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Scandinavian exchange rate expectations

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  • Willem Verschoor
  • Christian Wolff

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.

Suggested Citation

  • Willem Verschoor & Christian Wolff, 2002. "Scandinavian exchange rate expectations," Applied Economics Letters, Taylor & Francis Journals, vol. 9(2), pages 111-116.
    • Handle: RePEc:taf:apeclt:v:9:y:2002:i:2:p:111-116
    DOI: 10.1080/13504850110049757
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    Cited by:

    1. Beckmann, Joscha & Czudaj, Robert, 2017. "Exchange rate expectations and economic policy uncertainty," European Journal of Political Economy, Elsevier, vol. 47(C), pages 148-162.
    2. Beckmann, Joscha & Czudaj, Robert, 2017. "The impact of uncertainty on professional exchange rate forecasts," Journal of International Money and Finance, Elsevier, vol. 73(PB), pages 296-316.
    3. Ron Jongen & Willem F.C. Verschoor & Christian C.P. Wolff, 2008. "Foreign Exchange Rate Expectations: Survey And Synthesis," Journal of Economic Surveys, Wiley Blackwell, vol. 22(1), pages 140-165, February.

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