The irrelevance of tests for bias in series of macroeconomic forecasts
Roy H. Webb
Economic Review, 1987, vol. 73, issue Nov, 3-9
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.
Keywords: Forecasting (search for similar items in EconPapers)
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