Showing 1 - 5 of 5
Exchange rates have been found to be more volatile than underlying macroeconomic fundamentals. Researchers have argued that the empirically observed high exchange-rate volatility may result from herd behavior of foreign-exchange traders and forecasters. We sketch a standard model that...
Persistent link: https://www.econbiz.de/10008646853
The Livingston survey data are used to investigate whether economists’ forecasts are consistent with the Taylor …
Persistent link: https://www.econbiz.de/10011041787
We used the Wall Street Journal survey data for the period 2006–2012 to analyze whether forecasts of house prices and … housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of … forecasters if forecasts are biased towards (away from) the consensus forecast. We found that anti-herding is prevalent among …
Persistent link: https://www.econbiz.de/10011029811
between professional economists' forecasts of the growth rate of money supply, the inflation rate, the growth rate of real …' forecasts for fourteen Asian-Pacific and Central and South-Eastern European countries, we find that the correlations between … professional economists' forecasts are broadly consistent with the money demand function implied by the macroeconomic model. …
Persistent link: https://www.econbiz.de/10010567109
This note gives a fairly complete statistical description of the Hodrick-Prescott Filter (1997) which has been proposed in the context of my seasonal adjustment method (Schlicht 1981, 1984). A statistics estimator for the smoothing parameter is proposed that is asymptotically equivalent to the...
Persistent link: https://www.econbiz.de/10005703010