Expectations of business entities and changes in the theory of economics Cover Image

Oczekiwania i decyzje gospodarstw domowych oraz przedsiębiorstw a makroekonomiczne konsekwencje polityki gospodarczej
Expectations of business entities and changes in the theory of economics

Author(s): Marcin Krawczyk
Subject(s): Micro-Economics, Economic policy
Published by: Szkoła Główna Handlowa w Warszawie
Keywords: fiscal policy; monetary policy; Phillips curve; demand for money; ricardian equivalence

Summary/Abstract: The paper describes different approaches in the theory of economics (from Phillips curve through ricardian equivalence theorem to the demand for money) to the expectations of business entities on the future shape of basic macroeconomic aggregates. Inclusion of such expectations in theoretical framework of economics changes described economic processes and leads to change in the conclusions.

  • Issue Year: 26/2016
  • Issue No: 2
  • Page Range: 29-48
  • Page Count: 20
  • Language: Polish