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Estimating a nonlinear rational expectations commodity price model with unobs...
This paper is concerned with the estimation of a model in which a possibly serially correlated stochastic process, the harvest of an agricultural commodity, generates a... -
Estimating the LQAC model with I(2) variables (replication data)
This paper derives a method for estimating and testing the Linear Quadratic Adjustment Cost (LQAC) model when the target variable and some of the forcing variables follow I(2)... -
How quickly do forecasters incorporate news? Evidence from cross-country surv...
Using forecasts from Consensus Economics Inc., we provide evidence on the efficiency of real GDP growth forecasts by testing whether forecast revisions are uncorrelated. As the... -
Binary choice under social interactions: an empirical study with and without ...
This paper examines two methods of modeling binary choice with social interactions: models assuming homogeneous rational expectations and models using subjective data on...
