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RIGID LAGS AND THE ESTIMATION OF LONGRUN ECONOMIC REAC
A PSYCHOLOGICAL EXPERIMENT
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acreage aluminum ingot aluminum price analysis argued arguments assume automobile behavior Boston-New York capita stock cent level Chapter Condition confidence intervals Corn Laws correlation course decision-makers decisions demand curve demand for aluminum differences discard discussion distributed lags Econometrica Econometrics effects elasticity of demand equations estimate exogenous shocks expect fares figures given harvest harvest-year important income elasticity independent variable Index of Durable inventory investigation involved later least squares log Ct logarithmic long-run price magnitude money prices moving average multicollinearity null hypothesis number of changes oblivion threshold observations obtain oligopoly parameter shifts passenger traffic peak trough period population possible postwar predict prewar price elasticity price leadership priori information probably problem procedure railroad passenger reason Review scatter diagram seems short-run significant standard error Statistics stimulus variable stock of cars supply theory tion trend turning point Type n reaction United Kingdom wheat zero