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| Title: | | A note on forecasting emerging market exchange rates: Evidence of anti-herding  |
| Authors: | | Pierdzioch, Christian Rülke, Jan-Christoph Stadtmann, Georg |
| Issue Date: | | 2012 |
| Series/Report no.: | | Discussion Paper, European University Viadrina, Department of Business Administration and Economics 324 |
| Abstract: | | Using survey forecasts of a large number of Asian, European, and South American emerging market exchange rates, we studied empirically whether evidence of herding or antiherding behavior of exchange-rate forecasters can be detected in the cross-section of forecasts. Emerging market exchange-rate forecasts are consistent with herding (anti-herding) if forecasts are biased towards (away from) the consensus forecast. Our empirical findings provide strong evidence of anti-herding of emerging market exchange-rate forecasters. |
| JEL: | | F31 D84 C33 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Europa-Universität Viadrina
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