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Some Empirical Results on 'the Rationality' of Expectations Derived from Survey Data

Research output: Contribution to Journal/MagazineJournal articlepeer-review

<mark>Journal publication date</mark>09/1984
<mark>Journal</mark>Empirical Economics
Issue number3
Number of pages13
Pages (from-to)151-163
Publication StatusPublished
<mark>Original language</mark>English


The purpose in this paper is to examine the properties of time series of expectations data derived from survey data, when explicit allowance is made for the time horizon of the forecasts and the information set which agents possess. Our empirical results suggest that three of the five series examined exhibit ex-post bias.