This paper compares the informational content of the multiperiod forecasts of the three-month Treasury bill rates from the futures market and the ASA-NBER professional survey, using a univariate forecast as a benchmark. Based on the Fair and Shiller procedure, our findings indicate that, for all...

Existing studies examining exchange rate expectations have used data from surveys which ask participants to provide their forecasts in, for example, 3 months, 6 months, 12 months and so on. This study contributes to the literature by evaluating the Blue Chip quarterly forecasts of trade-weighted...