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Applied Economics Letters Volume 18, 2011 - Issue 8
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Original Articles

Do exchange-rate forecasters herd?

Christian Pierdzioch Department of Economics and Saarland Institute for Socioeconomic Research, Saarland University, PO Box 15 11 50, 66041, Saarbruecken, GermanyCorrespondence[email protected]
&
Georg Stadtmann Department of Economics, Europa-Universität Viadrina Frankfurt (Oder), PO Box 1786, 15207, Frankfurt (Oder), Germany; Department of Business and Economics, University of Southern Denmark, Campusvej 55, 5230, O dense M, Denmark
Pages 739-741 | Published online: 25 Jan 2011

References

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  • Cheung , Y.-W. and Wong , C. 2000 . A survey of market practitioners’ views on exchange rate dynamics . Journal of International Economics , 51 : 401 – 19 .
  • Dreger , C. and Stadtmann , G. 2008 . What drives heterogeneity in foreign exchange rate expectations: insights from a new survey . International Journal of Finance and Economics , 13 : 360 – 7 .
  • Laster , D. , Bennett , P. and Geoum , I. S. 1999 . Rational bias in macroeconomic forecasts . Quarterly Journal of Economics , 114 : 293 – 318 .
  • Menkhoff , L. and Rebitzky , R. 2008 . Investor sentiment in the US-dollar: longer-term, non-linear orientation on PPP . Journal of Empirical Finance , 15 : 455 – 67 .
  • Mitchell , K. and Pearce , D. K. 2007 . Professional forecasts of interest rates and exchange rates: evidence from the Wall Street Journal's panel of economists . Journal of Macroeconomics , 29 : 840 – 54 .
  • Naujoks , M. , Aretz , K. , Kerl , A. G. and Walter , A. 2009 . Do German security analysts herd? . Financial Markets and Portfolio Management , 23 : 3 – 29 .
  • R Development Core Team (2010) R: A Language and Environment for Statistical Computing. http://www.R-project.org (http://www.R-project.org) (Accessed: 24 June 2010 ).
  • Scharfstein , D. S. and Stein , J. C. 1990 . Herd behavior and investment . American Economic Review , 80 : 465 – 79 .

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