This article investigates whether the Federal Reserve's (Fed's) private Gross Domestic Product (GDP) growth forecasts, as reported in the Greenbook of the Fed, contain information about future real and excess stock returns. I implement long-horizon regressions to analyse the predictive power of...

In this study, we try to examine whether the forecast errors obtained by the ANN models affect the breakout of financial crises. Additionally, we try to investigate how much the asymmetric information and forecast errors are reflected on the output values. In our study, we used the exchange rate...