A NOTE ON THE RATIONALITY OF SURVEY INFLATION-EXPECTATIONS IN THE UNITED-KINGDOM

被引：7

作者：

ENGSTED, T

机构：

[1] Department of Economics, Aarhus School of Business, Aarhus V, Fuglesangs alle 20

来源：

APPLIED ECONOMICS | 1991年 / 23卷 / 07期

关键词：

D O I：

10.1080/00036849100000167

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

When actual and expected inflation rates are integrated processes, the rational expectations assumption involves a particular cointegrating relationship between them. This makes it possible to test the rationality hypothesis using error-correction formulations. By using these cointegration- and error-correction techniques, unbiasedness and weak-form efficiency cannot be rejected on survey inflation expectations from British Manufacturing Industries. © 1991, Taylor & Francis Group, LLC. All rights reserved.

引用

页码：1269 / 1276

页数：8

共 23 条

[1]

BAILLIE RT, 1989, ECONOMET REV, V8, P151

[2] WHAT DO ECONOMISTS KNOW - AN EMPIRICAL-STUDY OF EXPERTS EXPECTATIONS [J].