ERRORS IN RATIONAL-EXPECTATIONS MATTER

被引：0
|
作者：
BORGHANS, L
机构：
[1] Research Centre for Education and the Labour Market, NL-6200 MD Maastricht
来源：
ECONOMICS LETTERS | 1993年 / 41卷 / 01期
关键词：
D O I：
10.1016/0165-1765(93)90106-M
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Muth (Econometrica, 1961, 29, 299-306) and Sargent and Wallace (Journal of Monetary Economics, 1976, 2, 169-183) claimed that the main results of rational expectations theory allow for possibly large independent errors. This paper shows that in such a situation the pseudo rational expectation is no longer optimal.
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页码：25 / 28
页数：4
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