Firm optimism and pessimism

This paper explores the question of whether firms have systematic expectation biases. Using microdata from the West German manufacturing subset of the IFO Business Climate Survey, we infer quarterly production growth rates at the firm level. We then combine this information with production growth ex...

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Veröffentlicht in:	European economic review 2015-10, Vol.79, p.297-325
Hauptverfasser:	Bachmann, Rüdiger, Elstner, Steffen
Format:	Artikel
Sprache:	eng
Schlagworte:	Bias Expectation biases Expectation errors Firm data Growth rate Growth rates Leverage Optimism Productivity Studies Survey data West Germany
Online-Zugang:	Volltext
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