The Association between Macroeconomic Uncertainty and Analysts' Forecast Accuracy

• Main Authors: Hope, Ole-Kristian, Kang, Tony
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2005
• Subjects: Accounting; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/soa_research/151; http://dx.doi.org/10.2308/jiar.2005.4.1.23
• Institution: Singapore Management University

This study examines whether macroeconomic uncertainty affects the forecast accuracy of financial analysts in an international setting. We use inflation and foreign exchange volatility as measures of macroeconomic uncertainty. We find strong evidence that forecast accuracy decreases in the level of m...