Pierdzioch, Christian; Reid, Monique B.; Gupta, Rangan - Department of Economics, Fakulteit Ekonomiese en … - 2014
We use South African survey data to study whether short-term inflation forecasts are unbiased. Depending on how we model a forecaster’s information set, we find that forecasts are biased due to forecaster herding. Evidence of forecaster herding is strong when we assume that the information set...