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Books > History > History of specific subjects > Economic history
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Expectations - Theory and Applications from Historical Perspectives (Hardcover, 1st ed. 2020)
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Expectations - Theory and Applications from Historical Perspectives (Hardcover, 1st ed. 2020)
Series: Springer Studies in the History of Economic Thought
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This book provides a unique historical perspective on expectations
in economic theory, and applications of expectations models in
economic history. Based on papers presented at the 2017 Thomas
Guggenheim Conference, it brings together the work of economists,
historians of economics, and economic historians on issues and
events concerning expectations in economics and economic history.
The contributions address: (i) the history of expectations models;
(ii) growth, expectations and political economy; (iii)
controversies regarding expectations methods and models; (iv)
expectations in theory and reality; and (v) expectations in
economic history. The book opens with a lecture by Thomas
Guggenheim Prize winner Duncan Foley on the evolution of
expectations in modern economic thought. The remaining content is
divided into two parts, the first of which focuses on the
utilization of expectations in the "ancient" and "meso" periods of
high theory, i.e., from Smithian to Keynesian approaches. The
papers cover topics such as "modern" applications of expectations
in both "Tobinesque-Phillips" and "Harrodian-Solowian" contexts,
and the debate between Friedmanite and Keynesian approaches to
expectation formation. In turn, the last part presents essays on
the role of economic expectations in connection with historical
events and contexts, ranging from the early 20th century to World
War II, and on the application of expectations theory to
hyperinflation and stabilization, taking Israel as a case study.
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