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frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many … previously unexploited monthly and real-time measures of inflation expectations. These higher frequency measures tend to … outperform the standard three low frequency survey measures in tests of accuracy, predictive power, and rationality, indicating …
Persistent link: https://www.econbiz.de/10009647457
This work is a PhD dissertation, written at the Department of Economics, McGill University. The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of...
Persistent link: https://www.econbiz.de/10005789620
Some sensations, in addition to guide behavior, serve an extra and even more important role: as warning or defense mechanisms (e.g. pain, fever). Additionally, intense sensations are costly from a fitness point of view. With only these two biological facts we show that Nature must design utility...
Persistent link: https://www.econbiz.de/10008587815
The paper revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann’s idiosyncratic (read: eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1)...
Persistent link: https://www.econbiz.de/10005617120
real networks. A second aim is to introduce the adaptive interactive expectations (AIE) model, which uses a ‘pressure to … change profit expectations index’ to replace the utility curve maximising agent concept. The AIE model has an interactive … expectations network, which is difficult to determine, so suitable to illustrate network averaging. The AIE model is tested against …
Persistent link: https://www.econbiz.de/10011257744
to emancipate. For women, the marginal e¤ect of having a partner is three times larger than that of working. Expectations …. Moreover, partnered respondents� expectations about living with their partner and about their employed partners losing their …
Persistent link: https://www.econbiz.de/10005836332
The paper compares different procedures to convert in ordinary quantitative indicators the results of qualitative tendency surveys. The main result is that different procedures tend to produce quantitative indicators with a very similar dynamics. A new quantification method based on the...
Persistent link: https://www.econbiz.de/10009418490
learn, form their expectations, and make decisions regarding savings and production for future periods. There are no … are unexpected by agents, or if future price expectations are not adjusted exactly proportionally to the announced …, as that would require it knowing precisely the actual law of motion of the economy, current market’s expectations, and …
Persistent link: https://www.econbiz.de/10011259238
The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper … builds upon adaptive expectations, interactive expectations and small world networks, combining them into a single adaptive … interactive profit expectations model (AIE). Understanding the diffusion of interactive expectations is aided by using a network …
Persistent link: https://www.econbiz.de/10011259382
The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper … builds upon adaptive expectations, interactive expectations and small world networks, combining them into a single adaptive … interactive profit expectations model (AIE). Understanding the diffusion of interactive expectations is aided by using a network …
Persistent link: https://www.econbiz.de/10011260058