| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5059934 | Economics Letters | 2013 | 5 Pages |
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.
⺠We test whether professional forecasters forecast rationally or behaviorally. ⺠Professional forecasts are behavioral, significantly influenced by past forecasts. ⺠Forecasting behavior seems stubborn in the stock market but jumpy in the bond market. ⺠Even in the same country, forecasting behavior is quite different by market.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ippei Fujiwara, Hibiki Ichiue, Yoshiyuki Nakazono, Yosuke Shigemi,