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Although consistent with expectations, data showing distinct populations based on assignment or summary statistics can be interpreted in multiple ways.
The information in expectations data is not subsumed by traditional variables, such as Tobin's Q or discount rates.
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.
This paper provides a critical review and new analysis of subjective expectations data from developing countries and refutes each of these concerns.
I use subjective expectations data on future asset returns from the Italian Survey of Household Income and Wealth to validate widely used financial literacy questions.
The available evidence suggests that collecting expectations data is both feasible and valuable, suggesting that it should be incorporated into more developing country surveys.
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Expectations and decisions One of the main purposes of collecting subjective expectation data is to help understand behavior.
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.
In his seminal paper Manski (2004) strongly advocated for collecting self reported expectation data and using those jointly with observed choice data.
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.
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