The recent period has highlighted a well-known phenomenon, namely the existence of a positive bias in experts' anticipations. Literature on this subject underlines optimism in the financial analyst community. In this work, our significant contributions are twofold: we provide explanatory bias...

According to the Fisher hypothesis, the nominal interest rate is equal to the real interest rate, plus expected inflation. Results concerning the empirical validity of this hypothesis are not unanimous. These contradictions may be due to the fact that the usual concept of cointegration is too...

We propose a detailed Monte Carlo study of model selection criteria when the exact maximum likelihood (EML) method is used to estimate ARFIMA processes. More specifically, our object is to assess the performance of two automatic selection criteria in the presence of long-term memory: Akaike and...

We propose a detailed Monte Carlo study of model selection criteria when the exact maximum likelihood (EML) method is used to estimate ARFIMA processes. More specifically, our object is to assess the performance of two automatic selection criteria in the presence of long-term memory: Akaike and...

According to the Fisher hypothesis, the nominal interest rate is equal to the real interest rate, plus expected inflation. Results concerning the empirical validity of this hypothesis are not unanimous. These contradictions may be due to the fact that the usual concept of cointegration is too...

The recent period has highlighted a well-known phenomenon, namely the existence of a positive bias in experts' anticipations. Literature on this subject underlines optimism in the financial analyst community. In this work, our significant contributions are twofold: we provide explanatory bias...