Paper given at session 1 of the Conference @ King's, April 8th-11th, 2010
...In this paper we sketch the emergence of REH and how it evolved to become the centerpiece of contemporary macroeconomics and finance. We focus on major arguments advanced by the promoters of the hypothesis that seemed to have contributed to its rapid and broad acceptance. We argue that REH models are fundamentally flawed on epistemological and empirical grounds and thus cannot serve as a foundation for thinking about markets and public policy...
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| INET C@K Paper Session 1 Frydman and Goldberg.pdf | 90.39 KB |
