TY  - BOOK
AU  - TSUCHIYA, Y
TI  - Joint evaluation of the directional accuracy of corporate executives’ forecasts
PY  - 2013///
CY  - New York
PB  - Taylor & Francis
KW  - directional analysis
KW  - market timing test
KW  - forecast evaluation
N2  - Although most research on directional analysis focused on either increase/decrease or acceleration/deceleration of variables of interest, we jointly evaluate the two-directional changes in the real GDP predicted by corporate executives. We applied an approach recently developed by Pesaran and Timmermann (2009) in addition to the tests extensively used in the literature. Besides determining that, the forecast is not useful in predicting an increase/decrease and acceleration/deceleration in real GDP, joint evaluation of the forecast illustrates the advantage of the new test. Further, we examine the two data vintages
UR  - https://doi.org/10.1080/13504851.2013.799743
ER  -