On the rationality of professional forecasts of corporate bond yield spreads

Hamid Baghestani

Applied Economics Letters, 2005, vol. 12, issue 4, 213-216

Abstract: In evaluating the multiperiod forecasts of the corporate bond yield spread from the Survey of Professional Forecasters (SPF), it is shown that the consensus forecasts are generally unbiased and consistently outperform the comparable ARIMA forecasts and are thus, at least, weakly rational.

Date: 2005
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DOI: 10.1080/1350485042000338635

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