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  • Heterogeneous beliefs and instability 

    Lasselle, Laurence; Svizzero, Serge; Tisdell, Clem (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
    While Rational Expectations have dominated the paradigm of expectations formation, they have been more recently challenged on the empirical ground such as, for instance, in the dynamics of the exchange rate. This challenge ...