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Title:A note on forecasting emerging market exchange rates: Evidence of anti-herding PDF Logo
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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