"Under perfect foresight (rational expectations), a regime of sequential loan markets and spot markets in labor services also supports the optimal solution as a competitive equilibrium."

Quote Details

Added by wikiquote-import-bot
Added on April 10, 2026
Unverified quote
0 likes
Economics
Original Language: English

Sources

Robert G. King, Charles I. Plosser, and Sergio T. Rebelo. "Production, growth and business cycles: I. The basic neoclassical model." Journal of monetary Economics 21.2 (1988): 195-232.