eBook A Rational Expectations Approach to Macroeconometrics: Testing Policy Ineffectiveness and Efficient-Markets Models (National Bureau of Economic Research Monograph) download
by Frederic S. Mishkin
Author: Frederic S. Mishkin
Publisher: University of Chicago Press; New edition edition (January 1, 1986)
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Subcategory: Business and Finance
In this book, the author pursues a rational expectations approach to the estimation of a class of models widely discussed in the . Paperback: 179 pages.
Mishkin first theoretically develops and discusses a unified econometric treatment of these models and then shows how to estimate them with an annotated computer program.
Front matter, A Rational Expectations Approach to Macroeconometrics: Testing Policy Ineffectiveness and Efficient-Markets Models. p. -13 - 0) (bibliographic info) (download). 1. Introduction to "A Rational Expectations Approach to Macroeconomics: Testing Policy Ineffectiveness and Efficient-Markets Models". 1 - 6) (bibliographic info) (download). 5. Monetary Policy and Interest Rates: An Efficient Markets-Rational Expectations Approach. 76 - 109) (bibliographic info) (download).
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Mishkin, Frederic S. Publication Information: Chicago: The University of Chicago Press, 1983.
Chapter in NBER book A Rational Expectations Approach to Macroeconomics: Testing Policy .
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Market efficiency tests indicate that the market severely punishes firms with suboptimal decreases in cash, but we find no evidence . A principal argument in the rational expectations literature is the optimality of predictable policy
Market efficiency tests indicate that the market severely punishes firms with suboptimal decreases in cash, but we find no evidence to support the hubris hypothesis that the market overreacts to the earnings implications of unwarranted increases in cash. A principal argument in the rational expectations literature is the optimality of predictable policy. This paper illustrates that this claim does not hold in a world of parametric uncertainty for two reasons: (1) completely noiseless policy may lead to non-convergence to the true model parameters; (2) highly predictable policy is not very informative about the structure of the model
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A Rational Expectations Approach to ~acroeconornetrics. Testing Policy Ineffectiveness and Efficient-Markets Models Frederic S. The University of Chicago Press. The opening chapter of Part 1 describes the models to be analyzed in this book and discusses the details of their estimation.
Frederic S. Mishkin, 1983. Handle: RePEc:nbr:nberbk:mish83-1.
5. Monetary Policy and Interest Rates: An Efficient Markets-Rational Expectations Approach Appendix . Estimates of the Forecasting Equations Appendix . Additional Experiments Using the Two-Step Procedure. 6. Does Anticipated Aggregate Demand Policy Matter?