Remembering the Man Behind Rational Expectations

5 Pages Posted: 28 Apr 2006

Abstract

Few ideas have had as much of an effect on the science of economics as the concept of rational expectations. This elementary notion, first formulated by the economist John Muth, ultimately upended four decades of Keynesian macroeconomics and monetary policy. Despite the impact of Muth's idea, the honor and glory ultimately accorded by the profession skipped by him with barely a nod in his direction. John Muth passed away last October 25th at the age of 75.

Keywords: John Muth, Keynesian economics, Robert Lucas, Econometrica, biography, in memoriam, macro economics, montetary policy

JEL Classification: N1, N10

Suggested Citation

Brannon, Ike, Remembering the Man Behind Rational Expectations. Regulation, Vol. 29, No. 1, pp. 18-22, Spring 2006. Available at SSRN: https://ssrn.com/abstract=898197

Ike Brannon (Contact Author)

United States Congress ( email )

Washington, DC 20515
United States

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