Behavioural biases among interest rate forecasters?

Jordi Pons-Novell

Applied Economics Letters, 2004, vol. 11, issue 5, 319-321

Abstract: Several studies have found evidence that views expressed by other forecasters in the previous period influence individuals' current forecasts, while other analyses have stressed that occasionally forecasters may have other objectives in addition to minimizing forecast errors. This paper presents evidence, using data from Livingston Survey, that these strategic behaviours are less likely to occur when the accuracy of the economic forecasts can be easily and quickly assessed.

Date: 2004
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DOI: 10.1080/1350485042000221607

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