Article ID Journal Published Year Pages File Type
5062806 Economics Letters 2006 7 Pages PDF
Abstract

Real-time output and direct measures of expectations at different time horizons are analysed within a cointegrated VAR. We find expectations to be unbiased in the long run, with stationary expectational errors that are eliminated in a manner consistent with rationality.

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Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Are US output expectations unbiased? A cointegrated VAR analysis in real time
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