Evaluating Japanese corporate executives’ forecasts under an asymmetric loss function

Yoichi Tsuchiya

Economics Letters, 2012, vol. 116, issue 3, 601-603

Abstract: We examine asymmetry in the loss function of Japanese corporate executives in their output growth forecasts and test for rationality of the forecasts under the assumption of a possibly asymmetric loss function. We find evidence of asymmetry and support for rationality under an asymmetric loss function.

Keywords: Macroeconomic forecasting; Asymmetric loss; Rational expectations; Forecast evaluation (search for similar items in EconPapers)
JEL-codes: C53 D84 E27 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:116:y:2012:i:3:p:601-603

DOI: 10.1016/j.econlet.2012.06.010

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