Foley, Duncan K. - In: Expectations : theory and applications from historical …, (pp. 3-17). 2020
The problem of expectations in economic models is reviewed through the intellectual development of the author. Initial … efforts at macroeconomic modeling such as Foley-Sidrauski (Foley and Sidrauski 1971) treated expectations as conditioning … expectations) in this context leads to saddle-point instability of equilibrium, and the unanswered question of what behavioral …
