Evaluating Japanese corporate executives’ forecasts under an asymmetric loss function

We examine asymmetry in the loss function of Japanese corporate executives in their output growth forecasts and test for rationality of the forecasts under the assumption of a possibly asymmetric loss function. We find evidence of asymmetry and support for rationality under an asymmetric loss function.

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Year of publication:	2012
Authors:	Tsuchiya, Yoichi
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 116.2012, 3, p. 601-603
Publisher:	Elsevier
Subject:	Macroeconomic forecasting \| Asymmetric loss \| Rational expectations \| Forecast evaluation

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Type of publication:	Article
Classification:	C53 - Forecasting and Other Model Applications ; E27 - Forecasting and Simulation ; D84 - Expectations; Speculations
Source:	RePEc - Research Papers in Economics

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