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A Rational Expectations Experiment

Norris A. Peterson
The Journal of Economic Education
Vol. 21, No. 1 (Winter, 1990), pp. 73-78
Published by: Taylor & Francis, Ltd.
DOI: 10.2307/1182411
Stable URL: http://www.jstor.org/stable/1182411
Page Count: 6
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A Rational Expectations Experiment
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Abstract

A simple classroom simulation of the Lucas supply curve mechanism with rational expectations is presented. Students discover that discretionary changes in policy become ineffective.

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