Information Rigidity in Growth Forecasts: Some Cross-Country Evidence
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
We document information rigidity in forecasts for real GDP growth in 46 countries over the past two decades. We investigate: (i) if rigidities are lower around turning points in the economy, such as in times of recessions and crises; (ii) if rigidities differ across countries, particularly between advanced countries and emerging markets; and (iii) how quickly forecasters incorporate news about growth in other countries into their growth forecasts, with a focus on how advanced countries‘ growth forecasts incorporate news about emerging market growth and vice versa.
Series:
Working Paper No. 2011/125
Subject:
Banking crises Econometric analysis Economic theory Emerging and frontier financial markets Financial crises Financial markets Rational expectations Vector autoregression
English
Publication Date:
June 1, 2011
ISBN/ISSN:
9781455263424/1018-5941
Stock No:
WPIEA2011125
Pages:
41
Please address any questions about this title to publications@imf.org