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

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dc.contributor.authorFujiwara, Ippei
dc.contributor.authorIchiue, Hibiki
dc.contributor.authorNakazono, Yoshiyuki
dc.contributor.authorShigemi, Yosuke
dc.date.accessioned2015-12-13T22:16:26Z
dc.date.issued2013
dc.date.updated2016-02-24T08:58:33Z
dc.description.abstractThis 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.
dc.identifier.issn0165-1765
dc.identifier.urihttp://hdl.handle.net/1885/70864
dc.publisherElsevier
dc.sourceEconomics Letters
dc.subjectKeywords: Anchoring; Forecast revisions; Over-reaction; Survey forecasts; Under-reaction
dc.titleFinancial markets forecasts revisited: Are they rational, stubborn or jumpy?
dc.typeJournal article
local.bibliographicCitation.issue3
local.bibliographicCitation.lastpage530
local.bibliographicCitation.startpage526
local.contributor.affiliationFujiwara, Ippei, College of Asia and the Pacific, ANU
local.contributor.affiliationIchiue, Hibiki, Bank of Japan
local.contributor.affiliationNakazono, Yoshiyuki, Waseda University
local.contributor.affiliationShigemi, Yosuke, Bank of Japan
local.contributor.authoremailu5060823@anu.edu.au
local.contributor.authoruidFujiwara, Ippei, u5060823
local.description.embargo2037-12-31
local.description.notesImported from ARIES
local.identifier.absfor140302 - Econometric and Statistical Methods
local.identifier.ariespublicationf5625xPUB2448
local.identifier.citationvolume118
local.identifier.doi10.1016/j.econlet.2012.12.037
local.identifier.scopusID2-s2.0-84873860942
local.identifier.thomsonID000316833600032
local.identifier.uidSubmittedByf5625
local.type.statusPublished Version

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