Lecture Notes in Economic and Mathematic Are Policy Variables Exogenous?: The Econometric Implications of Learning While Maximizing, Book 364, (Paperback)

This book demonstrates that Bayesian learning by rational policymakers affects the exogeneity status of policy variables in econometric models by creating an intertemporal informational feedback. This phenomenon is empirically detectable using exogeneity tests. This makes the book relevant for empirical, as well as theoretical econometricians.