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作者：BELADI, H; CHOUDHARY, MAS; PARAI, AK
作者单位：State University of New York (SUNY) System; SUNY Fredonia
摘要：We apply Chow's (1989) technique to the present value model of hyperinflation under rational and adaptive expectation hypotheses. We use the monthly data on price and money supply of Germany (1921:5-1923:8), Hungary (1921:10-1924:2) and Poland (1922:1-1924:1). Our test results show that the German data are consistent with the adaptive expectations hypothesis and the Hungarian data are consistent with the rational expectations hypothesis. The Polish data, however, do not support either of the t...
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作者：GAMBLE, JA; LESAGE, JP
作者单位：University System of Ohio; University of Toledo
摘要：This Monte Carlo study compares the performance of a recently proposed multiprocess mixture model and a more traditional random walk time-varying parameter (TVP) model in the face of structural shifts and outliers. The mixture model performs well and the latter model performs poorly. This finding is of general interest, since investigators often adopt random-walk TVP models to accommodate potential regime shifts in regression relationships. The findings suggest that the TVP estimation procedur...
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作者：BORDLEY, RF
作者单位：National Science Foundation (NSF)
摘要：Of the share lost to one product because of a price change, diversion fractions are the fractions of that lost share going to each of the other products. This paper expresses product cross-elasticities in terms of diversion fractions and a scaling factor. Since the automotive market includes more than 200 products, time-series data are insufficient for estimating all elasticities. Instead, this paper estimates automotive elasticities by specifying the diversion fractions using cross-sectional ...
