Deciding between alternative approaches in macroeconomics
Macroeconomic time-series data are aggregated, inaccurate, non-stationary, collinear and rarely match theoretical concepts. Macroeconomic theories are incomplete, incorrect and changeable: location shifts invalidate the law of iterated expectations and 'rational expectations' are then syst...
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| Aineistotyyppi: | Working paper |
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University of Oxford
2016
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