D84 - Expectations; Speculations - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T00:18:50+00:00The Formation of House Price Expectations in Canada: Evidence from a Randomized Information Experiment
https://www.bankofcanada.ca/2019/08/staff-analytical-note-2019-24/
We conduct a randomized information experiment leveraging the Canadian Survey of Consumer Expectations. We provide causal evidence that respondents revise both their short- and medium-term expectations of future house price growth in a way that is consistent with observed short-term momentum in house prices. However, empirically, house price growth tends to revert to its mean in the medium term.2019-08-06T12:28:17+00:00enThe Formation of House Price Expectations in Canada: Evidence from a Randomized Information Experiment2019-08-06Are Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments
https://www.bankofcanada.ca/2019/08/staff-working-paper-2019-27/
Most models in finance assume that agents make trading plans over the infinite future. We consider instead that they are boundedly rational and may only form forecasts over a limited horizon.2019-08-01T10:19:48+00:00enAre Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments2019-08-01Asset pricingCentral bank researchEconomic modelsFinancial marketsStaff Working Paper 2019-27https://www.bankofcanada.ca/wp-content/uploads/2019/08/swp2019-27.pdfAre Long-Horizon Expectations (De-)Stabilizing? Theory and ExperimentsGeorge EvansCars HommesIsabelle SalleBruce McGoughAugust 2019CC9C92DD8D84E