UNSPECIFIED (1994) A NOTE ON THE UNBIASEDNESS TEST OF RATIONALITY USING SURVEY DATA. JOURNAL OF MACROECONOMICS, 16 (2). pp. 369-374. ISSN 0164-0704

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Abstract

This paper examines the performance of the unbiasedness test of rationality using survey data by accounting for measurement errors associated with the survey expectations, and also the generated regressor problem arising from the quantitative expectations having been generated from an auxiliary equation. It is shown that ignoring the generated regressor problem can yield incorrect coefficient estimates and markedly larger standard error estimates, which could lead to an incorrect acceptance of a false null hypothesis.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions
Journal or Publication Title:	JOURNAL OF MACROECONOMICS
Publisher:	LOUISIANA STATE UNIV PR
ISSN:	0164-0704
Date:	1994
Volume:	16
Number:	2
Number of Pages:	6
Page Range:	pp. 369-374
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/20309

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