Scandinavian Exchange Rate Expectations

C.C.P. Wolff; W.F.C. Verschoor

Scandinavian Exchange Rate Expectations

C.C.P. Wolff, W.F.C. Verschoor^*

^*Corresponding author for this work

Finance

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

This paper extends the analyses of Frankel and Froot (1987b), Cavaglia et al. (1993a), and others, to a new data set of exchange rate expectations on Scandinavian exchange rates. It corroborates the earlier finding that exchange rate forecasts are not rational, and that agents do not use all available information in an efficient manner. The evidence suggests that Scandinavian exchange rate expectations were stabilizing and that an unexpected depreciation was typically followed by an expected appreciation of smaller magnitude.

Original language	English
Pages (from-to)	111-116
Journal	Applied Economics Letters
Volume	9
Issue number	2
Publication status	Published - 1 Jan 2001

Cite this

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title = "Scandinavian Exchange Rate Expectations",

abstract = "This paper extends the analyses of Frankel and Froot (1987b), Cavaglia et al. (1993a), and others, to a new data set of exchange rate expectations on Scandinavian exchange rates. It corroborates the earlier finding that exchange rate forecasts are not rational, and that agents do not use all available information in an efficient manner. The evidence suggests that Scandinavian exchange rate expectations were stabilizing and that an unexpected depreciation was typically followed by an expected appreciation of smaller magnitude.",

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AB - This paper extends the analyses of Frankel and Froot (1987b), Cavaglia et al. (1993a), and others, to a new data set of exchange rate expectations on Scandinavian exchange rates. It corroborates the earlier finding that exchange rate forecasts are not rational, and that agents do not use all available information in an efficient manner. The evidence suggests that Scandinavian exchange rate expectations were stabilizing and that an unexpected depreciation was typically followed by an expected appreciation of smaller magnitude.

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VL - 9

SP - 111

EP - 116

JO - Applied Economics Letters

JF - Applied Economics Letters

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Scandinavian Exchange Rate Expectations

Abstract

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