Monetary Policy And Rational Expectations

This book puts forward the view that rational expectations have a key role in formulating economic policy and in determining economic activity, prices, interest rates, and employment rates. Arguing that economic policy crucially depends upon expectations about future government policies, the author supports his thesis by drawing on monetary theory as well as on the actual experiences of several post-World War II countries.

GEORGE MACESICH is Professor of Economics and Director of the Center for Yugoslav-American Studies, Research and Exchanges at Flordia State University, Tallahassee.