Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/304108 
Year of Publication: 
2023
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 11 [Issue:] 1 [Article No.:] 2223417 [Year:] 2023 [Pages:] 1-22
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
The study investigates the existence and extent of information rigidity in inflation forecasts among 25 developed and 18 developing economies during 2002-2017 period utilizing a survey data set never explored before on this issue. In general, the study finds some evidence of information rigidity. Rigidity is present during the recession period of global financial crisis of 2007 for both the developed and the developing countries alike, and we find weak evidence of information gathering picking up during the recession period. We also find that forecast revisions depend on both own country and cross-country lagged revisions. Therefore, one source of information rigidity is not to incorporate overseas events in forecast revisions quickly and completely.
Subjects: 
cross-country forecasts
forecast efficiency
forecast smoothing
inflation forecasts
Information rigidity
JEL: 
C53
D83
D84
E13
E31
E37
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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