Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19063
Full metadata record
DC FieldValueLanguage
dc.contributor.authorPesaran, Mohammad Hashemen_US
dc.contributor.authorWeale, Martin R.en_US
dc.date.accessioned2009-01-28T15:54:47Z-
dc.date.available2009-01-28T15:54:47Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/19063-
dc.description.abstractThis paper focuses on survey expectations and discusses their uses for testing and modeling ofexpectations. Alternative models of expectations formation are reviewed and the importanceof allowing for heterogeneity of expectations is emphasized. A weak form of the rationalexpectations hypothesis which focuses on average expectations rather than individualexpectations is advanced. Other models of expectations formation, such as the adaptiveexpectations hypothesis, are briefly discussed. Testable implications of rational andextrapolative models of expectations are reviewed and the importance of the loss function forthe interpretation of the test results is discussed. The paper then provides an account of thevarious surveys of expectations, reviews alternative methods of quantifying the qualitativesurveys, and discusses the use of aggregate and individual survey responses in the analysis ofexpectations and for forecasting.en_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunich-
dc.relation.ispartofseries|aCESifo working papers |x1599en_US
dc.subject.jelC53en_US
dc.subject.jelC50en_US
dc.subject.jelC40en_US
dc.subject.jelC80en_US
dc.subject.ddc330en_US
dc.subject.keywordmodels of expectations formationen_US
dc.subject.keywordsurvey dataen_US
dc.subject.keywordheterogeneityen_US
dc.subject.keywordtests of rational expectationsen_US
dc.subject.stwRationale Erwartungen_US
dc.subject.stwErwartungstheorieen_US
dc.titleSurvey expectationsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn503765929en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

Files in This Item:
File
Size
497.72 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.