𝔖 Bobbio Scriptorium
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Stochastic mean values, rational expectations, and price movements

✍ Scribed by Sjur Didrik Flåm; Charles Horvath


Book ID
117333360
Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
62 KB
Volume
61
Category
Article
ISSN
0165-1765

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Price determination and rational expecta
✍ Thorarinn G. Petursson 📂 Article 📅 1998 🏛 John Wiley and Sons 🌐 English ⚖ 185 KB

A forward looking specification of the error correction model is estimated for Icelandic inflation for the period 1962 -1993. Our results are consistent with the view that prices are set by rational, forward looking firms, reacting to expected future innovations in production costs. The forward mode