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expectations


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The forecast or the view of economic agents about the future values of economic variables. Expectations are important in the analysis of economic behaviour as they influence the choices of economic agents. Through these choices expectations affect the time path of an economy, and the time path, in its turn, may affect the expectations of the agents. See also adaptive expectations; exogenous expectations; extrapolative expectations; rational expectations; self-fulfilling expectations.

Subjects: Social Sciences.


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