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Content Articles in Economics

Rational Expectations and the Theory of Macroeconomic Policy: An Exposition of Some of the Issues

Pages 55-69 | Published online: 14 Jul 2014

  • Barro, R. J., “Rational Expectations and the Role of Monetary Policy,” Journal of Monetary Economics, 1976, 2, 1–33.
  • Begg, D. K. H., The Rational Expectations Revolution in Macroeconomics, Baltimore: Johns Hopkins University Press, 1982.
  • Buiter, W. H., “The Macroeconomics of Pangloss,” Economic Journal, 1980, 90, 34–50.
  • Fair, R. C., “A Criticism of One Class of Macroeconomic Models with Rational Expectations,” Journal of Money, Credit, and Banking, 1978, 10, 411–17.
  • Fischer, S., “Long Term Contracts, Rational Expectations and the Optimum Money Supply Rule,” Journal of Political Economy, 1977, 85, 191–205.
  • Gray, J. A., “Wage Indexation: A Macroeconomic Approach,” Journal of Monetary Economics, 1976, 2, 221–35.
  • Lucas, R. E., Jr., “Expectations and the Neutrality of Money,” Journal of Economic Theory, 1972, 4, 103–24.
  • Lucas, R. E., Jr., “Some International Evidence on Output-Inflation Tradeoffs,” American Economic Review, 1973, 68, 326–34.
  • Lucas, R. E., Jr., “Econometric Policy Evaluation: A Critique,” in K. Brunner and A. H. Meltzer, eds., The Phillips Curve and Labor Markets, Supplement to Journal of Monetary Economics, 1976.
  • McCafferty, S., and Driskill, R., “Problems of Existence and Uniqueness of Equilibria in Rational Expectations Models,” Econometrica, 1980, 48, 1313–17.
  • McCallum, B. T., “Rational Expectations and Macroeconomic Stabilization Policy,” Journal of Money, Credit, and Banking, 1980, 12, 714–46.
  • McCallum, B. T., “On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective,” Journal of Monetary Economics, 1983, 11, 139–68.
  • McCallum, B. T., and Whitaker, J. K., “The Effectiveness of Fiscal Feedback Rules and Automatic Stabilizers under Rational Expectations,” Journal of Monetary Economics, 1979, 5, 181–86.
  • Mills, E. S., Price, Output, and Inventory Policy, New York: John Wiley and Sons, 1962.
  • Muth, J. F., “Rational Expectations and the Theory of Price Movements,” Econometrica, 1961, 29, 315–35.
  • Sargent, T. J., “Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment,” Brookings Papers on Economic Activity, 1973, 2, 429–72.
  • Sargent, T. J., and Wallace, N., “Rational Expectations, the Optimal Monetary Instrument and the Optimal Money Supply Rule,” Journal of Political Economy, 1975, 83, 241–54.
  • Sargent, T. J., and Wallace, N., “Rational Expectations and the Theory of Economic Policy,” Journal of Monetary Economics, 1976, 2, 169–83.
  • Taylor, J. B., “Conditions for Unique Solutions to Stochastic Macroeconomic Models with Rational Expectations,” Econometrica, 1977, 45, 1377–85.
  • Taylor, J. B., “Staggered Wage Setting in a Macroeconomic Model,” American Economic Review, Papers and Proceedings, 1979, 69, 108–13.
  • Turnovsky, S. J., “The Choice of Monetary Instruments under Alternative Forms of Price Expectations,” Manchester School, 1980, 48, 39–63.

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