Rationality and seasonality: Evidence from inflation forecasts
Nathan Goldstein and
Economics Letters, 2017, vol. 150, issue C, 86-90
We examine the seasonal pattern in expectations, using a unique Israeli survey of quarterly inflation forecasts. Rationality is rejected with respect to (trivial) information about calendar quarter. Seasonal bias is strongest at shorter horizons and in a low inflation environment.
Keywords: Rational expectations; Survey forecasts; Seasonality (search for similar items in EconPapers)
JEL-codes: D83 E27 E37 E47 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:150:y:2017:i:c:p:86-90
Access Statistics for this article
Economics Letters is currently edited by Economics Letters Editorial Office
More articles in Economics Letters from Elsevier
Series data maintained by Dana Niculescu ().