Why did the Nikkei crash? Expanding the scope of expectations data collection
Article Abstract:
A survey was conducted among stock market speculators in Japan and the US regarding their views before, during, and after the fall of the Nikkei stock price average from 1989 to 1992. Time series analysis results show differences in market expectations among speculators in both countries. However, the results also indicate a relationship between the Nikkei crash and the speculations of Japanese investors regarding increases in earnings.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Cobwebs, rational expectations and futures markets
Article Abstract:
Cobweb cycles and other market behavior not conforming with the Muth Rational Expectations theory (MRE) happen when there are no commodity futures markets. However, despite the presence of futures markets in financial and foreign exchange, the MRE theory is not followed. Proof and explanation of these observations are presented.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
An empirical window on rational expectations formation
Article Abstract:
The expectations about an individual's length of life is used as an empirical test for rational expectations. Empirical observations, however, indicate that length of life expectations are not consistent with rational expectation models.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Nonshiftable capital, affine price expectations and convergence to the Golden Rule
- Abstracts: Choosing the number of conditioning events in judgemental forecasting. Going up-going down: how good are people at forecasting trends and changes in trends?
- Abstracts: Comparing the accuracy of density forecasts from competing models. Robust evaluation of fixed-event forecast rationality
- Abstracts: Global stability of the competitive economy involving complementary relations among commodities. Regular public good economies
- Abstracts: Branch banking and the geography of bank pricing. Okun's coefficient: a comment. The direct costs of financial repression: evidence from India