Empirical Evidence on the Formation of Price Expectations
作者:
StephenJ. Turnovsky,
期刊:
Journal of the American Statistical Association
(Taylor Available online 1970)
卷期:
Volume 65,
issue 332
页码: 1441-1454
ISSN:0162-1459
年代: 1970
DOI:10.1080/01621459.1970.10481175
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
This article investigates empirical evidence on the structure of price expectations in the United States during the post-Korean War period. The study utilizes semiannual data which describe price expectations for six months and twelve months ahead. The objective is to use these two sets of data to test some of the well-known expectational hypotheses. Incidental to this we determine whether expectations satisfy the rationality hypothesis, and we briefly consider the accuracy of the predictions.
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