Information in the Revision Process of Real-Time Datasets
提出两种检验早期发布数据非线性的方法，蒙特卡洛模拟显示其有限样本性质良好，实证发现产出和价格数据不满足理性，但货币数据满足。
Rationality of early release data is typically tested using linear regressions. Thus, failure to reject the null does not rule out the possibility of nonlinear dependence. This paper proposes two tests that have power against generic nonlinear alternatives. A Monte Carlo study shows that the suggested tests have good finite sample properties. Additionally, we carry out an empirical illustration using a real-time dataset for money, output, and prices. Overall, we find evidence against data rationality for output and prices, but not for money. © 2009 American Statistical Association.