Suggestions(2)
Exact(14)
For a detailed exposition of using survey expectation data for testing models of expectation formation see Pesaran and Weale (2006).
Furthermore, the EABSDC uses different macroeconomic aggregates to identify recession phases; however, we use expectation data about the economic activity.
Expectations and decisions One of the main purposes of collecting subjective expectation data is to help understand behavior.
In his seminal paper Manski (2004) strongly advocated for collecting self reported expectation data and using those jointly with observed choice data.
The debate had George Katona2 as the leading proponent of qualitative attitudinal questions vs. Thomas Juster who did not find them useful in predicting behavior.3 This debate would have left economists suspicious of any expectation data for a while.
The expectation data correspond to beliefs held at the time of the interview, while the expenditure data refer to purchases during the last 12 months, which is a good timing approximation, specially for durables.
Similar(46)
BEIJING — China's annual industrial output rose 10.4 percent in August, beating market expectations, data released Tuesday showed, pushing stocks to a three-month high amid other positive reports.
Section 3 contains the analysis of the house price expectations data in the EFF.
Testing for rational expectations There has been work with individual expectations data testing models of the way expectations are formed and in particular testing for rational expectations.
In fact, Dominitz and Manski (1997, 2004) blame the early use of verbal expectations for the economists' distrust of expectations data.
This paper provides a critical review and new analysis of subjective expectations data from developing countries and refutes each of these concerns.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.
Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com