Direkt zur Hauptnavigation springen Direkt zum Inhalt springen
info(at)avldigital.remove-this.de
Deutsch English
Letzte Suchanfragen

Ergebnisse für *

Zeige Ergebnisse 1 bis 4 von 4.

  1. Firm expectations and news
    micro v macro
    Autor*in: Born, Benjamin; Enders, Zeno; Menkhoff, Manuel; Müller, Gernot J.; Niemann, Knut
    Erschienen: December 2022
    Verlag:  CESifo, Munich, Germany

    In this study, we investigate how firm expectations about their own developments respond to different types of news. We classify news as either micro or macro, with micro news being information about firm-specific developments and macro news being... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    HeiBIB - Die Heidelberger Universitätsbibliographie
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 63
    Fernleihe:
    keine Fernleihe

     

    In this study, we investigate how firm expectations about their own developments respond to different types of news. We classify news as either micro or macro, with micro news being information about firm-specific developments and macro news being information about the aggregate economy. Our analysis of firm surveys from Germany and Italy shows that both types of news consistently predict forecast errors, contradicting the idea of full-information rational expectations. Yet while firm expectations overreact to micro news, they underreact to macro news. We propose a model in which firms suffer from "island illusion" to explain these patterns in the data.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/271836
    Schriftenreihe: CESifo working papers ; 10192 (2022)
    Schlagworte: firm expectations; survey; overreaction; underreaction; micro news; macro news; island illusion; business cycle
    Umfang: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  2. Firm expectations and news
    micro v macro
    Autor*in: Born, Benjamin; Enders, Zeno; Menkhoff, Manuel; Müller, Gernot J.; Niemann, Knut
    Erschienen: 26 December 2022
    Verlag:  Centre for Economic Policy Research, London

    Zugang:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Standort:
    HeiBIB - Die Heidelberger Universitätsbibliographie
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    LZ 161
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Mannheim
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliographie Tübingen
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP17768
    Schlagworte: Firm expectations; Survey; overreaction; underreaction; micro news; macro news; island illusion; Business cycle
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  3. Firm expectations and news: micro v macro
    Autor*in: Born, Benjamin; Enders, Zeno; Menkhoff, Manuel; Müller, Gernot J.; Niemann, Knut
    Erschienen: July 2023
    Verlag:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    Using firm-level data, we study how firm expectations adjust to news while accounting for a) the heterogeneity of news and b) the heterogeneity of firms. We classify news as either micro or macro, that is, information about firm-specific developments... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 402
    Fernleihe:
    keine Fernleihe

     

    Using firm-level data, we study how firm expectations adjust to news while accounting for a) the heterogeneity of news and b) the heterogeneity of firms. We classify news as either micro or macro, that is, information about firm-specific developments or information about the aggregate economy. Survey data for German and Italian firms allows us to reject rational expectations: Both types of news predict forecast errors at the firm level. Yet while firm expectations overreact to micro news, they underreact to macro news. We propose a general-equilibrium model where firms suffer from 'island illusion' to explain these patterns in the data.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/275757
    Schriftenreihe: Ifo working papers ; 400 (2023)
    Schlagworte: Survey data; salience; overreaction; underreaction; micro news; macro news; island illusion; business cycle
    Umfang: 1 Online-Ressource (circa 74 Seiten), Illustrationen
    Bemerkung(en):

    Erscheint auch als Druck-Ausgabe
  4. Firm expectations and news
    micro v macro
    Autor*in: Born, Benjamin; Enders, Zeno; Menkhoff, Manuel; Müller, Gernot J.; Niemann, Knut
    Erschienen: 2023
    Verlag:  Humboldt-Universität, Berlin

    Using firm-level data, we study how firm expectations adjust to news while accounting for a) the heterogeneity of news and b) the heterogeneity of firms. We classify news as either micro or macro, that is, information about firm-specific developments... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 715
    Fernleihe:
    keine Fernleihe

     

    Using firm-level data, we study how firm expectations adjust to news while accounting for a) the heterogeneity of news and b) the heterogeneity of firms. We classify news as either micro or macro, that is, information about firm-specific developments or information about the aggregate economy. Survey data for German and Italian firms allows us to reject rational expectations: Both types of news predict forecast errors at the firm level. Yet while firm expectations overreact to micro news, they underreact to macro news. We propose a general-equilibrium model where firms suffer from 'island illusion' to explain these patterns in the data.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/273488
    Schriftenreihe: Working Papers of the Priority Programme 1859 ; no 43 (2023, July)
    Schlagworte: Survey data; salience; overreaction; underreaction; micro news; macro news; island illusion; business cycle
    Umfang: 1 Online-Ressource (circa 74 Seiten), Illustrationen