Are Policy Variables Exogenous?: The Econometric Implications of Learning While Maximizing

By Balazs Horvath

This book demonstrates that Bayesian learning by rational policymakers affects the exogeneity status of policy variables in econometric models by creating an intertemporal informational feedback. This phenomenon is empirically detectable using exogeneity tests. This makes the book relevant for empirical, as well as theoretical econometricians.

• Format: Paperback
• Language: English
• ISBN: 3540542876
• ISBN13: 9783540542872
• Release Date: August 1991
• Publisher: Springer
• Length: 162 Pages
• Weight: 0.57 lbs.
• Dimensions: 0.4" x 6.1" x 9.2"