Testing of the rational expectations and structural neutrality hypotheses

M. J. Driscoll; J. L. Ford; A. W. Mullineux; S. Sen

doi:10.1016/0164-0704(83)90066-6

Testing of the rational expectations and structural neutrality hypotheses

M. J. Driscoll^*, J. L. Ford, A. W. Mullineux, S. Sen

^*Corresponding author for this work

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Abstract

In this paper we examine the tests of the new classical rational expectations and structural neutrality hypotheses undertaken by Leiderman (1980) using a model of money growth and unemployment for the United States developed by Barro (1977). Employing the data used in the studies by Barro and Leiderman we are able to construct an alternative model of money growth and unemployment against which the Barro-Leiderman model is rejected along with the joint hypothesis of rational expectations and structural neutrality.

Original language	English
Pages (from-to)	353-360
Number of pages	8
Journal	Journal of Macroeconomics
Volume	5
Issue number	3
DOIs	https://doi.org/10.1016/0164-0704(83)90066-6
Publication status	Published - 1 Jan 1983

ASJC Scopus subject areas

Economics and Econometrics

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/0164-0704(83)90066-6

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abstract = "In this paper we examine the tests of the new classical rational expectations and structural neutrality hypotheses undertaken by Leiderman (1980) using a model of money growth and unemployment for the United States developed by Barro (1977). Employing the data used in the studies by Barro and Leiderman we are able to construct an alternative model of money growth and unemployment against which the Barro-Leiderman model is rejected along with the joint hypothesis of rational expectations and structural neutrality.",

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AB - In this paper we examine the tests of the new classical rational expectations and structural neutrality hypotheses undertaken by Leiderman (1980) using a model of money growth and unemployment for the United States developed by Barro (1977). Employing the data used in the studies by Barro and Leiderman we are able to construct an alternative model of money growth and unemployment against which the Barro-Leiderman model is rejected along with the joint hypothesis of rational expectations and structural neutrality.

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Testing of the rational expectations and structural neutrality hypotheses

Abstract

ASJC Scopus subject areas

UN SDGs

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