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Title:	Essays in rational expectations and in migration
Authors:	Cubadda, Gianluca Depalo, Domenico
Keywords:	present value models ecm seasonality migration panel data sample selection
Issue Date:	23-Oct-2008
Abstract:	Japan: The case for Taylor Rule? A simple Approach. In this article I propose two different models to analyze the monetary policy under certain expectations rules: in one polar case expectations are adaptive, in the other polar case are rational. I used these models to judge whether the Taylor Rule can be a good benchmark for the conduction of the monetary policy in Japan, or not. When I looked at the Japanese economy, the conclusion is that a simple AR model fits the data better than the Taylor rule, and that assuming rational expectations in Japan could be highly misleading, at least in the last 10 years. Reconsidering the Present Value Model. The importance to be seasonal. Often economic agents' behaviour is described by Present Value Models, a class of simple dynamic stochastic models such that one variable of interest depends upon expected discounted future values of other variables. Thanks to its simplicity, the strategy attracted much attention even though the ...
Description:	19. ciclo
URI:	http://hdl.handle.net/2108/672
Appears in Collections:	Tesi di dottorato in economia

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