The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations
We estimate a simple reduced-form model of expectation formation with three distinct deviations from full-information rational expectations that combines underreaction with overreaction to new information. In particular, forecasts are sticky, extrapolate the most recent news about the current period...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Dokumenttyp: | Article (Journal) |
| Sprache: | Englisch |
| Veröffentlicht: |
11 March 2023
|
| In: |
Journal of economic dynamics & control
Year: 2023, Jahrgang: 149, Pages: 1-21 |
| ISSN: | 0165-1889 |
| DOI: | 10.1016/j.jedc.2023.104638 |
| Online-Zugang: | Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1016/j.jedc.2023.104638 Verlag, lizenzpflichtig, Volltext: https://www.sciencedirect.com/science/article/pii/S0165188923000441 
|
| Verfasserangaben: | Tim Hagenhoff, Joep Lustenhouwer |
Search Result 1