Template-Type: ReDIF-Article 1.0
Author-Name: Nicoletta Pashourtidou
Author-Email: n.pashourtidou@ucy.ac.cy
Author-Workplace-Name: Economics Research Centre, University of Cyprus
Author-Name: Andreas Tsiaklis
Author-Email:Tsiaklis.andreas@ucy.ac.cy
Author-Workplace-Name:  Economics Research Centre, University of Cyprus
Title: An Analysis of Firms’ Expectations about Activity and Employment
Abstract:This paper uses individual firm data from the Cyprus Business Surveys for the period May 2009 - April 2011 to assess the extent to which expectations about activity and employment stated in a given month agree with realisations reported by the same firms in subsequent Surveys. The results show that the probability of a firm stating expectations that are consistent with future realisations varies systematically with firm-specific characteristics such as size, district and subsector of operation. The heterogeneity in this probability can be viewed as a description of the shocks experienced ex post by different types of firms
Classification-JEL:
Keywords: business surveys, expectations, firm-level data, probit model
Journal: Cyprus Economic Policy Review
Pages: 71-85
Volume: 5
Issue: 1
Year: 2011
Month: June
File-URL: http://www.ucy.ac.cy/erc/documents/AnAnalysis.pdf
File-Format: Application/pdf
Handle: RePEc:erc:cypepr:v:5:y:2011:i:1:p:71-85