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

Ippei Fujiwara; Hibiki Ichiue; Yoshiyuki Nakazono; Yosuke Shigemi

doi:10.1016/j.econlet.2012.12.037

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

Ippei Fujiwara, Hibiki Ichiue, Yoshiyuki Nakazono, Yosuke Shigemi

Research output: Contribution to journal › Article

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 language	English
Pages (from-to)	526-530
Journal	Economics Letters
Volume	118
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2012.12.037
Publication status	Published - 2013

Access to Document

10.1016/j.econlet.2012.12.037

http://hdl.handle.net/1885/70864

Cite this

@article{92e7e160c8cf4831ad8fafc3962fce83,

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

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.",

author = "Ippei Fujiwara and Hibiki Ichiue and Yoshiyuki Nakazono and Yosuke Shigemi",

year = "2013",

doi = "10.1016/j.econlet.2012.12.037",

language = "English",

volume = "118",

pages = "526--530",

journal = "Economics Letters",

issn = "0165-1765",