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Title: |
Some Tests for Unbiasedness in the Long Run
Using Survey Data |
| Author: |
Lahiri, Kajal;
Chun, T. S. |
| Author
Affiliation: |
SUNY; Natl
Fisheries U, Busan |
| Source: |
International Economic Journal, Summer 1989, v. 3, no. 2, pp. 27-42 |
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Publication Date: |
Summer 1989 |
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Abstract: |
Many researchers have studied the effect
of price expectations on the Fisher equation and the Phillips curve
phenomenon using the survey data set. Sometimes these works include
investigating the long-run relationships in the macroeconomic models. It
is argued that the results are closely related to the degree of
unbiasedness of survey expectations. This paper, therefore, reports on
econometric tests for unbiasedness in the long-run using ASA-NBER survey
data and Livingston series by band spectral regression and cointegration
tests. Evidence that the degree of biasedness of the ASA-NBER survey is
less than that of the Livingston series has been found. |
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