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The Economics of Money, Banking and Financial Markets 4th Edition by Frederic Mishkin
Edition 4ISBN: 978-0133859997The Economics of Money, Banking and Financial Markets 4th Edition by Frederic Mishkin
Edition 4ISBN: 978-0133859997 Exercise 13
If a forecaster spends hours every day studying data to forecast interest rates, but his expectations are not as accurate as predicting that tomorrow's interest rates will be identical to today's interest rates, are his expectations optimal?
Explanation
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Optimal forecast:
Optimal forecast is t...
The Economics of Money, Banking and Financial Markets 4th Edition by Frederic Mishkin
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