.
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Regression analysis
In statistical modeling, regression analysis is a set of statistical processes for estimating the relationships among variables.
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Robert Lucas Jr.
Robert Emerson Lucas Jr. (born September 15, 1937) is an American economist at the University of Chicago.
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Stanley Fischer
Stanley Fischer (סטנלי פישר; born October 15, 1943) is an Israeli American economist and former vice chairman of the Federal Reserve.
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Supply and demand
In microeconomics, supply and demand is an economic model of price determination in a market.
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The New Palgrave Dictionary of Economics
The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.
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Thomas J. Sargent
Thomas John "Tom" Sargent (born July 19, 1943) is an American economist, who is currently the W.R. Berkley Professor of Economics and Business at New York University.
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Economic expectations, Individually rational, Ratex, Rational Expectations, Rational Expectations Theory, Rational expectations hypothesis, Rational expectations theory, Theory of rational expectations.
References
[1] https://en.wikipedia.org/wiki/Rational_expectations
