The question of what information market participants possess at any point in time and how quickly they learn—in other words, the information structure of the model—is a distinguishing feature of the...


The question of what information market participants possess at any point in time and how quickly they learn—in other words, the information structure of the model—is a distinguishing feature of the different macroeconomic systems discussed. With reference to the classical, Keynesian, monetarist, and new classical models, explain the differing assumptions about the information that market participants possess and the degree to which these differing assumptions account for the different policy conclusions derived from these models.



May 18, 2022
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