Das Konzept rationaler Preiserwartungen (Q2265933)

This book surveys the literature on rational expectations, starting with a thorough introduction to general equilibrium models with or without a complete market structure. The concepts of temporary and correct expectations equilibria are presented in a very clear way, leading finally to the not so clearly presented concept of a rational expectations equilibrium. Existence results are given and optimality properties of the various types of equilibria are discussed. Proofs are sketched in broad outline - too broad probably to be useful. The discussion covers the literature very well, although the important paper by \textit{R. M. Anderson} and \textit{H. Sonnenschein} [J. Econ. Theory 26, 261-278 (1982; Zbl 0485.90023)] is not mentioned. The final part of the book discusses the macroeconomic rational expectations literature which historically preceded the general equilibrium approach to the field, and which has had its own life rather uninfluenced by the latter.