This paper analyzes the role of uncertainty on both exchange rate expectations and forecast errors of professionals for … uncertainty as well as disagreement among CPI inflation forecasters to account for different dimensions of uncertainty. Based on a … the adjustment of exchange rate expectations. Our findings are robust to different forecasting horizons and point to an …

question analysed in this apper. In contrast to other studies we use expectations instead of realised data. Therefore we … analyse the implicit structural models forecasters have in mind when forming their exchange rate expectations. Using expected … short- and long-term interest rates and business expectations as explanatory variables we estimate latent structural models …