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Are foreign exchange forecasts rational? : New evidence from survey data

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  • Dominguez, Kathryn M.
Abstract
Tests of rational expectations in foreign exchange markets have been inconclusive because of disagreement over the underlying asset pricing model. This paper uses a newly available set of data on foreign exchange forecasts to examine directly expectations formation in four foreign currency markets. Generally, results do not support the simple rational expectations hypothesis.
(This abstract was borrowed from another version of this item.)

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  • Dominguez, Kathryn M., 1986. "Are foreign exchange forecasts rational? : New evidence from survey data," Economics Letters, Elsevier, vol. 21(3), pages 277-281.
    • Handle: RePEc:eee:ecolet:v:21:y:1986:i:3:p:277-281
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