Relevant bibliographies by topics / Rational expectations theory

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Academic literature on the topic 'Rational expectations theory'

Author: Grafiati
Published: 28 May 2022
Last updated: 31 July 2025

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Journal articles on the topic "Rational expectations theory"

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Duch, Raymond M., and Randolph T. Stevenson. "Context and Economic Expectations: When Do Voters Get It Right?" British Journal of Political Science 41, no. 1 (2010): 1–31. http://dx.doi.org/10.1017/s0007123410000323.

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This article discusses the accuracy and sources of economic assessments in three ways. First, following the rational expectations literature in economics, a large sample of countries over a long time period permits tests of the unbiasedness implication of the rational expectations hypotheses (REH), revealing much variation in the accuracy of expectations and the nature of the biases in expectations. Secondly, a theory of expectation formation encompassing the unbiasedness prediction of the REH and setting out the conditions under which economic expectations should be too optimistic or too pess
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Stout, Lynn A. "Irrational Expectations." Legal Theory 3, no. 3 (1997): 227–48. http://dx.doi.org/10.1017/s135232520000077x.

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Rational expectations models have become a staple of economic theory and the basis for a Nobel Prize. This article argues that rational expectations analysis suffers from potentially fatal flaws that seriously undermine its value in understanding many market phenomena. Using the example of financial markets, the article illustrates how the rational expectations approach has worked to obscure, rather than to illuminate, our understanding of speculation and speculative markets. This misguidance raises problems for law and policy.
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Acocella, Nicola. "Rational Expectations and Economic Policy." STUDI ECONOMICI, no. 100 (October 2010): 9–18. http://dx.doi.org/10.3280/ste2010-100002.

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The introduction of rational expectations in the 1970s undermined the classical theory of economic policy laid down by Tinbergen, Theil and others. Since then rational expectations are often used as a strong argument against policy activism. However, rational expectations do not always imply policy invariance, although sometimes it happens. In fact, in certain circumstances rational expectations can enhance the policymaker's power to control an economy over time. The new theory of economic policy in a strategic context not only overcomes the Lucas critique, but states the conditions under whic
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DJEDDI, Tarek, Said BRIKA та Achour HAIDOUCHI. "What is the true meaning behind the stochastic hypothesis which assert that E(ε)=0 ?" Journal of Finance & Corporate Governance 1, № 2 (2017): 45–51. http://dx.doi.org/10.54960/jfcg.v1i2.12.

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The aim of this Paper is to examine the meaning about the classical hypothesis which claim that the error of expectation equal zero, by mentioning all theories of expectations before and after the REH. The rational expectations paradigm has dominated the field of economics ever since it was introduced some fifty years ago. Recently research in heterogeneous expectations, bounded rationality, and models of learning have gained leverage, and focus has shifted away from the rational expectations hypothesis. Despite these developments over the past few decades, the rational expectations paradigm i
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Young, Benjamin. "Expectations or rational expectations? A theory of systematic goal deviation." Journal of Economic Behavior & Organization 219 (March 2024): 25–37. http://dx.doi.org/10.1016/j.jebo.2024.01.003.

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PRECIOUS, MARK. "DEMAND CONSTRAINTS, RATIONAL EXPECTATIONS AND INVESTMENT THEORY *." Oxford Economic Papers 37, no. 4 (1985): 576–605. http://dx.doi.org/10.1093/oxfordjournals.oep.a041711.

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Simonsen, Mario Henrique. "Rational expectations, income policies and game theory." Brazilian Review of Econometrics 6, no. 2 (1986): 7. http://dx.doi.org/10.12660/bre.v6n21986.3110.

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Parke, William R., and George A. Waters. "ON THE EVOLUTIONARY STABILITY OF RATIONAL EXPECTATIONS." Macroeconomic Dynamics 18, no. 7 (2013): 1581–606. http://dx.doi.org/10.1017/s1365100513000059.

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Evolutionary game theory provides a fresh perspective on the prospect that agents with heterogeneous expectations might eventually come to agree on a single expectation corresponding to the efficient markets hypothesis. We establish conditions under which agreement on a unique forecast is stable, but also show that persistent heterogeneous expectations can arise if those conditions do not hold. The critical element is the degree of curvature in the payoff weighting functions agents use to value forecasting performance. We illustrate our results in the context of an asset pricing model where a
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Libman, Emiliano. "Tobin (1975) meets rational expectations." Review of Keynesian Economics 8, no. 1 (2020): 102–18. http://dx.doi.org/10.4337/roke.2020.01.08.

