TECHNICAL CHANGE AND FORMATION OF EXPECTATIONS

Marco Crocco ()

Metroeconomica, 2008, vol. 59, issue 2, pages 276-304

Abstract: The aim of this paper is to discuss the implications for the process of expectation formation as developed by Keynes and the Post-Keynesians when technical change (as understood by the Evolutionary and Institutional school of thought) is taken into account. The claim made here is that the traditional division of expectations in short and long period is insufficient to deal with all features of technical change, and thus, a new type of expectations (medium-period) is proposed. Moreover, it is claimed that the independence among different types of expectations cannot stand when medium-period expectations are taken into account. Copyright © 2008 The Author.

Date: 2008

Downloads: (external link)
http://www.blackwell-synergy.com/servlet/useragent ... &year=2008&part=null link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Technical Change and formation of expectations (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:bla:metroe:v:59:y:2008:i:2:p:276-304

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0026-1386

Access Statistics for this article

Metroeconomica is edited by Heinz D. Kurz and Neri Salvadori

More articles in Metroeconomica from Blackwell Publishing
Series data maintained by Christopher F. Baum ().