A recently discovered inverse correlation between QSO redshift and long-term
continuum variability timescales was suggested to be the signature of
microlensing on cosmological scales (Hawkins 1993). A general theoretical
method for calculating such correlations is presented and applied to various
lensing scenarios in the framework of Λ=0 Friedmann cosmologies. It
is shown that the observed timescales can be strongly influenced by the
observational limitations: the finite duration of the monitoring campaign and
the finite photometric sensitivity. In most scenarios the timescales increase
with source redshift, zs, although slower than the 1+zs time dilation
expected of intrinsic variability. A decrease can be obtained for an extended
source observed with moderate sensitivity. In this case, only lenses no further
away than several hundreds Mpc participate in the lensing. The resulting
optical depth is too small to explain the common long-term QSO variability
unless an extremely high local lens density is assumed. These results do not
support the idea that the reported inverse correlation can be attributed to
microlensing of a uniform QSO sample by a uniform distribution of lenses. The
possibility of using observations at various wavelengths and QSO samples at
various positions to identify microlensing in QSO variability is also
discussed.Comment: Self-unpacking, uuencoded postscript file, 10 pages with 7 figures
included. Accepted for publication by the MNRAS