Are Market Forecasts Rational?
AbstractThis paper conducts tests of the rationality of both inflation and short-term interest rate forecasts in the bond market. These tests are developed with the theory of efficient markets and make use of security price data to infer information on market expectations.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0507.
Date of creation: Jul 1980
Date of revision:
Publication status: published as Mishkin, Frederic S. "Are Market Forecasts Rational?" The American Economic Review, Vol. 71, No. 3, (June 1981), pp. 295-306.
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Other versions of this item:
- Mishkin, Frederic S, 1981. "Are Market Forecasts Rational?," American Economic Review, American Economic Association, American Economic Association, vol. 71(3), pages 295-306, June.
- Frederic S. Mishkin, 1983. "Are Market Forecasts Rational?," NBER Chapters, in: A Rational Expectations Approach to Macroeconomics: Testing Policy Ineffectiveness and Efficient-Markets Models, pages 59-75 National Bureau of Economic Research, Inc.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert J. Barro, 1976.
"Unanticipated Money Growth and Unemployment in the United States,"
Working Papers, Queen's University, Department of Economics
234, Queen's University, Department of Economics.
- Barro, Robert J, 1977. "Unanticipated Money Growth and Unemployment in the United States," American Economic Review, American Economic Association, American Economic Association, vol. 67(2), pages 101-15, March.
- Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, American Finance Association, vol. 25(2), pages 383-417, May.
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