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Are Financial Analysts' Forecasts of Corporate Profits Rational?

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Author Info
Michael P. Keane
David E. Runkle

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File URL: http://www.journals.uchicago.edu/cgi-bin/resolve?JPEv106p768PDF
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Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 106 (1998)
Issue (Month): 4 (August)
Pages: 768-805
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Handle: RePEc:ucp:jpolec:v:106:y:1998:i:4:p:768-805

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  2. Alvaro Sandroni & Wojciech Olszewski, 2008. "Manipulability of Future-Independent Tests," PIER Working Paper Archive 08-014, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania. [Downloadable!]
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  3. Peter Pope & David Peel & Mark Clatworthy, 2006. "Are analysts’ loss functions asymmetric?," Working Papers 003094, Lancaster University Management School, Economics Department. [Downloadable!]
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  4. Zitzewitz, Eric, 2001. "Measuring Herding and Exaggeration by Equity Analysts and Other Opinion Sellers," Research Papers 1802, Stanford University, Graduate School of Business. [Downloadable!]
  5. Stephen R. Bond & Jason G. Cummins, 2004. "Uncertainty and investment: an empirical investigation using data on analysts' profits forecasts," Finance and Economics Discussion Series 2004-20, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  6. Marco Ottaviani & Peter Norman Sorensen, 2001. "The Strategy of Professional Forecasting," Discussion Papers 01-09, University of Copenhagen. Department of Economics. [Downloadable!]
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  7. Jason G. Cummins & Kevin A. Hassett & Stephen D. Oliner, 2006. "Investment Behavior, Observable Expectations, and Internal Funds," American Economic Review, American Economic Association, vol. 96(3), pages 796-810, June. [Downloadable!]
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  8. Allan Timmermann & Andrew J. Patton, 2004. "Properties of Optimal Forecasts," Econometric Society 2004 North American Winter Meetings 234, Econometric Society. [Downloadable!]
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  9. Sunil K. Mohanty & Edward N. W. Aw, 2006. "Rationality of analysts’ earnings forecasts: evidence from dow 30 companies," Applied Financial Economics, Taylor and Francis Journals, vol. 16(12), pages 915-929, August. [Downloadable!] (restricted)
  10. Sean Nicholson & Nicholas S. Souleles, 2002. "Physician Income Prediction Errors: Sources and Implications for Behavior," NBER Working Papers 8907, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  11. Alex Gershkov & Flavio Toxvaerd, 2006. "On Seller Estimates And Buyer Returns," Discussion Papers 143, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
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  12. Eric Ghysels & Jonathan H. Wright, 2006. "Forecasting professional forecasters," Finance and Economics Discussion Series 2006-10, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  13. Martin Wallmeier, 2005. "Analysts’ Earnings Forecasts for DAX100 Firms During the Stock Market Boom of the 1990s," Financial Markets and Portfolio Management, Springer, vol. 19(2), pages 131-151, August. [Downloadable!] (restricted)
  14. Chetan, Dave, 2004. "Are Investment Expectations Rational?," Analytical Studies Branch Research Paper Series 2004208e, Statistics Canada, Analytical Studies Branch. [Downloadable!]
  15. Andreas Ortmann, 2001. "Capital Romance: Why Wall Street Fell in Love With Higher Education," Education Economics, Taylor and Francis Journals, vol. 9(3), pages 293-311, December. [Downloadable!] (restricted)
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