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NBER Macroeconomics Annual 2020: Volume 35

By Martin Eichenbaum (Editor), Erik Hurst (Editor), National Bureau of Economic Research (Adapted by)
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$90.00
By Martin Eichenbaum (Editor), Erik Hurst (Editor), National Bureau of Economic Research (Adapted by)
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NBER Macroeconomics Annual 2020 presents research by leading scholars on central issues in contemporary macroeconomics. George-Marios Angeletos, Zhen Huo, and Karthik Sastry ask how to model expectations without rational expectations. They find that in response to business cycle shocks, expectations underreact initially but eventually overshoot, which in their view favors models with dispersed, noisy information and overextrapolation of expectations. Next, Esteban Rossi-Hansberg, Pierre-Dan...

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