dc.contributor.author | Svendsen, Ingvild | |
dc.date.accessioned | 2012-02-07T22:12:11Z | |
dc.date.available | 2012-02-07T22:12:11Z | |
dc.date.issued | 1998 | |
dc.identifier.issn | 1892-753x | |
dc.identifier.uri | http://hdl.handle.net/11250/180837 | |
dc.description.abstract | This paper uses imperfect competition as a basis for modelling the export price for an aggregated commodity produced by the Norwegian private mainland economy. The long run solution is analysed using a cointegration technique. The dynamics are modelled according to two different approaches; a backward looking error correction model and a forward looking model where rational expectations are assumed. The dynamic structure of the forward looking model is derived from a linear quadratic adjustment cost function under rational expectations, but the empirical results do not support this specification. We cannot reject super-exogeneity to be present in the backward looking error correction model. The empirical evidence are thus not consistent with rational expectations.
Keywords: Export price, Imperfect competition, LQAC models, ECM, Cointegration, Rational expectation, Super exogeneity | no_NO |
dc.language.iso | eng | no_NO |
dc.publisher | Statistics Norway, Research Department | no_NO |
dc.relation.ispartofseries | Discussion Papers;No. 226 | |
dc.subject | Export Prices | no_NO |
dc.subject | Norway | no_NO |
dc.subject | Rational expectation | no_NO |
dc.subject | JEL classification: C51 | no_NO |
dc.subject | JEL classification: C52 | no_NO |
dc.subject | JEL classification: D84 | no_NO |
dc.subject | JEL classification: E31 | no_NO |
dc.title | Rational expectations in price setting. Tests based on Norwegian export prices | no_NO |
dc.type | Working paper | no_NO |
dc.subject.nsi | VDP::Social science: 200::Economics: 210::Economics: 212 | no_NO |
dc.source.pagenumber | 27 s. | no_NO |