Counterfactuals, Forecasts, and Choice-Theoretic Modelling of Policy
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This paper focuses on the problem of formulating an analysis of economic policy that is consistent with rational expectations. Cooley, LeRoy,and Raymon show that the Lucas and Sargent strategy for econometric policy evaluation is itself vulnerable to the logic of the Lucas critique. The present
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美国国家经济研究局创建时间：
1984-06-01
