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Are Market Forecasts Rational?


Frederic S. Mishkin


Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)
September 1981

NBER Working Paper No. w0507

Abstract:     
This paper conducts tests of the rationality of both inflation and short-term interest rate forecasts in the bond market. These tests are developed with the theory of efficient markets and make use of security price data to infer information on market expectations.

Number of Pages in PDF File: 20

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Date posted: March 21, 2001  

Suggested Citation

Mishkin, Frederic S., Are Market Forecasts Rational? (September 1981). NBER Working Paper No. w0507. Available at SSRN: http://ssrn.com/abstract=263389

Contact Information

Frederic S. Mishkin (Contact Author)
Columbia Business School - Finance and Economics ( email )
3022 Broadway
New York, NY 10027
United States

National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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