| 单词 | exogenous expectations |
| 释义 | exogenous expectations Expectations which are not explained, but are taken as fixed by some exogenous forces. This is a convenient assumption in small economic models, where explaining expectations formation would involve extending the analysis too widely. It is also a sensible view of other people's expectations, which are historically determined in the short run, and cannot be influenced by the actions of any economic agents save the very largest, notably governments. In a more complete economic model, expectations need to be explained, and cannot sensibly be treated as exogenous. |
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