Looking backward and looking forward

Artikel

Filtering has had a profound impact as a device of perceiving information and deriving agent expectations in dynamic economic models. For an abstract economic system, this paper shows that the foundation of applying the filtering method corresponds to the existence of a conditional expectation as an equilibrium process. Agent-based rational behavior of looking backward and looking forward is generalized to a conditional expectation process where the economic system is approximated by a class of models, which can be represented and estimated without information loss. The proposed framework elucidates the range of applications of a general filtering device and is not limited to a particular model class such as rational expectations.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Econometrics ; ISSN: 2225-1146 ; Volume: 7 ; Year: 2019 ; Issue: 2 ; Pages: 1-24 ; Basel: MDPI

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Econometrics ; Mathematical Methods ; Econometric Modeling: General ; Miscellaneous Mathematical Tools
• Thema: perception ; filter ; rational expectations ; estimation

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Gao, Zhengyuan ; Hafner, Christian M.
• Ereignis: Veröffentlichung
• (wer): MDPI
• (wo): Basel
• (wann): 2019

Weitere Informationen

• DOI: doi:10.3390/econometrics7020027
• Handle: http://hdl.handle.net/10419/247527
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