Are professional forecasts of growth in US business investment rational?

Hamid Baghestani

Economics Letters, 2012, vol. 114, issue 1, 132-135

Abstract: Utilizing comparable time-series forecasts as benchmarks, we document the “weak” and “stronger” rationality of professional forecasts of growth in business investment for 1982–2009. Consistent with these findings, the forecasts are directionally accurate and imply symmetric loss.

Keywords: Consensus forecasts; Rationality; Directional accuracy; Symmetric loss (search for similar items in EconPapers)
JEL-codes: E22 E27 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:114:y:2012:i:1:p:132-135

DOI: 10.1016/j.econlet.2011.09.013

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