Financial markets forecasts revisited: Are they rational, stubborn or jumpy?

Ippei Fujiwara, Hibiki Ichiue, Yoshiyuki Nakazono, Yosuke Shigemi

    Research output: Contribution to journalArticle

    Abstract

    This paper evaluates professional forecasters' behavior using a panel data of individual forecasts. We find that (i) professional forecasts are behavioral, and (ii) there exists a stock-bond dissonance: the forecasting behavior seems to be stubborn in the stock market, but jumpy in the bond market. Even in the same country, forecasting behavior is quite different by market.
    Original languageEnglish
    Pages (from-to)526-530
    JournalEconomics Letters
    Volume118
    Issue number3
    DOIs
    Publication statusPublished - 2013

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