TESTING FOR MEASUREMENT ERRORS IN EXPECTATIONS FROM SURVEY DATA - AN INSTRUMENTAL VARIABLES APPROACH

Authors
RICH RW RAYMOND JE BUTLER JS
Citation
Rw. Rich et al., TESTING FOR MEASUREMENT ERRORS IN EXPECTATIONS FROM SURVEY DATA - AN INSTRUMENTAL VARIABLES APPROACH, Economics letters, 43(1), 1993, pp. 5-10
Citations number
17
Categorie Soggetti
Economics
Journal title
Economics letters → ACNP
ISSN journal
01651765
Volume
43
Issue
1
Year of publication
1993
Pages
5 - 10
Database
ISI
SICI code
0165-1765(1993)43:1<5:TFMEIE>2.0.ZU;2-2
Abstract
This paper examines the issue of measurement errors in expectations fr om survey data in the testing of models of expectations formation. We demonstrate that tests for measurement errors can be conducted through a generalized method of moments specification test and apply our esti mation strategy to the SRC expected inflation series.