原文传递
RATIONAL ERROR CORRECTION
| 题名： | RATIONAL ERROR CORRECTION |
| 作者： | P. A. Tinsley |
| 关键词： | Companion systems, error correction, producer pricing, rational expectations |
| 摘要： | Under general conditions, linear decision rules of agents with rational expectations are equivalent to restricted error corrections. However, empirical rejections of rational expectation restrictions are the rule, rather than the exception, in macroeconomics. Rejections often are conditioned on the assumption that agents aim to smooth only the levels of actions or are subject to geometric random delays. Generalizations of dynamic frictions on agent activities are suggested that yield closed-form, higher-order decision rules with improved statistical fits and infrequent rejections of rational expectations restrictions. Properties of these generalized “rational” error corrections are illustrated for producer pricing in maufacturing industries. |
| 报告类型： | 科技报告 |
相关文献
- Rational Error Correction
- Satellite Ephemeris Correction via Remote Site Observation for Star Tracker Navigation Performance Improvement.
- Errors in Environmental Assessments: An Error-Budget Model for Plant Populations; Final rept
- A theory of human error
- FIM Avionics Operations Manual
- Results From a Sting Whip Correction Verification Test at the Langley 16-Foot Transonic Tunnel
检索历史
应用推荐
