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On the rationality of professional forecasts of corporate bond yield spreads

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  • Hamid Baghestani

Abstract

In evaluating the multiperiod forecasts of the corporate bond yield spread from the Survey of Professional Forecasters (SPF), it is shown that the consensus forecasts are generally unbiased and consistently outperform the comparable ARIMA forecasts and are thus, at least, weakly rational.

Suggested Citation

  • Hamid Baghestani, 2005. "On the rationality of professional forecasts of corporate bond yield spreads," Applied Economics Letters, Taylor & Francis Journals, vol. 12(4), pages 213-216.
    • Handle: RePEc:taf:apeclt:v:12:y:2005:i:4:p:213-216
    DOI: 10.1080/1350485042000338635
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    References listed on IDEAS

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