Journal Article
The irrelevance of tests for bias in series of macroeconomic forecasts
Abstract: 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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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Economic Review
Publication Date: 1987
Volume: 73
Issue: Nov
Pages: 3-9