| Tekijä: | Kukuk, M. |
| Otsikko: | Haben Unternehmer Rationale Erwartungen? Eine empirische Untersuchung |
| Lehti: | IFO-Studien
1994 : VOL. 39:2, p. 111-125 |
| Asiasana: | RATIONAL EXPECTATIONS GERMANY DISTRIBUTION |
| Kieli: | eng |
| Tiivistelmä: | The Rational Expectation Hypothesis (REH) is tested directly employing German business survey data. Since the variables in the data set are mostly ordinal, the author uses a linear latent variables model. The REH is rejected using the multivariate normal distribution assumption for the latent variables. But the distributional assumption is also rejected which implies that this model is not appropriate to describe the data. The author shows that the rejection holds for a whole class of distributions. |
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