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Do US macroeconomic forecasters exaggerate their differences?

Clements, M. (2015) Do US macroeconomic forecasters exaggerate their differences? Journal of Forecasting, 34 (8). pp. 649-660. ISSN 1099-131X

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To link to this item DOI: 10.1002/for.2358


Application of the Bernhardt et al. (Journal of Financial Economics 2006; 80(3): 657–675) test of herding to the calendar-year annual output growth and inflation forecasts suggests forecasters tend to exaggerate their differences, except at the shortest horizon, when they tend to herd. We consider whether these types of behaviour can help to explain the puzzle that professional forecasters sometimes make point predictions and histogram forecasts which are mutually inconsistent.

Item Type:Article
Divisions:Henley Business School > ICMA Centre
ID Code:40358

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