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"Many kinds of economic behavior involve discrete and occasional individual choices. Despite this, econometric partial adjustment models perform relatively well at the aggregate level. Analyzing the classic employment adjustment problem, we show how such microeconomic adjustment is well described by a new form of partial adjustment model that aggregates the actions of heterogeneous producers"--Federal Reserve Bank of Minneapolis web site.
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Econometric modelsShowing 2 featured editions. View all 2 editions?
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Partial adjustment without apology
2004, Federal Reserve Bank of Minneapolis
Electronic resource
in English
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Edition Notes
"August 2003."
Includes bibliographical references.
Also available in PDF from the NBER world wide web site (www.nber.org).
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- Created September 29, 2008
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