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reflected in the forecasting capabilities of professional analysts: all in all, analysts are not in a position to beat naïve … environment, we analyse the forecasting behaviour of students experimentally, using a simulated currency series. Our results … indicate that topically-oriented trend adjustment behaviour (TOTA) is a general characteristic of human forecasting behaviour …
Persistent link: https://www.econbiz.de/10005504428
We develop models for examining possible predictors of growth of China's foreign exchange reserves that embrace Chinese and global trade, financial and risk (uncertainty) factors. Specifically, by comparing with other alternative models, we show that the dynamic model averaging (DMA) and dynamic...
Persistent link: https://www.econbiz.de/10010777014
’s financial stress index appear to be strong at almost all horizons and sub-periods. However, the forecasting prowess of the …
Persistent link: https://www.econbiz.de/10010891025
’s financial stress index appear to be strong at almost all horizons and sub-periods. However, the forecasting prowess of the …
Persistent link: https://www.econbiz.de/10010891726
the random walk model, suggests that the forecasting performance of the monetary model is superior. …
Persistent link: https://www.econbiz.de/10009370795
This paper describes the OECD’s new small global forecasting model for the three main OECD economic regions: the United … starting point to help animate the early stages of the OECD’s forecasting round. The model is essentially a demand-side model …
Persistent link: https://www.econbiz.de/10005046017
A practice that has become widespread and widely endorsed is that of evaluating forecasts of financial variability obtained from discrete time models by comparing them with high-frequency ex post estimates (e.g. realised volatility) based on continuous time theory. In explanatory financial...
Persistent link: https://www.econbiz.de/10005082938
This paper studies the dynamic relationship between exchange rate fluctuations and world commodity price movements. Taking into account parameter instability, we demonstrate surprisingly robust evidence that exchange rates predict world commodity price movements, both in-sample and...
Persistent link: https://www.econbiz.de/10005787382
The main ideas in this paper are: (a) that CGE models can be used in forecasting; and (b) that forecasts matter for …
Persistent link: https://www.econbiz.de/10005031641
practical implications, our forecasting results provide perhaps the most convincing evidence to date that the exchange rate …,b) literature on forecasting exchange rates, we find that the reverse forecasting regression does not survive out-of-sample testing …
Persistent link: https://www.econbiz.de/10008549016