TY  - BOOK
AU  - Sosvilla-Rivero,Simón
AU  - Ramos-Herrera,Maria del Carmen
TI  - On the forecast accuracy and consistency of exchange rate expectations: the Spanish PwC Survey
SN  - 13504851
AV  - HB1.A666 APP 
PY  - 2013///
CY  - New York
PB  - Taylor and Francis
KW  - Exchange rates
KW  - Forecasting
KW  - Expectations
N2  - We examine the predictive ability and consistency properties of exchange rate expectations for the dollar/euro using a survey conducted in Spain by PricewaterhouseCoopers (PwC) among a panel of experts and entrepreneurs. Our results suggest that the PwC panel have some forecasting ability for time horizons from 3 to 9 months, although only for the 3-month ahead expectations we obtain marginal evidence of unbiasedness and efficiency in the forecasts. As for the consistency properties of the exchange rate expectation formation process, we find that survey participants form stabilizing expectations in the short run and destabilizing expectations in the long run
UR  - https://doi.org/10.1080/13504851.2012.684775
ER  -