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is evidence of nonlinearities in forecast smoothing. It is less pronounced in the tails of the distribution of individual … forecast revisions than in the central part of the distribution …
Persistent link: https://www.econbiz.de/10013085134
We study forecasts for real GDP growth using a large panel of individual forecasts from 36 advanced and emerging economies during 1989–2010. We show that the degree of information rigidity in average forecasts is substantially higher than that in individual forecasts. Individual level...
Persistent link: https://www.econbiz.de/10013057314