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In his 1975 paper, Tobin formalizes one of the main lessons from Keynes's General Theory: the idea that price flexibility is destabilizing. We propose a modified model à la Tobin by including rational expectations and staggered price setting, to show that under some conditions (a strong Tobin effect), there exist an infinite number of equilibrium paths that converge to equilibrium. Tobin was right: the most problematic assumption of modern macroeconomics is not rational expectations per se, but rather price flexibility and continuous market clearing.
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Hoover, Kevin D., and Warren Young. "RATIONAL EXPECTATIONS: RETROSPECT AND PROSPECT." Macroeconomic Dynamics 17, no. 5 (2013): 1169–92. http://dx.doi.org/10.1017/s1365100511000812.

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The transcript of a panel discussion marking the 50th anniversary of John Muth's “Rational Expectations and the Theory of Price Movements” (Econometrica 1961). The panel consisted of Michael Lovell, Robert Lucas, Dale Mortensen, Robert Shiller, and Neil Wallace. The discussion was moderated by Kevin Hoover and Warren Young. The panel touched on a wide variety of issues related to the rational-expectations hypothesis, including its history, starting with Muth's work at Carnegie Tech; its methodological role; applications to policy; its relationship to behavioral economics; its role in the recen
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Dissertations / Theses on the topic "Rational expectations theory"

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McGlone, James M. "On rational expectations and dynamic games." Diss., Virginia Polytechnic Institute and State University, 1985. http://hdl.handle.net/10919/52306.

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We consider the problem of uniting dynamic game theory and the rational expectations hypothesis. In doing so we examine the current trend in macroeconomic literature towards the use of dominant player games and offer an alternative game solution that seems more compatible with the rational expectations hypothesis. Our analysis is undertaken in the context of a simple deterministic macroeconomy. Wage setters are the agents in the economy and are playing a non-cooperative game with the Fed. The game is played with the wage setters selecting a nominal wage based on their expectation of the money
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Timmermann, Allan. "Rational expectations, learning and stock market efficiency." Thesis, University of Cambridge, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.357750.

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Carton, Joel. "Self-fulfilling expectations of cyclical volatility and learnable rational expectations behavior /." view abstract or download file of text, 1999. http://wwwlib.umi.com/cr/uoregon/fullcit?p9947970.

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Thesis (Ph. D.)--University of Oregon, 1999.<br>Typescript. Includes vita and abstract. Includes bibliographical references (leaves 110-113). Also available for download via the World Wide Web; free to University of Oregon users. Address: http://wwwlib.umi.com/cr/uoregon/fullcit?p9947970.
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Kim, Yŏng-yong. "Exchange rate determination under rational expectations : an empirical investigation /." Connect to resource, 1985. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1264773152.

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PANK, ROULUND Rasmus. "Essays in empirical economics." Doctoral thesis, European University Institute, 2019. http://hdl.handle.net/1814/62944.

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Defence date: 20 May 2019<br>Examining Board: Prof. Jerome Adda (Supervisor); Prof. Piero Gottardi,University of Essex; Prof. Rosemarie Nagel, Universitat Pompeu Fabra; Prof. Glenn W. Harrison, Georgia State University<br>This first chapter is co-authored with Nicolás Aragón and examines how participant and market confidence affect the outcomes in an experimental asset market where the fundamental value is known by all participants. Such a market should, in theory, clear at the expected value in each period. However, the literature has shown that bubbles often occur in these markets. We m
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Jackson, Aaron L. "Near-rational behavior in New Keynesian models /." view abstract or download file of text, 2002. http://wwwlib.umi.com/cr/uoregon/fullcit?p3061948.

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Thesis (Ph. D.)--University of Oregon, 2002.<br>Typescript. Includes vita and abstract. Includes bibliographical references (leaves 110-113). Also available for download via the World Wide Web; free to University of Oregon users.
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RAST, Sebastian. "Essays on the dynamics of inflation expectations." Doctoral thesis, European University Institute, 2022. http://hdl.handle.net/1814/74528.

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Defence date: 11 May 2022<br>Examining Board : Prof. Evi Pappa (Universidad Carlos III Madrid); Prof. Leonardo Melosi (Federal Reserve Bank of Chicago); Dr. Philippe Andrade (Federal Reserve Bank of Boston); Dr. Marek Jarociński (European Central Bank)<br>This thesis investigates the dynamics of inflation expectations with a particular focus on survey data. It aims to further the understanding of what drives inflation expectations and what are the implications of changes in inflation expectations for economic choices. The first chapter examines to what extent monetary policy moves household in
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Branch, William A. "Three essays on the dynamics and empirics of rationally heterogeneous expectations /." view abstract or download file of text, 2001. http://wwwlib.umi.com/cr/uoregon/fullcit?p3018358.

