Information rigidity in growth forecasts: Some cross-country evidence

Prakash Loungani, Herman Stekler and Natalia Tamirisa ()

International Journal of Forecasting, 2013, vol. 29, issue 4, 605-621

Abstract: We document information rigidity in forecasts of real GDP growth in 46 countries over the past two decades. We also investigate: (i) whether rigidities differ across countries, particularly between advanced countries and emerging markets; (ii) whether rigidities are lower around turning points in the economy, such as in times of recessions and crises; and (iii) how quickly forecasters incorporate news about growth in other countries into their growth forecasts, with a focus on the way in which advanced countries’ growth forecasts incorporate news about emerging market growth, and vice versa.

Keywords: Efficiency; Turning points; Cross-country forecasts (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (46)

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Related works:
Working Paper: Information Rigidity in Growth Forecasts: Some Cross-Country Evidence (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfor:v:29:y:2013:i:4:p:605-621

DOI: 10.1016/j.ijforecast.2013.02.006

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