New answers tagged reference-request
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Headline Inflation:
Headline inflation is the raw inflation figure reported through the Consumer Price Index (CPI)
Raw means it is not adjusted in any way (like core inflation that excludes energy and food prices). Provisional headline inflation just means the numbers are not final and subject to change.
Imputed Index
If some prices are missing ...
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Have a look at CentralBankNews.info.
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A study of Gopi Shah Goda, Matthew Levy, Colleen Flaherty Manchester, Aaron Sojourner, and Joshua Tasoff (2015) The Role of Time Preferences and Exponential-Growth Bias in Retirement Savings showed that in the US the most important cognitive bias is the exponential growth bias.
Exponential growth bias is bias that occurs because people intuitively do not ...
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VAR models are typically used in macroeconomics, among other fields. Lütkepohl "New Introduction to Multiple Time Series Analysis" (2005) (a textbook) contains an in-depth presentation of VAR models and includes some relevant examples.
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There is this study from Banque de France using a Bayesian VAR to analyse and forecast macroeconomic indicators, authors are Gergely Ganics and Florens Odendahl.
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The idea is to consider the hyperplane tangent at the indifference curve through $x^t$ as a "linear budget". These linear budgets have to include the set $\overline{y^t, z^t}$. Then making use of these these linear budgets, we can leverage the results of Matzkin & Richter (JET,1991, Testing strictly concave rationality) to obtain a strictly ...
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Take a dataset $D = (B^t, x^t)_{t \in T}$ such that for all $t$, $x^t \in B^t$. I'll say that $D$ is rationalisable by the utility function $u$ if for all $t$ and all $x \in B$: $u(x^t) \ge u(x)$.
If you only impose convexity on $u$, then any dataset $D$ is rationalisable by the constant (convex) utility function $u(x) = k$. So this has not testable ...
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