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Thesis (Ph. D.)--University of Oregon, 2001.<br>Typescript. Includes vita and abstract. Includes bibliographical references (leaves 99-102). Also available for download via the World Wide Web; free to University of Oregon users.
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MARINKOV, Viktor. "Essays in macroeconomics." Doctoral thesis, European University Institute, 2019. http://hdl.handle.net/1814/64747.

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Defence date: 23 October 2019<br>Examining Board: Prof. Ramon Marimon, European University Institute, (Supervisor); Prof. Juan Dolado, Universidad Carlos III; Prof. Gaetano Gaballo, HEC, Paris; Prof. Thomas Sampson, LSE<br>This thesis contains three chapters. The first two consider deviations from rational expectations for understanding the unprecedentedly long period of a binding zero lower bound (ZLB) since the Great Recession. There I show that if agents are adaptively learning, Central Banks can use forward guidance to guide them through the novel economic environment. In the third cha
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Liu, Peter Chi-Wah. "The dynamics of nominal exchange rates." Gainesville, FL, 1989. http://www.archive.org/details/dynamicsofnomina00liup.

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Books on the topic "Rational expectations theory"

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Hansen, Lars Peter. Rational expectations econometrics. Westview Press, 1991.

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Minelli, Enrico. Rational expectations in games. CIACO, 1995.

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Luzenberger, Raul De. Nuova macroeconomia classica e meccanismo di mercato: Certezze ed incertezze negli equilibri di aspettative razionali : aspetti teorici ed empirici. Edizioni scientifiche italiane, 1990.

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Hashem, Pesaran M. The limits to rational expectations. B. Blackwell, 1988.

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Pesaran, Hashem. The limits to rational expectations. Basil Blackwell, 1987.

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Labinski, P. F. Macroeconomics: A rational expectations approach. 3rd ed. Ginn Press, 1992.

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Mishkin, Frederic S. The rational expectations revolution: A review article of: Preston J. Miller, ed.: The rational expectations revolution, readings from the front line. National Bureau of Economic Research, 1995.

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E. W. M. T. Westerhout. The empirical implications of the rational expectations hypothesis. Ministry of Economic Affairs, Directorate for Economic Policy, 1991.

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Broze, Laurence. Reduced forms of rational expectations models. Harwood Academic Publishers, 1990.

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Freyberg, Ewa. Teoria racjonalnych oczekiwań. Wydawnictwa Uczelniane Szkoły Głównej Planowania i Statystyki, 1989.

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Book chapters on the topic "Rational expectations theory"

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Cyert, Richard M., and Morris H. DeGroot. "Rational Expectations." In Bayesian Analysis and Uncertainty in Economic Theory. Springer Netherlands, 1987. http://dx.doi.org/10.1007/978-94-009-3163-3_13.

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Bray, Margaret, and David M. Kreps. "Rational Learning and Rational Expectations." In Arrow and the Ascent of Modern Economic Theory. Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1007/978-1-349-07239-2_19.

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Marwala, Tshilidzi, and Evan Hurwitz. "Rational Choice and Rational Expectations." In Artificial Intelligence and Economic Theory: Skynet in the Market. Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-66104-9_3.

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Holden, K., D. A. Peel, and J. L. Thompson. "The Theory of Rational Expectations." In Expectations: Theory and Evidence. Macmillan Education UK, 1985. http://dx.doi.org/10.1007/978-1-349-17862-9_2.

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Leijonhufvud, Axel. "Rational Expectations and Monetary Institutions." In Monetary Theory and Economic Institutions. Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1007/978-1-349-08781-5_3.

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Sargent, T. J., and N. Wallace. "Rational Expectations and the Theory of Economic Policy." In Essential Readings in Economics. Macmillan Education UK, 1995. http://dx.doi.org/10.1007/978-1-349-24002-9_20.

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Burstein, M. L. "Speculation, Rational Expectations and the Pure Theory of the Macroeconomy." In Modern Monetary Theory. Palgrave Macmillan UK, 1986. http://dx.doi.org/10.1007/978-1-349-18070-7_6.

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Taylor, John. "How the Rational Expectations Revolution has Changed Macroeconomic Policy Research." In Advances in Macroeconomic Theory. Palgrave Macmillan UK, 2001. http://dx.doi.org/10.1057/9780333992753_5.

