المستودع الأكاديمي جامعة المدينة

The rationality and reliability of expectations reported by British households: micro evidence from the British household panel survey

أعرض تسجيلة المادة بشكل مبسط

dc.creator Mitchell, James
dc.creator Weale, Martin R.
dc.date 2007
dc.date.accessioned 2013-10-16T07:06:21Z
dc.date.available 2013-10-16T07:06:21Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19696
dc.identifier ppn:543474690
dc.identifier RePEc:zbw:bubdp1:6140
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19696
dc.description This paper assesses the accuracy of individuals' expectations of their financial circumstances, as reported in the British Household Panel Survey, as predictors of outcomes and identifies what factors influence their reliability. As the data are qualitative bivariate ordered probit models, appropriately identified, are estimated to draw out the differential effect of information on expectations and realisations. Rationality is then tested and we seek to explain deviations of realisations from expectations at a micro-economic level, possibly with reference to macroeconomic shocks. A bivariate regime-switching ordered probit model, distinguishing between states of rationality and irrationality, is then estimated to identify whether individual characteristics affect the probability of an individual using some alternative model to rationality to form their expectations.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2007,19
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject D84
dc.subject D19
dc.subject ddc:330
dc.subject household behaviour
dc.subject expectation formation
dc.subject Rationale Erwartung
dc.subject Einkommen
dc.subject Schock
dc.subject Probit-Modell
dc.subject Großbritannien
dc.title The rationality and reliability of expectations reported by British households: micro evidence from the British household panel survey
dc.type doc-type:workingPaper
dc.coverage 1991-2003


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط