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The results are obtained using categorical information on individual firms contained in business surveys collected by the Confederation of British Industry. Ordered probit models are used to estimate the employment and output equations. We find that expected demand is a critical determinant of firms' decisions, the effect of changes in cost conditions is not as well determined, and the data are not consistent with the rational expectations hypothesis.<\/jats:p>","DOI":"10.1002\/jae.3950040304","type":"journal-article","created":{"date-parts":[[2007,7,12]],"date-time":"2007-07-12T14:49:11Z","timestamp":1184251751000},"page":"251-264","source":"Crossref","is-referenced-by-count":10,"title":["A qualitative response analysis of UK firms' employment and output decisions"],"prefix":"10.1002","volume":"4","author":[{"given":"James","family":"McIntosh","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Fabio","family":"Schiantarelli","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"William","family":"Low","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2006,8,8]]},"reference":[{"key":"e_1_2_1_2_1","unstructured":"Adanki S.(1986) PSA 1986. 2 User's Guide."},{"key":"e_1_2_1_3_1","first-page":"1483","article-title":"Qualitative response models: a survey","author":"Amemiya T.","year":"1981","journal-title":"Journal of Economic Literature"},{"key":"e_1_2_1_4_1","unstructured":"Ivaldi M.(1988) \u2018A forecasting model of the economic activity based on business survey data\u2019. 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