Expectations Formation with Fat-Tailed Processes: Evidence and Theory
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https://www.nber.org/papers/w33808
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资源简介：
This paper studies expectations formation when the underlying process has fat tails. Using a large sample of firm sales growth expectations, we document three facts: (i) the relationship between forecast revisions and future forecast errors is strongly non-linear, (ii) the distribution of sales
提供机构：
美国国家经济研究局
创建时间：
2025-05-01
