Showing 1 - 10 of 108
Survey data of forecasts of the housing market may provide a particularly rich data environment for researchers and policymakers to study developments in housing markets. Based on the approach advanced by Elliott <italic>et al</italic>. (2005), we studied the properties of a large set of survey data of housing...
Persistent link: https://www.econbiz.de/10010970731
Based on the approach developed by Elliott <italic>et al</italic>. (2005), we found that the loss function of a sample of oil price forecasters is asymmetric in the forecast error. Our findings indicate that the loss oil price forecasters incurred when their forecasts exceeded the price of oil tended to be...
Persistent link: https://www.econbiz.de/10010971201
We use the term structure of forecasts of housing starts to test for rationality of forecasts. Our test is based on the idea that short-term and long-term forecasts should be internally consistent. We test the internal consistency of forecasts using data for Australia, Canada, Japan and the...
Persistent link: https://www.econbiz.de/10010976414
We used the yen/dollar exchange-rate forecasts of the <italic>Wall Street Journal</italic> (WSJ) poll to analyse whether exchange-rate forecasters have an asymmetric loss function. To this end, we applied an approach recently developed by Elliott <italic>et al</italic>. (2005). We found that only few forecasters seem to form...
Persistent link: https://www.econbiz.de/10010976423
We use a nonparametric market-timing test to study the <italic>directional accuracy</italic> of survey forecasts of the prices of gold and silver. We find that forecasters have market-timing ability with respect to the direction of change of the price of silver at various forecast horizons. In contrast,...
Persistent link: https://www.econbiz.de/10010976488
The paper investigates Scandinavian countries and their male and female unemployment rates. Okun’s law is used to estimate age cohort and gender-specific Okun coefficients to make inference about the business-cycle dependence of young peoples’ unemployment across Scandinavian countries....
Persistent link: https://www.econbiz.de/10010987065
Recent price trends in housing markets may reflect herding of market participants. A natural question is whether such herding, to the extent that it occurred, reflects herding in forecasts of professional forecasters. Using survey data for Canada, Japan, and the United States, we did not find...
Persistent link: https://www.econbiz.de/10010989331
Survey data of forecasts of the housing market may provide a particularly rich data nvironment for researchers and policymakers to study developments in housing markets. Based on the approach advanced by Elliott et al. (Rev. Ec. Studies. 72, 1197-1125, 2005), we studied the properties of a large...
Persistent link: https://www.econbiz.de/10010991213
We analyze whether exchange-rate forecasters herd. To this end, we lay out two widely studied theoretical models of forecaster herding. The models illustrate why forecasters may herd. We then empirically analyze whether forecasts of the Yen/ Dollar, Swiss franc/Dollar, German mark/Dollar, and...
Persistent link: https://www.econbiz.de/10010883548
The transparency of compensation of the members of the management board has become a central element of the German corporate governance system. We perform an empirical examination with respect to the structure of the compensation of the management board of DAX-30 companies. Some companies show a...
Persistent link: https://www.econbiz.de/10010883565