The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem
نویسندگان
چکیده
منابع مشابه
Macroeconomic forecasts and microeconomic forecasters
In the presence of principal-agent problems, published macroeconomic forecasts by professional economists may not measure expectations. Forecasters may use their forecasts in order to manipulate beliefs about their ability. I test a cross-sectional implication of models of reputation and information-revelation. I find that as forecasters become older and more established, they produce more radi...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2019
ISSN: 0012-9682
DOI: 10.3982/ecta15202