Pierdzioch, Christian; Reid, Monique B.; Gupta, Rangan - Department of Economics, Faculty of Economic and … - 2014
We use South African survey data to study whether short-term inflation forecasts are unbiased. Depending on how we … herding weakens. Further, evidence of forecaster herding is strong and significant in times of high inflation volatility. In … time of low inflation volatility, in contrast, forecaster anti-herding seems to dominate. …