Rational Expectations, Non-market Clearing, and Investment TheoryBook - 1987
This book examines investment theory in the light of rational expectations and disequilibrium theory, the two major recent developments in macroeconomics. It employs a neoclassical framework to offer a remedy for the two primary shortcomings of modern investment theory: the almost exclusive focus on the demand side of the investment process; and the lack of any coherent general framework capable of handling the study of investment when it is recognized that the markets in which firms operate may not clear continuously.
Publisher: Oxford : Clarendon Press ; New York : Oxford University Press, 1987
Branch Call Number: HG4529 .P74 1987
Characteristics: vi, 167 p. : ill. ; 23 cm