Ruelke, Jan C.; Frenkel, Michael R.; Stadtmann, Georg - In: Journal of the Japanese and International Economies 24 (2010) 3, pp. 355-368
We use the foreign exchange forecasts of the Wall Street Journal poll to analyze forecasters' expectation formation process for the yen against the US dollar for the period 1989-2007. We also contrast the expectation formation process with the actual exchange rate process. We find that most...