Information Rigidity in Growth Forecasts : Some Cross-Country Evidence »
Journal Issue
Volume/Issue: 2011/125
Series: IMF Working Papers
Author(s): Natalia Tamirisa , Prakash Loungani , and Herman Stekler
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2011
DOI: http://dx.doi.org/10.5089/9781455263424.001
ISBN: 9781455263424
Keywords: Information rigidity, forecasts, crises, banking crises, recession, impulse responses, number of observations, forecast errors, Forecasting and Other Model Applications, Prices
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 rec...