Skip Nav Destination
Close Modal
Update search
NARROW
Format
Journal
Date
Availability
1-1 of 1
Timo Dimitriadis
Close
Follow your search
Access your saved searches in your account
Would you like to receive an alert when new items match your search?
Sort by
Journal Articles
Publisher: Journals Gateway
The Review of Economics and Statistics 1–45.
Published: 25 November 2024
Abstract
View article
PDF
Rational respondents to economic surveys may report as a point forecast any measure of the central tendency of their predictive distribution, e.g. the mean, median, or mode. We propose tests of forecast rationality when the measure used by the respondent is unknown. We overcome an identification problem that arises when the centrality measures are in a local neighborhood of each other, as is the case for approximately symmetric distributions. We apply our tests to income forecasts from the FRBNY's Survey of Consumer Expectations. We find these forecasts are rationalizable as mode forecasts, but not as mean or median forecasts.
Includes: Supplementary data