Pooling forecasts obtained from different procedures typically reduces the mean square forecast error and more … generally improves the quality of the forecast. In this paper we evaluate whether pooling interpolated or backdated time series … analyses with macroeconomic time series indicate that pooling plays a positive and important role also in this context. …

overlooked costs. Pooling induces socially costly information acquisition by speculators. Further, in pooling equilibria, issuers … endogenous declines in uninformed debt trading. Issuer incentives to implement the pooling equilibrium, with distorted risk …