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Rational Expectations Hypothesis, DSGE models and the Behavioural paradigm _ This blogpost is an extract of this paper _ Throughout the development of economic theory, the importance of expectations has grown, significantly influencing both research and economic policies (1). Although it is now almost impossible to find an economic discussion that does not consider this concept, economists' attention to how expectations are actually formed and how they interact with other eco

What is Money for Silvio Gesell? The human mind is baffled by the abstract, and money hitherto has been wholly abstract. There was...

We inaugurate this project, called metaeconomica, with two quotes in comparison: one from S. Freud and the other from J.M. Keynes. Both...

John Maynard Keynes, 1st Baron Keynes, was a British economist whose ideas fundamentally changed the theory and practice of economics....