caa a22 4500 463158423 CHVBK 20180406164740.0 cr unu---uuuuu 170326e20071201xx s 000 0 eng 10.1007/s10258-007-0020-2 doi (NATIONALLICENCE)springer-10.1007/s10258-007-0020-2 Rankin Neil Department of Economics, University of Warwick, CV4 7AL, Coventry, UK aut Imperfect competition and the modelling of expectations in macroeconomics [Elektronische Daten] [Neil Rankin] We show that when a model of the macroeconomy is based on imperfect, rather than perfect, competition, this may increase the problem of how to model agents' expectations. We provide a simple example using an overlapping-generations economy with the potential for unemployment. Under certain assumptions about how consumers migrate between locations between the first and second periods of their lives, this extra issue regarding expectations arises. Imperfect competition may increase agents' forecasting difficulties because they have to forecast not only future equilibrium prices, but also future out-of-equilibrium prices, and by definition the latter are never actually observed. Springer-Verlag, 2007 Imperfect competition nationallicence Macroeconomics nationallicence Rationality of expectations nationallicence Portuguese Economic Journal Springer-Verlag 6/3(2007-12-01), 133-150 1617-982X 6:3<133 2007 6 10258 https://doi.org/10.1007/s10258-007-0020-2 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10258-007-0020-2 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Rankin Neil Department of Economics, University of Warwick, CV4 7AL, Coventry, UK aut NATIONALLICENCE 773 0- Portuguese Economic Journal Springer-Verlag 6/3(2007-12-01), 133-150 1617-982X 6:3<133 2007 6 10258 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer