TESTING FOR RATIONAL EXPECTATIONS WITH QUALITATIVE SURVEY DATA

1985 ◽  
Vol 53 (2) ◽  
pp. 138-148 ◽  
Author(s):  
MICHAEL S. COMMON
2021 ◽  
Vol 224 (2) ◽  
pp. S424
Author(s):  
Samia Saeb ◽  
Lisa M. Korst ◽  
Moshe Fridman ◽  
Kimberly D. Gregory ◽  
Jeanette McCulloch ◽  
...  

2018 ◽  
Vol 56 (4) ◽  
pp. 1447-1491 ◽  
Author(s):  
Olivier Coibion ◽  
Yuriy Gorodnichenko ◽  
Rupal Kamdar

This paper argues for a careful (re)consideration of the expectations formation process and a more systematic inclusion of real-time expectations through survey data in macroeconomic analyses. While the rational expectations revolution has allowed for great leaps in macroeconomic modeling, the surveyed empirical microevidence appears increasingly at odds with the full-information rational expectation assumption. We explore models of expectation formation that can potentially explain why and how survey data deviate from full-information rational expectations. Using the New Keynesian Phillips curve as an extensive case study, we demonstrate how incorporating survey data on inflation expectations can address a number of otherwise puzzling shortcomings that arise under the assumption of full-information rational expectations. (JEL D04, E24, E27, E31, E37)


2012 ◽  
Vol 28 (4) ◽  
pp. 580-603 ◽  
Author(s):  
James Mitchell ◽  
Richard J. Smith ◽  
Martin R. Weale

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