In this paper, we use survey data to analyze the rationality of professional macroeconomic forecasts. We analyze both … used with caution, since even if all individual forecasts are rational the hypothesis of rationality is often rejected by …

In this paper, we use survey data to analyze the rationality of professional macroeconomic forecasts. We analyze both … used with caution, since even if all individual forecasts are rational the hypothesis of rationality is often rejected by … ; macroeconomic forecasting ; rationality ; survey data ; fixed-event forecasts …