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The Conquest of American Inflation


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kartoniert
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Dezember 2001

Beschreibung

Beschreibung

"A brilliant technical treatise that includes both new results and original synthesis. . . . The Conquest of American Inflation may help to fashion a new paradigm in macroeconomic analysis."--Ben Bernanke, Princeton University"A very deep and very subtle piece of scholarship.... Sargent is most impressive in his ability to bring theoretical arguments to bear on the problem of distinguishing empirically between the two histories of postwar inflation."--Thomas F. Cooley, University of Rochester""The Conquest of American Inflation "is a fascinating document, marshalling sophisticated economic theory and econometrics to the task of explaining the past 50 years of U.S. monetary policy and its interaction with macroconomic activity. It will surely be widely cited and widely discussed."--Robert King, University of Virginia"A fascinating study of a real-world phenomenon that uses ideas from recent theoretical work on bounded rationality. Brilliant and pathbreaking."--David Kreps, Stanford University

Inhaltsverzeichnis

Preface The Rise and Fall of U.S. Inflation 2Ignoring the Lucas Critique 3The Credibility Problem 4Credible Government Policies 5Adaptive Expectations (1950's) 6Optimal Misspecified Beliefs 7Self-Confirming Equilibria 8Adaptive Expectations (1990's) 9Econometric Policy Evaluation 10Triumph or Vindication? Glossary References Author Index Subject Index

Pressestimmen

"This book illustrates Sargent's great curiosity and honesty... [Here] the reader gets a lucid, penetrating inquiry into the "ifs and buts" of rational expectations (RE) and their implications for policy."--Peter Sinclair, The Times Higher Education Supplement "A lucid, penetrating inquiry into the 'ifs and buts' of rational expectations and their implications for policy... This book illustrates Sargent's great curiosity and honesty ... A beautifully crafted, deep, and ... very accessible work... It deserves to be one of the century's most influential books on macroeconomics."--Peter Sinclair, Times Literary Supplement "A path-breaking contribution. It shows new ways to analyze dynamic economics. It is a basic reference to understand--and develop--dynamic macroeconomic theory in the 21st century."--Ramon Marimon, Journal of Economic Literature
EAN: 9780691090122
ISBN: 0691090122
Untertitel: Sprache: Englisch.
Verlag: PRINCETON UNIV PR
Erscheinungsdatum: Dezember 2001
Seitenanzahl: 168 Seiten
Format: kartoniert
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