Statements (18)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:appliesTo |
Phillips Curve
|
| gptkbp:assumes |
Expectations adjust gradually to errors in previous expectations
|
| gptkbp:contrastsWith |
gptkb:Rational_Expectations
|
| gptkbp:criticizedFor |
Ignoring forward-looking behavior
|
| gptkbp:describes |
How agents form expectations based on past events
|
| gptkbp:form |
E_{t}(x_{t+1}) = E_{t-1}(x_{t}) + eta(x_{t} - E_{t-1}(x_{t}))
|
| https://www.w3.org/2000/01/rdf-schema#label |
Adaptive Expectations
|
| gptkbp:period |
1950s
1960s |
| gptkbp:popularizedBy |
gptkb:Milton_Friedman
Phillip Cagan |
| gptkbp:proposedBy |
gptkb:Irving_Fisher
|
| gptkbp:usedIn |
gptkb:Monetary_Economics
gptkb:Macroeconomics Inflation Modeling |
| gptkbp:bfsParent |
gptkb:Rational_Expectations
|
| gptkbp:bfsLayer |
7
|