Working Paper
Inadequate tests of the rationality of expectations
Webb, Roy H. (1984)
In several recent articles, authors have regressed actual values of macroeconomic aggregates on predicted values and claimed that they were testing the rationality of expectations. This paper interprets those regressions as testing a joint hypothesis of imperfect information and rational expectations. An empirical method is proposed to separate the components of the joint hypothesis. Predictions from two major forecasting services are examined, and results are found that are consistent with rational expectations but inconsistent with the joint hypothesis. It is therefore argued that many ...
Working Paper , Paper 84-07

Journal Article
Forecasts 1983
Webb, Roy H. (1983-01)
An abstract for this article is not available.
Economic Review , Volume 69 , Issue Jan , Pages 3-6

Journal Article
Labor market data
Webb, Roy H.; Whelpley, William (1989-11)
A guide to the use and interpretation of labor market data (employment, unemployment, and wages). Important statistical sources are surveyed and their histories outlined.
Economic Review , Volume 75 , Issue Nov , Pages 15-22

Journal Article
Interest rates and federal deficits
Webb, Roy H. (1982-07)
An abstract for this article is not available.
Economic Review , Volume 68 , Issue Jul , Pages 16-22

Journal Article
Forecasts 1982
Webb, Roy H. (1982-01)
An abstract for this article is not available.
Economic Review , Volume 68 , Issue Jan , Pages 17-24

Journal Article
The national income and product accounts
Webb, Roy H. (1986-05)
Economic Review , Volume 72 , Issue May , Pages 11-17

Journal Article
Taxing capital gains
Webb, Roy H. (1980-11)
An abstract for this article is not available
Economic Review , Volume 66 , Issue Nov , Pages 14-22

Journal Article
Wage-price restraint and macroeconomic disequilibrium
Webb, Roy H. (1979-05)
An abstract for this article is not available
Economic Review , Volume 65 , Issue May , Pages 14-25

Journal Article
The irrelevance of tests for bias in series of macroeconomic forecasts
Webb, Roy H. (1987-11)
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.
Economic Review , Volume 73 , Issue Nov , Pages 3-9

Journal Article
Which price index should a central bank employ?
Webb, Roy H. (2004-04)
Economic Quarterly , Volume 90 , Issue Spr , Pages 63-76