The Controversy Over Rational Expectations

David Mayes

National Institute Economic Review, 1981, vol. 96, issue 1, 53-61

Abstract: The purpose of this article is to examine in a non-technical manner the contribution of the hypothesis of rational expectations to the explanation of how people form expectations of the values of economic variables. In particular the article draws conclusions for what the hypothesis may and may not imply for the formation of macroeconomic policy in the United Kingdom. There is a short annotated biblography at the end of the article.

Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:sae:niesru:v:96:y:1981:i:1:p:53-61

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