Overreaction in macroeconomic expectations
We study the rationality of individual and consensus forecasts of macroeconomic and financial variables using the methodology of Coibion and Gorodnichenko (2015), who examine predictability of forecast errors from forecast revisions. We find that individual forecasters typically overreact to news, w...
| Main Authors: | , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
American Economic Association
2020
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