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Law of one price: BigMac versus Fortnite - A note
Pierdzioch, Christian; Schöber, Timo; Stadtmann, Georg - 2021
We analyze the law of one price (LoP) based on BigMac and Fortnite prices. We find a positive but less than perfect correlation between the over-/undervaluations of the two indices. While we cannot reject the LoP for the Fortnite data, we find that it does not hold for the BigMac data.
Persistent link: https://www.econbiz.de/10012422765
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The LoP game: BigMac versus Fortnite
Pierdzioch, Christian; Schöber, Timo; Stadtmann, Georg - 2020
We analyze the law of one price (LoP) based on BigMac and Fortnite prices. We find a positive but less than a perfect correlation between the over-/undervaluations of the two indices. While LoP holds for the Fortnite data, it does not hold for the BigMac data.
Persistent link: https://www.econbiz.de/10012160895
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The LoP game : BigMac versus Fortnite
Pierdzioch, Christian; Schöber, Timo; Stadtmann, Georg - 2020
We analyze the law of one price (LoP) based on BigMac and Fortnite prices. We find a positive but less than a perfect correlation between the over-/undervaluations of the two indices. While LoP holds for the Fortnite data, it does not hold for the BigMac data.
Persistent link: https://www.econbiz.de/10012154061
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Law of one price: BigMac versus Fortnite - a note
Pierdzioch, Christian; Schöber, Timo; Stadtmann, Georg - 2021
We analyze the law of one price (LoP) based on BigMac and Fortnite prices. We find a positive but less than perfect correlation between the over-/undervaluations of the two indices. While we cannot reject the LoP for the Fortnite data, we find that it does not hold for the BigMac data.
Persistent link: https://www.econbiz.de/10012392250
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Herdenverhalten von Wechselkursprognostikern?
Pierdzioch, Christian; Stadtmann, Georg - In: Journal of Economics and Statistics (Jahrbuecher fuer … 230 (2010) 4, pp. 436-453
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
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Forecasting the Brazilian Real and the Mexican Peso: Asymmetric Loss, Forecast Rationality, and Forecaster Herding
Fritsche, Ulrich; Pierdzioch, Christian; Ruelke, … - Fachbereich Sozialökonomie, Universität Hamburg - 2012
Using forecasts of the Brazilian real and the Mexican peso, we analyze the shape of the loss function of exchange …-rate forecasters and the rationality of their forecasts. We find a substantial degree of cross-sectional heterogeneity with respect to … the shape of the loss function. While some forecasters seem to forecasts under an asymmetric loss function, symmetry of …
Persistent link: https://www.econbiz.de/10009650308
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Forecasting the Euro: Do Forecasters Have an Asymmetric Loss Function?
Fritsche, Ulrich; Pierdzioch, Christian; Ruelke, … - Fachbereich Sozialökonomie, Universität Hamburg - 2012
function of a sample of exchange rate forecasters is asymmetric in the forecast error. Using forecasts of the euro … important to account for the heterogeneity of exchange rate forecasts at the microeconomic level of individual forecasters when … one seeks to analyze whether forecasters form exchange rate forecasts under an asymmetric loss function. …
Persistent link: https://www.econbiz.de/10009650309
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Forecasting the Euro: Do Forecasters Have an Asymmetric Loss Function?
Fritsche, Ulrich; Pierdzioch, Christian; Ruelke, … - 2012
function of a sample of exchange rate forecasters is asymmetric in the forecast error. Using forecasts of the euro … important to account for the heterogeneity of exchange rate forecasts at the microeconomic level of individual forecasters when … one seeks to analyze whether forecasters form exchange rate forecasts under an asymmetric loss function. …
Persistent link: https://www.econbiz.de/10010420846
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Forecasting the Brazilian Real and the Mexican Peso: Asymmetric Loss, Forecast Rationality, and Forecaster Herding
Fritsche, Ulrich; Pierdzioch, Christian; Ruelke, … - 2012
Using forecasts of the Brazilian real and the Mexican peso, we analyze the shape of the loss function of exchange …-rate forecasters and the rationality of their forecasts. We find a substantial degree of cross-sectional heterogeneity with respect to … the shape of the loss function. While some forecasters seem to forecasts under an asymmetric loss function, symmetry of …
Persistent link: https://www.econbiz.de/10010420853
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The interventions of the European Central Bank : effects, effectiveness, and policy implications
Frenkel, Michael; Stadtmann, Georg; Pierdzioch, Christian - 2001
We analyze the effectiveness of the foreign exchange market interventions conducted by the European Central Bank (ECB) in the fall of 2000 to support the external stability of the euro. To this end, in a first step different channels through which interventions may influence exchange rate...
Persistent link: https://www.econbiz.de/10010503715