AVariability Analysis on the Flatfish Production and Revenue using Expectation Hypotheses and GARCH Model
(주)코리아스칼라
- 최초 등록일
- 2023.04.05
- 최종 저작일
- 2017.06
- 17페이지/ 어도비 PDF
- 가격 5,100원
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서지정보
ㆍ발행기관 : 한국수산경영학회
ㆍ수록지정보 : 水産經營論集 / 48권 / 2호
ㆍ저자명 : Hyung-Mo Yoon, Ji-Young Yoon
영어 초록
This work studies the variability of flatfish sales revenue. The theoretical analysis draws functions for equilibrium price and quantity using expectation hypotheses. The functions include unpredictable phenomenon with dummy variable and GARCH. The equilibrium function, using adaptive expectation hypothesis, contains the independent variables of supply and demand, while the equilibrium function, embodying rational expectation hypothesis, includes only the independent variables of supply side, because the demand side disappears by the information extraction process theoretically, if economic subjects build the expectation rational.
The empirical analysis shows: the variability of flatfish production has a spillover effect on the variability of revenue with the adaptive expectation hypothesis. In the case when the model has a rational expectation hypothesis, the variability of flatfish production has a spillover effect on the revenue (the mean equation of GARCH model). This study indicates that there is the variability in flatfish production and sales revenue, and the spillover effect between them. The result can help to build of the rational system for the fishery income stability.
참고 자료
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