Information Rigidities
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Information Rigidity And The Expectations Formation Process
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Author : Mr.Olivier Coibion
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-20
Information Rigidity And The Expectations Formation Process written by Mr.Olivier Coibion and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-20 with Business & Economics categories.
We propose a new approach to test the full-information rational expectations hypothesis which can identify whether rejections of the arise from information rigidities. This approach quantifies the economic significance of departures from the and the underlying degree of information rigidity. Applying this approach to U.S. and international data of professional forecasters and other agents yields pervasive evidence consistent with the presence of information rigidities. These results therefore provide a set of stylized facts which can be used to calibrate imperfect information models. Finally, we document evidence of state-dependence in the expectations formation process.
Information Rigidities
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Author : Jonas Dovern
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-12
Information Rigidities written by Jonas Dovern and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-12 with Business & Economics categories.
We study forecasts for real GDP growth using a large panel of individual forecasts from 36 advanced and emerging economies during 1989–2010. We show that the degree of information rigidity in average forecasts is substantially higher than that in individual forecasts. Individual level forecasts are updated quite frequently, a behavior more in line “noisy” information models (Woodford, 2002; Sims, 2003) than with the assumptions of the sticky information model (Mankiw and Reis, 2002). While there are cross-country variations in information rigidity, there is no systematic difference between advanced and emerging economies.
Information Rigidity And The Expectations Formation Process A Simple Framework And New Facts
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Author :
language : en
Publisher:
Release Date : 2010
Information Rigidity And The Expectations Formation Process A Simple Framework And New Facts written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Information Rigidities In Economic Growth Forecasts
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Author : Jonas Dovern
language : en
Publisher: International Monetary Fund
Release Date : 2013-02-27
Information Rigidities In Economic Growth Forecasts written by Jonas Dovern and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-27 with Business & Economics categories.
We examine the behavior of forecasts for real GDP growth using a large panel of individual forecasts from 30 advanced and emerging economies during 1989–2010. Our main findings are as follows. First, our evidence does not support the validity of the sticky information model (Mankiw and Reis, 2002) for describing the dynamics of professional growth forecasts. Instead, the empirical evidence is more in line with implications of "noisy" information models (Woodford, 2002; Sims, 2003). Second, we find that information rigidities are more pronounced in emerging economies than advanced economies. Third, there is evidence of nonlinearities in forecast smoothing. It is less pronounced in the tails of the distribution of individual forecast revisions than in the central part of the distribution.
Information Rigidity In Growth Forecasts
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Author : Ms.Natalia T. Tamirisa
language : en
Publisher: International Monetary Fund
Release Date : 2011-06-01
Information Rigidity In Growth Forecasts written by Ms.Natalia T. Tamirisa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-01 with Business & Economics categories.
We document information rigidity in forecasts for real GDP growth in 46 countries over the past two decades. We investigate: (i) if rigidities are lower around turning points in the economy, such as in times of recessions and crises; (ii) if rigidities differ across countries, particularly between advanced countries and emerging markets; and (iii) how quickly forecasters incorporate news about growth in other countries into their growth forecasts, with a focus on how advanced countries‘ growth forecasts incorporate news about emerging market growth and vice versa.
Information Rigidities In Economic Growth Forecasts
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Author : Jonas Dovern
language : en
Publisher: International Monetary Fund
Release Date : 2013-02-27
Information Rigidities In Economic Growth Forecasts written by Jonas Dovern and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-27 with Business & Economics categories.
We examine the behavior of forecasts for real GDP growth using a large panel of individual forecasts from 30 advanced and emerging economies during 1989–2010. Our main findings are as follows. First, our evidence does not support the validity of the sticky information model (Mankiw and Reis, 2002) for describing the dynamics of professional growth forecasts. Instead, the empirical evidence is more in line with implications of "noisy" information models (Woodford, 2002; Sims, 2003). Second, we find that information rigidities are more pronounced in emerging economies than advanced economies. Third, there is evidence of nonlinearities in forecast smoothing. It is less pronounced in the tails of the distribution of individual forecast revisions than in the central part of the distribution.
Information Rigidity And The Expectations Formation Process
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Author : Mr.Olivier Coibion
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-20
Information Rigidity And The Expectations Formation Process written by Mr.Olivier Coibion and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-20 with Business & Economics categories.
We propose a new approach to test the full-information rational expectations hypothesis which can identify whether rejections of the arise from information rigidities. This approach quantifies the economic significance of departures from the and the underlying degree of information rigidity. Applying this approach to U.S. and international data of professional forecasters and other agents yields pervasive evidence consistent with the presence of information rigidities. These results therefore provide a set of stylized facts which can be used to calibrate imperfect information models. Finally, we document evidence of state-dependence in the expectations formation process.
New Keynesian Economics Coordination Failures And Real Rigidities
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Author : N. Gregory Mankiw
language : en
Publisher: MIT Press
Release Date : 1991
New Keynesian Economics Coordination Failures And Real Rigidities written by N. Gregory Mankiw and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
New keynesian economics/ed. by N. Gregory Mankiw.-v.1
The Rigidity Of Choice
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Author : Antonella Tutino
language : en
Publisher:
Release Date : 2008
The Rigidity Of Choice written by Antonella Tutino and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Threat Rigidity Hypothesis
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Author : Manfred Hammerl
language : en
Publisher: GRIN Verlag
Release Date : 2008-07-17
Threat Rigidity Hypothesis written by Manfred Hammerl and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-17 with Business & Economics categories.
Seminar paper from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 2, University of Graz (Institut für Technologie- und Innovationsmanagement), course: Seminar Ausgewählte Aspekte des Innovationsmanagements, language: English, abstract: For economists (and also sociologists or psychologists) – no matter if they are students, practitioners or researchers – the behavior of individuals, groups or entire organizations (e. g. companies) under special circumstances like threat, adversity or radical environmental change is an important issue. For researchers to find underlying principles of behavior under threat and for practitioners to learn some basic rules for behaving in changing environments. Imagine a winter in our alps without any snow. There have always been times with less snow. In such case snow making machines did their job and sprinkled the slope with artificial snow. The lesser snow the more snow making machines was the easy calculus in past years. So will there be an even larger number of snow making machines on the slopes if there is absolutely no snow due to global warming and the upcoming climate crisis? Or will there some alternatives be developed? According to an recent article in DerStandard (16. december 2006, p. 2), wintertourism has to change its face, additional offers have to be presented, away form ski and snowboard toward wellness, mountain biking or hiking. So what will entrepreneurs in skiing resorts do? Will the rely on well-learned behavior and put another snow making machine beside the slope, or will they consider alternatives? There are numerous studies treating behavior under threat or radical change of environmental conditions. Six papers – among them the basic paper for this work, Staw et al’s1 analysis of threat-rigidity effects in organizational behavior – will subsequently be examined with regard to consistencies or contradictions. As already mentioned, Staw et al’s paper will be regarded as the basis for this seminar paper, as it points out most clearly threat-rigidity effects at different levels of analysis. Moreover it is 1.) the oldest reviewed article and seems to have some influence on threat-rigidity research in recent decades and 2.) represents a comprehensive literature review in contrast to the other – mainly empirical – papers and therefore presents a fine overview for our topic. Therefore chapter two will start with brief discussions of the Threat-Rigidity Hypothesis and Threat-Rigidity Effects on the individualleve, group-level and organizational-level as described in Staw et. al’s paper.