EconStor >
Cardiff University >
Cardiff Business School, Cardiff University >
Cardiff Economics Working Papers, Cardiff Business School, Cardiff University >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/65837
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorLiu, Chunpingen_US
dc.contributor.authorMinford, Patricken_US
dc.date.accessioned2012-09-19en_US
dc.date.accessioned2012-11-02T14:29:56Z-
dc.date.available2012-11-02T14:29:56Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/65837-
dc.description.abstractThe banking crisis has caused a resurgence of interest in behavioural models of expectations in macroeconomics. Here we evaluate behavioural and rational expectations econometrically in a New Keynesian framework, using US post-war data and the method of indirect inference. We find that after full re-estimation the model with behavioural expectations is strongly rejected by the data, whereas the standard rational expectations version passes the tests by a substantial margin.en_US
dc.language.isoengen_US
dc.publisherCardiff University, Cardiff Business School Cardiffen_US
dc.relation.ispartofseriesCardiff Economics Working Papers E2012/21en_US
dc.subject.ddc330en_US
dc.subject.keywordbehavioural expectationen_US
dc.subject.keywordrational expectationen_US
dc.subject.keywordbank crisisen_US
dc.subject.keywordindirect inferenceen_US
dc.titleComparing behavioural and rational expectations for the US post-war economyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn726102881en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Cardiff Economics Working Papers, Cardiff Business School, Cardiff University

Files in This Item:
File Description SizeFormat
726102881.pdf1.06 MBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

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