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My assignment for this paper is to provide an up-to-date review of the
rational expectations debate about whether activist monetary and fiscal
policies can improve macroeconomic performance. Prepari...
In this paper I show that Austrian trade cycle theory is fully consistent with
rational expectations. I also compare and contrast rational expectations with an alternative
theory of rationality and ...
Scale Invariance, Bounded Rationality and Non-Equilibrium Economics
Scale Invariance Bounded Rationality Non-Equilibrium Economics
2010/10/29
We study a class of heterogeneous agent-based models which are based on a basic set
of principles, and the most fundamental operations of an economic system: trade and
product transformations. A bas...
Rationality, behavior, institutional and economic change in Schumpeter
Rationality behavior institutional economic change Schumpeter
2014/6/24
In 1940 Schumpeter wrote a paper entitled: “The Meaning of Rationality in the Social Sciences” , which was intended to on e of the meetings of a seminar including Talcott Parsons, Wassilly Léontief,...