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Leiss, Matthias. "Super-Exponential Bubbles and Expectations: Theory, Simulations and Empirics." In Studies in Applied Philosophy, Epistemology and Rational Ethics. Springer International Publishing, 2016. http://dx.doi.org/10.1007/978-3-319-49872-0_6.

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Beinsen, Lutz, and Ulrike Leopold-Wildburger. "Towards Bounded Rationality within Rational Expectations — Some Comments from an Economic Point of View." In Game Theory, Experience, Rationality. Springer Netherlands, 1998. http://dx.doi.org/10.1007/978-94-017-1654-3_12.

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Conference papers on the topic "Rational expectations theory"

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Aumann, Robert J. "Rational expectations in games." In 2009 International Conference on Game Theory for Networks (GameNets). IEEE, 2009. http://dx.doi.org/10.1109/gamenets.2009.5137372.

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Frömmel, Tomáš. "THE AUSTRIAN BUSINESS CYCLE THEORY, RATIONAL EXPECTATIONS AND HISTORICAL TIME." In 7th Economics & Finance Conference, Tel Aviv. International Institute of Social and Economic Sciences, 2017. http://dx.doi.org/10.20472/efc.2017.007.002.

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Alperen, Ümit, and Ahmet Günay. "Trade Expectations Theory and China’s Rising: Towards a Peaceful Future?" In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.00907.

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Since mid-1990, it has been discussed that China’s economic rise would affect political space. There are some worries that the “rejuvenation” of China as economic, politic, geo-strategic power could challenge to the current international system. Hence this rising has been called “China threat theory” and it could cause a conflict in international system. According to realist school, China’s peaceful rise is almost impossible, so China will threat to the current international system and clash with hegemonic power. They also provide some empirical evidence from history. On the other hand, Libera
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Pakravan, Mohammad H., and Nordica MacCarty. "An Agent-Based Modeling Approach for Clean Technologies Adoption Using Theory of Planned Behavior Based Decision-Making." In ASME 2019 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. American Society of Mechanical Engineers, 2019. http://dx.doi.org/10.1115/detc2019-97670.

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Abstract Technology adoption in low-income regions is among the key challenges facing international development projects. Nearly 40% of the world’s population relies on open fires and rudimentary cooking devices exacerbating health outcomes, deforestation, and climatic impacts of inefficient biomass burning. Clean technology alternatives such as clean cookstoves are among the most challenging technologies to approach their target goals through sustainable adoption due to lack of systematic market-driven design for adoption. Thus, a method is needed to provide insight regarding how target custo
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Neal Reilly, William, and Leonard Eusebi. "Approaches to Extending Game-Theoretic Analyses to Complex, Real-World Scenarios." In 13th International Conference on Applied Human Factors and Ergonomics (AHFE 2022). AHFE International, 2022. http://dx.doi.org/10.54941/ahfe1001853.

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In domains ranging from military engagements to business to politics to games, competitors take actions to gain an advantage over others. Game theory has been used extensively since the 1950s to analyze such domains and to gain insights into the best moves for all competitors. While it is a powerful tool for analysis, game theory often falls short when applied to real-world encounters. Game-theoretic approaches over-simplify by assuming each side is composed of rational actors that attempt to maximize a single-valued utility function. Even with that simplification, real-world scenarios are oft
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Zhang, Jiawen. "Analysis of Real Estate Market and Regulation Policy Recommendations - Based on Game Theory and Rational Expectation Theory." In Proceedings of the 2019 4th International Conference on Financial Innovation and Economic Development (ICFIED 2019). Atlantis Press, 2019. http://dx.doi.org/10.2991/icfied-19.2019.17.

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Novosad, Kristina. "Population migration in an interdisciplinary dimension." In Sociology – Social Work and Social Welfare: Regulation of Social Problems. Видавець ФОП Марченко Т.В., 2023. http://dx.doi.org/10.23939/sosrsw2023.072.

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Backgroud: "Population migration" is a term that has many meanings. Population migration can manifest itself in such forms as nomadism, pilgrimage, wanderings, urbanization, ruralization, etc. Population migrations have a long history, but are relatively little studied. In Western Europe and North America, population migration became the object of sociological research only from the middle of the 19th century. Interest in the study of population migration has become relevant due to the needs of studying the adaptation of immigrants in host countries and studying the consequences of mass emigra
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Tasevska, Ivona. "EMPIRICAL RESEARCH ON THE INFORMATION EFFICIENCY OF THE MACEDONIAN STOCK EXCHANGE." In Economic and Business Trends Shaping the Future. Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2022. http://dx.doi.org/10.47063/ebtsf.2022.0027.

