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Table 1 Overall, between, and within variation of selected variables

From: Great expectations? evidence from Colombia’s exchange rate survey

Variable   Mean St. dev Min Max Observations
1-Month forecasts Overall 2140 319 1600 2982 N = 4100
Between 267 1756 2878 n = 90
Within 274 1593 3047 T = 45.6
1-Year forecasts Overall 2255 389 1150 3425 N = 3478
Between 318 1761 3063 n = 90
Within 329 1144 3398 T = 38.6
Attrition dummy Overall 0.57 0.49 0 1 N = 9630
Between 0.30 0.02 0.98 n = 90
Within 0.39 −0.41 1.56 T = 107
1-Month forecast errors Overall −0.27 % 3.71 % −17.1 % 16.8 % N = 4063
Between 0.86 % −3.05 % 1.64 % n = 90
Within 3.67 % −16.1 % 17.4 % T = 45.1
1-Year forecast errors Overall 9.06 % 12.6 % −79.9 % 42.3 % N = 3090
Between 6.27 % −15.4 % 25.3 % n = 89
Within 12.0 % −80.4 % 41.1 % T = 34.7
  1. Source: authors’ calculations