Heterogeneity in exchange rate expectations: evidence on the chartist-fundamentalist approach

Menkhoff, Lukas; Rebitzky, Rafael R.; Schröder, Michael

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[journal article]

dc.contributor.author	Menkhoff, Lukas	de
dc.contributor.author	Rebitzky, Rafael R.	de
dc.contributor.author	Schröder, Michael	de
dc.date.accessioned	2012-01-24T02:50:00Z	de
dc.date.accessioned	2012-08-29T23:08:40Z
dc.date.available	2012-08-29T23:08:40Z
dc.date.issued	2009	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/28312
dc.description.abstract	"This paper examines heterogeneity in exchange rate expectations. Whereas agents’ heterogeneity is key in modern exchange rate models, evidence on determinants of heterogeneity is weak thus far. Our sample, covering expectations from about 300 forecasters over 15 years, shows remarkable time variation in dispersion. Determinants of dispersion are consistent with the chartist-fundamentalist approach: misalignments of the exchange rate and exchange rate changes explain heterogeneity. The risk premium influences heterogeneity as well, but possible impacts from macroeconomic variables and exchange rate's volatility are dominated by the other determinants." [author's abstract]	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Economics	en
dc.subject.other	Exchange rate; Heterogeneity; Dispersion; Chartists; Fundamentalists
dc.title	Heterogeneity in exchange rate expectations: evidence on the chartist-fundamentalist approach	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Journal of Economic Behavior & Organization	de
dc.source.volume	70	de
dc.source.issue	1-2	de
dc.subject.classoz	National Economy	en
dc.subject.classoz	Volkswirtschaftstheorie	de
dc.identifier.urn	urn:nbn:de:0168-ssoar-283125	de
dc.date.modified	2012-01-24T08:34:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.gesis.collection	SOLIS;ADIS	de
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	3	de
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.rights.copyright	f	de
dc.source.pageinfo	241-252
internal.identifier.classoz	1090301
internal.identifier.journal	196	de
internal.identifier.document	32
internal.identifier.ddc	330
dc.identifier.doi	https://doi.org/10.1016/j.jebo.2009.01.007	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

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Volkswirtschaftstheorie
Economic Theory

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