Rational Expectations
When talking about rational expectations all of us know immediately what we mean, this was my belief until some months ago. However it seems to me that many people have a vague idea about the concept, but they fail to clearly state the most important underlying assumptions.
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Starting from today, Friday 18th May 2012, I will have the pleasure to enlighten you daily (or weekly) with posts and comments about all kinds of basic (and more advanced) economic theory thoughts and reasoning.
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“In God we trust; all others must bring data.” W. Edwards Deming
Economic Theory Blog 