autocorrelated. We find that cross-border flows forecast both individual country equity market prices and associated US closed …-border inflows predict no change in the discount, but forecast positive changes in both net asset values and closed-end fund prices …

analyst effort (proxied by analyst coverage) and expertise (proxied by consensus cross-analyst forecast variability) affect … forecast accuracy more significantly for shares traded by foreign investors than for shares traded by local investors …. Additionally, I find that the relation between analyst characteristics and relative forecast accuracy is stronger for shares traded …

forecast commonly imply that the outturn is expected to lie above [below] the central forecast. Investigating the inflation … informativeness, that is, for a systematic connection between risk assessments and forecast errors. Thus, it seems questionable … whether macroeconomic risk forecasts are meaningful. -- Forecast evaluation ; risk forecasts ; inflation forecasts …