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| Author: | Kandel, E. Zilberfarb, B. |
| Title: | Differential interpretation of information in inflation forecasts |
| Journal: | Review of Economics and Statistics
1999 : MAY, VOL. 81:2, p. 217-226 |
| Index terms: | INFORMATION INFLATION FORECASTING |
| Language: | eng |
| Abstract: | The authors test the hypothesis associated with a standard assumption in the theoretical literature on learning: that economic agents interpret information identically. The authors use a data set based on a survey of Israeli business executives forecasting future inflation. One of the main advantages of using this data is that a major change in the inflation regime in 1985 can be treated as a natural experiment in new beliefs formation. |
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