التفاصيل البيبلوغرافية
| العنوان: |
Using survey data of inflation expectations in the estimation of learning and rational expectations models |
| المؤلفون: |
Ormeño, Arturo, Molnár, Krisztina |
| بيانات النشر: |
Norwegian School of Economics. Department of Economics |
| سنة النشر: |
2014 |
| المجموعة: |
NHH Brage Norges Handelshøyskole |
| مصطلحات موضوعية: |
VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212, survey data, learning, rational expectations, inflation expectations, Bayesian econometrics, C611, D84, E30, E52 |
| الوصف: |
Does survey data contain useful information for estimating macroeconomic models? We address this question by using survey data of inflation expectations to estimate the New Keynesian model by Smets and Wouters (2007) and compare its performance under rational expectations and adaptive learning. The survey information serves as an additional moment restriction and helps us to determine the learning agents’ forecasting model for inflation. Adaptive learning fares similarly to rational expectations in fitting macro data, but clearly outperforms rational expectations in fitting macro and survey data simultaneously. In other words survey data contains additional information that is not present in the macro data alone. |
| نوع الوثيقة: |
report |
| وصف الملف: |
application/pdf |
| اللغة: |
English |
| تدمد: |
0804-6824 |
| العلاقة: |
Discussion paper;20/2014; urn:issn:0804-6824; http://hdl.handle.net/11250/196296Test |
| الإتاحة: |
http://hdl.handle.net/11250/196296Test |
| رقم الانضمام: |
edsbas.B72D81D6 |
| قاعدة البيانات: |
BASE |
