Authors

Robert Leeson, University of Notre Dame AustraliaFollow
Warren Young

Mythical Expectations

Document Type

Book Chapter

Publication Date

2008

Abstract

According to the conventional account, economists have relied on three types of expectations: static (contained in the original Keynesian Phillips curve); adaptive (introduced by Milton Friedman’s in the course of his Monetarist counter-revolution) and rational (part of Robert Lucas’s natural rate New Classical counter revolution). This chapter argues that there is a fourth expectational type: the myths associated with these natural rate counter revolutions.

ISBN: 9781403949592

Comments

The Anti-Keynesian Tradition may be accessed from the publisher here

The Anti-Keynesian Tradition may be accessed from the National Library of Australia here

Recommended Citation

Leeson, R., & Young, W. (2008). Mythical expectations. In R. Leeson (Ed). The anti-Keynesian tradition. New York, NY: Palgrave Macmillan.