Rational Expectations and Inflation (ebook)

Argumento de Rational Expectations and Inflation (ebook)

"In Rational Expectations and Inflation, Sargent provides a consistent way to think about the relationship between a government and its central bank. . . . [I]t is the best exposition of what monetary policy is all about, at this mostly nontechnical level, of which I know. . . . Rational Expectations and Inflation on the whole remains fresh, stimulating and informative."--Edward J. Green, The Region

Thomas J. Sargent, Winner of the 2011 Nobel Prize in Economics

"Sargent's work on inflation remains central to cutting-edge research in economics as well as to current and momentous policy decisions. Are the United States and Europe headed toward inflation with our large and intractable deficits? Will the European currency union survive? The breakthrough theoretical insights and brilliant case studies in this book are still the foundations that anyone thinking about these questions needs to read, and then to read again."--John H. Cochrane, author of Asset Pricing

"Rational Expectations and Inflation is a collection of classic articles on the subject, several of which were explicitly cited in the scientific background to Sargent's Nobel Prize. The contribution of this book is great."--Marco Bassetto, Federal Reserve Bank of Chicago

"Sargent's interpretation of the hyperinflations is not new. What is new and important is his explicit use of the terminology and constructs of the theory of rational expectations. That terminology and those constructs clearly offer an illuminating way to analyze these complex events. . . . Whether you agree or disagree with Sargent's interpretation of specific historical episodes, you will get a better understanding of both the theory of rational expectations and the interrelations of monetary and fiscal policy from this imaginative, analytically subtle, and lucidly written book."--Milton Friedman, Journal of Political Economy0