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This paper suggests that exchange rates are related to economic fundamentals over medium-term horizons, such as a month or longer. We find from a large panel of individual professionals' forecasts that good exchange rate forecasts benefit from the proper understanding of fundamentals,...
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feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the …
Persistent link: https://www.econbiz.de/10003728591
-price monetary model and the Mundell-Fleming model. These models are the theoretical basis for the estimation of latent structural …
Persistent link: https://www.econbiz.de/10011442397
markets as they forecast equally accurately as fundamentalists. Unexpected from an efficient market viewpoint, chartists even …
Persistent link: https://www.econbiz.de/10009521123
The aim of this study is the analysis of so called socially responsible investments (SRI). First, the performance of SRI equity investment funds and equity indices is investigated using Jensen's alpha as performance measure. The analysis considers market timing strategies of the fund management...
Persistent link: https://www.econbiz.de/10011448250
As a group, market forecasters are egregiously overconfident. In conformity to the dynamic model of overconfidence of Gervais and Odean (2001), successful forecasters become more overconfident. What’s more, more experienced forecasters have learned to be overconfident,ʺ and hence are more...
Persistent link: https://www.econbiz.de/10003225303
selection bias. Using a novel dataset of the whole population of patents by Belgian firms, we show that the single-office count … results in a selection bias that affects econometric estimates of innovation production functions. We propose a methodology to … evaluate whether estimates that rely on the single-office count are affected by a selection bias. -- Innovation production …
Persistent link: https://www.econbiz.de/10009509662
previously inconsistent results. This is also the first study in which possible linkage consent bias is investigated in applied …
Persistent link: https://www.econbiz.de/10011701697