This article investigates whether there exists a consensus among foreign exchange rate forecasters. The data set under consideration is the semi-annual survey of the Wall Street Journal . In most of all cases we find evidence in favor of a consensus. However, in a few cases, no-consensus is...

Financial investors tend to sell winners too early and ride losers too long. Therefore, demand for financial advice should be high in a bull market and low in a bear market. This hypothesis is tested and a positive relation is found between the sales of investor magazines and the development of...

We study the rationality of the inflation forecasts of the central banks of Argentina, Brazil, Chile, and Mexico. We reject rationality under a symmetric (Chile is an exception) but not under an asymmetric loss function. An overprediction implies a larger loss than an underprediction. We also...