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Showing 1 to 20 of 67 for “"Rational expectations"”.
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On rational expectations and dynamic games
… problem of uniting dynamic game theory and the rational expectations hypothesis. In doing so we examine the current trend in macroeconomic literature towards the use of dominant player games and offer an alternative game solution that seems more compatible with the rational expectations …
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Analysts' forecast as rational expectations of company earnings
Includes bibliographical references (leaves 119-125).
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Rational expectations and the structure of interest rates.
Massachusetts Institute of Technology. Dept. of Economics. Thesis. 1972. Ph.D.
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Essays on the theory of rational expectations equilibrium
Thesis (Ph.D.)--Massachusetts Institute of Technology, Dept. of Economics, 1982.
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Rational expectations, money announcements, and the bond market
… that the natural rate hypothesis combined with rational expectations eradicates the standard effects of monetary policy, unless the central monetary authority holds an information advantage over the general public. In defining rational expectations, John Muth wrote that "public predictions" or …
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Rational Expectations and the Determination of the Forward Rate
Made available in DSpace on 2014-12-14T06:06:07Z (GMT). No. of bitstreams: 1 7913383.pdf: 4105196 bytes, checksum: be9f958459664a04fad7511af709ca7a (MD5) Previous issue date: 1978
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A Rational Expectations Equilibrium Model Of A Small, Specialized Economy
In this thesis, a rational expectations equilibrium model of the business cycle in a small, open, specialized economy is formulated and tested. The business cycle is as much a fact in small developing economies as in large industrialized ones. Much recent work on business cycles in closed economies …
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A dynamic model of the U.S. cotton market with rational expectations
<p>This study presents a dynamic rational expectations model for the U.S. cotton market. The dynamic decision rules are derived from the cotton farmer and miller optimization problems; and the equilibrium movements of prices, production, land allocation, and mill consumption are solved …
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Cagan Type Rational Expectations Model on Time Scales with Their Applications to Economics
<p>Rational expectations provide people or economic agents making future decision with available information and past experiences. The first approach to the idea of rational expectations was given approximately fifty years ago by John F. Muth. Many models in economics have been studied using the …
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Rational Expectations, Supply Effect, and Stock Price Adjustment Process: A Simultaneous Equations System Approach
The capital asset pricing model of Sharpe (1964), Lintner (1965), and Mossin (1966) is a single-period equilibrium analysis in which the behavior of security demand, conditional upon a postulated probability distribution of returns, is examined. Thus the model is too restrictive in its omission of …
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PPP, UIP and Fisher parity: speculation or rational expectations? Evidence for four Latin American countries
… Chile, Mexico and Brazil. The first model is the rational expectation hypothesis (REH) where three key relations will be tested: Purchasing Power Parity (PPP), Uncovered Interest Rate Parity (UIP) and the Fisher Parity condition. The second model follows the line of thought of Imperfect Knowledge …
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Thesis on implementation under ambiguity
… a noncooperative foundation for individually rational and maximin efficient notions, for example, maximin core and maximin value allocation. Specifically, we show that given any arbitrary individually rational and ex-ante maximin efficient allocation, there is a direct revelation mechanism …
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A Study of the Stochastic Behavior of Durable Goods Consumption
… behavior of durables consumption in the rational expectations/permanent income hypothesis framework. The testing in this paper parallels the studies conducted by other researchers, who basing their work mainly on quarterly data rejected the frictionless rational expectations/permanent …
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METHODOLOGICAL ISSUES IN MONETARY ECONOMICS
… microeconomic research program, as is the rational expectations hypothesis. At the macroeconomic level, there are competing Keynesian and conservative programs. The latter contains monetarism as a constituent set of theories.</p><p>Methodological and policy-related debates reflect …
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RESOURCE USE RATES: ESTIMATION OF TIME INVARIANT DECISION RULES (EROSION)
… a supply response model which assumes rational expectations. It can be characterized as a dynamic optimal control model with feedback from decisions to states. Three Stage Least Squares estimation is re-interpreted to fit the requirements of rational expectations. The estimated …
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Empirical study of new Keynesian model using cointegrated VAR : what New Zealand data tell us
Econometric analysis of rational expectations models has been a widely studied topic in the macro-econometric literature. This thesis looks in particular at evaluating Neokeynesian model (NKM) with respect to its conformity with the data. Among the available econometric techniques, this thesis …
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Essay on beliefs and the macroeconomy
… The first essay explores a form of bounded rationality where agents learn about the economy with possibly misspecified models. I consider a recursive general-equilibrium framework that nests a large class of macroeconomic models. Misspecification is represented as a constraint on the set of …
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An econometric model of the world shipping markets
… second hand ships as well as in the treatment of expectations. Chapter 3 presents a 'new' theoretical model of the behaviour of shipping markets that attempts to remedy these defects. Novel features of this theory are the assumption of 'rational expectations' in shipping markets as well as the …
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An empirical comparison of autoregressive and rational models of price expectations
… process by which economic individuals may form expectations of future inflation. Three empirical representations of the inflation expectations process are tested: an autoregressive model which uses only past inflation data; a rational expectations model which utilizes the structural economic …
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Essays on Microeconomics with Incomplete Information
… Chapter 1 focuses on the existence of rational bubbles in an Allen-Morris-Postlewaite: 1993) setting, and finds positive and negative results for bubbles in an asset market featuring rational expectations equilibrium. An expected bubble is said to exist if it is mutual knowledge that …
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