Learning, Expectations, and the Financial Instability Hypothesis

Martin Guzman and Peter Howitt
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Peter Howitt: Brown University

Chapter 6 in Contemporary Issues in Macroeconomics, 2016, pp 50-60 from Palgrave Macmillan

Abstract: Abstract Expectations matter. Many economic and financial decisions depend on the perception of future incomes and prices. The evolution of expectations, and how correct they are over time, determines the stability of the system.

Keywords: Forecast Error; Output Growth; Bayesian Learning; Contemporary Issue; Precautionary Saving (search for similar items in EconPapers)
Date: 2016
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Working Paper: Learning, Expectations, and the Financial Instability Hypothesis (2015)
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DOI: 10.1057/9781137529589_7

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