Template-Type: ReDIF-Article 1.0
Author-Name: Guido Tortorella Esposito
Author-Email:
Author-Workplace-Name: Università degli Studi di Firenze - Dottorato di ricerca in Storia delle Dottrine Economiche
Title: Il dibattito sulla teoria delle aspettative in Italia (1960-1990)
(The debate on the theory of expectation in Italy (1960-1990))
Abstract: This paper aims at offering a host of Italian economists’ contributions on adaptive and rational
expectations, published between 1960 and 1990, distinguished according to two different criteria: a) a first criterion considers the two kinds of expectations from the epistemological point of
view, concluding that the theoretical differences between Monetarism and New Classical
Macroeconomics (n m c) depend on different approaches to the calculation of expectations; b)
according to the second criterion, both adaptive expectation and rational expectation are ad hoc
hypotheses, employed respectively by Monetarists and by the n m c School in order to restore
the primacy of the Walrasian general economic equilibrium approach over Keynesian economics on the explanation of the economic system and of its cycles. According to this interpretation,
the rational expectation could be considered as a hypothesis constructed with a view to
supporting the theoretical conclusions of the Monetarist School both in the short period and in
the long one.
Classification-JEL: B29, D84
Keywords: Aspettativa adattiva; aspettativa razionale; economisti italiani (Adaptive expectation; rational expectation; Italian economist) 
Journal: Il Pensiero Economico Italiano
Pages: 57-79
Volume: 11
Issue: 2
Year: 2003
File-URL: http://www.libraweb.net/articoli.php?chiave=200306302&rivista=63
Handle: RePEc:pei:journl:v:11:y:2003:2:3:p:57-79