Are foreign exchange forecasts rational?. An empirical note

David Avraham; Meyer Ungar; Ben Zion Zilberfarb

doi:10.1016/0165-1765(87)90133-9

Are foreign exchange forecasts rational?. An empirical note

David Avraham, Meyer Ungar, Ben Zion Zilberfarb

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Abstract

This paper uses survey data (drawn from a high inflation economy - Israel) to directly test the rationality of foreign exchange forecasts. The empirical evidence indicates that exchange rate expectations are not rational in the Muthian sense.

Original language	English
Pages (from-to)	291-293
Number of pages	3
Journal	Economics Letters
Volume	24
Issue number	3
DOIs	https://doi.org/10.1016/0165-1765(87)90133-9
State	Published - 1987

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abstract = "This paper uses survey data (drawn from a high inflation economy - Israel) to directly test the rationality of foreign exchange forecasts. The empirical evidence indicates that exchange rate expectations are not rational in the Muthian sense.",

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Are foreign exchange forecasts rational?. An empirical note

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