Beyer, Andreas; Farmer, Roger E. A.; Henry, Jérôme; … - 2005
New-Keynesian models are characterized by the presence of expectations as explanatory variables. To use these models … rule, rational expectations, factor analysis, de-
terminacy of equilibrium.
4
ECB
Working Paper Series No. 510
August 2005 … future output appears on the right-hand-side. The estimation
of models that include future expectations has revived a debate …