Expectations and Their Role in the Economy

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dc.contributor.authorChagirov Dauren
dc.date.accessioned2025-10-22T09:29:57Z
dc.date.available2025-10-22T09:29:57Z
dc.date.issued2007
dc.description.abstractExpectations play a fundamental role in shaping economic behavior and outcomes. Since individuals and businesses cannot predict the future with certainty, they form expectations regarding future prices, income, investment returns, and government policies. These expectations influence consumption, saving, investment, and policy effectiveness. The paper explores the economic significance of expectations through three main dimensions: consumption and expectations, investment and expectations, and the role of expectations in public policy. Theories by Milton Friedman and Franco Modigliani are discussed, emphasizing the permanent income and life-cycle hypotheses, as well as the concept of rational expectations introduced by John F. Muth. The analysis shows that economic outcomes often depend on how individuals and firms interpret and react to information about the future, highlighting that accurate and stable expectations are crucial for achieving sustainable growth and effective macroeconomic policy.
dc.identifier.citationChagirov Dauren /Expectations and Their Role in the Economy / Articles and proceedings of the scientific conference among university students " Development and future of the science in Kazakhstan in the opinion of youth" , ISBN: 9965-792-25-9 , Suleyman Demirel University / 177 -183 pages.
dc.identifier.urihttps://repository.sdu.edu.kz/handle/123456789/2103
dc.language.isoen
dc.publisherSuleyman Demirel University
dc.rightsAttribution-NonCommercial-ShareAlike 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/4.0/
dc.subjectexpectations
dc.subjectrational expectations
dc.subjectinvestment
dc.subjectpermanent income hypothesis
dc.subjecteconomic behavior
dc.subjectpublic policy
dc.titleExpectations and Their Role in the Economy
dc.typeArticle

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Articles and Proceedings of the scientific conference among University students "Development and future of the science in Kazakhstan in the opinion of youth"