Author: Lucy F. AckertPublisher:
ISBN:
Category : Corporate profits
Languages : en
Pages : 20
Book Description
Rational Expectations and the Dynamic Adjustment of Security Analysts' Forecasts to New Information
Author: Lucy F. AckertPublisher:
ISBN:
Category : Corporate profits
Languages : en
Pages : 20
Book Description
Rational Expectations and the Dynamic Adjustment of Security Analysts' Forecast to New Information
Author: Lucy F. AckertA Simultaneous Equations Analysis of Analysts' Forecast Bias and Institutional Ownership
Author: Lucy F. AckertPublisher:
ISBN:
Category : Corporate profits
Languages : en
Pages : 40
Book Description
The Magnitude and Timing of Analyst Forecast Response to Quarterly Earnings Announcements
Author: Lise Newman GrahamPublisher:
ISBN:
Category : Corporate profits
Languages : en
Pages : 334
Book Description
Quarterly Journal of Business and Economics
Author: Assessing Rational Expectations 2
Author: Roger GuesneriePublisher: MIT Press
ISBN: 9780262262903
Category : Business & Economics
Languages : en
Pages : 498
Book Description
A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test. The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory, macroeconomics, and general equilibrium to finance. In this book, Roger Guesnerie continues the critical analysis of the REH begun in his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised by multiplicity and its implications for a theory of endogenous fluctuations. This second volume emphasizes "eductive" learning: relying on careful reasoning, agents must deduce what other agents guess, a process that differs from the standard evolutionary learning experience in which agents make decisions about the future based on past experiences. A broad "eductive" stability test is proposed that includes common knowledge and results in a unique "rationalizable expectations equilibrium." This test provides the basis for Guesnerie's theoretical assessment of the plausibility of the REH's expectational coordination, emphasizing, for different categories of economic models, conditions for the REH's success or failure. Guesnerie begins by presenting the concepts and methods of the eductive stability analysis in selected partial equilibrium models. He then explores to what extent general equilibrium strategic complementarities interfere with partial equilibrium considerations in the formation of stable expectations. Guesnerie next examines two issues relating to eductive stability in financial market models, speculation and asymmetric price information. The dynamic settings of an infinite horizon model are then taken up, and particular standard and generalized saddle-path solutions are scrutinized. Guesnerie concludes with a review of general questions and some "cautious" remarks on the policy implications of his analysis.
Economic Review
Author: Handbook of Security Analyst Forecasting and Asset Allocation
Author: John GuerardPublisher: JAI Press(NY)
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
Book Description
Part of a series on contemporary studies in economic and financial analysis, this volume focuses on security analyst forecasting and asset allocation. Topics include market response to earning forecasts; and the effectiveness of security analysts' forecasts; among others.
Rational Expectations
Author: Steven M. SheffrinPublisher: Cambridge University Press
ISBN: 9780521479394
Category : Business & Economics
Languages : en
Pages : 204
Book Description
This book develops the idea of rational expectations and surveys its use in economics today.
Author: