Noise in Expectations: Evidence from Analyst Forecasts
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This paper quantifies the amount of noise and bias in analysts forecast of corporate earnings at various horizons. We first show analyst forecasts outperform statistical forecasts at short-horizons, but underperform at longer horizons. We next decompose the relative accuracy of these forecasts into
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美国国家经济研究局创建时间：
2021-06-01
