SFB 649 Discussion Paper 2008-017 Adaptive Forecasting of the EURIBOR Swap Term Structure Oliver Blaskowitz* Helmut Herwartz** * Humboldt-Universität zu Berlin, Germany ** Christian-Albrechts-Universität zu Kiel, Germany This research was supported by the...

It is commonly accepted that information is helpful if it can be exploited to improve a decision mak- ing process. In economics, decisions are often based on forecasts of up{ or downward movements of the variable of interest. We point out that directional forecasts can provide a useful framework...