Rational Expectation Hypothesis: An Application of the Blanchard and Khan Approach

Tito Moreira (), Geraldo Souza () and Charles Almeida ()
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Geraldo Souza: Universidade de Brasília
Charles Almeida: Tribunal de Contas da União

Economics Bulletin, 2004, vol. 3, issue 22, 1-9

Abstract: This paper uses the solution of the linear difference model under rational expectation of Blanchard and Kahn (1980) to test the validity of the inflation stickiness and the Rational Expectation Hypotheses for the Brazilian economy during the period from 06/95 to 09/02. Using the Fuhrer-Moore model and GMM we find evidence favoring both hypothesis.

Keywords: Fuhrer-Moore; Model (search for similar items in EconPapers)
JEL-codes: C1 E0 (search for similar items in EconPapers)
Date: 2004-06-26
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