Fujiwara, Ippei; Ichiue, Hibiki; Nakazono, Yoshiyuki; Shigemi, Yosuke
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.
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