Skip to Main Content

Economic Review

Nov/Dec, 1987

The Irrelevance of Tests for Bias in Series of Macroeconomic Forecasts

Roy H. Webb

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.

Phone Icon Contact Us

Lisa Davis (804) 697-8179