Survey Evidence on The Rationality of Interest Rate Expectations
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An analysis of predictions of six interest rates over 3-months-ahead and 6-months-aheadhorizons, surveyed regularly over eight years, casts doubt on the hypothesis that market participants' expectations are 'rational' in Muth's sense. Tests show that the survey respondents did not make unbiased
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美国国家经济研究局创建时间：
1980-12-01