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One of the basic hypotheses in modern finance that defines financial markets is the Efficient Market Hypothesis. The existence of information efficient markets, where all information is incorporated in the price of financial instruments is the basis of rational economic theory. There may be an upward or downward trend in the financial markets, but after the inclusion of new information in the financial instruments, they would stabilize until the next new information. In addition to the definition of efficient markets, the hypothesis of random walk has a significant application, which explains
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Fukuda, Shuichi. "Navigating the Uncharted Waters: An Emotional Engineering Approach to Decision Making." In ASME 2012 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. American Society of Mechanical Engineers, 2012. http://dx.doi.org/10.1115/detc2012-70830.

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Although there are many approaches to decision making, most of them are tools for the Closed World, and you can make decisions before you sail out. But the world we are living in now is an Open World, where there is no chart. We have to make decisions while we are navigating. Economists, Simon and Keynes, say that in a Closed World economic agents make decisions rationally, but in an Open World they rely on emotion. This paper describes that by introducing directed graph and declarative programming techniques, we can simulate emotion-driven decision making. This approach has several advantages
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Acet, Hakan, Zeynep Karaçor, and Özlem Alkan. "Macroeconomic Models: Assessment of the 2008 Financial Crisis in the Framework of Dynamic Stockastic General Equilibrium and Agent Based Modeling." In International Conference on Eurasian Economies. Eurasian Economists Association, 2018. http://dx.doi.org/10.36880/c10.02137.

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As a result of economic crisis occurred in the mid-1970s, the macroeconomic models that were exist at that time had been criticized about their validity, and then the dynamic Stochastic general equilibrium analysis had been developed accordingly. Dynamic Stochastic general equilibrium models, which combine microeconomic foundations by assuming that households or firms are behaving optimally with rational expectations against scarce resources, have been also criticized for their adequacy with the onset of the 2008 crisis. After this crisis, agent-based modeling attracted attention and started t
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Reports on the topic "Rational expectations theory"

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Kosar, Gizem, and Davide Melcangi. Subjective Uncertainty and the Marginal Propensity to Consume. Federal Reserve Bank of New York, 2025. https://doi.org/10.59576/sr.1148.

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Earnings uncertainty is central to most heterogeneous-household models. Yet, there is surprisingly little evidence on how subjective uncertainty is related to consumption behavior. Using unique data from the Survey of Consumer Expectations, we show that the marginal propensity to consume (MPC) is increasing and concave in individual specific earnings growth uncertainty. In the workhorse consumption–savings model, augmented with risk heterogeneity, MPCs decline with earnings uncertainty, contrary to the empirical evidence. We pinpoint which mechanisms, central to the model, create this disconne
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Rincón-Torres, Andrey Duván, Andrés Felipe Salas-Ávila, and Juan Manuel Julio-Román. Inflation Expectations: Rationality, Disagreement and the Role of the Loss Function in Colombia. Banco de la República, 2023. http://dx.doi.org/10.32468/be.1262.

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We study the behaviour of three quantitative sample surveys and a non sample inflation expectation report for Colombia. We found that expectations in Colombia; (i) are not strongly, i.e. a la Muth, rational because they show cross-section disagreement, (ii) expectations, however, show some features of weak rationality, (iii) expectations disagreement is time varying and relate to inflation, inflation changes and the output gap, thus suggesting a staggered information flow to agents, (iv) the forecast error loss function employed by agents is not symmetric and increasingly penalizes higher expe
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Marcellino, Massimiliano, and Dalibor Stevanovic. The demand and supply of information about inflation. CIRANO, 2022. http://dx.doi.org/10.54932/djgr5759.

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In this article we study how the demand and supply of information about inflation affect inflation developments. As a proxy for the demand of information, we extract Google Trends (GT) for keywords such as "inflation", "inflation rate", or "price increase". The rationale is that when agents are more interested about inflation, they should search for information about it, and Google is by now a natural source. As a proxy for the supply of information about inflation, we instead use an indicator based on a (standardized) count of the Wall Street Journal (WSJ) articles containing the word "inflat
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Crump, Richard K., Stefano Eusepi, and Emanuel Moench. Is There Hope for the Expectations Hypothesis? Federal Reserve Bank of New York, 2024. http://dx.doi.org/10.59576/sr.1098.

