MACROECONOMIC INDICATORS FORECASTS ACCURACY AND REACTION OF INVESTORS ON THE WSE
MACROECONOMIC INDICATORS FORECASTS ACCURACY AND REACTION OF INVESTORS ON THE WSE
Author(s): Tomasz WójtowiczSubject(s): Economy, Supranational / Global Economy, Policy, planning, forecast and speculation
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: macroeconomic news announcements; WSE; event study;
Summary/Abstract: Every day analysts and news agencies publish forecasts of important macroeconomic indicators. When the announced value of an indicator differs from its forecast, investors must revise their strategies. The strength of investors’ reaction depend on the difference between expectations and the true value of the indicator. In this paper we analyze the reaction of investors on the WSE to U.S. macroeconomic news announcements. We compare the strength of the reaction when forecasts are based on information from different financial services.
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XVI/2015
- Issue No: 2
- Page Range: 142-151
- Page Count: 10
- Language: English