Andrade, P.; Crump, R.; Eusepi, S.; Moench, E. - Banque de France - 2014
We use the term structure of disagreement of professional forecasters to document a novel set of facts: (1) forecasters … disagree at all horizons, including the long run; (2) the term structure of disagreement differs markedly across variables: it …; (3) disagreement is time varying at all horizons, including the long run. These new facts present a challenge to …