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    • Adaptive Expectations, Underparameterization and the Lucas Critique 

      Evans, George W., 1949-; Ramey, Garey (University of Oregon, Dept. of Economics, 2001-11-29)
      A striking implication of the replacement of adaptive expectations by Rational Expectations was the "Lucas Critique," which showed that expectation parameters, and endogenous variable dynamics, depend on policy parameters. ...