Marc Ivaldi
A Structural Analysis of Expectation Formation
Based on Business Surveys of French Manufacturing Industry
Paperback Engels 1991 9783540536659Levertijd ongeveer 9 werkdagen
Gratis verzonden
Samenvatting
Using panel data of individual firms drawn from French surveys, a structural analysis is developed to study the formation of production plans and the rationality of expectations. The production decision of a firm is defined as the optimal solution of a dynamic stochastic optimization problem. The empirical work amounts to recovering the structural parameters characterizing the model of the firm from estimates of the derived decision rule. The preceding analysis of production plans is based on the assumption that firms are rational. To justify this assumption, direct tests offer evidence that the Rational Expectations Hypothesis may not be rejected for quantity variables.
Specificaties
ISBN13:9783540536659
Taal:Engels
Bindwijze:Paperback
Aantal pagina's:230
Uitgever:Springer Berlin Heidelberg
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