Rasyonel Beklenti

Melike Bildirici

Ekonomik Yaklasim, 1999, vol. 10, issue 32, 31-60

Date: 1999
Note: [English Title] RATIONAL EXPECTATIONS [English Abstract] Rational expectation is an equilibrium concept that can be applied to dynamic economic models. The concept was introduced by John Muth (1960-1961) in two articles and he used explicitly stochastic dynamic models. When the Rational Expectation concept or Muth' s term first appeared in an economic journal article in 1961, it was given a specific technical meaning concepted with economic models. In everyday practical sense, rational expectations is simply an assumption about people's behaviour. Despite the impact that rational expectations has had in the development of macroeconomic theory, some economists still appears to be an extreme and controversial set of ideas with only little "policy relevance". Basic aim of this paper has been that the work on rational expectations has been important for understanding economics. [English Keywords] Not available
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