Testing the Rational-Expectations Hypothesis: Further Evidence

Alok Bohara

Journal of Business & Economic Statistics, 1991, vol. 9, issue 3, 337-40

Abstract: This article tests the macro rational-expectations hypotheses of rationality and neutrality for quarterly U.S. data. The vector autoregressive representation is derived, and the implied interequation nonlinear restrictions are tested using the Wald statistic. Despite several modifications adopted here, the results confirm the robustness of earlier findings--that is, the test results support rationality, but not neutrality.

Date: 1991
References: Add references at CitEc
Citations: View citations in EconPapers (3)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:9:y:1991:i:3:p:337-40

Ordering information: This journal article can be ordered from
http://www.amstat.org/publications/index.html

Access Statistics for this article

Journal of Business & Economic Statistics is currently edited by Jonathan H. Wright and Keisuke Hirano

More articles in Journal of Business & Economic Statistics from American Statistical Association
Bibliographic data for series maintained by Christopher F. Baum ().