𝔖 Bobbio Scriptorium
✦   LIBER   ✦

On the long-run evolution of technological knowledge

✍ Scribed by Hendrik Hakenes; Andreas Irmen


Publisher
Springer
Year
2006
Tongue
English
Weight
154 KB
Volume
30
Category
Article
ISSN
0938-2259

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## ABSTRACT We examine consistency properties of the exchange rate expectation formation process of short‐run and long‐run forecasts in the dollar/euro and yen/dollar market. Applying nonlinear consistency restrictions we show that in a simple expectation formation structure short‐run forecasts are