The irrelevance of tests for bias in series of macroeconomic forecasts

The idea of rational expectations has revolutionized macroeconomics. Several authors believe that the idea can be easily tested by a simple econometric procedure. This paper, however, presents several reasons for questioning the relevance of such tests.

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Year of publication:	1987
Authors:	Webb, Roy H.
Published in:	Economic Review. - Federal Reserve Bank of Richmond. - 1987, Nov, v. 73, no. 6, p. 3-9
Publisher:	Federal Reserve Bank of Richmond
Subject:	Forecasting

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005063828