Vector rational error correction
作者： Sharon Kozicki , P.A. Tinsley
DOI: 10.1016/S0165-1889(98)00075-X
关键词: Rational expectations 、 A priori and a posteriori 、 Mathematical economics 、 Standard model (cryptography) 、 Error detection and correction 、 Economics 、 Estimator 、 Error correction model 、 Mathematical optimization 、 Structure (mathematical logic) 、 Decision rule
摘要: Abstract Systems of forward-looking linear decision rules can be formulated as vector ‘rational’ error correction models. The closed-form solution the restricted corrections is derived, and a full-information estimator suggested. format indicates that assumptions convex adjustment costs rational expectations impose different types priori restrictions on dynamic structure corrections. An empirical model producer rule for capital investment illustrates data rejects imposed by standard but supports more general description frictions.
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