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Patterns in Exchange Rate Forecasts for 25 Currencies / Menzie Chinn, Jeffrey Frankel.
- Format:
- Book
- Author/Creator:
- Chinn, Menzie.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3807.
- NBER working paper series no. w3807
- Language:
- English
- Subjects (All):
- Foreign exchange rates.
- Foreign exchange market.
- International finance.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1991.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1991.
- Summary:
- We investigate the properties of exchange rate forecasts with a data set encompassing a broad cross section of currencies. The key finding is that expectations appear to be biased in our sample. This result is robust to the possibility of random measurement error in the survey measures. Investors would be better off placing less weight on their forecasts or the forward rate, and more on the current spot rate.
- Notes:
- Print version record
- August 1991.
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