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Basic Econometrics 5th Edition by Damodar Gujarati,Dawn Porter
Edition 5ISBN: 978-0073375779Basic Econometrics 5th Edition by Damodar Gujarati,Dawn Porter
Edition 5ISBN: 978-0073375779 Exercise 4
Assume that prices are formed according to the following adaptive expectations hypothesis:
P t * = P t 1 + (1 ) P * t 1
where P* is the expected price and P the actual price.
Complete the following table, assuming = 0.5:*
P t * = P t 1 + (1 ) P * t 1
where P* is the expected price and P the actual price.
Complete the following table, assuming = 0.5:*
Explanation
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Adaptive expectations hypothesis for pri...
Basic Econometrics 5th Edition by Damodar Gujarati,Dawn Porter
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