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Most macroeconomic models impose a tight link between expected future short rates and the term structure of interest rates via the expectations hypothesis (EH). While the EH has been systematically rejected in the data, existing work evaluating the EH generally assumes either full-information rational expectations or stationarity of beliefs, or both. As such, these analyses are ill-equipped to refute the EH when these assumptions fail to hold, fueling hopes for a “resurrection” of the EH. We introduce a model of expectations formation which features time-varying means and accommodates deviatio
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Llosa, Gonzalo, and Vicente Tuesta. Determinacy and Learnability of Monetary Policy Rules in Small Open Economies. Inter-American Development Bank, 2006. http://dx.doi.org/10.18235/0010968.

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This paper evaluates under which conditions different Taylor-type rules lead to determinacy and expectational stability (E-stability) of rational expectations equilibrium in a simple New Keynesian small open economy model, developed by Gali and Monacelli (2005). In particular, we extend the Bullard and Mitra (2002) results of determinacy and E-stability in a closed economy to this small open economy framework. Our results highlight an important link between the Taylor principle and both determinacy and learnability of equilibrium in small open economies. More importantly, the degree of opennes
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Rochet, Jean-Charles. Optimal Sovereign Debt: An Analytical Approach. Inter-American Development Bank, 2006. http://dx.doi.org/10.18235/0010867.

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This paper develops a model of sovereign debt where governments are myopic. Instead of focusing on the incentives to repay, as in most of the theoretical literature on the topic (which assumes implicitly that governments have long-term objectives), I therefore consider that governments always repay when they can, but also borrow as much as possible. without paying attention to the burden of future repayments. The pattern of debt is then only determined by the willingness of international investors to lend to the country. I characterize the Rational Expectations Equilibria of the credit market.
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Bordo, Michael D., and Edward S. Prescott. Federal Reserve Structure and the Production of Monetary Policy Ideas. Federal Reserve Bank of Cleveland, 2023. http://dx.doi.org/10.26509/frbc-wp-202329.

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We evaluate the decentralized structure of the Federal Reserve System as a mechanism for generating and processing new ideas on monetary policy over the 1960 - 2000 period. We document the introduction of monetarism, rational expectations, credibility, transparency, and other monetary policy ideas by Reserve Banks into the Federal Reserve System. We argue that the Reserve Banks were willing to support and develop new ideas due to internal reforms to the FOMC that Chairman William McChesney Martin implemented in the 1950s and the increased ties with academia that developed in this period. Furth
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Petrova, Katerina. On the Validity of Classical and Bayesian DSGE-Based Inference. Federal Reserve Bank of New York, 2024. http://dx.doi.org/10.59576/sr.1084.

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This paper studies large sample classical and Bayesian inference in a prototypical linear DSGE model and demonstrates that inference on the structural parameters based on a Gaussian likelihood is unaffected by departures from Gaussianity of the structural shocks. This surprising result is due to a cancellation in the asymptotic variance resulting into a generalized information equality for the block corresponding to the structural parameters. The underlying reason for the cancellation is the certainty equivalence property of the linear rational expectation model. The main implication of this r
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9

Melnyk, Andriy. «Ареопагітика» Джона Мілтона і теорія вільного ринку ідей. Ivan Franko National University of Lviv, 2023. http://dx.doi.org/10.30970/vjo.2023.52-53.11732.

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The article is dedicated to one of the most famous rationales for the right to free expression of views and opinions, the marketplace of ideas theory, as well as John Milton’s pamphlet “Areopagitica” which is considered the first example of systematic protection of freedom of speech and the primary source for the theory. The combination of the author of the 17th century and the thinking that was finally formed in the 20th century should not be surprising, because Milton is considered the forerunner of marketplace arguments. Given the fact that freedom of speech is threatened today by authorita
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10

Beach, Rachel, and Vanessa van den Boogaard. Tax and Governance in the Context of Scarce Revenues: Inefficient Tax Collection and its Implications in Rural West Africa. Institute of Development Studies (IDS), 2022. http://dx.doi.org/10.19088/ictd.2022.005.

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In recent years, domestic and international policy attention has often focused on broadening the tax base in order to include a greater share of the population in the ‘tax net’. This is based, in part, on the hope that the expansion of taxation will result in positive ‘governance dividends’ for taxpayers. However, the implications of extending the tax base in rural areas in low-income countries has been insufficiently considered. Through the case studies of Togo, Benin, and Sierra Leone, we demonstrate that extending taxation to rural areas is often highly inefficient, leading to few, if any,
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