Long-run expectations in a learning-to-forecast experiment: A Simulation Approach
Ver/ Abrir
Impacto
Scholar |
Otros documentos de la autoría: Colasante, Annarita; Alfarano, Simone; Camacho Cuena, Eva; Gallegati, Mauro
Metadatos
Mostrar el registro completo del ítemcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadatos
Título
Long-run expectations in a learning-to-forecast experiment: A Simulation ApproachFecha de publicación
2017Editor
Taylor & FrancisISSN
1350-4851; 1466-4291Cita bibliográfica
COLASANTE, Annarita, et al. Long-run expectations in a learning-to-forecast experiment. Applied Economics Letters, 2017, p. 1-7Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
http://www.tandfonline.com/doi/abs/10.1080/13504851.2017.1355537Versión
info:eu-repo/semantics/submittedVersionPalabras clave / Materias
Resumen
We conduct a Learning to Forecast Experiment using a novel setting in which we elicit subjects’ short- and long-run expectations on the future price of an asset. We find that: (i) the rational expectations equilibrium ... [+]
We conduct a Learning to Forecast Experiment using a novel setting in which we elicit subjects’ short- and long-run expectations on the future price of an asset. We find that: (i) the rational expectations equilibrium is not a meaningful description for the whole time spectrum of subjects’ expectations; (ii) they are, instead, better described by an anchor-and-adjustment learning scheme; (iii) subjects exhibit a higher degree of heterogeneity in their long-run expectations vis-à-vis short-run expectations. [-]
Publicado en
Applied Economics Letters, 2017, p. 1-7Proyecto de investigación
European Union Seventh Framework Programme (FP7-2007-2013) under the grant agreement no. [619255]; niversitat Jaume I / P11B2015-63; Spanish Ministry of Economics and Competition / ECO2015-68469-RDerechos de acceso
© Taylor & Francis Group,
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- ECO_Articles [692]