The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory … his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised …

the rational expectations hypothesis (REH), which rules out such a role by design. The financial crisis that began in 2007 …

equilibrium under rational expectations. He then applies this framework to a large number of dynamic macroeconomic models … reflecting such diverse lines of thought as general equilibrium theory, imperfect competition, Keynesian theory, and rational … expectations. He begins with a simple microeconomic synthesis of imperfect competition and nonclearing markets in general …