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Original Articles

Testing rationality of foreign exchange forecasts under flexible loss: survey evidence from Brazil

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Pages 1081-1084 | Published online: 04 Oct 2011

References

  • Baghestani , H. 2010 . Evaluating Blue Chip forecasts of the trade-weighted dollar exchange rate . Applied Financial Economics , 20 : 1879 – 89 .
  • Elliott , G. , Komunjer , I. and Timmermann , A. 2005 . Estimation and testing of forecast rationality under flexible loss . Review of Economic Studies , 72 : 1107 – 25 .
  • Elliott , G. , Komunjer , I. and Timmermann , A. 2008 . Biases in macroeconomic forecasts: irrationality or asymmetric loss . Journal of European Economic Association , 6 : 122 – 57 .
  • Frankel , J. A. and Froot , K. A. 1987 . Using survey data to test standard propositions regarding exchange rate expectations . American Economic Review , 77 : 133 – 53 .
  • Sobiechowski , D. 1996 . Rational expectations in the foreign exchange market? Some survey evidence . Applied Financial Economics , 28 : 1601 – 11 .
  • Tversky , A. and Kahneman , D. 1974 . Judgment under uncertainty: heuristics and biases . Science , 185 : 1124 – 31 .

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