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A group of agents wants to reform the status quo if and only if this is Pareto improving. Agents have private information and may have common or private objectives, which creates a tension between information aggregation and minority protection. We analyze a simple voting system - majority rule...
Persistent link: https://www.econbiz.de/10010394633
Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading … question analysed in this apper. In contrast to other studies we use expectations instead of realised data. Therefore we … analyse the implicit structural models forecasters have in mind when forming their exchange rate expectations. Using expected …
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We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using novel identifying strategies and evaluation methods,...
Persistent link: https://www.econbiz.de/10012033337
the adjustment of exchange rate expectations. Our findings are robust to different forecasting horizons and point to an …This paper analyzes the role of uncertainty on both exchange rate expectations and forecast errors of professionals for …
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actors' expectations. To identify news coverage about the Greek debt crisis, we apply topic modeling to a newly compiled …
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